Automotive Speaker Market worth $12.92 billion in 2029 - Exclusive Report by MarketsandMarkets™
DELRAY BEACH, Fla., Nov. 19, 2024 -- The global automotive speaker market is expected to reach USD 12.92 billion in 2029 from USD 9.49 billion in 2024, at a CAGR of 6.4% during the forecast period according to a new report by MarketsandMarkets™. Car speakers are meant to improve the car's audio experience and deliver clearer bass, midrange, and treble sounds. They are designed specifically to withstand the harsh conditions of the automotive environment, including adverse vibrations, temperature variations, and humidity, while simultaneously delivering high-fidelity sound and good durability. Advanced materials increase clarity and minimize distortion in the sound, including polypropylene cones and neodymium magnets. Given the vigorous drive for high quality by consumers, manufacturers are expanding on innovation to bring powerful units in line with the constantly evolving preferences of modern vehicle owners.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=192832677
Browse in-depth TOC on "Automotive Speaker Market"
324 – Tables
56 – Figures
112 – Pages
Automotive Speaker Market Report Scope:
|
Report Coverage |
Details |
|
Market Revenue in 2024 |
$ 9.49 billion |
|
Estimated Value by 2029 |
$ 12.92 billion |
|
Growth Rate |
Poised to grow at a CAGR of 6.4% |
|
Market Size Available for |
2020–2029 |
|
Forecast Period |
2024–2029 |
|
Forecast Units |
Value (USD Million/Billion) |
|
Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
|
Segments Covered |
By Type, Vehicle, Installation, Technology and Region |
|
Geographies Covered |
North America, Europe, Asia Pacific, and Rest of World |
|
Key Market Challenge |
High competition and price sensitivity |
|
Key Market Opportunities |
Increasing demand for electric vehicles with quieter cabins |
|
Key Market Drivers |
Increasing strategic partnerships between automakers and premium audio brands |
The coaxial speaker segment is expected to hold the largest market share during the forecast period.
The coaxial speakers hold the largest market share during the forecast period. Coaxial speakers are also called full-range speakers as they pack the woofer, tweeter, and crossover in a single unit, making it one of the most in-demand speakers while upgrading a car's audio system. They are easy to install and come in the standard factory space fitting with good sound through all frequencies without special modifications. They also have different ranges of price and performance options to fit the budgeted requirements to upgrade the car's audio system. Brands like Clarion, JBL, and Stillwater Designs top this list with popular models and thus meet the demand for good-quality sound in cars to propel market growth.
The door speakers segment is dominating the automotive speaker market.
Door speakers are the market leaders of automobile speakers because they can deliver quality sound to the passengers, enhancing the overall sound quality during audio playback within the car. The speakers are placed strategically for a well-balanced, high-quality sound for playing music, navigating, or even receiving calls. This demand for better sound makes car manufacturers fit more speakers per door with woofers and tweeters. Brands like Meridian Audio have used advanced tech to produce immersive sound. Thus, door speakers have become the most popular market for those who need quality audio within their vehicles.
Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=192832677
US in the North America region to dominate the automotive speaker market during the forecast period
The US dominates the automotive speaker industry in North America primarily because consumers demand quality in-car audio and entertainment systems. This market is also driven by the trend toward electric vehicles, considering most tend to be equipped with premium infotainment sets. Recent government investments in building infrastructure for EVs have helped further boost sales growth. Car manufacturers heavily depend on advanced audio systems, and the US is commanding a lead in the automotive speaker market.
Key players
The automotive speaker companies includes significant Tier I and II players like Panasonic Holdings Corporation (US), Bose Corporation (US), Samsung Electronics Co., Ltd. (South Korea), Alps Alpine Co., Ltd. (Japan), Pioneer Corporation (Japan), Sony Group Corporation (Japan), Masimo Corporation (US), Clarion (US), Focal (France), Elettromedia S.p.A. (Italy), JVC KENWOOD Corporation (Japan), Stillwater Designs (US), Rockford Corp. (US) are some of the key players in the automotive speaker market.
Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=192832677
Browse Adjacent Market: Semiconductor and Electronics Market Research Reports &Consulting
Related Reports:
Wireless Audio Device Market by Product (True Wireless Hearables/Earbuds, Headsets, Earphones), Technology (Bluetooth, Airplay, Wi-Fi), Application (Consumer, Home Audio, Automotive), Functionality (Smart, Non-smart) and Region - Global Forecast to 2029
Hi-Fi System Market by System (Product, Device), Connectivity Technology (Wired, Wireless (Bluetooth, Wi-Fi, Airplay, Others)), Application (Residential, Automotive, Commercial, Others), and Geography - Global Forecast to 2025
Smart Speaker Market by IVA (Alexa, Google Assistant, Siri, DuerOS, Ali Genie), Component (Hardware (Speaker Driver, Connectivity IC, Processor, Audio IC, Memory, Power IC, Microphone) and Software), Application, and Region - Global Forecast to 2025
About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact:
Mr. Rohan Salgarkar
MarketsandMarkets™ INC.
1615 South Congress Ave.
Suite 103, Delray Beach, FL 33445
USA: +1-888-600-6441
Email: [email protected]
Visit Our Web Site: https://www.marketsandmarkets.com/
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/automotive-speaker-market.asp
Content Source: https://www.marketsandmarkets.com/PressReleases/automotive-speaker.asp
Logo: https://mma.prnewswire.com/media/1951202/4609423/MarketsandMarkets.jpg
SOURCE MarketsandMarkets