The global automotive audio market is anticipated to grow at a CAGR of 4.0%during the forecast period (2022-2028).The major factor expected to drive the market growth is the rapidly growing digitalization that has brought forward advanced technological developments and innovations in the automotive industry to enhance the performance of vehicles globally. In addition, the growing demand among people for new entertainment systems and the rising technological advancements in speaker systems are some factors the propel the growth of the market during the forecast period. Additionally, increasing demand for aftermarket sound systems from major market players, rapid changes in consumer lifestyle along with shifting inclination toward the usage of onboard infotainment systems led to the growth of the global automotive audio market during the forecast period.
A full report of Global Automotive Audio Market is available at:https://orionmarketreports.com/global-automotive-audio-market/107161/
Some major players in the market include Alpine Electronics Inc., Bose Corp., and Harman International, among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, new product launches, and collaborations, to stay competitive in the market. For instance, in January 2021, Harman International entered into a partnership with Iptor for technology development and extensive user experience work with Harman’s design division Humen, based in New York, the US. The company added that the partnership is for developing the upcoming Iptor DC1 v12, as Iptor considers user interface and experience at the center point of all future solution development. Moreover, in September 2020, Sonus Faber announced partnership with Maserati to provide sound systems for Maserati’s upcoming MC20 supercar which comes with the new system of a 695-watt amplifier that controls 12 speakers and channels.
Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Product Type
- By Vehicle Type
- By Component
- By Technology
- By Sales Channel
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape-Alpine Electronics Inc., Bose Corp., and Harman International, among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
GlobalAutomotive AudioMarket Report by Segment
By Product Type
- 2-Way Speaker (Component, Coaxial)
- 3-Way Speaker
- 4-Way Speaker
By Vehicle Type
- Passenger Vehicle
- Commercial Vehicle
By Technology
- Voice Recognized Audio System
- Non-Voice Recognized Audio System
By Component
- Head Unit
- Amplifier
- Speaker
- Others
By Sales Channel
- Original Equipment Manufacturers (OEMs)
- Aftermarket
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