Smart Audio System Market Witnessing High Growth By Key Players
Global Smart Audio Market: Introduction
- Smart audio systems used in automobiles are network and Bluetooth connected in order to stream music, while a few even have built-in screens. The automotive audio system has witnessed a revolution in the last decade, evolving from the simple AM/FM radio system to smart & intelligent audio system that supports live streaming.
Key Drivers and Restraints of Global Smart Audio Market
- Rise in consumer demand for connected vehicle solutions and digital solutions has boosted the demand for the smart audio system. Increased usage of smartphones and consumer demand for connecting smartphones to vehicle for entertainment and infotainment support has fueled the demand for the smart audio systems worldwide.
- Rise in sales of luxury and premium vehicles is anticipated to propel the automotive smart audio system market. Developing countries in Asia Pacific and Latin America are witnessing an increase in sales of luxury vehicles owing to a rise in consumer purchase parity, which is projected to further drive the global automotive smart audio system market.
Advent of connected vehicles and autonomous vehicles is anticipated to boost the adoption of automotive smart audio systems
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Rise in demand of Digital Display Audio
- Digital Display Audio is gaining popularity among automakers to design and achieve a digital cockpit and improve the cabin experience. Advancement in technology and further decrease in price of the digital display audio are anticipated to boost its penetration in the automotive smart audio system market. Rise in sales of connected cars and demand for in-built entertainment systems is expected to propel the adoption of the digital smart audio system.
Integrated segment to expand significantly
In terms of connectivity type, integrated connectivity acts as an extended support to smartphone screens. Integrated is a robust type of connectivity and is imperative from the perspective of adoption of autonomous vehicles. Integrated type enable wireless connectivity of the smartphone with the vehicle audio system. Smart audio systems are thus expected to be supported by the integrated connectivity type owing to their high preference from automakers.