Selbyville, Delaware According to the research report titled ‘Automotive Speaker Market Size By Type, By Vehicle Type, By Sales Channel , Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020 – 2026’, available with Market Study Report LLC, global automotive speaker market is expected to grow substantially during 2020-2026.
Focus towards adopting high quality sound systems coupled with increasing number of collaborations between audio solution providers and vehicle manufacturers are some of the major factors driving the growth of global automotive speaker market.
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Automotive audio systems today have become considerably complex, consisting of various types of speakers as well as sub-woofers, which are installed across the vehicle cabin in order to improve the driving experience. Technological advancements have resulted in development of audio systems which can perform numerous activities such as telecommunication and navigation services, hands-free calling, as well as car telematics and diagnostics among others, thereby stimulating global automotive speaker industry outlook.
Key companies operating in this business vertical are focusing on integrating scalable, high quality and performance sound systems. Apart from this, inclination towards using high quality vehicle infotainment systems are aiding the expansion of global automotive speaker market.
As per type, the market is split into 3-way speakers, 2-way speakers and 4-way speakers. Among these, the report states that 2-way speakers segment is estimated to generate considerable revenues for global automotive speaker industry in the upcoming years, primarily due to its affordable nature.
Moving on to vehicle type, global automotive speaker industry is segmented into commercial vehicles as well as passenger cars, among which the latter is likely to expand significantly during the study period. Growing demand for sound systems with improved quality in passenger cars is fueling the segmental share.
In terms of sales channel, the market is split into aftermarket and OEM segments. According to the report, worldwide automotive speaker market size from OEM segment is expected to grow with a CAGR of 5.5% through 2026, primarily driven by rising number of strategic collaborations among automakers and audio system suppliers.
Considering the geographical landscape, the aftermarket sales channel for automotive speakers in Latin America is estimated to witness commendable growth in the ensuing years, owing to rising adoption of affordable and sound enhancing audio systems in vehicles.
The major companies in global automotive speaker market are Sound United LLC, Pioneer Corporation, Sony Corporation, JVC Kenwood Corporation, Panasonic Corporation, Kicker, JL Audio Inc., Focal JMLAB, Clarion Co. Ltd., Harman International Industries Inc., Continental AG, Elettromedia S.r.l., Dynaudio A/S, Bose Corporation, Blaupunkt GmbH, and Alpine Electronics Inc. among others.
Question & Answer: Automotive Speaker Market
Question 1: What factors are driving the growth of global automotive speaker market?
Answer: Focus towards adopting high quality sound systems coupled with increasing number of collaborations between audio solution providers and vehicle manufacturers are some of the major factors driving the growth of global automotive speaker market.
Question 2: Why are automotive speakers in passenger cars witnessing high demand?
Answer: Rising adoption of sound systems with improved quality in passenger cars is contributing towards popularity of automotive speakers across the globe.
Question 3: How is the competitive landscape of global automotive speaker industry defined?
Answer: The major companies in global automotive speaker market are Sound United LLC, Pioneer Corporation, Sony Corporation, JVC Kenwood Corporation, Panasonic Corporation, Kicker, JL Audio Inc., and Focal JMLAB among others.
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