Automotive speaker is one of the crucial accessories involved in the vehicle audio system. Various automobile manufacturers, including Mercedes-Benz, BMW, Bentley, Audi etc., establish partnership with sound system manufacturers to incorporate advanced audio systems into their vehicles. This acts as one of the driving factor. Additionally, the rising demand for high-end premium and luxury cars across the globe further drives the demand for automotive speakers.
MARKET SCOPE
The "Global Automotive Speaker Market Analysis to 2028" is a specialized and in-depth study of the automotive and transportation industry with a special focus on the global market trend analysis. The report aims to provide an overview of the automotive speaker market with detailed market segmentation by type, position, vehicle type, and geography. The report provides key statistics on the market status of the leading automotive speaker market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on type, the global automotive speaker market is segmented into 2-way speaker, 3-way speaker, 4-way speaker, and 5-way speaker.
- On the basis of position, the market is segmented into door, dashboard and others.
- Based on vehicle type, the market is bifurcated into passenger cars and commercial vehicles.
MARKET DYNAMICS
Drivers:
- Increasing production of vehicles in many developing countries of Asia.
- Rising urbanization and increasing per capita disposable income to boost the market growth of automotive speakers.
- Rapidly changing lifestyle and growing inclination towards entertainment systems further drive the market growth.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The automotive speaker market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the automotive speaker market in these regions.
IMPACT OF COVID-19 ON AUTOMOTIVE SPEAKER MARKET
The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities. This pandemic restricted the movement of people from one place to another. Consequently, demand for automobiles decreased drastically all over the world. These all has impacted the automotive speaker market negatively.
MARKET PLAYERS
The report covers key developments in the automotive speaker market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from automotive speaker market are anticipated to lucrative growth opportunities in the future with the rising demand for automotive speaker in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the automotive speaker market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Alpine Electronics, Inc.
- Blaupunkt
- Bose Corporation
- Continental AG
- Dynaudio
- HARMAN International
- JL Audio
- JVCKENWOOD Corporation
- Pioneer Corporation
- Sony Corporation