Car Audio

3.3% Global CAGR for Car Audio Market to achieve US$ 59,383.8 Mn by 2027

Panasonic Corporation, Harman International, Continental AG, Denso Ten, and Clarion – PROMINENT MARKET PARTICIPANTS IN CAR AUDIO MARKET

The automotive industry throughout the globe is evolving and adopting advanced technological developments and innovations, along with an increased focus on driver’s comfort and safety. The car audio market is also witnessing several developments in technology, such as voice-enabled audio systems and smartphone-controlled audio systems. Further, with the development of ADAS and connected cars technology, the car audio market is experiencing a drastic change with companies focusing on their product development to efficiently compete with their rivals.

In terms of revenue, the company fitted a car audio system that captures a larger share as compared to aftermarket car audio systems. However, the market for both company fitted and aftermarket audio systems are experiencing growth in terms of volume, but the company fitted audio system are expensive; hence, it is expected to dominate. Further, most of the OEMs provide branded audio systems resulting in the larger share for branded audio systems than non-branded audio systems. These OEMs partners with varied car audio manufacturers for their different car models, depending on the technology and cost.

Additionally, the smartphone operated is witnessing a high growth rate as compared to manually operated audio systems attributed to the increasing penetration of smartphones and the availability of better internet services. Although, the market for voice recognized audio system is in its infancy, but it is expected to grow at a high CAGR due to rising concern for driver safety and ease of use.

The global market for car audio has been segmented on the basis of component, which includes a head unit, speakers, amplifiers, and others. Further, the head unit market is segmented on the basis of manual controlled and touches controlled. Also, speaker unit is further segmented in to speaker, tweeter and sub-woofer.

Some of the key players operating in the car audio market are Alpine Electronics, Clarion, Continental AG, Delphi Technologies, Denso Ten, Harman International, Hyundai Mobis, Pioneer Corporation, and Visteon Corporation

Few of the important market initiatives from the industry are mentioned below:

Year

News

Country

2019

Immersion signed a license agreement with Alpine Electronics which enables Alpine to access Immersion’s patented touch feedback technology for in-vehicle touchscreens.

APAC

2018

Continental and Sennheiser unveiled a speaker less sound system for automotive applications.

Europe

2018

HARMAN International Industries joined forces with Leading OEMs to deliver superlative in-car audio and infotainment at the 2018 Geneva Motor Show.

North America

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