Automobile audio equipment is a device connected in a vehicle providing in-vehicle entertainment and information to driver and passengers. The automobile audio equipment system gives integrated support and enhanced solutions to the users and replace the need for multiple products such as navigation system, music system and others. This system provides better connectivity, security and large entertainment options. Conventional automobile audio equipment system consists only a simple AM (analog modulation) system. With the advancement, current automobile audio equipment involves FM (Frequency modulation) radio, Bluetooth telephone integration, CD (compact discs) players, navigation systems and smartphone controllers like android auto and car play.
The driving factor for global automobile audio equipment market includes improved incorporation of digitalized content with advanced audio-visual navigation system. Moreover, demand for in-vehicle entertainment systems is growing with rapid rate. The integration of Bluetooth technology, installed into a vehicle’s audio system permits easy connectivity between the user’s phone and the vehicle’s audio system. Similarly, chips and microprocessor used in audio system provides improved sound quality. Due to these features, demand for automobile audio equipment market is growing continuously and it is expected to increase enormously during the forecast period. However, the cost required to install automobile audio equipment is very high. Additionally, the design structure of automobile audio equipment market is very complex. These factors are hampering the growth of global automobile audio equipment market.
Global automobile audio equipment market is segmented on the basis of vehicle type, connectivity and geography. Based on type of vehicle, the global automobile audio equipment market is sub segmented into premium SUVs and luxury sedans. The market for premium SUVs is estimated to grow in forecasted period due to performance pickup trucks, and MP (media player) worldwide.
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The global automobile audio equipment market includes a few established players, who principally manufacture and supply innovative audio systems and components. The competition in this market is projected to strengthen in the estimated period due to higher demand of vehicles with advanced features. Moreover, the increase in customer preference for better quality vehicle audio-graphic and navigation systems will further raise competition in the market. Some of the key players are Bose, Harman, Bang & Olufsen, Burmester Audiosysteme, Alpine Electronics, Meridian Audio, Blaupunkt, Pioneer, Bowers & Wilkins, McIntosh Laboratory, Boston Acoustics, Dynaudio and meridian audio . among others.
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