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Automotive Speaker Global Market Insights: Growth Drivers, Size & Forecasts to 2029
Automotive Speaker Market Size
What Is the Forecasted Market Growth Rate of the Automotive Speaker Industry?
The automobile speaker industry has seen substantial growth in recent years, with the market forecasted to increase from $6.26 billion in 2024 to $6.64 billion in 2025, representing a compound annual growth rate (CAGR) of 6.0%. The factors driving the growth during this historic period include the emergence of in-car entertainment, advances in audio technology, a greater emphasis on interior comfort, the widening scope of the automobile market, and an increased consumer desire for premium sound systems.
How Will the Automotive Speaker Market Size Evolve From 2025 to 2029?
The automobile speaker market is projected to experience substantial expansion in the ensuing years, eventually reaching a value of $9.06 billion by 2029, with an 8.1% compound annual growth rate (CAGR). This spike in growth during the forecast period could be traced back to the incorporation of cutting-edge connectivity features, vehicle electrification, a need for personalized audio experiences, and the rise of compact, lightweight speaker models. Increasing fascination with autonomous vehicle entertainment also contributes to this trend. The forecast period will also see big movements towards high-definition audio systems, smart voice assistant integration, 3d audio technologies, use of eco-friendly materials in speaker production, and augmented reality (AR) based audio experiences.
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What Are the Main Growth Drivers in the Automotive Speaker Market Today?
The surging need for entertainment mediums is anticipated to push the automotive speaker market's expansion in the future. These entertainment mediums encompass various platforms for amusement. The diverse entertainment preferences such as musical choices of customers will lead to an increased necessity for speakers in vehicles. For example, a May 2023 Mobility survey by S&P Global, a capital market firm in the US, pointed out that sound quality is more important than showy specifications to 2,524 survey participants globally. Over 70% of consumers want a high-end audio system in their upcoming vehicle. Hence, the escalating demand for entertainment mediums is fueling the rise of the automotive speaker market.
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Which Automotive Speaker Market Segment Is Expected to Lead Through 2029?
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
Which Market Trends Are Expected to Dominate Automotive Speaker Industry Growth?
The introduction of novel product innovations is an escalating trend in the automotive speaker industry. To consolidate their hold on the market, major companies are prioritizing the creation of unique and innovative products. For instance, Sony - a Japanese multinational firm, rolled out its GS car speaker and subwoofer lineup in June 2023, which included the XS-162GS, XS-160GS, XS-130GS, XS-690GS, XS-680GS speakers, and XS-W124GS and XS-W104GS subwoofers. The GS series aims to offer a smooth, detailed sound that enhances everyday commutes into impressive audio experiences. In addition to this, in September 2021, Harman International Industries Inc., a prominent US-based audio electronics company, unveiled its JBL Club 605 CSQ, a car speaker system with Bluetooth connectivity. This innovative speaker comes with a unique carbon fiber woofer with plus one architecture, promising a potent bass and long-lasting performance.
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Which Companies Hold the Largest Market Share in the Automotive Speaker Sector?
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.
Where Is the Automotive Speaker Market Experiencing the Highest Growth?
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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Asia +44 7882 955267 & +91 8897263534,
Europe +44 7882 955267
Email: saumyas@tbrc.info
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