Automotive Audio System Market
Automotive Audio System Market Global Industry Assessment & Forecast
#
Pages:
142
2021
Nov - 2021
VMR-2021-0738
Segments Covered
By
Product Speaker, Head Unit (including Audio Visuals), Amplifier, Other
-
By
Application Passenger Car, Commercial Vehicle
Snapshot
 Forecast
Years:
|
2021 - 2028 |
 Historical
Years:
|
2016 - 2020 |
 Revenue
2021: |
7.61 Billion |
 Revenue 2028:
|
11.51 Billion |
 Revenue CAGR
(2021 - 2028): |
5.31% |
Fastest Growing Region (2022 -
2028)
|
North America |
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
Research Methodology: Automotive Audio System Market - Global Market Assessment, 2021 - 2028
The global Automotive Audio Systemmarket research study is based on a comprehensive research methodology that is used to arrive at the market estimations and forecasts. This methodology aid analysts and to learn and understanding market facts and insights from the innermost levels of the market. The whole research process involves 3 major activities: Secondary Research, Primary Research, and Data Triangulation. Secondary resources are utilized to gain insights on the market and later primary research is conducted to revalidate the information and conclusion derived from the secondary research. Out of the total primary respondents, 24% were from North America, 29% were from Europe, 31% were from the Asia Pacific, and the rest of the respondents were from Latin America and MEA.
Secondary Research
Primary Research:
The information gained/procured from the secondary data sources is validated through extensive primary interviews with industry experts across the Automotive Audio System supply chain. The primary research is also conducted to identify key players in the market and to gather and validate already procured information pertaining to their market-specific financial information. Moreover, primary research is used to gain/validate information about:
- Automotive Audio System market size at regional and country level
- Understanding market developments, future growth prospects, and upcoming challenges
- Overview of the Automotive Audio System supply chain and overall ecosystem
Data Triangulation and Market Size Estimations
The information procured from the secondary and primary resources is undergone through data triangulation methods to attain more accurate results on quantitative and qualitative analysis for specific market research studies. This helps to study any minutest details of the market along with building a clearer market-specific view for revenue estimations, industry trends, within each end-use industry, and estimate future trends within the market. After arriving at the global market numbers, top-down and bottom-up approaches are used to estimate, validate and finalize the market size of the Automotive Audio System market.
FAQ
Frequently Asked Question
What is the global demand for Automotive Audio System in terms of revenue?
-
The global Automotive Audio System valued at 7.61 Billion in 2020 and is expected to reach 11.51 Billion in 2028 growing at a CAGR of 5.31%%.
Which are the prominent players in the market?
-
The prominent players in the market are Bose, Mitsubishi Electric, Silan, Sony, Bang and Olufsen, Fujitsu Ten, Delphi, Panasonic, DandM Holdings, Pioneer, Boss Audio Systems, Clarion, Continental, Newsmy, Bowers and Wilkins, Bosch, Alpine, Harman, LEAR, Hyundai Mobis..
At what CAGR is the market projected to grow within the forecast period?
-
The market is project to grow at a CAGR of 5.31%% between 2021 and 2028.
What are the driving factors fueling the growth of the market?
-
The driving factors of the Automotive Audio System include
- The increasing automotive sale worldwide is anticipated to augment the global automotive audio system market in the years to come. This is attributable to the increasing urbanization and rising disposable income of consumers. This is letting consumers to spend more on luxury cars that are equipped with high-end audio systems. Most of the major players in automotive industry are also focussing on including premium audio systems in order to deliver such high-quality sound and increase their sales are factors driving the market
- The Growing popularity of connected and smart device is another major factor driving the global automotive audio system market during the forecast period. These systems include smartphone connectivity, which can be done through bluetooth or Wi-Fi technologies. This allows consumers to access messages and other useful data. Moreover, consumers can alter these systems according to their requirements as well, which is also supporting to the growing popularity of these systems. Furthermore, the technological advancement such as edge computing in the vehicle to provide security and real time data is also driving the demand for these systems.
Which region accounted for the largest share in the market?
-
North America was the leading regional segment of the Automotive Audio System in 2020.
