Rising car sales along with growing demand for interior car accessories is driving the market growth. Growing customer preference for advanced entertainment solutions for better driving experience is further impacting the market growth positively. Also, the rise in per capita income, improvement in living of standard and increased spending on audio system especially by young population is further boosting the market growth. Moreover, technological advancement for development of innovative car stereo system is further pushing the market growth uphill.
The latest report by Value Market Research expects the Global Car Audio Market was valued USD 21 billion in 2017 and is likely to reach at USD 26.7 billion by 2024 with CAGR of 3.5%.
2 WAY SPEAKER IS LEADING THE PRODUCT TYPE
2 way sound system is dominating the segment owing to its balanced sound quality and relatively cheap over the others is driving the segment growth. Technological advancement in terms of sound and product quality is another factor that propels the demand.
OEM DOMINATED THE SALES CHANNEL
By sales channel, OEM led the segment owing to rising considerable adoption of the audio system by different car manufacturing companies. Growing R&D activities and continuously launching new products into the market are another factor that fuelling the demand. In addition to these, rising demand of customized car audio system among youth surge the demand.
PASSENGER CARS DOMINATED THE APPLICATION SEGMENT
In 2017, passenger cars dominated the application segment by accounting maximum market share. Rise in sales of passenger cars is majorly driving the segment growth. Also, risen demand for SUV and sedan passenger cars owing to better seating arrangement, strong body architecture, relatively large cabin space and better affordability is driving its demand. This is again contributing significantly in segment growth.
ASIA PACIFIC EMERGED AS THE LEADING REGIONAL MARKET
Geographically, Asia Pacific dominated the market by accounting over 30% of the total market share in 2017. Rise in automotive sales, increased disposable income and increasing demand for in-car infotainment system especially in emerging countries such as China and India is driving the major market growth. Additionally, presence of important players is again fueling the regional market growth.
KEY PLAYERS OF THE MARKET
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 are the players ruling the car audio market.
As per this study, the Global Car Audio Market was valued at USD 21 BN (by revenue) in 2017 and is anticipated to reach USD 26.7 BN by 2024 with a CAGR of 3.5%.
Car audio system is used to provide in-car entertainment and information solution. It mainly consists of a head unit, speaker and amplifier to impart better audio quality to the listener. Some advanced car audio systems have additional features such as smartphone integration, USB connections, animated displays units, HD radio system, GPS navigation, hands-free calling, touch screen monitors and a parametric equalizer.
Growing automotive industry on account of rising car sales in major driver driving the market growth. Rise in disposable income, betterment in living standard and increased expenditure on automobile accessories to impart better comfort is further fueling the market growth. In addition to this, technological advancement for the development of innovative products is likely to boost the market penetration in the forecasting period. Rising R&D by key players for production of an advanced audio system to nullify the cutthroat competition is further pushing the market growth upwards.
This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter’s five forces analysis, market attractiveness analysis and value chain analysis. These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities. Additionally, these tools also provide a detailed analysis of each application/product segment in the global market of car audio.
The broad car audio market has been sub-grouped into product type, application and sales channel. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.
By Product Type
- 2 Way Speakers
- 3 Way Speakers
- 4 Way Speakers
‘By Sales Channel
- Commercial Cars
- Passenger Cars
Furthermore, the report comprises of the geographical segmentation, which mainly focuses on current and forecast demand for car audio in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.
Europe Car Audio Market By Revenue (USD MN)
The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the car audio market include 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. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.
A combination of primary and secondary research has been used to determine the market estimates and forecasts. Sources used for secondary research include (but not limited to) Paid Data Sources, Company Websites, Technical Journals, Annual Reports, SEC Filings and various other industry publications. Specific details on methodology used for this report can be provided on demand.
2. EXECUTIVE SUMMARY
- Introduction To Car Audio
- Report Description
- Objectives Of The Study
- Research Scope
- Research Methodology
3. MARKET ANALYSIS
- Market Highlight
- Global Car Audio Market: Snapshot
4. CAR AUDIO MARKET ANALYSIS BY PRODUCT TYPE
- Porter’s Five Forces Analysis
- Value Chain Analysis
5. CAR AUDIO MARKET ANALYSIS BY APPLICATION
- Market In 2 Way Speakers
- Market In 3 Way Speakers
- Market In 4 Way Speakers
- Market In Others
6. CAR AUDIO MARKET ANALYSIS BY SALES CHANNEL
- Market In Commercial Cars
- Market In Passenger Cars
7. CAR AUDIO MARKET ANALYSIS BY GEOGRAPHY
- Market In OEM
- Market In Aftermarket
8. COMPETITIVE LANDSCAPE OF THE CAR AUDIO COMPANIES
- North America (NA)
- North America Market Estimates
- North America Market Estimates By Country
- United States (U.S.) Market Estimates By Segments
- Rest Of North America Market Estimates By Segments
- Europe (EU)
- Europe Market Estimates
- Europe Market Estimates By Country
- United Kingdom (UK) Market Estimates By Segments
- Germany Market Estimates By Segments
- France Market Estimates By Segments
- Rest Of Europe Market Estimates By Segments
- Asia Pacific (APAC)
- Asia Pacific Market Estimates
- Asia Pacific Market Estimates By Country
- China Market Estimates By Segments
- Japan Market Estimates By Segments
- India Market Estimates By Segments
- Rest Of Asia Pacific Market Estimates By Segments
- Latin America (LA)
- Latin America Market Estimates
- Latin America Market Estimates By Country
- Brazil Market Estimates By Segments
- Rest Of Latin America Market Estimates By Segments
- Middle East And Africa (MEA)
- Middle East And Africa Market Estimates
- Middle East And Africa Market Estimates By Country
- Middle East Market Estimates By Segments
- Africa Market Estimates By Segments
9. COMPANY PROFILES OF THE CAR AUDIO INDUSTRY (Company Overview, Financial, Major Products & Recent Development)
- Market Competition
- Mergers And Acquisitions
- New Product Launches
- Other Developments
* Tentative TOC
LIST OF TABLES
- 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
- Sony Corporation
Table 1. Market Highlights Of Car Audio
Table 2. Global Car Audio Market By Product Type
Table 3. Global Car Audio Market By Application
Table 4. Global Car Audio Market By Sales Channel
Table 5. Global Car Audio Market By Geography
Table 6. North America Car Audio Market
Table 7. Europe Car Audio Market
Table 8. Asia Pacific Car Audio Market
Table 9. Latin America Car Audio Market
Table 10. Middle East And Africa Car Audio Market
Table 11. Partnership/Collaboration/Agreements
Table 12. Mergers And Acquisitions
Table 13. New Product Development
Table 14. Other Developments
LIST OF FIGURES
Fig. 1. Market Segmentation Of Car Audio Market
Fig. 2. Top-Down Approach
Fig. 3. Bottom-Up Approach
Fig. 4. Market Highlights Of Car Audio
Fig. 5. Value Chain Analysis
Fig. 6. Porter’s Five Forces Analysis
Fig. 7. Global Car Audio Market By Product Type
Fig. 8. Global Car Audio Market By Application
Fig. 9. Global Car Audio Market By Sales Channel
Fig. 10. Global Car Audio Market By Geography
Fig. 11. North America Car Audio Market
Fig. 12. Europe Car Audio Market
Fig. 13. Asia Pacific Car Audio Market
Fig. 14. Latin America Car Audio Market
Fig. 15. Middle East And Africa Car Audio Market
Fig. 16. Market Share Of Car Audio Companies
Fig. 17. Recent Developments In Car Audio Industry
* Kindly note that the above listed are the basic tables and figures of the report and are not limited to the TOC.