About Vehicle Sound System
In today’s time, sound systems are becoming more popular due to an increased preference for in-vehicle entertainment. Increasing ownership of passenger cars with the growing population across the globe will accelerate the adoption of vehicle sound systems. Further, the technological advancements and inclination towards AI-powered infotainment systems and voice recognition systems will boost the demand for hi-fi audio systems with excellent sound quality. The increasing demand for premium audio systems in the new high-end luxury cars and the growing need for personalized and natural in-car audio experience have created significant opportunities for the global market.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that Japanese Vendors will contribute the maximum growth to Global Vehicle Sound System market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Bowers & Wilkins (United Kingdom), Sony Corporation (Japan), Dynaudio (Denmark), Samsung Electronics (South Korea), Clarion (Japan), Pioneer Corporation (Japan), Acura (Japan), Alpine Electronics (Japan), Bose Corporation (United States), Panasonic (Japan), Cerwin Vega (United States), Devialet (France), Rockford Fosgate (United States) and KEF (United Kingdom) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Vehicle Sound System market by Type (Stereo Speakers and MP3 Music Players), Application (Passenger Cars and Commercial Vehicles) and Region.
On the basis of geography, the market of Vehicle Sound System has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, 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). If we see Market by Sales Channel, the sub-segment i.e. Online will boost the Vehicle Sound System market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Connectivity, the sub-segment i.e. Bluetooth will boost the Vehicle Sound System market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Emerging Advancements in the Vehicle Sound System like Network-Enabled Infotainment, Voice Recognition, and Noise Cancellation Features and Introduction of 3D Sound Technology and Android Operating Systems to Offer HD Sound Quality Music and Immersive Audio Experience
Market Growth Drivers:
Growing Adoption of Premium Sound Systems in New Mid-Range and Luxury Vehicles, Consumers’ Inclination Towards the MP3 Music Players with the Smartphone Connectivity and Interactive Display in Most Passenger Cars and Surging Demand for In-Vehicle Entertainment by the Passengers in Commercial Vehicles Will Boost the Market
Challenges:
Lack of Excellent Sound Quality and Inferior Quality of Cheap Vehicle Sound Systems and Complexity in the Installation of Aftermarket Stereo Systems with High-Quality Speakers and Amplifiers
Restraints:
High Cost Associated with Premium Vehicle Sound Systems Due to Requirement of High-Quality Speakers and Amplifiers
Opportunities:
Increasing Number of Mutant Vehicles with Sound Systems and Emerging Trend of Connected Car Technology and Robust Growth of Electric Vehicles Across the Globe
Market Leaders and their expansionary development strategies
In October 2020, Sound United acquired Bowers & Wilkins, a leading designer and manufacturer of luxury home audio speakers, headphones, custom installation products, wireless speakers, and branded audio systems in the automotive and television markets.
In February 2022, Sony announced the new addition to its premium mobile ES1 car subwoofer, speaker, and amplifier lineup to deliver superior in-car entertainment experience. The new range includes XS-W122ES, XS-W124ES, XS-163ES, XS-692ES, XM-5ES, XM-4ES, and XM-1ES and comes with high-quality sound and seamless usability.
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Vehicle Sound System Manufacturers, Vehicle Sound System Suppliers & Distributors, Venture Capitalists and Private Equity Firms, End-Users and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.