About Premium Audio
Premium audio systems are becoming more popular consumer electronics for in-vehicle entertainment and personal use. Increasing disposable income of people and inclination towards the hi-fi audio systems with excellent sound quality increased the adoption of premium audio. Increasing demand for premium audio systems in the new high-end luxury cars and the growing need for personalized and natural in-car audio experiences have created significant opportunities for the global market.
Attributes | Details |
---|
Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new product launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that Japanese Vendors will contribute the maximum growth to Global Premium Audio market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Sony Corporation (Japan), Bose Corporation (United States), Bowers & Wilkins (United Kingdom), Panasonic (Japan), Acura (Japan), Rockford Fosgate (United States), Dynaudio (Denmark), Devialet (France), Samsung Electronics (South Korea), Alpine Electronics (Japan), Clarion (Japan), KEF (United Kingdom) and Pioneer Corporation (Japan) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Premium Audio market by Type (Portable and Fixed), Application (Personal Use, Commercial and Automotive) and Region.
On the basis of geography, the market of Premium Audio has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Sales Channel, the sub-segment i.e. Online will boost the Premium Audio market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Connectivity, the sub-segment i.e. Bluetooth will boost the Premium Audio market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Emerging Trend of Premium Wireless and Portable Audio Systems Among the Consumers
Market Growth Drivers:
Surging Demand for Premium Sound Systems to Install in Car and Personal Use and Increasing Disposable Income and Purchasing Power of People
Challenges:
Lack of Excellent Sound Quality of Some Wireless Audio Systems
Restraints:
High Cost Associated with Premium Audio Systems
Opportunities:
Growing Preference Towards the Premium Audio Systems in New Vehicles
In February 2022, Sony announced the new addition to its premium mobile ES1 car subwoofer, speaker, and amplifier lineup to deliver a superior in-car entertainment experience. The new range includes XS-W122ES, XS-W124ES, XS-163ES, XS-692ES, XM-5ES, XM-4ES, and XM-1ES and comes with high-quality sound and seamless usability.
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Premium Audio System Manufacturers, Suppliers & Distributors, Venture Capitalists and Private Equity Firms, End-Users and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.