Press release
Car Audio Market 2023 - Competitive Research, Industry Status, Key Drivers And Forecast To 2032
Car Audio Market Analysis
Car Audio Market Size, Growth Rate, And Forecast
The global car audio market size is expected to grow from $9.03 billion in 2022 to $9.82 billion in 2023 at a compound annual growth rate (CAGR) of 8.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global car audio market size is expected to reach $13.19 billion in 2027 at a CAGR of 7.6%.
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Car Audio Market Drivers
The increasing popularity of autonomous cars is expected to propel the growth of the car audio market going forward. Autonomous cars refer to self-driving cars, driverless cars, or a vehicle that can operate without human intervention or assistance, sense their surroundings, and function without human intervention. Audio analytics such as car audio software are enhancing the look, feel, and functionality of autonomous vehicles by providing quicker installations, improved sound quality, and many other advanced options.
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Car Audio Market Segments
1) By Component: Speaker, Amplifier, DSP, Microphone, Tuner
2) By Make Type: Branded/Premium Audio Systems, Non-Branded Audio Systems
3) By Technology: Voice Recognized Audio System, Non-Voice Recognized Audio System
4) By Sales Channel: Original Equipment Manufacturer (OEM), Aftermarket
5) By Application: Passenger Vehicle, Commercial Vehicle
By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the car audio market.
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Car Audio Market Key Players
Major competitors in the car audio market include Alpine Electronics Inc., Harman International, Clarion Co. Ltd., JVC Kenwood Corporation, Panasonic Corporation, Pioneer Corporation, Sony Corporation.
The Business Research Company's "Global Car Audio Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.
The Table Of Content For The Car Audio Market Include:
1. Executive Summary
2. Car Audio Market Characteristics
3. Car Audio Market Trends And Strategies
4. Car Audio Market - Macro Economic Scenario
5. Car Audio Market Size And Growth
.......
26. Africa Car Audio Market
27. Car Audio Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Car Audio Market
29. Car Audio Market Future Outlook and Potential Analysis
30. Appendix
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