Automotive Speaker Market 2020-2026; Growth Forecast & Industry Share Report

1. Automotive Speaker Market Share, Trend & Growth Forecast to 2026

2. KeyInsights Automotive Speaker Market : • 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 market growth.

3. Continued… • 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.

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5. Major Companies Automotive Speaker Market : • Blaupunkt GmbH • Bose Corporation • Clarion Co. Ltd. • Continental AG • Dynaudio A/S • ELETTROMEDIA SRL

6. Regional Automotive Speaker Market: • 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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