The global automotive speaker market is anticipated to grow at a significant CAGR of around 6.8% during the forecast period. Increasing adoption of in-car infotainment systems for internet-based content such as podcasts, internet radio, and music is driving the industry growth. The growing adoption of ADAS (Advanced driver assistance systems) and integration of automotive speaker in passenger cars and commercial vehiclesfuelling the market growth. Increasing demand for safety and driving assistant systems and customers inclination towards onboard entertainment in private and commercial vehicleswill propel the market growth. The automotive speaker manufacturers are launching various innovative and advanced products to enhance the market share, that will consequently drive the market growth. For instance, in July 2021, Pioneer India Electronics introduced Hi-Res special edition car speakers TS-V170C, TS-VR170C, and TS-J170C. These speakers were designed in Japan and tuned with the Indian consumer taste. High cost associated with the premium automotive speakers is the factor that may limit their wide adoption.
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The COVID-19 pandemic had disrupted the manufacturing operations of various industries across the globe, which had drastically reduced the demand for automotive speakers. The automotive industry halted their production and supply chain activities due to the COVID-19 pandemic. Therefore, the demand for automotive speakers was adversely affected by the COVID-19 pandemic. As the COVID-19 situation normalizes, the automotive speakers market started recovery as the industrial operations were normalized after the recovery.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Automotive Speaker Market by Segment
By Speaker Type
- Subwoofer
- Midbass
- Midrange
- Tweeter
By Vehicle Type
- Passenger Car
- Commercial Vehicle
By Application
- Voice Assistance
- Entertainment
- Warnings and Alerts
- Guidance and Navigations
- Automatic Pedestrian Alert System
Global Automotive Speaker Market Report by Region
North America
- US
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global automotive speaker market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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