What is Car Audio Market?
Car Audio are the equipment that are installed in a vehicle to provide entertainment in the vehicles. The Vehicles audio includes FM radio, 8-Track tape players, cassette players, CD players, DVD players, Blu-ray players, navigation systems, Bluetooth telephone integration etc. There are several developments in the technology of car audio system such as voice-enabled audio systems and smartphone controlled audio systems. Audio systems have become main equipment for drivers and occupants, as the time spent in passenger cars by consumers is increasing due to traffic congestion and increase in daily work commute by personal vehicles.
Highlights from Car Audio Market Study
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Alpine Electronics (Japan), Blaupunkt GmbH (Germany), Bose Corporation (United States), Clarion Co., Ltd. (Japan), Delphi Automotive PLC (United States), Harman International Industries, Inc. (United States), Panasonic Corporation (Japan), Pioneer Corporation (Japan), Sony Corporation (Japan) and HiVi (United States) |
The automotive premium audio systems market is fragmented as the market has a number of companies that offer various products such as managed hosting services, and interconnection and cloud enablement solutions. The companies are exploring the market by expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail competitive advantage through combined synergies. Research Analyst at AMA predicts that Japanese and United States Vendors will contribute to the maximum growth of Global Car Audio market throughout the forecasted period.
Alpine Electronics (Japan), Blaupunkt GmbH (Germany), Bose Corporation (United States), Clarion Co., Ltd. (Japan), Delphi Automotive PLC (United States), Harman International Industries, Inc. (United States), Panasonic Corporation (Japan), Pioneer Corporation (Japan), Sony Corporation (Japan) and HiVi (United States) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are Infinity (United States), Coagent (China), RoadRover Technology (Hong Kong), Kenwood Corporation (Japan) and JL Audio (United States). Car Audio Market Segmentation:
Scope | Sub-Segments |
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Application / End User | Passenger Vehicles and Commercial Vehicles |
Type | Ordinary Audio and DVD Audio |
Sales Channel | OEM,Aftermarket |
On the basis of geography, the market of Car Audio has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing Customer Preference for Advanced Entertainment Solutions and Technological Advancement for Development of Innovative Car Stereo System
Market Growth Drivers:
Increasing Demand of Customized Car Audio System among Youth and Growing Demand for Interior Car Accessories
Challenges:
One have to replace speaker and subwoofers while upgrading the amplifiers and receivers
Restraints:
Expensive to Replace the System
Opportunities:
Growing R&D activities and continuously launching new products
Key Target Audience
Manufacturers of Car Audio, Suppliers of Car Audio, Wholesalers, Distributors and Retailers of Car Audio, Automobile Industry, Research Firms and Governmental Bodies
Market Leaders & Development Strategies
On May 9, 2019- Panasonic and Toyota agreed to Establish Joint Venture Related to Town Development Business. Both companies are aiming to fuse the mobility service imitative promoted by Toyota and the lifestyle update initiative spearheaded by Panasonic.
On Jan. 4, 2019- Delphi Technologies collaborates with TomTom on Intelligent Driving. The two companies will collaborate on electronic and software applications designed to further optimize vehicle fuel efficiency and emissions through the use of real-time mapping data.