Global Car MP3 Market Overview:
Car MP3 is installed in a car to provide in-car entertainment. It enables to play rider's favorite music within the car while driving that helps to cut out long travel tiredness. The technological advancement in the automotive industry primarily focusing on increasing driver’s comfort and safety. The growing demand for car mp3 in passenger cars in increasing the growth of the car mp3 market.
Growth Drivers
- Increasing Use of Bluetooth based Car Mp3
- Rising Penetration of Smart Phones
- Increasing Disposable Income
Market Trends
- Trend for Car Mp3 with Voice Recognition Features
Roadblocks
- Noise and Power Consumption Issue
Opportunities
- Growing Demand for Multi-Color LCD Display Car Mp3
- Development of Connected Car Technologies
- Burgeoning Online Aftermarket Car Mp3
Challenges
- Availability of Substitute Products
Competitive Landscape:
The global car mp3 market is fragmented by numerous key players who have the bargaining power high. The intensity of rivalry appears to be high in this market as competitors there are numerous key players present and new private-labels are entering the market. Major players in the market are constantly working towards introducing innovative products and lowering production costs in order to enhance profitability.
Some of the key players profiled in the report are Pioneer Corporation (Japan), Kenwood Corporation (Japan), BOSS Audio (United States), JVC (Japan), Sony Corporation (Japan), PowerAcoustik Electronics (United States), Soundstream Inc. (United States), Topstar Electronics Co., Limited (China), Alpine Electronics, Inc (Japan), JBL (United States), Panasonic Corporation (Japan) and Lear Corporation (United States). Analyst at AMA Research see United States, China, and Japan Vendors to retain maximum share of Global Car MP3 market by 2026. Considering Market by Storage, the sub-segment i.e. Inbuilt will boost the Car MP3 market. Considering Market by Car Type, the sub-segment i.e. Commercial Cars will boost the Car MP3 market. Considering Market by Sales Channel, the sub-segment i.e. OEM will boost the Car MP3 market. Considering Market by Connectivity, the sub-segment i.e. USB will boost the Car MP3 market. Considering Market by Operating Mode, the sub-segment i.e. Manual will boost the Car MP3 market.
In January 2020, Panasonic entered into collaboration with Klipsch, a tech-driven audio company to deliver the revered "Klipsch Sound" and audiophile-quality performances to the in-vehicle experience. With this agreement Klipsch entered into the car audio business.
What Can be Explored with the Car MP3 Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Car MP3 Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Car MP3
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Car MP3 market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Car MP3 market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes New Entrants/Investors, Analysts and Strategic Business Planners, Car MP3 Manufacturer, Raw Material Suppliers, Dealers, Suppliers, Traders, and Distributors, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations and Automotive Industry.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.