The rise in automotive sales and high demand of improved sound system is driving market growth. Increased per capita income, improved in the living of standard and increased expenditure on automobile accessories is further fueling the market growth. Also, technological advancement for improved and user-friendly audio system is likely to push the market growth upwards in the forecasting period. Moreover, rising penetration of IoT, rising number of tech-savvy car owners and high demand of high-end audio system is further boosting the market growth.
The latest report by Value Market Research expects the Global Car Stereo Market was valued at USD 30 billion in 2017 and is likely to reach USD 46.5 billion by 2024 with CAGR of 6%.
Aftermarket emerged as the leading application
In 2017, Aftermarket dominated the application segment and has accounted for over 45% of the total market share. Aftermarkets sales offer advantages such as superior performance, better customization, reliability, functionality and are relatively inexpensive is driving the segment growth.
Multimedia dominated the type segment
In 2017, Multimedia emerged as the leading type segment and has accounted for X.X% of the total market share. Owing to superior graphics such as GPS navigation, touchscreen display, Bluetooth usability, better audio quality, and convenient stereo controls are major factors driving the market growth.
North America led the regional market
Geographically, North America has dominated the market by accounting for over 33% of the total market share in 2017. The rise in sales of luxury vehicles along with high demand for the better audio system is driving the market growth in North America.
Key players in 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 prominent vendors of the market
As per this study the Global Car Stereo Market was valued USD 30 BN (by revenue) in 2017 and is anticipated to reach USD 45.1 BN by 2024 with a CAGR of 6%.
Car stereo system refers to a part of the automobile audio system that is embedded in the dashboard, often used for infotainment. It is alternatively known as an audio receiver or head unit. It includes CD player; touch screen displays, radio tuner, auxiliary inputs, amplifier, and equalizer. Some advanced car stereo systems have add-on features such as dashcam, Wi-Fi connectivity, Bluetooth and GPS navigation system.
Growing automotive industry on account of rising car sales in major driver driving the market growth. Rising adoption of IoT and the increased number of tech-savvy population is again driving the market growth. The rise in disposable income, betterment in living standard and increased expenditure on automobile accessories are 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.
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 stereo.
The broad car stereo market has been sub-grouped into type and application. 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.
- CD Receiver
- DVD Receiver
- Multimedia Receiver
Furthermore, the report comprises of the geographical segmentation, which mainly focuses on current and forecast demand for car stereo 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 Stereo 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 stereo 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 Stereo
- Report Description
- Objectives Of The Study
- Research Scope
- Research Methodology
3. MARKET ANALYSIS
- Market Highlight
- Global Car Stereo Market: Snapshot
4. CAR STEREO MARKET ANALYSIS BY TYPE
- Porter’s Five Forces Analysis
- Value Chain Analysis
5. CAR STEREO MARKET ANALYSIS BY APPLICATION
- Market In CD Receiver
- Market In DVD Receiver
- Market In Multimedia Receiver
6. CAR STEREO MARKET ANALYSIS BY GEOGRAPHY
- Market In OEM
- Market In Aftermarket
7. COMPETITIVE LANDSCAPE OF THE CAR STEREO 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 Segment
8. COMPANY PROFILES OF THE CAR STEREO 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 Stereo
Table 2. Global Car Stereo Market By Type
Table 3. Global Car Stereo Market By Application
Table 4. Global Car Stereo Market By Geography
Table 5. North America Car Stereo Market
Table 6. Europe Car Stereo Market
Table 7. Asia Pacific Car Stereo Market
Table 8. Latin America Car Stereo Market
Table 9. Middle East And Africa Car Stereo Market
Table 10. Partnership/Collaboration/Agreements
Table 11. Mergers And Acquisitions
Table 12. New Product Development
Table 13. Other Developments
LIST OF FIGURES
Fig. 1. Market Segmentation Of Car Stereo Market
Fig. 2. Top-Down Approach
Fig. 3. Bottom-Up Approach
Fig. 4. Market Highlights Of Car Stereo
Fig. 5. Value Chain Analysis
Fig. 6. Porter’s Five Forces Analysis
Fig. 7. Global Car Stereo Market By Type
Fig. 8. Global Car Stereo Market By Application
Fig. 9. Global Car Stereo Market By Geography
Fig. 10. North America Car Stereo Market
Fig. 11. Europe Car Stereo Market
Fig. 12. Asia Pacific Car Stereo Market
Fig. 13. Latin America Car Stereo Market
Fig. 14. Middle East And Africa Car Stereo Market
Fig. 15. Market Share Of Car Stereo Companies
Fig. 16. Recent Developments In Car Stereo Industry
* Kindly note that the above listed are the basic tables and figures of the report and are not limited to the TOC.