LONDON--(EON: Enhanced Online News)--Technavio analysts forecast the global automotive premium audio market to grow at a CAGR of close to 15% during the forecast period, according to their latest report.
“The integration of advanced digital processors and microchips within the head units of modern audio systems has been driving the premium audio system in the automotive market. These microprocessors and chips are helping in improving the sound quality of the system and thereby making the system more premium in function”
The research study covers the present scenario and growth prospects of the global automotive premium audio market for 2017-2021. A top-down approach is used, on the basis of the overall automotive premium audio system application in key regions, to calculate the market size.
The global automotive premium audio market is expected to grow to 33.98 million units by 2021, with almost 50% of the incremental growth originating from APAC. The rapidly evolving automotive market is driving the sales of premium audio systems in the region, especially in emerging countries like India and China.
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Technavio analysts highlight the following four factors that are contributing to the growth of the global automotive premium audio market:
- Improved quality of sound systems through digital signal processors
- Improved sound quality and output through better speakers
- Advances in automotive audio system technology
- Smartphone integration with advanced IVI systems
Improved quality of sound systems through digital signal processors
“The integration of advanced digital processors and microchips within the head units of modern audio systems has been driving the premium audio system in the automotive market. These microprocessors and chips are helping in improving the sound quality of the system and thereby making the system more premium in function,” says Siddharth Jaiswal, one of the lead analysts at Technavio for automotive electronics research.
The market is witnessing an increased adoption of in-dash entertainment systems and video devices in their vehicles. Because of this growth in the use of digital content in automobiles, the demand for applications such as rear-seat infotainment systems is also growing.
Improved sound quality and output through better speakers
Automotive audio systems have undergone significant improvements over the last decade, with the addition of numerous speakers and tweeters, in addition to sound amplifiers, that deliver optimum sound quality. Also, power amplifiers have helped in amplifying audio signals and increasing power output.
Present day audio systems are designed to ensure that the sound is dispersed equally throughout the vehicle, providing a good audio experience to both the driver and passengers. Some premium audio systems also include noise cancellation to deliver a theater-like experience to the listener.
Advances in automotive audio system technology
Innovation is crucial for the vendors in this market space due to extreme competition from other vendors. With the high demand for sophisticated in-car entertainment systems, customers seek for more state-of-the-art features in their audio systems, which are energy-efficient, Bluetooth-enabled, touchscreen-optimized and having vehicle noise compensation features.
HARMAN has pioneered an energy-efficient audio and infotainment design called GreenEdge. This design utilizes amplifiers and speakers that deliver a significant increase in overall efficiency levels. They are also more powerful, compact, lightweight, and energy efficient than most conventional audio systems.
Smartphone integration with advanced in-vehicle infotainment (IVI) systems
“The demand for in-vehicle built-in connectivity has led to consumers linking their smartphones and tablets with the vehicle's infotainment systems to access enhanced entertainment and information services. Most of the infotainment systems currently used have access to media content, navigation systems, internet connectivity, and social networking,” says Siddharth.
Manufacturers are collaborating with smartphone and tablet vendors to provide in-vehicle products and services to cater to consumers' demands. Additionally, owing to the increasing adoption of electric vehicles worldwide, vendors are developing applications to help consumers obtain a real-time status of their vehicle battery. Such innovations will help vendors gain a solid foothold in the market.
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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