[Research Report] 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.
Analyst Perspective:
The car audio market offers a wide range of options for those seeking high-quality audio systems and entertainment in their vehicles. There are many car radio manufacturers all over the globe to provide the cars with best sound system. From car systems audio, premium car audio brands to aftermarket solutions, numerous choices are available to enhance the audio experience while on the road. Regarding premium car audio brands, names like Bang & Olufsen stand out. Known for their exceptional audio technology, Bang & Olufsen offers top-of-the-line car audio systems that deliver immersive and crystal-clear sound. Aftermarket options provide a diverse range of choices for those looking to upgrade their existing car audio systems. Numerous suppliers cater to car audio hardware, such as car speakers, in car music systems, in car entertainment systems, surround systems, and stereo units.
These suppliers offer a variety of options to suit different budgets and preferences. When considering the best sound systems in cars, luxury vehicles often come to mind. Many high end car audio brands manufacturers partner with renowned audio brands to provide exceptional sound quality. Top car audio brands like Bang & Olufsen, Harman Kardon, Bose, and Burmester (luxury car speakers) collaborate with car manufacturers and car stereo suppliers to create immersive audio experiences. While premium car audio systems can be quite expensive, there are also options for free car speakers. Some car manufacturers may include decent stock speakers as part of the standard equipment in certain models. However, upgrading to aftermarket audio is often recommended for those seeking superior audio quality and car surround sound system. Car audio fitment is an essential aspect when installing new car system audio. It ensures that the audio components are properly integrated into the vehicle without compatibility issues in the new car audio system and focus on cars with good sound systems. Car audio suppliers often provide fitment services to ensure a seamless installation and optimal audio system performance.
Market Overview:
Car audio refers to a technology installed in a car to provide the occupants with information and amusement while driving. With the advancement of technology, dashboard-mounted controls for controlling car music are no longer necessary. Other devices, like steering wheel controls, voice commands, and cellphones, can control automobile music. "car audio" refers to various parts, including the head unit, amplifier, and speakers. Originally designed for music listening, automotive audio is now crucial to telematics, communications, in-vehicle security, hands-free calling, navigation, and standalone diagnostics systems. The same loudspeakers can also be used to amplify engine sounds, such as making a smaller engine sound bigger or to decrease road and engine noise with active noise management. A car amplifier can also be used indoors for automotive audio. Car audio systems in the early days of the automotive industry were simple AM/FM radios. These devices had limited functionality and poor audio quality, and they were mostly used for listening to radio shows while driving. Cassette players, which let you play music tapes, were introduced as technology advanced.
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Car Audio Market: Strategic Insights
Market Size Value in US$ 47,678.0 Million in 2018 Market Size Value by US$ 59,383.8 Million by 2027 Growth rate CAGR of 3.3% from 2019-2027 Forecast Period 2019-2027 Base Year 2019
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Car Audio Market: Strategic Insights
| Market Size Value in | US$ 47,678.0 Million in 2018 |
| Market Size Value by | US$ 59,383.8 Million by 2027 |
| Growth rate | CAGR of 3.3% from 2019-2027 |
| Forecast Period | 2019-2027 |
| Base Year | 2019 |
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Market Driver:
Increasing Demand for Premium Car Audio Systems to Drive Growth of Car Audio Market
The demand for premium car audio systems has been steadily increasing in recent years, driving significant growth in the market. Several factors contribute to this rising demand and its positive impact on the market. One key driver behind the growing demand for premium car audio systems is the increasing emphasis on enhancing the overall in-car entertainment experience. People spend more time in their vehicles seeking high-quality audio systems that provide immersive sound and deliver a pleasurable driving experience. Car audio systems have evolved from mere accessories to integral components of the overall car entertainment system. Luxury car manufacturers, in particular, have recognized the importance of superior audio quality and have partnered with renowned audio brands to provide exceptional sound systems in their vehicles. These collaborations with premium car audio brands, such as Bang & Olufsen, Harman Kardon, and Bose, have created a sense of exclusivity and added value for customers. As a result, consumers are increasingly keen to invest in luxury vehicles equipped with top-of-the-line audio systems, further driving market growth. Furthermore, the aftermarket car audio/sound systems segment significantly meets the demand for premium audio systems. Car audio suppliers offering aftermarket solutions provide various options for different preferences and budgets. This accessibility to high-quality audio components, such as car speakers, surround systems, and stereo units, allows car owners to upgrade their existing audio systems to achieve a superior sound experience. Another factor contributing to the market growth is the constant technological advancements in the car audio industry. Manufacturers continually innovate and present new features and technologies to enhance audio performance and also provide car audio information. These advancements include integrating advanced digital signal processing, improved speaker materials, wireless connectivity options, and enhanced sound tuning capabilities. Such technological advancements further fuel the demand for premium car audio systems as consumers seek their vehicles' latest and most advanced audio solutions.
Segmental Analysis:
Based on component, the car audio market is segmented into:
- Head Unit
- Speaker
- Amplifier
The head unit segment held the largest share of the market in 2018 and is anticipated to register the highest CAGR in the market during the forecast period. The head unit segment is the largest and most dominant segment in the car audio market. This is primarily due to its essential functionality as the central control unit for the car audio system. The widespread usage of head units across all types of vehicles contributes to its significant market share. Technological advancements have enhanced the features and capabilities of head units, including compatibility with various audio sources, advanced connectivity options, touchscreen displays, and smart features. The aftermarket availability of head units allows for easy customization and upgrades. The increasing demand for connectivity and integration with smartphones further drives the growth of this segment. Overall, the head unit segment's market presence is fueled by its indispensability, technological advancements, and ability to meet consumers' evolving audio preferences and needs.
Regional Analysis:
The Asia Pacific region has emerged as the dominant force in the car audio market, holding a significant share. Several factors contribute to the region's strong market presence and ability to lead in this industry. One key driver of the Asia Pacific region's dominance is its large population and increasing disposable income levels. As more people in countries like China, India, Japan, and South Korea become financially capable of owning cars, the demand for car audio systems experiences substantial growth. The region's growing middle class seeks to enhance their driving experiences by installing high-quality audio systems, contributing to the market's expansion. Furthermore, the Asia Pacific region is home to several prominent automobile manufacturers, both domestic and international. These manufacturers recognize the importance of incorporating advanced audio systems in their vehicles to attract customers. Collaborations with premium car audio brands and integration of cutting-edge audio technologies in their vehicles give them a competitive edge. As a result, the region witnesses a higher adoption rate of premium car audio systems, further boosting the market's growth. Moreover, technological advancements and innovations in the Asia Pacific region significantly contribute to its market dominance. Countries like Japan and South Korea have a strong presence in the consumer electronics industry and are renowned for their technological prowess. This expertise extends to the car audio sector as well.
Asian manufacturers are at the forefront of developing and implementing advanced audio technologies, such as digital signal processing, active noise cancellation, and immersive sound systems. These innovations appeal to consumers seeking the latest audio advancements, leading to the region's dominance—additionally, the Asia Pacific market benefits from a well-established aftermarket sector. Car audio suppliers and retailers provide options catering to various budgets and preferences. This accessibility to aftermarket solutions ensures that consumers have ample choices to upgrade their existing audio systems, further driving the market's growth.
The North American region plays a significant role in the car audio market, with several distinct characteristics and trends shaping its dynamics. Understanding the regional insights of North America helps to comprehend its market landscape and the factors driving its growth. North America, comprising the United States and Canada, is known for its strong consumer demand and advanced automotive industry. The region has a high affinity for premium car audio systems, with many consumers seeking high-quality sound experiences in their vehicles. Luxury car brands like Harman Kardon are highly sought-after in North America. These premium audio brands have established partnerships with luxury vehicle manufacturers, offering exclusive and high-performance sound systems as optional or standard features in their vehicles. This collaboration between luxury car manufacturers and top-tier audio brands contributes to the region's robust market growth.
The North American market has a thriving aftermarket sector that caters to car audio enthusiasts and consumers looking to upgrade their audio systems. Car audio suppliers and retailers provide various options, including speakers, surround systems, head units, and other audio hardware. This availability of aftermarket solutions enables consumers to customize and enhance their car audio systems to suit their preferences and audio requirements. Technological advancements in North America also play a significant role in shaping the car audio market. The region is at the forefront of innovation in audio technology, focusing on integrating connectivity options and smart features into car audio systems. Bluetooth connectivity, smartphone integration, voice control, and advanced digital signal processing are among the key technological advancements consumers in North America embrace. Furthermore, North America hosts some of the largest automotive trade shows and exhibitions, where car audio manufacturers and suppliers showcase their latest products and innovations. These events, such as CES (Consumer Electronics Show) and SEMA (Specialty Equipment Market Association) Show, serve as platforms for industry professionals to connect, collaborate, and introduce new technologies to the market.
Key Player Analysis:
The car audio market analysis consists of the players such as Alpine Electronics, Inc.; Continental AG; Clarion Co., Ltd.; Harman International; Panasonic Corporation; Pioneer Corporation; Sony Corporation; Visteon Corporation; Hyundai Mobis; and Denso Ten. Among the players in the car audio Harman International and Hyundai Mobis are the top two players owing to the diversified product portfolio offered.
Car Audio Market Report Scope
Recent Developments:
Inorganic and organic strategies such as mergers and acquisitions are highly adopted by companies in the car audio market. A few recent key market developments are listed below:
- In January 2022: Denso developed Global Safety Package 3, an active safety system designed to improve the safety of vehicles by giving them high sensing capability of their surroundings. It uses the combined performance of a millimeter-wave radar sensor and vision sensor to assist the driver in controlling the vehicle safely. This product is used in the Hino Ranger, the Lexus NX, and the Toyota Noah and Voxy.
- In October 2021, Harman expanded their range of aftermarket caraudio products with the launch of a single din #stereo system, Alpha 100, and an award-winning amplifier REF7005A in the Indian market.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Component
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Rst of SAM, Russian Federation, South Africa, South Korea, United Kingdom, United States
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Car Audio Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America – PEST Analysis
4.2.2 Europe – PEST Analysis
4.2.3 Asia-Pacific – PEST Analysis
4.2.4 Middle East & Africa – PEST Analysis
4.2.5 South America – PEST Analysis
4.3 Premium Insights
4.3.1 Car audio system production volume analysis
4.3.2 Vehicle Production Statistics
4.3.3 Car Audio Tier 1 Suppliers – Market Share Analysis
5. Car audio Market – Key Market Dynamics
5.1 Drivers
5.1.1 Increasing adoption of Premium Car Audio Systems
5.1.2 Electric Vehicle
5.2 Market Restraints
5.2.1 Battery Drainage issues
5.3 Market Opportunities
5.3.1 Smart car audio system with the integration of virtual assistants
5.4 Future Trends
5.4.1 Speaker-less Car Audio
5.1 Impact Analysis of Drivers and restraints
6. Car Audio – Global Market Analysis
6.1 Car audio Global Overview
6.2 Car audio Market – Revenue, and Forecast to 2027 (US$ Million)
7. Car Audio Market Analysis – By Component
7.1 Overview
7.2 Car Audio Market, By Component (2019 and 2027)
7.3 Head Unit
7.3.1 Overview
7.3.2 Head Unit: Car Audio Market – Revenue and Forecast to 2027 (US$ Million)
7.3.3 Manual Control
7.3.3.1 Overview
7.3.3.2 Manual Control: Car Audio Head Unit Market – Revenue and Forecast to 2027 (US$ Million)
7.3.4 Touch Control
7.3.4.1 Overview
7.3.4.2 Touch Control: Car Audio Head Unit Market – Revenue and Forecast to 2027 (US$ Million)
7.4 Speaker Unit
7.4.1 Overview
7.4.2 Speaker Unit: Car Audio Market – Revenue and Forecast to 2027 (US$ Million)
7.4.3 Speaker
7.4.4 Overview
7.4.4.1 Speaker: Car Audio Speaker Unit Market – Revenue and Forecast to 2027 (US$ Million)
7.4.5 Tweeter
7.4.6 Overview
7.4.6.1 Tweeter: Car Audio Speaker Unit Market – Revenue and Forecast to 2027 (US$ Million)
7.4.7 Subwoofer
7.4.7.1 Overview
7.4.7.2 Subwoofer: Car Audio Speaker Unit Market – Revenue and Forecast to 2027 (US$ Million)
7.5 Amplifier
7.5.1 Overview
7.5.2 Amplifier: Car Audio Market – Revenue and Forecast to 2027 (US$ Million)
7.5.3 2–Channel
7.5.3.1 Overview
7.5.3.2 2–Channel: Car Audio Market – Revenue and Forecast to 2027 (US$ Million)
7.5.4 4–Channel
7.5.4.1 Overview
7.5.4.2 4Channel: Car Audio Market – Revenue and Forecast to 2027 (US$ Million)
8. Geographic Analysis
8.1 North America: Car Audio Market
8.1.1 North America: Car Audio Market – Revenue and Forecast to 2027 (US$ Million)
8.1.2 North America: Car Audio Market, by Component
8.1.2.1 North America: Car Audio Market, by Head Unit
8.1.2.2 North America: Car Audio Market, by Speaker Unit
8.1.2.3 North America: Car Audio Market, by Amplifier
8.1.3 North America: Car Audio Market, by Key Country
8.1.3.1 US: Car Audio Market – Revenue and Forecast to 2027 (US$ Million)
8.1.3.1.1 US: Car Audio Market, by Component
8.1.3.1.1.1 US: Car Audio Market, by Head Unit
8.1.3.1.1.2 US: Car Audio Market, by Speaker Unit
8.1.3.1.1.3 US: Car Audio Market, by Amplifier
8.1.3.2 Canada: Car Audio Market – Revenue and Forecast to 2027 (US$ Million)
8.1.3.2.1 Canada: Car Audio Market, by Component
8.1.3.2.1.1 Canada: Car Audio Market, by Head Unit
8.1.3.2.1.2 Canada: Car Audio Market, by Speaker Unit
8.1.3.2.1.3 Canada: Car Audio Market, by Amplifier
8.1.3.3 Mexico: Car Audio Market – Revenue and Forecast to 2027 (US$ Million)
8.1.3.3.1 Mexico: Car Audio Market, by Component
8.1.3.3.1.1 Mexico: Car Audio Market, by Head Unit
8.1.3.3.1.2 Mexico: Car Audio Market, by Speaker Unit
8.1.3.3.1.3 Mexico: Car Audio Market, by Amplifier
8.2 Europe: Car Audio Market
8.2.1 Europe: Car Audio Market – Revenue and Forecast to 2027 (US$ Million)
8.2.2 Europe: Car Audio Market, by Component
8.2.2.1 Europe: Car Audio Market, by Head Unit
8.2.2.2 Europe: Car Audio Market, by Speaker Unit
8.2.2.3 Europe: Car Audio Market, by Amplifier
8.2.3 Europe: Car Audio Market, by Key Country
8.2.3.1 Germany: Car Audio Market – Revenue and Forecast to 2027 (US$ Million)
8.2.3.1.1 Germany: Car Audio Market, by Component
8.2.3.1.1.1 Germany: Car Audio Market, by Head Unit
8.2.3.1.1.2 Germany: Car Audio Market, by Speaker Unit
8.2.3.1.1.3 Germany: Car Audio Market, by Amplifier
8.2.3.2 France: Car Audio Market – Revenue and Forecast to 2027 (US$ Million)
8.2.3.2.1 France: Car Audio Market, by Component
8.2.3.2.1.1 France: Car Audio Market, by Head Unit
8.2.3.2.1.2 France: Car Audio Market, by Speaker Unit
8.2.3.2.1.3 France: Car Audio Market, by Amplifier
8.2.3.3 Italy: Car Audio Market – Revenue and Forecast to 2027 (US$ Million)
8.2.3.3.1 Italy: Car Audio Market, by Component
8.2.3.3.1.1 Italy: Car Audio Market, by Head Unit
8.2.3.3.1.2 Italy: Car Audio Market, by Speaker Unit
8.2.3.3.1.3 Italy: Car Audio Market, by Amplifier
8.2.3.4 UK: Car Audio Market – Revenue and Forecast to 2027 (US$ Million)
8.2.3.4.1 UK: Car Audio Market, by Component
8.2.3.4.1.1 UK: Car Audio Market, by Head Unit
8.2.3.4.1.2 UK: Car Audio Market, by Speaker Unit
8.2.3.4.1.3 UK: Car Audio Market, by Amplifier
8.2.3.5 Russia: Car Audio Market – Revenue and Forecast to 2027 (US$ Million)
8.2.3.5.1 Russia: Car Audio Market, by Component
8.2.3.5.1.1 Russia: Car Audio Market, by Head Unit
8.2.3.5.1.2 Russia: Car Audio Market, by Speaker Unit
8.2.3.5.1.3 Russia: Car Audio Market, by Amplifier
8.2.3.6 Rest of Europe: Car Audio Market – Revenue and Forecast to 2027 (US$ Million)
8.2.3.6.1 Rest of Europe: Car Audio Market, by Component
8.2.3.6.1.1 Rest of Europe: Car Audio Market, by Head Unit
8.2.3.6.1.2 Rest of Europe: Car Audio Market, by Speaker Unit
8.2.3.6.1.3 Rest of Europe: Car Audio Market, by Amplifier
8.3 Asia-Pacific: Car Audio Market
8.3.1 Asia-Pacific: Car Audio Market – Revenue and Forecast to 2027 (US$ Million)
8.3.2 Asia-Pacific: Car Audio Market, by Component
8.3.2.1 Asia-Pacific: Car Audio Market, by Head Unit
8.3.2.2 Asia-Pacific: Car Audio Market, by Speaker Unit
8.3.2.3 Asia-Pacific: Car Audio Market, by Amplifier
8.3.3 Asia-Pacific: Car Audio Market, by Key Country
8.3.3.1 Australia: Car Audio Market – Revenue and Forecast to 2027 (US$ Million)
8.3.3.1.1 Australia: Car Audio Market, by Component
8.3.3.1.1.1 Australia: Car Audio Market, by Head Unit
8.3.3.1.1.2 Australia: Car Audio Market, by Speaker Unit
8.3.3.1.1.3 Australia: Car Audio Market, by Amplifier
8.3.3.2 China: Car Audio Market – Revenue and Forecast to 2027 (US$ Million)
8.3.3.2.1 China: Car Audio Market, by Component
8.3.3.2.1.1 China: Car Audio Market, by Head Unit
8.3.3.2.1.2 China: Car Audio Market, by Speaker Unit
8.3.3.2.1.3 China: Car Audio Market, by Amplifier
8.3.3.3 India: Car Audio Market – Revenue and Forecast to 2027 (US$ Million)
8.3.3.3.1 India: Car Audio Market, by Component
8.3.3.3.1.1 India: Car Audio Market, by Head Unit
8.3.3.3.1.2 India: Car Audio Market, by Speaker Unit
8.3.3.3.1.3 India: Car Audio Market, by Amplifier
8.3.3.4 Japan: Car Audio Market – Revenue and Forecast to 2027 (US$ Million)
8.3.3.4.1 Japan: Car Audio Market, by Component
8.3.3.4.1.1 Japan: Car Audio Market, by Head Unit
8.3.3.4.1.2 Japan: Car Audio Market, by Speaker Unit
8.3.3.4.1.3 Japan: Car Audio Market, by Amplifier
8.3.3.5 South Korea: Car Audio Market – Revenue and Forecast to 2027 (US$ Million)
8.3.3.5.1 South Korea: Car Audio Market, by Component
8.3.3.5.1.1 South Korea: Car Audio Market, by Head Unit
8.3.3.5.1.2 South Korea: Car Audio Market, by Speaker Unit
8.3.3.5.1.3 South Korea: Car Audio Market, by Amplifier
8.3.3.6 Rest of Asia-Pacific: Car Audio Market – Revenue and Forecast to 2027 (US$ Million)
8.3.3.6.1 Rest of Asia-Pacific: Car Audio Market, by Component
8.3.3.6.1.1 Rest of Asia-Pacific: Car Audio Market, by Head Unit
8.3.3.6.1.2 Rest of Asia-Pacific: Car Audio Market, by Speaker Unit
8.3.3.6.1.3 Rest of Asia-Pacific: Car Audio Market, by Amplifier
8.4 MEA: Car Audio Market
8.4.1 MEA: Car Audio Market – Revenue and Forecast to 2027 (US$ Million)
8.4.2 MEA: Car Audio Market, by Component
8.4.2.1 MEA: Car Audio Market, by Head Unit
8.4.2.2 MEA: Car Audio Market, by Speaker Unit
8.4.2.3 MEA: Car Audio Market, by Amplifier
8.4.3 MEA: Car Audio Market, by Key Country
8.4.3.1 South Africa: Car Audio Market – Revenue and Forecast to 2027 (US$ Million)
8.4.3.1.1 South Africa: Car Audio Market, by Component
8.4.3.1.1.1 South Africa: Car Audio Market, by Head Unit
8.4.3.1.1.2 South Africa: Car Audio Market, by Speaker Unit
8.4.3.1.1.3 South Africa: Car Audio Market, by Amplifier
8.4.3.2 Rest of MEA: Car Audio Market – Revenue and Forecast to 2027 (US$ Million)
8.4.3.2.1 Rest of MEA: Car Audio Market, by Component
8.4.3.2.1.1 Rest of MEA: Car Audio Market, by Head Unit
8.4.3.2.1.2 Rest of MEA: Car Audio Market, by Speaker Unit
8.4.3.2.1.3 Rest of MEA: Car Audio Market, by Amplifier
8.5 SAM: Car Audio Market
8.5.1 SAM: Car Audio Market – Revenue and Forecast to 2027 (US$ Million)
8.5.2 SAM: Car Audio Market, by Component
8.5.2.1 SAM: Car Audio Market, by Head Unit
8.5.2.2 SAM: Car Audio Market, by Speaker Unit
8.5.2.3 SAM: Car Audio Market, by Amplifier
8.5.3 SAM: Car Audio Market, by Key Country
8.5.3.1 Brazil: Car Audio Market – Revenue and Forecast to 2027 (US$ Million)
8.5.3.1.1 Brazil: Car Audio Market, by Component
8.5.3.1.1.1 Brazil: Car Audio Market, by Head Unit
8.5.3.1.1.2 Brazil: Car Audio Market, by Speaker Unit
8.5.3.1.1.3 Brazil: Car Audio Market, by Amplifier
8.5.3.2 Argentina: Car Audio Market – Revenue and Forecast to 2027 (US$ Million)
8.5.3.2.1 Argentina: Car Audio Market, by Component
8.5.3.2.1.1 Argentina: Car Audio Market, by Head Unit
8.5.3.2.1.2 Argentina: Car Audio Market, by Speaker Unit
8.5.3.2.1.3 Argentina: Car Audio Market, by Amplifier
9. Company Profiles
9.1 Alpine Electronics, Inc.
9.1.1 Key Facts
9.1.2 Business Description
9.1.3 Products and Services
9.1.4 Financial Overview
9.1.5 SWOT Analysis
9.1.6 Key Developments
9.2 Continental AG
9.2.1 Key Facts
9.2.2 Business Description
9.2.3 Products and Services
9.2.4 Financial Overview
9.2.5 SWOT Analysis
9.2.6 Key Developments
9.3 Clarion Co., Ltd.
9.3.1 Key Facts
9.3.2 Business Description
9.3.3 Products and Services
9.3.4 Financial Overview
9.3.5 SWOT Analysis
9.3.6 Key Developments
9.4 Harman International
9.4.1 Key Facts
9.4.2 Business Description
9.4.3 Products and Services
9.4.4 Financial Overview
9.4.5 SWOT Analysis
9.4.6 Key Developments
9.5 Panasonic Corporation
9.5.1 Key Facts
9.5.2 Business Description
9.5.3 Products and Services
9.5.4 Financial Overview
9.5.5 SWOT Analysis
9.5.6 Key Developments
9.6 Pioneer Corporation
9.6.1 Key Facts
9.6.2 Business Description
9.6.3 Products and Services
9.6.4 Financial Overview
9.6.5 SWOT Analysis
9.6.6 Key Developments
9.7 Sony Corporation
9.7.1 Key Facts
9.7.2 Business Description
9.7.3 Products and Services
9.7.4 Financial Overview
9.7.5 SWOT Analysis
9.7.6 Key Developments
9.8 Visteon Corporation
9.8.1 Key Facts
9.8.2 Business Description
9.8.3 Products and Services
9.8.4 Financial Overview
9.8.5 SWOT Analysis
9.8.6 Key Developments
9.9 Hyundai Mobis
9.9.1 Key Facts
9.9.2 Business Description
9.9.3 Products and Services
9.9.4 Financial Overview
9.9.5 SWOT Analysis
9.9.6 Key Developments
9.10 Denso Ten
9.10.1 Key Facts
9.10.2 Business Description
9.10.3 Products and Services
9.10.4 Financial Overview
9.10.5 SWOT Analysis
10. Appendix
10.1 About The Insight Partners
10.2 Glossary
LIST OF TABLES
Table 1. Car audio system production volume analysis to 2027 (‘000 Units)
Table 2. Vehicle Production Statistics and Forecast to 2027 (‘000 Units)
Table 3. Car audio Market – Revenue, and Forecast to 2027 (US$ Million)
Table 4. North America: Car Audio Market, by Component – Revenue and Forecast to 2027 (US$ Million)
Table 5. North America: Car Audio Market, by Head Unit – Revenue and Forecast to 2027 (US$ Million)
Table 6. North America: Car Audio Market, by Speaker Unit – Revenue and Forecast to 2027 (US$ Million)
Table 7. North America: Car Audio Market, by Amplifier – Revenue and Forecast to 2027 (US$ Million)
Table 8. US: Car Audio Market, by Component –Revenue and Forecast to 2027 (US$ Million)
Table 9. US: Car Audio Market, by Head Unit –Revenue and Forecast to 2027 (US$ Million)
Table 10. US: Car Audio Market, by Speaker Unit –Revenue and Forecast to 2027 (US$ Million)
Table 11. US: Car Audio Market, by Amplifier –Revenue and Forecast to 2027 (US$ Million)
Table 12. Canada: Car Audio Market, by Component –Revenue and Forecast to 2027 (US$ Million)
Table 13. Canada: Car Audio Market, by Head Unit –Revenue and Forecast to 2027 (US$ Million)
Table 14. Canada: Car Audio Market, by Speaker Unit –Revenue and Forecast to 2027 (US$ Million)
Table 15. Canada: Car Audio Market, by Amplifier –Revenue and Forecast to 2027 (US$ Million)
Table 16. Mexico: Car Audio Market, by Component –Revenue and Forecast to 2027 (US$ Million)
Table 17. Mexico: Car Audio Market, by Head Unit –Revenue and Forecast to 2027 (US$ Million)
Table 18. Mexico: Car Audio Market, by Speaker Unit –Revenue and Forecast to 2027 (US$ Million)
Table 19. Mexico: Car Audio Market, by Amplifier –Revenue and Forecast to 2027 (US$ Million)
Table 20. Europe: Car Audio Market, by Component – Revenue and Forecast to 2027 (US$ Million)
Table 21. Europe: Car Audio Market, by Head Unit – Revenue and Forecast to 2027 (US$ Million)
Table 22. Europe: Car Audio Market, by Speaker Unit – Revenue and Forecast to 2027 (US$ Million)
Table 23. Europe: Car Audio Market, by Amplifier – Revenue and Forecast to 2027 (US$ Million)
Table 24. Germany: Car Audio Market, by Component –Revenue and Forecast to 2027 (US$ Million)
Table 25. Germany: Car Audio Market, by Head Unit –Revenue and Forecast to 2027 (US$ Million)
Table 26. Germany: Car Audio Market, by Speaker Unit –Revenue and Forecast to 2027 (US$ Million)
Table 27. Germany: Car Audio Market, by Amplifier –Revenue and Forecast to 2027 (US$ Million)
Table 28. France: Car Audio Market, by Component –Revenue and Forecast to 2027 (US$ Million)
Table 29. France: Car Audio Market, by Head Unit –Revenue and Forecast to 2027 (US$ Million)
Table 30. France: Car Audio Market, by Speaker Unit –Revenue and Forecast to 2027 (US$ Million)
Table 31. France: Car Audio Market, by Amplifier –Revenue and Forecast to 2027 (US$ Million)
Table 32. Italy: Car Audio Market, by Component –Revenue and Forecast to 2027 (US$ Million)
Table 33. Italy: Car Audio Market, by Head Unit –Revenue and Forecast to 2027 (US$ Million)
Table 34. Italy: Car Audio Market, by Speaker Unit –Revenue and Forecast to 2027 (US$ Million)
Table 35. Italy: Car Audio Market, by Amplifier –Revenue and Forecast to 2027 (US$ Million)
Table 36. UK: Car Audio Market, by Component –Revenue and Forecast to 2027 (US$ Million)
Table 37. UK: Car Audio Market, by Head Unit –Revenue and Forecast to 2027 (US$ Million)
Table 38. UK: Car Audio Market, by Speaker Unit –Revenue and Forecast to 2027 (US$ Million)
Table 39. UK: Car Audio Market, by Amplifier –Revenue and Forecast to 2027 (US$ Million)
Table 40. Russia: Car Audio Market, by Component –Revenue and Forecast to 2027 (US$ Million)
Table 41. Russia: Car Audio Market, by Head Unit –Revenue and Forecast to 2027 (US$ Million)
Table 42. Russia: Car Audio Market, by Speaker Unit –Revenue and Forecast to 2027 (US$ Million)
Table 43. Russia: Car Audio Market, by Amplifier –Revenue and Forecast to 2027 (US$ Million)
Table 44. Rest of Europe: Car Audio Market, by Component –Revenue and Forecast to 2027 (US$ Million)
Table 45. Rest of Europe: Car Audio Market, by Head Unit –Revenue and Forecast to 2027 (US$ Million)
Table 46. Rest of Europe: Car Audio Market, by Speaker Unit –Revenue and Forecast to 2027 (US$ Million)
Table 47. Rest of Europe: Car Audio Market, by Amplifier –Revenue and Forecast to 2027 (US$ Million)
Table 48. Asia-Pacific: Car Audio Market, by Component – Revenue and Forecast to 2027 (US$ Million)
Table 49. Asia-Pacific: Car Audio Market, by Head Unit – Revenue and Forecast to 2027 (US$ Million)
Table 50. Asia-Pacific: Car Audio Market, by Speaker Unit – Revenue and Forecast to 2027 (US$ Million)
Table 51. Asia-Pacific: Car Audio Market, by Amplifier – Revenue and Forecast to 2027 (US$ Million)
Table 52. Australia: Car Audio Market, by Component –Revenue and Forecast to 2027 (US$ Million)
Table 53. Australia: Car Audio Market, by Head Unit –Revenue and Forecast to 2027 (US$ Million)
Table 54. Australia: Car Audio Market, by Speaker Unit –Revenue and Forecast to 2027 (US$ Million)
Table 55. Australia: Car Audio Market, by Amplifier –Revenue and Forecast to 2027 (US$ Million)
Table 56. China: Car Audio Market, by Component –Revenue and Forecast to 2027 (US$ Million)
Table 57. China: Car Audio Market, by Head Unit –Revenue and Forecast to 2027 (US$ Million)
Table 58. China: Car Audio Market, by Speaker Unit –Revenue and Forecast to 2027 (US$ Million)
Table 59. China: Car Audio Market, by Amplifier –Revenue and Forecast to 2027 (US$ Million)
Table 60. India: Car Audio Market, by Component –Revenue and Forecast to 2027 (US$ Million)
Table 61. India: Car Audio Market, by Head Unit –Revenue and Forecast to 2027 (US$ Million)
Table 62. India: Car Audio Market, by Speaker Unit –Revenue and Forecast to 2027 (US$ Million)
Table 63. India: Car Audio Market, by Amplifier –Revenue and Forecast to 2027 (US$ Million)
Table 64. Japan: Car Audio Market, by Component –Revenue and Forecast to 2027 (US$ Million)
Table 65. Japan: Car Audio Market, by Head Unit –Revenue and Forecast to 2027 (US$ Million)
Table 66. Japan: Car Audio Market, by Speaker Unit –Revenue and Forecast to 2027 (US$ Million)
Table 67. Japan: Car Audio Market, by Amplifier –Revenue and Forecast to 2027 (US$ Million)
Table 68. South Korea: Car Audio Market, by Component –Revenue and Forecast to 2027 (US$ Million)
Table 69. South Korea: Car Audio Market, by Head Unit –Revenue and Forecast to 2027 (US$ Million)
Table 70. South Korea: Car Audio Market, by Speaker Unit –Revenue and Forecast to 2027 (US$ Million)
Table 71. South Korea: Car Audio Market, by Amplifier –Revenue and Forecast to 2027 (US$ Million)
Table 72. Rest of Asia-Pacific: Car Audio Market, by Component –Revenue and Forecast to 2027 (US$ Million)
Table 73. Rest of Asia-Pacific: Car Audio Market, by Head Unit –Revenue and Forecast to 2027 (US$ Million)
Table 74. Rest of Asia-Pacific: Car Audio Market, by Speaker Unit –Revenue and Forecast to 2027 (US$ Million)
Table 75. Rest of Asia-Pacific: Car Audio Market, by Amplifier –Revenue and Forecast to 2027 (US$ Million)
Table 76. MEA: Car Audio Market, by Component – Revenue and Forecast to 2027 (US$ Million)
Table 77. MEA: Car Audio Market, by Head Unit – Revenue and Forecast to 2027 (US$ Million)
Table 78. MEA: Car Audio Market, by Speaker Unit – Revenue and Forecast to 2027 (US$ Million)
Table 79. MEA: Car Audio Market, by Amplifier – Revenue and Forecast to 2027 (US$ Million)
Table 80. South Africa: Car Audio Market, by Component –Revenue and Forecast to 2027 (US$ Million)
Table 81. South Africa: Car Audio Market, by Head Unit –Revenue and Forecast to 2027 (US$ Million)
Table 82. South Africa: Car Audio Market, by Speaker Unit –Revenue and Forecast to 2027 (US$ Million)
Table 83. South Africa: Car Audio Market, by Amplifier –Revenue and Forecast to 2027 (US$ Million)
Table 84. Rest of MEA: Car Audio Market, by Component –Revenue and Forecast to 2027 (US$ Million)
Table 85. Rest of MEA: Car Audio Market, by Head Unit –Revenue and Forecast to 2027 (US$ Million)
Table 86. Rest of MEA: Car Audio Market, by Speaker Unit –Revenue and Forecast to 2027 (US$ Million)
Table 87. Rest of MEA: Car Audio Market, by Amplifier –Revenue and Forecast to 2027 (US$ Million)
Table 88. SAM: Car Audio Market, by Component – Revenue and Forecast to 2027 (US$ Million)
Table 89. SAM: Car Audio Market, by Head Unit – Revenue and Forecast to 2027 (US$ Million)
Table 90. SAM: Car Audio Market, by Speaker Unit – Revenue and Forecast to 2027 (US$ Million)
Table 91. SAM: Car Audio Market, by Amplifier – Revenue and Forecast to 2027 (US$ Million)
Table 92. Brazil: Car Audio Market, by Component –Revenue and Forecast to 2027 (US$ Million)
Table 93. Brazil: Car Audio Market, by Head Unit –Revenue and Forecast to 2027 (US$ Million)
Table 94. Brazil: Car Audio Market, by Speaker Unit –Revenue and Forecast to 2027 (US$ Million)
Table 95. Brazil: Car Audio Market, by Amplifier –Revenue and Forecast to 2027 (US$ Million)
Table 96. Argentina: Car Audio Market, by Component –Revenue and Forecast to 2027 (US$ Million)
Table 97. Argentina: Car Audio Market, by Head Unit –Revenue and Forecast to 2027 (US$ Million)
Table 98. Argentina: Car Audio Market, by Speaker Unit –Revenue and Forecast to 2027 (US$ Million)
Table 99. Argentina: Car Audio Market, by Amplifier –Revenue and Forecast to 2027 (US$ Million)
Table 100. Glossary of Terms
LIST OF FIGURES
Figure 1. Car audio Market Segmentation
Figure 2. Car audio Market Segmentation – By Geography
Figure 3. Global Car audio Market Overview
Figure 4. Car Audio Market, By Geography
Figure 5. Car audio Market, By Component
Figure 6. Car audio Market, By Speaker Unit
Figure 7. North America – PEST Analysis
Figure 8. Europe – PEST Analysis
Figure 9. Asia-Pacific – PEST Analysis
Figure 10. Middle East & Africa – PEST Analysis
Figure 11. South America – PEST Analysis
Figure 12. North America Tier 1 Suppliers – Market Share Analysis
Figure 13. Car audio Market Impact Analysis of Drivers and Restraints
Figure 14. Geographic Overview of Car Audio Market
Figure 15. Global: Car audio Market – Revenue and Forecast to 2027 (US$ Million)
Figure 16. Car Audio Market Revenue Share, by Component (2019 and 2027)
Figure 17. Head Unit: Car Audio Market – Revenue and Forecast to 2027 (US$ Million)
Figure 18. Manual Control: Car Audio Head Unit Market – Revenue and Forecast to 2027 (US$ Million)
Figure 19. Touch Control: Car Audio Head Unit Market – Revenue and Forecast to 2027 (US$ Million)
Figure 20. Speaker Unit: Car Audio Market – Revenue and Forecast to 2027 (US$ Million)
Figure 21. Speaker Unit: Car Audio Speaker Unit Market – Revenue and Forecast to 2027 (US$ Million)
Figure 22. Tweeter: Car Audio Speaker Unit Market – Revenue and Forecast to 2027 (US$ Million)
Figure 23. Subwoofer: Car Audio Speaker Unit Market – Revenue and Forecast to 2027 (US$ Million)
Figure 24. Amplifier: Car Audio Market – Revenue and Forecast to 2027 (US$ Million)
Figure 25. 2–Channel: Car Audio Market – Revenue and Forecast to 2027 (US$ Million)
Figure 26. 4–Channel: Car Audio Market – Revenue and Forecast to 2027 (US$ Million)
Figure 27. North America: Car Audio Market – Revenue and Forecast to 2027 (US$ Million)
Figure 28. North America: Car Audio Market Revenue Share, by Component (2019 and 2027)
Figure 29. North America: Car Audio Market Revenue Share, by Head Unit (2019 and 2027)
Figure 30. North America: Car Audio Market Revenue Share, by Speaker Unit (2019 and 2027)
Figure 31. North America: Car Audio Market Revenue Share, by Amplifier (2019 and 2027)
Figure 32. North America: Car Audio Market Revenue Share, by Key Country (2019 and 2027)
Figure 33. US: Car Audio Market – Revenue and Forecast to 2027 (US$ Million)
Figure 34. Canada: Car Audio Market – Revenue and Forecast to 2027 (US$ Million)
Figure 35. Mexico: Car Audio Market – Revenue and Forecast to 2027 (US$ Million)
Figure 36. Europe: Car Audio Market – Revenue and Forecast to 2027 (US$ Million)
Figure 37. Europe: Car Audio Market Revenue Share, by Component (2019 and 2027)
Figure 38. Europe: Car Audio Market Revenue Share, by Head Unit (2019 and 2027)
Figure 39. Europe: Car Audio Market Revenue Share, by Speaker Unit (2019 and 2027)
Figure 40. Europe: Car Audio Market Revenue Share, by Amplifier (2019 and 2027)
Figure 41. Europe: Car Audio Market Revenue Share, by Key Country (2019 and 2027)
Figure 42. Germany: Car Audio Market – Revenue and Forecast to 2027 (US$ Million)
Figure 43. France: Car Audio Market – Revenue and Forecast to 2027 (US$ Million)
Figure 44. Italy: Car Audio Market – Revenue and Forecast to 2027 (US$ Million)
Figure 45. UK: Car Audio Market – Revenue and Forecast to 2027 (US$ Million)
Figure 46. Russia: Car Audio Market – Revenue and Forecast to 2027 (US$ Million)
Figure 47. Rest of Europe: Car Audio Market – Revenue and Forecast to 2027 (US$ Million)
Figure 48. Asia-Pacific: Car Audio Market – Revenue and Forecast to 2027 (US$ Million)
Figure 49. Asia-Pacific: Car Audio Market Revenue Share, by Component (2019 and 2027)
Figure 50. Asia-Pacific: Car Audio Market Revenue Share, by Head Unit (2019 and 2027)
Figure 51. Asia-Pacific: Car Audio Market Revenue Share, by Speaker Unit (2019 and 2027)
Figure 52. Asia-Pacific: Car Audio Market Revenue Share, by Amplifier (2019 and 2027)
Figure 53. Asia-Pacific: Car Audio Market Revenue Share, by Key Country (2019 and 2027)
Figure 54. Australia: Car Audio Market – Revenue and Forecast to 2027 (US$ Million)
Figure 55. China: Car Audio Market – Revenue and Forecast to 2027 (US$ Million)
Figure 56. India: Car Audio Market – Revenue and Forecast to 2027 (US$ Million)
Figure 57. Japan: Car Audio Market – Revenue and Forecast to 2027 (US$ Million)
Figure 58. South Korea: Car Audio Market – Revenue and Forecast to 2027 (US$ Million)
Figure 59. Rest of Asia-Pacific: Car Audio Market – Revenue and Forecast to 2027 (US$ Million)
Figure 60. MEA: Car Audio Market – Revenue and Forecast to 2027 (US$ Million)
Figure 61. MEA: Car Audio Market Revenue Share, by Component (2019 and 2027)
Figure 62. MEA: Car Audio Market Revenue Share, by Head Unit (2019 and 2027)
Figure 63. MEA: Car Audio Market Revenue Share, by Speaker Unit (2019 and 2027)
Figure 64. MEA: Car Audio Market Revenue Share, by Amplifier (2019 and 2027)
Figure 65. MEA: Car Audio Market Revenue Share, by Key Country (2019 and 2027)
Figure 66. South Africa: Car Audio Market – Revenue and Forecast to 2027 (US$ Million)
Figure 67. Rest of MEA: Car Audio Market – Revenue and Forecast to 2027 (US$ Million)
Figure 68. SAM: Car Audio Market – Revenue and Forecast to 2027 (US$ Million)
Figure 69. SAM: Car Audio Market Revenue Share, by Component (2019 and 2027)
Figure 70. SAM: Car Audio Market Revenue Share, by Head Unit (2019 and 2027)
Figure 71. SAM: Car Audio Market Revenue Share, by Speaker Unit (2019 and 2027)
Figure 72. SAM: Car Audio Market Revenue Share, by Amplifier (2019 and 2027)
Figure 73. SAM: Car Audio Market Revenue Share, by Key Country (2019 and 2027)
Figure 74. Brazil: Car Audio Market – Revenue and Forecast to 2027 (US$ Million)
Figure 75. Argentina: Car Audio Market – Revenue and Forecast to 2027 (US$ Million)
The List of Companies - Car Audio Market
- Alpine Electronics, Inc.
- Continental AG
- Clarion Co., Ltd.
- Harman International
- Panasonic Corporation
- Pioneer Corporation
- Sony Corporation
- Visteon Corporation
- Hyundai Mobis
- Denso Ten
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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