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Automotive Speaker Market 2024 Opportunity Assessment, Production Analysis, Growth Rate And Forecast To 2033
Automotive Speaker Market
As per the report, the automotive speaker market size has grown strongly in recent years. It will grow from $5.88 billion in 2023 to $6.35 billion in 2024 at a compound annual growth rate (CAGR) of 8.0%. The automotive speaker market size is expected to see strong growth in the next few years. It will grow to $8.69 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%.
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The Surging Demand For Entertainment Fuels Growth In The Automotive Speaker Market
The rising demand for entertainment options is expected to propel the growth of the automotive speaker market going forward. The entertainment options refer to the idea of getting entertained through some mediums. The different entertainment options such as songs that are preferred by the consumers will result in the usage of speakers in automobiles. For instance, in May 2023, according to S&P Global (US-based capital market company) Mobility survey, the 2,524 global survey respondents stated sound quality matters more than gaudy specification numbers. More than 70% of consumers desire a premium audio system in their next vehicle. Therefore, the increasing demand for entertainment options is driving the growth of the automotive speaker market.
Unveiling The Sonic Future With Innovative Offerings In The Automotive Speaker Market
New product innovations have emerged as a key trend gaining popularity in the automotive speaker market. Major players operating in the automotive speaker market are focused on the development of new and innovative products to strengthen their market position. For example, in June 2023, Sony, a Japanese conglomerate company, announced its GS car speaker and subwoofer lineup, including the XS-162GS, XS-160GS, XS-130GS, XS-690GS, XS-680GS speakers, and XS-W124GS and XS-W104GS subwoofers. The GS lineup is designed to deliver smooth, detailed sound, that will turn an everyday journey into a real audio experience. Further, in September 2021, Harman International Industries Inc., a US-based audio electronics company that provides automotive speakers launched JBL Club 605 CSQ, a Bluetooth-enabled car speaker system. The new speaker is unique in such a way that it includes a carbon fiber woofer with plus one architecture, which claims to offer hard-hitting bass and long performance life.
The automotive speaker market covered in this report is segmented -
1) By Type: 2-Way Speaker, 3-Way Speaker, 4-Way Speaker
2) By Vehicle Type: Passenger Car, Commercial Vehicle
3) By Speaker Type: Subwoofer, Midbass, Midrange, Tweeter
4) By Application: Voice Assistance, Entertainment, Warnings and Alerts, Guidance and Navigation, Automatic Pedestrian Alert System, Other Applications
5) By Sales Channel: Original Equipment Manufacturer, After Market
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Major companies operating in the automotive speaker market report are Alpine Electronics Inc., Bose Corporation, JVCKenwood Corporation, Harman International Industries Inc., Pioneer Corporation, Sony Corporation, Dynaudio A/S, Clarion Co Ltd., Continental AG, Blaupunkt GmbH, Panasonic Corporation, JL Audio Inc., Altec Lansing LLC, Focal JM Lab, Stillwater Designs and Audio Inc., Lear Corporation, Metra Electronics Corp., Sanyo Electric Co. Ltd., Samsung Electronics Co Ltd., Sound United LLC, Boston Acoustics Corp., McIntosh Laboratory Inc., Bowers & Wilkins Group Ltd., Meridian Audio Ltd., Burmester Audiosysteme GmbH, Cadence Design Systems Inc., Cerwin-Vega Mobile, Resonance Inc., Grundig AG, Lucky-Goldstar Electronics Co. Ltd.
Contents of the report:
1. Executive Summary
2. Automotive Speaker Market Report Structure
3. Automotive Speaker Market Trends And Strategies
4. Automotive Speaker Market - Macro Economic Scenario
5. Automotive Speaker Market Size And Growth
…..
27. Automotive Speaker Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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