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Car Audio Market by Geographical Segmentation and Growth Predictions till 2027

Car audio market is expected to grow from US$ 47,678.0 Mn in 2018

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Car Audio Market by Geographical Segmentation and Growth Predictions till 2027

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  1. Car Audio Market to 2027 Car Audio Market to 2027 - Global Analysis and Forecasts by Component (Head Unit, Speaker, Amplifier) Car audio market is expected to grow from US$ 47,678.0 Mn in 2018 to US$ 59,383.8 Mn by the year 2027. This represents a CAGR of 3.3% from the year 2019 to 2027.

  2. Car Audio Market to 2027 - Global Analysis and Forecasts by Component (Head Unit, Speaker, Amplifier) APAC is projected to grow at a very high pace during the forecast period. Car audio applications in Asian economies are expected to boom at an exponential rate owing to the increasing number of car production. The sales of premium cars are also growing in the region with the rising disposable income in rapidly growing economies such as India, China, and South Korea. As a result of this, APAC has witnessed high growth in the sales of automobiles in recent times. The higher number of automobiles on the road demands for higher production of vehicles and thus present large potentials for car audio manufacturers to expand their business base in APAC region.

  3. Car Audio Market to 2027 - Global Analysis and Forecasts by Component (Head Unit, Speaker, Amplifier) The sales of premium cars are also growing in the region with the rising disposable income in rapidly growing economies such as India, China, and South Korea. As a result of this, APAC has witnessed high growth in the sales of automobiles in recent times. The higher number of automobiles on the road demands for higher production of vehicles and thus present large potentials for car audio manufacturers to expand their business base in APAC this region. With the increasing importance of the automotive accessories’ markets in APAC, especially in China and India, automakers realize that innovations in electronics can complement innovations in vehicle production, which would help gaining a competitive advantage. Therefore, automakers are focusing on integrating advanced audio solutions in vehicles, which is driving the growth of the car audio market APAC in the region. Market Insights Increasing Demand for Car Audio in APAC   APAC comprises China, India, Japan, Australia, South Korea, and Rest of APAC. The economy of the region is performing well with numerous technological and infrastructural developments. The car audio market in APAC is primarily driven by increasing disposable income and changing consumer preferences. The automotive industry in countries such as India, China, and South Korea is growing owing to the increasing manufacturing of vehicles. For instance, India produced total 4,516,017 vehicles, of which 3,623,335 were cars in the year 2019. Also, in the year 2019 China is the largest vehicle producing country across the globe; it produced 25,720,665 vehicles in 2019, of which 21,360,193 were cars. The presence of a strong automotive sector and the increasing number of passenger car manufacturers are the major factors driving the growth of the car audio market in the region.

  4. Car Audio Market to 2027 - Global Analysis and Forecasts by Component (Head Unit, Speaker, Amplifier) Component Insights The global car audio market by components was led by speaker unit segment. Head unit segment held the second largest market in 2018 and is anticipated to increase its shares during the forecast period from 2019 – 2027.

  5. Car Audio Market to 2027 - Global Analysis and Forecasts by Component (Head Unit, Speaker, Amplifier) • Global Car Audio Market – By Component • Head Unit • Speaker Unit • Amplifier • Global Car Audio Market – By Region • North America • Europe • Asia Pacific • Middle East and Africa • South America • Company Profiles • Alpine Electronics, Inc • Continental AG • Clarion Co., Ltd. • Harman International • Panasonic Corporation • Pioneer Corporation • Sony Corporation • Visteon Corporation • Hyundai Mobis • Denso Ten

  6. Car Audio Market to 2027 - Global Analysis and Forecasts by Component (Head Unit, Speaker, Amplifier) Thank You Email :sales@theinsightpartners.com Phone : +1-646-491-9876

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