Car Audio Global Market Report 2024

Description

“Car Audio Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on car audio market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
Measure the impact of high global inflation on market growth.
Create regional and country strategies on the basis of local data and analysis.
Identify growth segments for investment.
Outperform competitors using forecast data and the drivers and trends shaping the market.
Understand customers based on the latest market shares.
Benchmark performance against key competitors.
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Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
All data from the report will also be delivered in an excel dashboard format.

Where is the largest and fastest growing market for car audio? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The car audio market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

Scope

Markets Covered:

1) By Component: Speaker; Amplifier; DSP; Microphone; Tuner
2) By Make Type: Branded/Premium Audio Systems; Non-Branded Audio Systems
3) By Technology: Voice Recognized Audio System; Non-Voice Recognized Audio System
4) By Sales Channel: Original Equipment Manufacturer(OEM); Aftermarket
5) By Application: Passenger Vehicle; Commercial Vehicle
Companies Mentioned: Alpine Electronics Inc.; Harman International; Clarion Co. Ltd.; JVC Kenwood Corporation; Panasonic Corporation
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

A car audio system is an integrated technology within a vehicle designed to offer entertainment and information to its passengers. It consists of multiple components working in harmony to deliver the desired sound quality and functionalities.

The primary components of a car audio system include speakers, amplifiers, DSP (Digital Signal Processor), microphones, and tuners. Speakers are devices that convert electrical signals into audible sounds. In car audio, they are responsible for amplifying music or infotainment system sounds to be heard within the vehicle. These speaker systems come in branded/premium versions as well as non-branded options, including both voice-recognized and non-voice-recognized audio system technologies. They are distributed through various sales channels such as original equipment manufacturers (OEM) and aftermarket sources, and are utilized across different applications including passenger vehicles and commercial vehicles.

The car audio market research report is one of a series of new reports from The Business Research Company that provides car audio market statistics, including car audio industry global market size, regional shares, competitors with a car audio market share, detailed car audio market segments, market trends, and opportunities, and any further data you may need to thrive in the car audio industry. This car audio market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The car audio market size has grown strongly in recent years. It will grow from $9.61 billion in 2023 to $10.45 billion in 2024 at a compound annual growth rate (CAGR) of 8.8%. The growth observed in the historical period within the car audio system industry can be attributed to several factors. These include the increasing consumer demand for in-car entertainment, a rise in disposable income allowing for lifestyle preferences that prioritize technology and entertainment, heightened competition among automakers aiming for product differentiation, urbanization leading to increased commuting times and reliance on in-car entertainment, and the integration of connectivity and advanced infotainment features within vehicles.

The car audio market size is expected to see strong growth in the next few years. It will grow to $14.54 billion in 2028 at a compound annual growth rate (CAGR) of 8.6%. The anticipated growth in the upcoming period within the car audio system industry can be linked to several key factors. These include the evolution of electric and autonomous vehicles, a heightened focus on enhancing the in-car audio experience, prevailing trends centered around customization and personalization, integration of voice recognition and artificial intelligence technologies, and collaborations between automobile manufacturers and premium audio brands. Major trends expected in the forecast period encompass the emergence of eco-friendly audio solutions, innovations in in-car acoustics technology, partnerships with streaming services for enhanced entertainment options, smart integration of audio systems with vehicle information systems, and the integration of wireless charging capabilities within these systems.

The growth of the car audio market is anticipated to be propelled by the increasing popularity of autonomous cars. Autonomous cars, characterized by their ability to operate without human intervention, are becoming more prevalent. The integration of audio analytics, including advanced car audio software, enhances the overall experience in autonomous vehicles by enabling quicker installations and improving sound quality. For example, by August 2022, it is estimated that the number of self-driving vehicles in the US will reach 3.5 million, further increasing to 4.5 million by 2030, as reported by the Insurance Information Institute, Inc.

The car audio market is poised for growth due to the rising trend of urbanization. Urbanization, marked by increased population concentration in urban areas, is accompanied by various socio-economic changes. The fast-paced urban lifestyle often leads to heavy traffic congestion, prompting individuals to spend more time in their vehicles. Car audio systems play a crucial role in alleviating stress and enhancing comfort through entertainment options. As of January 2022, the US Department of Commerce reported a population of 332,403,650 in the country, with a 0.21% increase from the previous year.

A key trend influencing the car audio market is the continuous advancement of technology. Major players in the market are actively introducing innovative products with cutting-edge technologies to maintain their competitive edge. For instance, in May 2022, the Sweden-based audio tech company, Dirac, launched an Intelligent Audio Platform designed specifically for cars. This software solution incorporates advanced upmixing technology to elevate the in-car audio experience. The Dirac Virtuo spatial audio solution, integrated into the platform, ensures a natural and immersive soundscape. The real-time analysis of stereo signals enhances accuracy, resulting in a more spatially authentic sound experience for users.

Major players in the car audio market are strategically introducing advanced car audio systems to gain a competitive advantage. These advanced systems are characterized by sophisticated in-vehicle audio setups, incorporating premium components, advanced signal processing, and immersive features to deliver an exceptional listening experience. For example, in September 2021, JBL, a renowned US-based sound recording company, launched the JBL Club 605 CSQ. This car speaker system, equipped with a 6.5-inch compo speaker set, features a 160mm carbon fiber woofer, silk dome tweeter, and filters, ensuring powerful and clear sound. The system is designed for high efficiency and power, serving as an upgrade for various car hi-fi systems and factory-installed low-power car stereos.

In April 2022, AAMP Global, a prominent US-based automotive company specializing in vehicle solutions, acquired AudioControl for an undisclosed amount. This strategic acquisition is geared towards bolstering AAMP Global's premium entertainment solution offerings across various sectors, including automotive aftermarket installers, professional audio/video specialists, and home technology integrators. The acquisition aims to support sustained growth, intensify product development plans, and enhance overall customer satisfaction. AudioControl, the acquired entity, is a leading US-based audio amplifier manufacturer known for its high-performance solutions catering to automotive, residential, and commercial applications.

Major companies operating in the car audio market report are Alpine Electronics Inc., Harman International, Clarion Co. Ltd., JVC Kenwood Corporation, Panasonic Corporation, Pioneer Corporation, Sony Corporation, Bose Corporation, JL Audio Corporation, Blaupunkt GmbH., Delphi Automotive PLC, Continental AG, Hyundai Mobis India Limited, Visteon Corporation, Fujitsu Ten Corp. of America, Garmin Ltd., Dynaudio A/S, Samsung Electronics Co. Ltd., Vervent Audio Group, Elettromedia Srl, Bang & Olufsen a/s, Bowers & Wilkins Group Ltd., Boston Acoustics Inc., Burmester Audiosysteme GmbH, Cadence Design Systems Inc., Diamond Audio Technologies, Digital Designs LLC, Directed Electronics Inc., Dual Electronics Corp., Grundig Intermedia GmbH, Lear Corporation .

Asia-Pacific was the largest region in the car audio market in 2023. Europe is expected to be the fastest-growing region in the car audio market report during the forecast period. The regions covered in the car audio market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the car audio market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The car audio market consists of sales of smartphone and manually controlled car audio systems. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Product Code: r10813

1. Executive Summary

2. Car Audio Market Characteristics

3. Car Audio Market Trends And Strategies

4. Car Audio Market - Macro Economic Scenario

4.1. Impact Of High Inflation On the Market
4.2. Ukraine-Russia War Impact On the Market
4.3. COVID-19 Impact On the Market

5. Global Car Audio Market Size and Growth

5.1. Global Car Audio Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global Car Audio Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Car Audio Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Car Audio Market Segmentation

6.1. Global Car Audio Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Speaker
Amplifier
DSP
Microphone
Tuner
6.2. Global Car Audio Market, Segmentation By Make Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Branded/Premium Audio Systems
Non-Branded Audio Systems
6.3. Global Car Audio Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Voice Recognized Audio System
Non-Voice Recognized Audio System
6.4. Global Car Audio Market, Segmentation By Sales Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Original Equipment Manufacturer(OEM)
Aftermarket
6.5. Global Car Audio Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Passenger Vehicle
Commercial Vehicle

7. Car Audio Market Regional And Country Analysis

7.1. Global Car Audio Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Car Audio Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Car Audio Market

8.1. Asia-Pacific Car Audio Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Car Audio Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Car Audio Market, Segmentation By Sales Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific Car Audio Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Car Audio Market

9.1. China Car Audio Market Overview
9.2. China Car Audio Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Car Audio Market, Segmentation By Sales Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China Car Audio Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Car Audio Market

10.1. India Car Audio Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Car Audio Market, Segmentation By Sales Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Car Audio Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Car Audio Market

11.1. Japan Car Audio Market Overview
11.2. Japan Car Audio Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Car Audio Market, Segmentation By Sales Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.4. Japan Car Audio Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Car Audio Market

12.1. Australia Car Audio Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Car Audio Market, Segmentation By Sales Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Car Audio Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Car Audio Market

13.1. Indonesia Car Audio Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Car Audio Market, Segmentation By Sales Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Car Audio Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Car Audio Market

14.1. South Korea Car Audio Market Overview
14.2. South Korea Car Audio Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Car Audio Market, Segmentation By Sales Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.4. South Korea Car Audio Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Car Audio Market

15.1. Western Europe Car Audio Market Overview
15.2. Western Europe Car Audio Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Car Audio Market, Segmentation By Sales Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe Car Audio Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Car Audio Market

16.1. UK Car Audio Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Car Audio Market, Segmentation By Sales Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Car Audio Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Car Audio Market

17.1. Germany Car Audio Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Car Audio Market, Segmentation By Sales Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Car Audio Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Car Audio Market

18.1. France Car Audio Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.2. France Car Audio Market, Segmentation By Sales Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.3. France Car Audio Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Car Audio Market

19.1. Italy Car Audio Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.2. Italy Car Audio Market, Segmentation By Sales Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.3. Italy Car Audio Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Car Audio Market

20.1. Spain Car Audio Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.2. Spain Car Audio Market, Segmentation By Sales Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.3. Spain Car Audio Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Car Audio Market

21.1. Eastern Europe Car Audio Market Overview
21.2. Eastern Europe Car Audio Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Car Audio Market, Segmentation By Sales Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe Car Audio Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Car Audio Market

22.1. Russia Car Audio Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Car Audio Market, Segmentation By Sales Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Car Audio Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Car Audio Market

23.1. North America Car Audio Market Overview
23.2. North America Car Audio Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Car Audio Market, Segmentation By Sales Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America Car Audio Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Car Audio Market

24.1. USA Car Audio Market Overview
24.2. USA Car Audio Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Car Audio Market, Segmentation By Sales Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA Car Audio Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Car Audio Market

25.1. Canada Car Audio Market Overview
25.2. Canada Car Audio Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Car Audio Market, Segmentation By Sales Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada Car Audio Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Car Audio Market

26.1. South America Car Audio Market Overview
26.2. South America Car Audio Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Car Audio Market, Segmentation By Sales Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America Car Audio Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Car Audio Market

27.1. Brazil Car Audio Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Car Audio Market, Segmentation By Sales Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Car Audio Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Car Audio Market

28.1. Middle East Car Audio Market Overview
28.2. Middle East Car Audio Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Car Audio Market, Segmentation By Sales Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East Car Audio Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Car Audio Market

29.1. Africa Car Audio Market Overview
29.2. Africa Car Audio Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Car Audio Market, Segmentation By Sales Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa Car Audio Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Car Audio Market Competitive Landscape And Company Profiles

30.1. Car Audio Market Competitive Landscape
30.2. Car Audio Market Company Profiles
- 30.2.1. Alpine Electronics Inc.
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1.4. Financial Performance
- 30.2.2. Harman International
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2.4. Financial Performance
- 30.2.3. Clarion Co. Ltd.
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3.4. Financial Performance
- 30.2.4. JVC Kenwood Corporation
  - 30.2.4.1. Overview
  - 30.2.4.2. Products and Services
  - 30.2.4.3. Strategy
  - 30.2.4.4. Financial Performance
- 30.2.5. Panasonic Corporation
  - 30.2.5.1. Overview
  - 30.2.5.2. Products and Services
  - 30.2.5.3. Strategy
  - 30.2.5.4. Financial Performance

31. Global Car Audio Market Competitive Benchmarking

32. Global Car Audio Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Car Audio Market

34. Car Audio Market Future Outlook and Potential Analysis

34.1 Car Audio Market In 2028 - Countries Offering Most New Opportunities
34.2 Car Audio Market In 2028 - Segments Offering Most New Opportunities
34.3 Car Audio Market In 2028 - Growth Strategies
- 34.3.1 Market Trend Based Strategies
- 34.3.2 Competitor Strategies

35. Appendix

35.1. Abbreviations
35.2. Currencies
35.3. Historic And Forecast Inflation Rates
35.4. Research Inquiries
35.5. The Business Research Company
35.6. Copyright And Disclaimer