Car Audio Market Report: Trends, Forecast and Competitive Analysis to 2030

Car Audio Trends and Forecast

The future of the global car audio market looks promising with opportunities in the voice recognized audio system and non-voice recognized audio system markets. The global car audio market is expected to reach an estimated $14.4 billion by 2030 with a CAGR of 5.8% from 2024 to 2030. The major drivers for this market are growing demand for premium audio systems, rising interest in in-car entertainment, and emergence of advanced audio technologies like 3D sound.

A more than 150-page report is developed to help in your business decisions.

Car Audio by Segment

The study includes a forecast for the global car audio by component, accessibility, technology, and region.

Car Audio Market by Component [Shipment Analysis by Value from 2018 to 2030]:

• Head Unit
• Amplifier
• Speaker
• Others

Car Audio Market by Accessibility [Shipment Analysis by Value from 2018 to 2030]:

• Smartphone Controlled
• Manual Controlled

Car Audio Market by Technology [Shipment Analysis by Value from 2018 to 2030]:

• Voice Recognized Audio System
• Non-Voice Recognized Audio System
• Others

Car Audio Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Car Audio Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies car audio companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the car audio companies profiled in this report include-

• Faurecia Clarion Electronics
• HARMAN International
• JVC Kenwood
• Panasonic
• Pioneer

Car Audio Market Insights

Lucintel forecasts that speaker is expected to witness the highest growth over the forecast period due to its rising application in passenger vehicle interiors for better safety features with adas and high-quality entertainment systems smartphone-controlled via Wi-Fi and Bluetooth technologies.

Within this market, voice recognized audio system is expected to witness the highest growth over the forecast period.

APAC is expected to witness highest growth over the forecast period due to increasing population's disposable income, rapid urbanization, and presence of key automotive manufacturers in the region.

Features of the Global Car Audio Market

Market Size Estimates: Car audio market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Car audio market size by component, accessibility, technology, and region in terms of value ($B).

Regional Analysis: Car audio market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different components, accessibilities, technologies, and regions for the car audio market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the car audio market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the car audio market size?

Answer: The global car audio market is expected to reach an estimated $14.4 billion by 2030.

Q2. What is the growth forecast for car audio market?

Answer: The global car audio market is expected to grow with a CAGR of 5.8% from 2024 to 2030.

Q3. What are the major drivers influencing the growth of the car audio market?

Answer: The major drivers for this market are growing demand for premium audio systems, rising interest in in-car entertainment and emergence of advanced audio technologies like 3D sound.

Q4. What are the major segments for car audio market?

Answer: The future of the car audio market looks promising with opportunities in the voice recognized audio system and non-voice recognized audio system markets.

Q5. Who are the key car audio market companies?

Answer: Some of the key car audio companies are as follows.

• Faurecia Clarion Electronics
• HARMAN International
• JVC Kenwood
• Panasonic
• Pioneer

Q6. Which car audio market segment will be the largest in future?

Answer: Lucintel forecasts that speaker is expected to witness the highest growth over the forecast period due to its rising application in passenger vehicle interiors for better safety features with adas and high-quality entertainment systems smartphone-controlled via Wi-Fi and Bluetooth technologies.

Q7. In car audio market, which region is expected to be the largest in next 5 years?

Answer: APAC is expected to witness highest growth over the forecast period due to increasing population's disposable income, rapid urbanization, and presence of key automotive manufacturers in the region.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the car audio market by component (head unit, amplifier, speaker, and others), accessibility (smartphone controlled and manual controlled), technology (voice recognized audio system, non-voice recognized audio system, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?