LONDON–(BUSINESS WIRE)–The automotive premium audio system market is expected to grow by USD 13.86 billion during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. We expect the impact to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth.
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Premium audio systems offer superior sound quality and performance compared to regular audio systems. They comprise numerous speakers, tweeters, and sound amplifiers to deliver optimum sound quality. Vendors are introducing premium audio systems that feature noise cancellation and voice commands to improve driving focus and enable multitasking. The growing popularity of automotive premium audio systems is encouraging several luxury and mid-size passenger car manufacturers to offer them as