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Harman International SWOT & PESTLE Analysis

ID : 521249653| Jun 2022| 20 pages

COMPANY PROFILE -Harman International

Business Sector :Automotive Electronics

Operating Geography :United States, North America, Global

About Harman International :

Harman based in Stamford, Connecticut, creates connected products and solutions for automakers, consumers, and businesses around the world, including connected car systems, audio and visual products, enterprise automation solutions, and Internet of Things services. Harman Kardon, the forerunner to Harman International, was founded in 1953 by Sidney Harman and Bernard Kardon. The company has been a Samsung Electronics subsidiary since 2017. For outstanding design and engineering expertise, HARMAN has won ten CES Innovation Awards. CES has brought together the world's most passionate innovators every year for the past 50 years to present their latest breakthroughs and introduce the products and ideas that will shape the future of technology. On March, 2022, HARMAN International announced the launch of a new group within its OEM Special Markets business to focus on its existing marine brands as well as to introduce Harman Kardon® into the marine market – Harman Kardon Marine.

The USP of Harman is that it is recognized as the number one Tier-1 supplier to Automotive OEMs. The mission statement of HARMAN reads, “To make life more connected, entertaining, personalized and productive”.

Harman International Revenue :


₩ 100,771 million - FY ending 31st December 2021
₩ 91,837 million - FY ending 31st December 2020

Competitive Analysis of Harman International

SWOT
PESTLE
The SWOT analysis for Harman International is presented below in a matrix followed by the detailed analysis report:
StrengthsWeaknesses
1. Expert and leader in multiple industry verticals
2. Highest Zinnov Ratings for Overall IoT services
3. Harman International has a global delivery footprint
4. Harman International is Google’s number 1 Android Automotive Scaling Partner
5. Over 50 million automobiles on the road today are equipped with Harman systems
6. Harman International has almost 25% market share in the digital cockpit market
1. Reduced earnings due to Covid-19
OpportunitiesThreats
1. Human Machine Interface market expected to grow at 6 to 10% CAGR
2. Increasing demand for safety, personalized driving experiences in automobiles
1. Successive disruptions in supply chain due to covid-19 and Russia-Ukraine conflict
2. Shortage of semi-conductor chips pose a great threat to automotive industry
3. Reduced global production is forecasted for Light Vehicle
SWOT & PESTLE (combined)
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Detailed SWOT Analysis of Harman International

Strength

1. Expert and leader in multiple industry verticals: Harman is well-positioned to remain at the top of the automotive market, with plans to use its diverse brand portfolio to outfit vehicles ranging from mass-market to high-end models, all while maintaining the high quality that Harman is known for. Harman's unrelenting pursuit of innovation in the audio and connectivity spaces will also aid in the development of succesful partnerships with automakers. Harman's Connected Services business has also continued to grow, with industry-leading OTA (Over the Air) and software servicing products. Harman uses their experience in a variety of industry verticals and leading platforms to quickly capitalise on new market opportunities.

2. Highest Zinnov Ratings for Overall IoT services: The annual Zinnov Zones for ER&D and IoT Services 2021 ratings have rated HARMAN's Digital Transformation Solutions (DTS) business unit as a leader. Zinnov's annual analysis of Global ER&D Service Providers rated HARMAN as a leader in 15 segments, including Overall ER&D Services and Overall IoT Services, after evaluating 50 global ER&D service providers. HARMAN was also named a leader in ER&D and IoT across several horizontals, verticals, and micro-verticals. Among HARMAN's many accolades are: ER&D Zinnov Zones: Overall ER&D Services 2021; Horizontals: Digital Engineering, AI Engineering, ER&D Services – US; Verticals: Consumer Software, Enterprise Software, Semiconductor, Telecommunication, Medical; Devices: Consumer Software, Enterprise Software, Semiconductor, Telecommunication, Medical; Software Platform Engineering, Telehealth, and OTT IoT are micro-verticals. Overall IoT Services, Public Infrastructure, and Telehealth are the IoT Zinnov Zones.

The remaining section under "Strength" is available only in the 'Complete Report' on purchase.

Weakness

This section is available only in the 'Complete Report' on purchase.

Opportunity

This section is available only in the 'Complete Report' on purchase.

Threat

This section is available only in the 'Complete Report' on purchase.

Major Competitors :

Major Brands :

  • Harman Automated HMI Development Suite for Automotive
  • Harman Connected Services
  • Harman Ignite
  • Harman OTA
  • Infinity
  • JBL
  • AMX
  • Soundcraft
  • Crown
SWOT & PESTLE (combined)
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TABLE OF CONTENTS
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Check Out Analysis of Other Relevant Companies

References used in Harman International SWOT & PESTLE Analysis Report

1. HARMAN AUTOMATED HMI DEVELOPMENT SUITE FOR AUTOMOTIVE - https://info.services.harman.com/rs/378-OMF-030/images/Factsheet_HCS_Auto_HMI_Design_Tool.pdf
2. SAMSUNG ELECTRONICS Co., Ltd. 2021 Half-year Business Report - https://images.samsung.com/is/content/samsung/assets/global/ir/docs/2021_Half_Year_Report.pdf
3. Press Release - https://news.harman.com/releases/
4. HARMAN - https://car.harman.com/
5. Human Machine Interface (HMI) Market Estimated to Grow USD 7.24 Billion by 2026 at 10.3% CAGR - Report by Market Research Future (MRFR) - https://www.globenewswire.com/news-release/2021/08/23/2285065/0/en/Human-Machine-Interface-HMI-Market-Estimated-to-Grow-USD-7-24-Billion-by-2026-at-10-3-CAGR-Report-by-Market-Research-Future-MRFR.html
The detailed complete set of references are available on request in the 'Complete report' on purchase.

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In-text: (SWOT & PESTLE.com, 2022)

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Harman International SWOT and PESTLE analysis has been conducted by Sohil Sankalp and reviewed by senior analysts from Barakaat Consulting.

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