Global Automotive Audio Market to Reach Slightly Above US$ 10.0 Bn By 2025 End


 Published Date : 20 Nov 19   |   Views: 117   |  Industry : Consumer Goods

QYR Consulting has announced the addition of a new report to its consumer goods archive of market research studies titled, “Automotive Audio Market Report: Company Analysis, History and Future Overview, Global Sales Trends by 2025.” According to the report, the global Automotive Audio market was little more than US$ 8.0 Bn in 2018 and is anticipated to reach slightly above US$ 10.0 Bn by the end of 2025. The global Automotive Audio market is anticipated to register a sluggish CAGR of 3.1% during the forecast period, i.e. 2019 and 2025.

Segmental Analysis

Passenger Cars to Emerge as a Key Application Segment in Future

The report offers detailed analysis of all the application segments such as passenger cars and commercial cars. Demand for Automotive Audio is expected to witness a surge among the passenger cars including SUV and sedan on account of increasing sales of these cars. Usage of Automotive Audio may rise in light commercial cars owing to low cost of aftermarket Automotive Audio systems. As far as the product is concerned, the Automotive Audio market is segregated as < 4 Speakers, 4-6 Speakers, and > 6 Speaker. 

North America

Regional Analysis

North America and Europe to Emerge as Frontrunners in the Years Ahead

High adoption of Automotive Audio systems among various car manufacturing companies in North America and Europe is a key factor driving the market in these regions. Moreover, the sales of passenger cars is increasing in the US, which is compelling manufacturers to establish their base in North America, thus stimulating the regional market growth. Asia Pacific may witness considerable growth in the years to come owing to surge in automotive sales and increasing demand for in-car infotainment system, particularly in countries like China and India. 

Key Players

Manufacturers to Develop New Technology to Enhance Customer Experience

Some of the key manufacturers operating in the global Automotive Audio market are Panasonic, Delphi, Harman, MOBIS, Pioneer, Clarion, Visteon, Fujitsu Ten, BOSE, Continental, and Alpine. Manufacturers are emphasising on the development of an innovative technology that can improve the vehicles’ audio system, thereby offering better customer experience. Additionally, they are adopting key growth strategies such as novel product development, extensive R&D, and product differentiation in order to attract more customers and strengthen their presence in the market.

Global CAGR During 2020-2026


Market Dynamics

Complexities in Design May Curb the Automotive Audio Market Growth in Future

Design complexities are expected to restrain the Automotive Audio market growth in the coming years. Additionally, cost of advanced Automotive Audio systems is quite high, eventually making it difficult for the customers to afford, thus hampering the growth of the Automotive Audio market. However, factors such as growing demand for automotive accessories and technological advancements may offer growth opportunities for the market in the coming years. 

For further information, check: https://www.qyrconsulting.com/reports/automotive-audio-market


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