Global Car Stereo Market to climb up and reach USD 48.6 BN mark by 2026
Posted On February 27, 2020
The Global Car Stereo Market value is expected to grow from USD 33.4 BN in 2019 to USD 48.6 BN by 2026 at a CAGR of 5.5% during 2020-2026 as per the market report by Value Market Research. Accumulating customer priority for intelligent recreational ways for better experience is influencing the growth of the market optimistically. Furthermore, the rise in per capita income coupled with a better standard of living and increased spending on the stereo system particularly by a youthful population is also stimulating the market growth. Further, the technical development of creative car stereo system is propelling the market growth for future advancements. Additionally, the growing teenage population and awareness for contemporary developments are stimulating the growth of the global car stereo market.
Vehicle stereo is an appliance launched in a vehicle to give entertainment and knowledge for the automobile holders. Continuous additions have incorporated FM radio, cassette players, CD and DVD players, navigation systems, Bluetooth telephone integration, and smartphone controllers. In the last few years, automakers have certainly amped up their sport with their basic equipment manufacturer systems. Every automobile stereo system comprises of three main elements -the initial is the radio or the head unit that governs the whole system and produces the audio signal. The second is an amplifier which enhances the power of the audio signal so that it can navigate the third element, the speakers that generate the sound.
The geographical and segmentation study covered in the report "Global Car Stereo Market Report By Type (CD Receiver, DVD Receiver, And Multimedia Receiver), By Application (OEM And Aftermarket) And By Regions - Industry Trends, Size, Share, Growth, Estimation And Forecast, 2019-2026" helps in understanding the upcoming trends of the market. The market drivers responsible for pushing the market growth are discussed in length in the report. The car stereo market opportunities are useful to identify the profit centres and take the strategic decision accordingly.
On the basis of type the market is segmented into CD receiver, DVD receiver, and multimedia receiver. The report identifies multimedia receiver as the leading segment which accounts for over 70% market share in 2018. By Application OEM and aftermarket are the segmentation studied in the report. OEM is the leading market accounting for over 45% share in 2018.
The regions covered in the market study are North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. The North America is the leading segment, as it holds the major share in the automobile sector also. This section throws light on the geographical spread of revenue and/or volume of the car stereo market.
The Report Segments Global Car Stereo Market –
- CD Receiver
- DVD Receiver
- Multimedia Receiver
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Players Profiled In the Report:
Alpine Electronics, Inc., Blaupunkt GmbH, Bose Corporation, Clarion Co., Ltd., Delphi Automotive PLC, Harman International Industries, Inc., JL Audio, Kenwood Corporation, Panasonic Corporation, Pioneer Corporation, and Sony Corporation.
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