North America and Europe Car Audio Market Growth Drivers and Forecast by 2025
Historic Data: 2015-2016 | Base Year: 2017 | Forecast Period: 2018-2025North America and Europe Car Audio Market to 2025 - Regional Analysis and Forecast by 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)
- Report Date : Oct 2017
- Report Code : TIPTE100000693
- Category : Electronics and Semiconductor
- Status : Published
- Available Report Formats :
- No. of Pages : 166
The North America and Europe Car Audio Market is expected to grow from US$ 4.64 Bn in 2017 to US$ 6.43 Bn by 2025 at a CAGR of 4.2% between 2017 and 2025.
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. 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.
Market Insights
Voice recognized market in North American region is expected to grow with the highest CAGR
Demand for superior driving experience with advance voice controlled assistants such as Siri and Cortana while driving is fueling the demand for voice recognized car audio system. However, in coming years the voice recognized car audio technology would enable the system to ignore intrusive off-axis suspension or speakers, which would further enable the passengers to communicate simultaneously with the system as well as other passengers without any worry. However, market is still in emerging stage and have comparatively less market size than non-voice recognized audio devices. All these factors are expected to create more demand for voice recognized car audio system and fuel the growth of car audio market. Car audio system manufacturers are looking at voice recognized audio system as the most lucrative feature to add in the car audio system during the forecast period.
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North America and Europe Car Audio Market: Strategic Insights
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North America and Europe Car Audio Market: Strategic Insights
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Smartphone controlled market expected to blossom at a rapid pace and fuel the growth of car audio market
Smartphones over the year have become a key integral of our lifestyle and therefore, most of the technologies discovered go hand in hand with the growth of smartphone penetration across the globe. Most of the company fitted audio system these days comes with bluetooth and other wireless controlled stereo system. Most vehicles manufactured after 2013 allowed drivers to communicate with smart phones after connecting audio devices via Bluetooth. Streaming audio via internet radio application on both iPhone and Android devices have become very common, and the product aftermarket gear is pushing the envelope beyond that in addition. This trend is expected to complement the growth of car audio market
Car Audio Market by Make Type
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Market initiative was observed as the most adopted strategy in global car audio market. Few of the recent strategies by some of the players in car audio market landscape are listed below-
- 2017: Acura NSX choose Clarion Corporation of America to build its high-end audio systems.
- 2017: Panasonic was selected by Volkswagen to provide Panasonic’s Fender Premium Audio System in Volkswagen Tiguan SUV.
- 2017: HARMAN partnered with CANTON, Germany to provide custom-made High-End Audio Solution for ŠKODA Kodiaq.
- 2017: HARMAN collaborated with Conexant Systems, Inc. to provide high-end comprehensive audio and voice solutions for voice-enabled devices manufacturers.
Car Audio North America and Europe Car Audio Market Regional Insights
The regional trends and factors influencing the North America and Europe Car Audio Market throughout the forecast period have been thoroughly explained by the analysts at The Insight Partners. This section also discusses North America and Europe Car Audio Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
- Get the Regional Specific Data for North America and Europe Car Audio Market
North America and Europe Car Audio Market Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2017 | US$ 4.64 Billion |
| Market Size by 2025 | US$ 6.43 Billion |
| Global CAGR (2017 - 2025) | 4.2% |
| Historical Data | 2015-2016 |
| Forecast period | 2018-2025 |
| Segments Covered |
By Component Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
North America and Europe Car Audio Market Players Density: Understanding Its Impact on Business Dynamics
The North America and Europe Car Audio Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the North America and Europe Car Audio Market are:
- Alpine Electronics, Inc.
- Clarion Co., Ltd.
- HARMAN International
- JVC Kenwood Corporation
- Panasonic Corporation
- Pioneer Corporation
Disclaimer: The companies listed above are not ranked in any particular order.
- Get the North America and Europe Car Audio Market top key players overview
Car Audio Market Segmentation
By Component
- Speaker
- Head Unit (including Audio Visuals)
- Amplifier
- Others
By Technology
- Voice Recognized
- Non-Voice Recognized
By Accessibility Type
- Smart Phone Controlled
- Manual Controlled
By Make Type
- Branded
- Non-Branded
By Geography
- North America
- U.S.
- Canada
- Mexico
- Europe
- France
- Germany
- Italy
- Spain
- U.K
Company Profiles
- Alpine Electronics, Inc.
- Clarion Co., Ltd.
- HARMAN International
- JVC Kenwood Corporation
- Panasonic Corporation
- Pioneer Corporation
- Sony Corporation
- Delphi Automotive PLC
- Bose Corporation
- JL Audio Corporation
- Blaupunkt GmbH
Market Research & Consulting
- Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
- PEST and SWOT Analysis
- Market Size Value / Volume - Global, Regional, Country
- Industry and Competitive Landscape
- Excel Dataset
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The List of Companies - Car Audio Market
- Alpine Electronics, Inc.
- Clarion Co., Ltd.
- HARMAN International
- JVC Kenwood Corporation
- Panasonic Corporation
- Pioneer Corporation
- Sony Corporation
- Delphi Automotive PLC
- Bose Corporation
- JL Audio Corporation
- Blaupunkt GmbH
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