Authored By: Sarah
13 Feb 2025

Latest News- Automotive Audio Speakers Market: OEM is expected to lead the Distribution Channel segment during 2024-2028

The Automotive Audio Speakers Market is being driven by Availability of cost-effective aftermarket speakers

The Automotive Audio Speakers Market is expected to grow at a CAGR of 7.82% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 9024.4 million. The automotive industry has witnessed a notable evolution in the realm of in-vehicle entertainment systems over the past two decades. As automobile infotainment systems continue to distinguish themselves through advanced features and enhanced processing power, manufacturers are partnering with technology providers to integrate cutting-edge technologies into their product offerings. One such collaboration is between Amazon and several automakers, including BMW, Ford, Toyota/Lexus, and Audi, to incorporate Amazon's Alexa, an intuitive artificial intelligence-based voice assistant, into their infotainment systems. This integration of IoT-enabled smart speakers is set to fuel the expansion of the global automotive audio speakers market throughout the forecast period. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

  • Distribution Channel
    • OEM
    • Aftermarket
  • Application
    • Passenger vehicles
    • Commercial vehicles
  • Installation Location
    • Door speakers
    • Dashboard speakers
    • Rear deck speakers
  • Geography
    • APAC
      • China
      • Japan
    • North America
      • Canada
      • US
    • Europe
      • Germany
    • South America
      • Middle East and Africa

      According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

      • Availability of cost-effective aftermarket speakers
      • Growing demand for differentiated in-car experiences
      • Increased R and D to deliver superior products

      However, the market also witnesses some limitations, which are as follows:

      • Design complexities and high costs of advanced automotive audio systems
      • Proliferation of counterfeit products
      • Sourcing of raw materials for speaker construction

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      Market Scope in Automotive Audio Speakers Market Research Report

      Market Scope

      Report Coverage

      Details

      Page number

      174

      Base year

      2023

      Historic period

      2018-2022

      Forecast period

      2024-2028

      Growth momentum & CAGR

      Accelerate at a CAGR of 7.82%

      Market growth 2024-2028

      USD 9024.4 million

      Market structure

      market_structure.ucfirst

      YoY growth 2023-2024(%)

      7.1

      Key countries

      China, US, Japan, Germany, and Canada

      Competitive landscape

      Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks

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      Find out which segment is leading the market by accessing the free PDF report

      Research Analysis Overview

      The Automotive Audio Speakers Market encompasses voice-enabled audio systems, speakers, sound amplifiers, tweeters, and in-car entertainment for passenger cars and passenger vehicles. Automakers and audio system manufacturers prioritize safety features and onboard entertainment to enhance the driving experience. Traffic congestion drives demand for high-quality sound systems. Aftermarket sound systems, including Dolby technologies, benefit from vehicle production & sales and disposable incomes. Future advancements include 5G, WiFi, Bluetooth, and high-volume speakers. Counterfeit products pose a challenge to market growth.

      Market Research Overview

      The global automotive components and equipment market encompasses businesses producing parts and accessories for various automotive sectors, including passenger cars (PCs), electric vehicles (EVs), commercial vehicles (CVs), heavy-duty vehicles, off-road vehicles, motorcycles, scooters, quad bikes, and three-wheelers. According to Technavio, the market size is determined by the consolidated revenue generated by manufacturers of automotive components and equipment. Factors driving growth in this market include the surge in electronic components adoption in automobiles, such as electronic control units (ECUs) and amplifiers for automotive audio systems, including speakers, tweeters, and sound amplifiers, in response to the increasing sales of PCs, EVs, and motorcycles.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.


      Contacts

      Technavio Research
      Jesse Maida
      Media & Marketing Executive
      US: +1 844 364 1100
      UK: +44 203 893 3200
      Email: media@technavio.com
      Website: www.technavio.com/

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