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Automotive Audio System Market Latest trends 2019 | Recent Industry Analysis to 2025
Automotive Audio System Market
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The growing adoption of head unit displays in sound systems to improve human interaction is accelerating the automotive audio system market demand. The technological advancement in the display unit is growing rapidly with the integration of modern features including voice commands, touch panels, customization of playlists, and voice adjustments. Moreover, a rise in the usage of the device for navigation and making direct calls with Bluetooth connectivity to the cell phone will also drive the market growth. For instance, in July 2019, Sony Corporation announced the launch of XAV-AX7000 Car AV Receiver that includes high-power sound and smartphone connectivity features.
Technological advancement & innovation in the automotive audio system market is the major factor augmenting the competition among players. The companies are engaged in introducing modern solutions that enhance sound performance and user convenience for playing their favorite playlists. Speakerless audio system is being widely adopted in the market due to its advanced features such as lower weight, reduced box volume, and low power consumption. For instance, in October 2017, Continental AG announced the launch of a speakerless audio system, Ac2ated Sound, for automobile vehicles to considerably reduce the weight of sound systems. The speakerless system generates sound through surface vibrations. The sound waves are generated by compact actuators, which are replacing the use of loudspeakers, thereby augmenting the automotive audio system market growth.
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Rise in the disposable income and high spending capability of the citizens in North America will drive the automotive audio system market growth. An increase in sales of passenger cars in the U.S. is attracting the manufacturers in the market to establish their business base in the region. SUV and sedan cars are witnessing the increased installation of the modern audio system to provide enhanced in-car audio quality at an affordable range. The manufacturers are engaged in partnerships to develop advanced systems for the economic range of vehicles.
The key players in the automotive audio system market are Pioneer Corporation, Panasonic Corporation, Kenwood Corporation, Alpine Electronics, Inc., Harman International Industries, Inc., Sony Corporation, Clarion Co Ltd., Bose Corporation, JL Audio, and Blaupunkt GmbH. These companies are adopting various strategies and techniques to acquire a large customer base in the market. For instance, in November 2016, Samsung Electronics Co. Ltd. announced the acquisition of Harman International for USD 8 billion. This acquisition will allow the company to target the market with a wide range of audio solutions.
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