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Automotive Speaker: Core Growth Enabler in the The Surging Demand For Entertainment Fuels Growth In The Automotive Speaker Market Market, 2025
Automotive Speaker Market Growth
What Will the Automotive Speaker Industry Market Size Be by 2025?
In recent years, the size of the automotive speaker market has experienced substantial growth. It is projected to expand from $6.26 billion in 2024 to $6.73 billion in 2025, with a compound annual growth rate (CAGR) of 7.4%. The growth during the historical period can be attributed to the surge in in-car entertainment, advancements in audio technology, an escalated focus on interior comfort, the growth of the automotive market, and consumer demand for high-end sound systems.
What's the Long-Term Growth Forecast for the Automotive Speaker Market Size Through 2029?
In the next several years, the automotive speaker market is projected to witness significant growth, escalating to a valuation of $9.38 billion by 2029, with a compound annual growth rate (CAGR) of 8.6%. This surge during the forecast period can be traced back to elements such as the adoption of sophisticated connectivity attributes, vehicle electrification, the need for a unique audio experience, compact and lightweight speaker structures, and growing curiosity regarding autonomous vehicle entertainment. Major forecast period trends comprise high-definition audio systems, the implementation of smart voice assistants, 3D audio technology, the usage of eco-friendly materials in the production of speakers, and augmented reality (AR) audio experiences.
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What Are the Key Growth Drivers Fueling the Automotive Speaker Market Expansion?
The surge in preference for various entertainment mediums is set to fuel the progression of the automotive speaker market. These entertainment forms, which can include music, are sought after by consumers, leading to an increased utilization of speakers in vehicles. For example, a Mobility survey conducted by S&P Global, a U.S-based capital market firm, in May 2023, demonstrated that out of 2,524 global survey participants, sound quality was prioritized over flashy specification figures. Over 70% of consumers expressed their interest in having a premium audio system in their future vehicle. Consequently, this growing interest in entertainment choices is accelerating the expansion of the automotive speaker market.
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What Are the Key Trends Driving Automotive Speaker Market Growth?
The automotive speaker market is witnessing a significant trend, with new and groundbreaking product developments taking center stage. Leading participants in the market are intensely focusing on manufacturing pioneering products, thereby fortifying their market standing. A case in point is the June 2023 launch of a new car speaker and subwoofer assortment by the Japanese conglomerate, Sony. This GS lineup, which includes the XS-162GS, XS-160GS, XS-130GS, XS-690GS, XS-680GS speakers and XS-W124GS, and XS-W104GS subwoofers, aims to provide unrivaled, detailed sound, transforming each trip into a supreme audio encounter. Besides, Harman International Industries Inc., an American audio electronics enterprise providing automotive speakers, unveiled its JBL Club 605 CSQ, a Bluetooth car speaker system, in September 2021. What sets this speaker apart is its carbon fiber woofer equipped with plus one architecture, promising robust bass and increased longevity.
How Is the Automotive Speaker Market Segmented?
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
Subsegments:
1) By 2-Way Speaker: Coaxial 2-Way Speakers, Component 2-Way Speakers
2) By 3-Way Speaker: Coaxial 3-Way Speakers, Component 3-Way Speakers
3) By 4-Way Speaker: Coaxial 4-Way Speakers, Component 4-Way Speakers
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Which Companies Are Leading the Charge in Automotive Speaker Market Innovation?
Major companies operating in the automotive speaker market include 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.
Which Regions Are Leading the Global Automotive Speaker Market in Revenue?
North America was the largest region in the automotive speakers market in 2024. The regions covered in the automotive speaker market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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