Growing Penetration of Smartphones Will Escalate the Car Audio Systems MarketPublished Date: Oct 2017
Latest market study on “Component Type (Speaker, Head Unit, Audio Visual, Amplifier, and Others), by Technology (Voice Recognized and Non-Voice Recognized), by Accessibility (Smartphone Controlled and Manual Controlled), and by Make Type (Branded/Premium audio system and Non-branded audio system) – North America & Europe Analysis and Forecast”, the car audio systems market is estimated to reach US$ 6.46 billion and US$ 5.65 billion by 2025 from US$ 3.85 billion and US$ 3.34 billion in 2016 respectively for Europe and North America. The report include key understanding on the driving factors of this growth and also highlights the prominent players in the market and their developments.
Car audio systems market by component type is segmented into speaker, head units, amplifiers and others (this includes sub-woofers and other small parts of the audio system). The segmentation is based upon need for car audio system to improve the sound experience of the cars. Speakers & head units in the car audio market have collaboratively acquired the biggest share of more than one-fourth in 2016, followed by amplifiers, and others. As premium audio systems have gained enough popularity across the passenger car segment in both Europe and America region, the number of speaker installation keep on increasing as per end-user requirement.
Automotive industry throughout the globe is evolving and adopting advanced technological developments and innovations, along with increased focus on driver’s comfort and safety. The car audio market is also witnessing several developments in the technology such as voice-enabled audio systems and smartphone controlled audio systems.
There has been constant development in car audio industry. Recently, Alpine Electronics of America, Inc. started shipment of iLX-207, an AV system with Android Auto and ApplePlay capability. The iLX-207 is an AM/FM system with Bluetooth wireless technology on a 7-inch WVGA capacitive touch screen and is optimized for wired connectivity with an iPhone or Android smartphone. Also, another leading player, Sony introduced XAV-AX200 DVD Receiver and MEX-GS820BT, high power in-car receiver in-car audio systems. XAV-AX200 DVD receiver was launched as an enhancement to XAV-AX100 and the receiver offers the latest technology to make the most out of long car journeys, while the MEX-GS820BT works as a high power in-car receiver. Both technologies include the latest smartphone connectivity with exceptional user interface to use on-the-go.
Some of the key players in the report include Panasonic Corporation, Pioneer Corporation, Alpine Electronics, Inc., Kenwood Corporation, Harman International Industries, Inc., Clarion Co., Ltd., Sony Corporation, Delphi Automotive PLC, Bose Corporation, JL Audio and Blaupunkt GmbH among others.
The report segments the car audio system market as follows:
Global Car Audio System Market – By Component Type
Head Unit (including Audio Visuals)
Global Car Audio System Market – By Technology
Global Car Audio System Market – By Accessibility Type
Smart Phone Controlled
Global Car Audio System Market – By Make Type
Global Car Audio System Market – By Geography
Rest of Europe