Automotive Loudspeaker Market
Automotive Loudspeaker Market Global Industry Assessment & Forecast
Segments Covered
- By Type 2-Way Speaker, 3-Way Speaker, 4-Way Speaker
- By Vehicle Type Passenger Car, Commercial Vehicle
- By Sales Channel OEM, Aftermarket
Snapshot
Forecast Years: | 2021 - 2028 |
Historical Years: | 2016 - 2020 |
Revenue 2021: | 4.25 Billion |
Revenue 2028: | 8.34 Billion |
Revenue CAGR (2021 - 2028): | 7.20% |
Fastest Growing Region (2022 - 2028) | Asia Pacific |
Customization Offered
- Cross-segment Market Size and Analysis for Mentioned Segments
- Additional Company Profiles (Upto 5 With No Cost)
- Additional Countries (Apart From Mentioned Countries)
- Country/Region-specific Report
- Go To Market Strategy
- Region Specific Market Dynamics
- Region Level Market Share
- Import Export Analysis
- Production Analysis
- Others Request Customization Speak To Analyst
Key Insights
The global Automotive Loudspeaker market was valued at USD
4.25 Billion in 2020 and is projected to reach USD 8.34 Billion by
2028, growing at a CAGR of 7.20%% from 2021 to 2028.
Years | Parameters |
---|---|
Historical Data (Actual Data) | 2016-2020 |
Base Year Data | 2020 |
Current Year Date | 2021 |
Projected year data | 2021-2026 |
Annual Market Size (2028) | 8.34 Billion |
Annual Market Size (2021) | |
CAGR (2021 - 2028) | 7.20%% |
Definition And Overview
Automotive loudspeakers are integrated into vehicles in order to provide in-vehicle entertainment and information to the consumers. There have been technological advancements in speaker systems to improve the overall audio quality and enhance the passenger experience.
This report provides an exhaustive analysis on all aspects of Automotive Loudspeaker industry including the market size for historic period of 2016–2019 and forecasts for 2021–2028 while 2020 is considered as a base year for estimations. The report covers dedicated chapters for each main segment while dedicated sections for each region cover thorough information on the drivers, restraints, opportunities and other such factors impacting global Automotive Loudspeaker market. Moreover, the report also covers in depth analysis on various marketing tools such as Porter’s Five Forces Analysis, Pricing Analysis, SWOT Analysis, PESTLE Analysis, and Player Positioning Analysis, among others. These tools are expected to aid the industry stakeholders in their decision making.
COVID-19 Impact Analysis
When the Covid19 pandemic started in China last
year it sends its shock waves to countries across the globe. And as the number
of cases was on the rise, it enforced the governments across the world to take
severe actions like border seals, lockdown, and implementing strict social
distancing measures, in order to stop the impending catastrophe. These actions
had a dramatic impact on the economy, as the industrialist across the globe
were forced to halt their production, leading to supply chain disruptions and
impairing of various industries. Thus, plummeting the global markets. However,
it is expected that reopening of trade activities, the market will witness
steady growth in demand in the coming years. The impact of COVID-19 on the
market demand is considered while estimating the current and forecast market
size and growth trends for all the regions and countries. The report provides a completely separate
chapter for COVID-19 Impact Analysis. This chapter includes: o
Impact Assessment of COVID-19
Pandemic o
Pre & Post COVID-19 Market
Size o
Qualitative analysis on the
short term & long-term impact of COVID-19 on the market
o The
analysis provides foremost strategies adopted by competitors to minimize the
impact of the pandemic on their business activities and scope for future
developments.
Industry Analysis
The
report covers exhaustive analysis on the global Automotive Loudspeaker industry, which
includes market trends, drivers, restraints, opportunities, segmental analysis,
regional trends, and competitive landscape among others. The report provides a
detailed study on various product types and their applications in different
industry verticals at the global/regional/country level. This study comprises
the market size in terms of revenue for each segment at the
global/regional/country level along with a detailed analysis of growth
prospects, challenges, and opportunities.
The rapid advancements in the automotive loudspeaker across the globe are expected to augment the growth of the automotive speaker market. As the in-built automotive technology is developing most of the automotive manufacturers are focusing on integrating advanced technologies into their in-car entertainment systems. Additionally, major market players are focussing on innovations pertaining to noise cancellation systems, portable audio technology, and voice-controlled artificial intelligence (AI) entertainment systems to gain a competitive edge in the automotive speaker market which in turn is supporting the growth of the market. The shifting inclination towards the usage of on-board infotainment systems in ride sharing services and growing changes in consumer lifestyles are anticipated to support the growth of the market. Consumers are inclined towards using on-board infotainment systems while traveling in public transport and prefer playing and listening to music during travel, which is increasing the demand for automotive loudspeakers. The major challenge that may hamper the growth of the automotive loudspeaker market is the high cost associated with premium automotive speakers an. With the increase in the features and use of more high quality components for more accuracy, the cost of installation of these systems increases by offering more smooth voice, sound and connectivity. It also has better signal to noise ration.
Global Automotive Loudspeaker Market Report Scope
Parameter | Details |
---|---|
Market Size Provided for Years | 2016-2028 |
Base Year | 2020 |
Historic Years | 2016-2020 |
Forecast Years | 2021-2028 |
Market Size Provided In Terms Of | Revenue & Volume |
Segments Covered | Type, Vehicle Type, Sales Channel |
Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
Countries Covered | The U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, South East Asia, Brazil, Argentina, GCC Countries, and South Africa, among others |
Companies Covered | Dynaudio, Harman, Bose, Hivi, Audison, Hyundai Mobis, Blaupunkt, VOXX International, Edifier, Fujitsu Ten, Scosche Industries, Boss Audio Systems, Sony, Philips, Bosch, Clarion, Quanfang, Panasonic, Alpine, Pioneer, Faital, Dual. |
Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and Asia Pacific, company market share analysis, and COVID-19 impact analysis |
Market Segmentation
The report delivers an acute breakdown of the
market based on various segments such as Type, Vehicle Type, Sales Channel
and Region. All the segments are studied considering historical and future
trends across geographies. All the segments are analyzed based on trends,
market size, and forecast, and the data is provided for the years 2016–2028.
Several growth factors and opportunities impacting various segments have been
incorporated in the report. On the basis of Type,
the market is divided into 2-Way Speaker, 3-Way Speaker, 4-Way Speaker. 2-way speaker held the largest
share in 2020 and is projected to grow at a noteworthy CAGR within the forecast
period.
Based on Vehicle Type,
the market is divided into Passenger Car, Commercial Vehicle. Passenger Car attributed to
the highest market share and is expected to grow at a significant CAGR from
2021 to 2028.
Global Automotive Loudspeaker Market: Type Segment Analysis
-
- 2-Way Speaker
- 3-Way Speaker
- 4-Way Speaker
Global Automotive Loudspeaker Market: Vehicle Type Segment Analysis
-
- Passenger Car
- Commercial Vehicle
Global Automotive Loudspeaker Market: Sales Channel Segment Analysis
-
- OEM
- Aftermarket
Regional Analysis Preview
Based on the geography, the global Automotive Loudspeaker market is segmented into North America, Latin America, Asia Pacific, Europe, and the Middle East & Africa. The report further segments the regional study into key country-level markets from each region. The report includes a separate section covering detailed Automotive Loudspeaker regional analysis based on various macro/micro factors impacting the growth of the market. The concentration of raw material suppliers as well as market players in one specific region impacts the global market scenario and the report covers exclusive information on the same. Also, the report analyzes the intensity of competition in each region and its influence on the growth of the global Automotive Loudspeaker market.
Market Size, 2021 (USD Billion)
Global Automotive Loudspeaker Market: Regional Analysis
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- France
- Germany
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East and Africa
- GCC Countries
- South Africa
- Rest of MEA
Competitive Landscape
The global Automotive Loudspeaker market report provides an exhaustive competitive landscape to give a comprehensive synopsis of the global market. Major players in the Automotive Loudspeaker market are Dynaudio, Harman, Bose, Hivi, Audison, Hyundai Mobis, Blaupunkt, VOXX International, Edifier, Fujitsu Ten, Scosche Industries, Boss Audio Systems, Sony, Philips, Bosch, Clarion, Quanfang, Panasonic, Alpine, Pioneer, Faital, Dual.. This section of the report will provide you extensive information on all key players based on business overview, product portfolio, marketing strategies, recent developments, financial performance, and geographical presence among others. Moreover, the report will also include extensive analysis on key strategies adopted by market players such as new product development/launch, merger & acquisitions, partnerships, collaborations & joint ventures, research & development, and regional expansion.
FAQ
Frequently Asked Question
What is the global demand for Automotive Loudspeaker in terms of revenue?
-
The global Automotive Loudspeaker valued at 4.25 Billion in 2020 and is expected to reach 8.34 Billion in 2028 growing at a CAGR of 7.20%%.
Which are the prominent players in the market?
-
The prominent players in the market are Dynaudio, Harman, Bose, Hivi, Audison, Hyundai Mobis, Blaupunkt, VOXX International, Edifier, Fujitsu Ten, Scosche Industries, Boss Audio Systems, Sony, Philips, Bosch, Clarion, Quanfang, Panasonic, Alpine, Pioneer, Faital, Dual..
At what CAGR is the market projected to grow within the forecast period?
-
The market is project to grow at a CAGR of 7.20%% between 2021 and 2028.
What are the driving factors fueling the growth of the market?
-
The driving factors of the Automotive Loudspeaker include
- The rapid advancements in the automotive loudspeaker across the globe are expected to augment the growth of the automotive speaker market. As the in-built automotive technology is developing most of the automotive manufacturers are focusing on integrating advanced technologies into their in-car entertainment systems. Additionally, major market players are focussing on innovations pertaining to noise cancellation systems, portable audio technology, and voice-controlled artificial intelligence (AI) entertainment systems to gain a competitive edge in the automotive speaker market which in turn is supporting the growth of the market.
- The shifting inclination towards the usage of on-board infotainment systems in ride sharing services and growing changes in consumer lifestyles are anticipated to support the growth of the market. Consumers are inclined towards using on-board infotainment systems while traveling in public transport and prefer playing and listening to music during travel, which is increasing the demand for automotive loudspeakers.
Which region accounted for the largest share in the market?
-
Asia Pacific was the leading regional segment of the Automotive Loudspeaker in 2020.