Automotive Speaker Market 2021 Industry Analysis Report, Recent Trends, Application Development Potential & Regional Analysis by 2027

The gradual improvement in purchasing power among people across the globe has defined automotive speaker market trends over the years. Leading automakers have entered into strategic collaborations with audio system manufacturers in the past to provide customized products to their clients. Prominent automobile manufacturers such as BMW, Audi, Mercedes- Benz and Bentley are partnering with sound system developers to incorporate advanced audio sound systems in new vehicles, intensifying global development of speaker utilized in vehicles.    

Multi-driver speakers have widely been adopted in vehicles as they provide improved sound quality as compared to single-driver speaker systems. The increasing demand of consumers to improve the performance of the in-vehicle sound system will boost the Automotive Speaker Market growth.

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However, the prevailing coronavirus outbreak has largely affected the business growth due to the government regulations pertaining to the temporary shutdown of manufacturing and distribution units along with the restriction on the movement of the people. This has also affected the sale of automobiles across the globe. The market is expected to witness steady growth from 2021, once the effect of the pandemic is reduced.

Prominent automotive speaker market players include Sony Corporation, Sound United, Harman International Industries, Alpine Electronics, Panasonic Corporation, and Elettromedia, among various others. The companies have constantly worked towards introducing new products in the market to meet the demands of aftermarket automobile speakers. In March 2020, Japan-based Pioneer introduced its new in-car infotainment system as an aftermarket solution in India. The system offered navigation solutions along with the Pioneer’s parking sensors to provide smart driver assistance.  

Passenger cars have showcased tremendous demand for onboard entertainment in vehicles over the years. Change in consumer lifestyle, urbanization, enhanced rate of affordability has steered the demand for high-quality infotainment solutions that can be connected with smartphones through Wi-Fi or Bluetooth technologies.  

In developing regions like the Asia Pacific, the people have witnessed a rise in the purchasing power in the last few years due to better job opportunities and industrialization in countries like India, China, Singapore, and Malaysia. Consumers in the region have increasingly spent on technologically advanced in-vehicle audio and entertainment solutions for improved safety and better entertainment features. Change in consumer preference towards aftermarket automotive audio system has supported the regional market forecast.

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Connected 3-way speakers comprising of multiple drivers provides a dynamic sound output throughout the vehicle space which has supplemented its demand in the market. 3-way speakers offer a woofer, a tweeter and a midrange driver to gain control over the audio frequencies.

To gain competitive advantage, the market players have constantly aimed at developing technologically advanced products that meet the changing consumer needs as well as help expand their geographical footprint.

Table of Contents (ToC) of the report:

Chapter 1.    Methodology and Scope

1.1.    Definitions & forecast parameters

1.1.1. Definitions

1.1.2. Methodology and forecast parameters

1.2.    Data Sources

1.2.1. Secondary

1.2.2. Primary

Chapter 2.    Automotive Speaker Market Summary

2.1.    Automotive speaker industry 360° synopsis, 2016 – 2026

2.1.1. Business trends

2.1.2. Product trends

2.1.3. Engine trends

2.1.4. Regional trends

Chapter 3.    Automotive Speaker Market Industry Insights

3.1.    Industry segmentation

3.2.    Industry landscape, 2016 – 2026

3.3.    Impact of COVID-19 pandemic

3.3.1. Global outlook

3.3.2. Impact by region

3.3.2.1.    North America

3.3.2.2.    Europe

3.3.2.3.    Asia Pacific

3.3.2.4.    Latin America

3.3.2.5.    MEA

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