Car Electronics Accessories and Communication Market to Cross revenue of US$ 100.75 Bn by the end of 2024

Car Electronics Accessories and Communication Market 2022

According to a recent report published by Persistence Market Research titled "Car Electronics Accessories and Communication Market: Global Industry Analysis and Forecast 2020-2025", the global Car Electronics Accessories and Communication market is anticipated to reach a market revenue of US$ 100.75 Bn by the end of 2024, registering a CAGR of 5.7% over an eight-year forecast period (2020-2025).

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In the report, Persistence Market Research analyzes the key factors and trends impacting overall market performance of the global car electronics and communication accessories market.

Rising consumer inclination towards an entertaining driving experience, technically advanced car electronic accessories and communication systems available today, and an overall growth in the automotive industry are key factors likely to boost the growth of the global car electronics and communication accessories market over the forecast period. Increased consumer spending on car accessories and a rising demand for advanced car accessories and communication systems is also fueling growth of the global car electronics and communication accessories market.

Key Companies- 

• Pioneer Corporation
• Garmin Ltd.
• Sony Corporation
• Alpine Electronics, Inc.
• Delphi Automotive
• TomTom Internationa
• JVC Kenwood Corporation
• Blaupunkt
• Lighterking Enterprise Co. Ltd.
• Others

Complete Report Details@https://www.persistencemarketresearch.com/market-research/car-electronics-and-communication-accessories-market.asp

However, availability of counterfeit and inferior quality car electronics and communication accessories along with the inherent design complexity attached to car electronics and communication accessories are some factors expected to hinder sustained growth of the global car electronics and communication accessories market in the next eight years. A huge fragmentation of the global car electronics and communication accessories market is also likely to adversely impact market growth over the forecast period.

The global car electronics and communication accessories market is likely to witness certain key trends between 2016 and 2024. Some of the observed trends include - adoption of online configuration tools for car accessories, growth of e-retailing in the automotive aftermarket in emerging markets, consolidation of different market distribution channels, and increasing number of joint ventures by car electronics and communication accessories manufacturers. 

This segment is estimated to be valued at US$ 15.45 Bn in 2020 and is expected to reach US$ 23.96 Bn by 2025. In the vehicle type category, the Passenger Cars segment is likely to emerge as the dominant segment, estimated to be valued at US$ 60.14 Bn in 2020 and expected to reach US$ 93.39 Bn by 2025, with a CAGR of 5.7% over the forecast period.

Among regions, the Asia-Pacific market is estimated to be valued at US$ 21.61 Bn by 2020 end and is expected to register a CAGR of 5.6% over the forecast period. Europe is likely to be the second largest market by value and is estimated to be valued at US$ 20.50 Bn by 2020 end with a CAGR of 5.9%.

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Key Questions Answered in Car Electronics Accessories and Communication Market Report -

• Who are the Major Manufacturers and Suppliers of Car Electronics Accessories and Communication?
• What will the Car Electronics Accessories and Communication Market growth rate in Future?
• What are the key factors driving the global Car Electronics Accessories and Communication Market?
• Who are the key manufacturers in Car Electronics Accessories and Communication Market space?
• What are the opportunities and threats faced by the vendors in the global Car Electronics Accessories and Communication industry?
• What are sales, revenue, and price analysis by regions of Car Electronics Accessories and Communication industry?

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