North America and Europe Car Audio Market to Reach US$ 6.43 Billion at CAGR of 4.2% by 2025

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.

Car Audio Regional Markets

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.

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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North America and Europe Car Audio Market: Strategic Insights

North America and Europe Car Audio Market

• 
  CAGR (2017 - 2025)

  4.2%
• Market Size 2017
  US$ 4.64 Billion
• Market Size 2025
  US$ 6.43 Billion

Market Dynamics

GROWTH DRIVERS

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FUTURE TRENDS

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OPPORTUNITIES

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Key Players

• Alpine Electronics Inc
• Clarion Co Ltd
• HARMAN International
• JVC Kenwood Corporation
• Panasonic Corporation
• Pioneer Corporation
• Sony Corporation
• Delphi Automotive PLC
• Bose Corporation

Regional Overview

• North America
• Europe

Market Segmentation

Component Type

• Speaker
• Head Unit
• Audio Visual
• Amplifier

Technology

• Voice Recognized and Non-Voice Recognized

Accessibility

• Smartphone Controlled and Manual Controlled

Make Type

• Branded/Premium audio system and Non-branded audio system

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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.

Global 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

North America and Europe Car Audio Market Report Scope

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