The "Global Automotive Speaker Market by Type (Midrange, Subwoofers, Tweeters), Placement (Back Shelf, Dashboard, Doors), Vehicle Type, Sales Channel - Forecast 2024-2030" report has been added to ResearchAndMarkets.com's offering.
The Automotive Speaker Market grew from USD 5.68 billion in 2023 to USD 6.09 billion in 2024. It is expected to continue growing at a CAGR of 7.67%, reaching USD 9.53 billion by 2030.
Continuous technological innovations such as 3D sound systems elevate the listening experience, thereby boosting consumer interest and primarily driving market expansion. However, the higher costs associated with advanced audio systems and space limitations within modern vehicle designs hinder the demand for automotive speakers. Moreover, the integration of smart speakers with AI capabilities is expanding into emerging markets with rising vehicle demand, thus increasing the demand for advanced automotive speakers in the market.
Regional Insights
In the Americas, there is a growing demand for high-quality, durable automotive speakers with advanced technological integrations such as AI and smart connectivity features. In the U.S. there is a growing demand for premium audio systems in luxury vehicles; in Canada, consumers lean towards sustainable and energy-efficient audio solutions. The Americas region is witnessing significant advancements in digital technologies, with patents emphasizing sound optimization and enhanced connectivity, driving the demand for advanced automotive speakers within the region.
The APAC region is noticing robust growth with the rapid adoption of cutting-edge technologies, driven by significant automotive production and sales, particularly in countries such as China and Japan. The growing demand for intelligent, interconnected systems is driving the automotive speaker market in China. Moreover, Japan prioritizes high-tech, reliable, and aesthetically pleasing compact designs. India, while cost-conscious, is gradually embracing features that enhance connectivity and overall quality, signaling a shift towards smarter vehicle systems.
The EMEA region showcases a diverse demand with increased consumer preference for advanced technologies such as 3D sound systems, adhering to stringent EU regulations on electronic equipment, and prioritizing safety and quality. The Middle East region shows a strong demand for customized high-end audio systems due to its expanding luxury vehicle market. Africa, with its varying economic landscapes, focuses on affordability and durable products suitable for its market conditions.
Recent Developments
JBL Launches Legend 700 an Innovation in Automotive Audio Systems
JBL introduced the Legend 700, a component speaker system designed specifically for automotive use. This system is engineered to enhance in-car entertainment by delivering superior sound quality. This innovative system aims to provide unmatched acoustical performance by accurately reproducing clear, high-fidelity audio across all types of music. The launch represents a significant step forward in the evolution of vehicle audio systems, highlighting JBL's commitment to combining technological advances with user-centric functionalities to redefine the standard for automotive sound systems.
HARMAN Enhances Audio Solutions Portfolio with Acquisition of Roon Labs
HARMAN International, a wholly-owned subsidiary of Samsung Electronics Co., Ltd., strategically expanded its audio technology capabilities by acquiring Roon Labs, a platform known for its high-quality, multi-device, and multi-room audio technology. This acquisition aims to leverage Roon's innovative software solutions to improve HARMAN's existing range of automotive, consumer, and enterprise products by enhancing audio performance and listener experiences across various environments. This move demonstrates HARMAN's ongoing commitment to transformation and leadership within the audio technology industry.
Panasonic Automotive and Fisker Inc. Collaborates for Innovation of Enhanced Automotive Audio Experience
Panasonic Automotive partnered with electric vehicle manufacturer Fisker Inc. to create the Fisker Pulse, a high-end audio system designed exclusively for Fisker's vehicles. This partnership aims to push the bounds of innovation in vehicle audio systems, focusing on immersive sound quality that complements the unique design aesthetics of Fisker cars. The initiative emphasizes a shared commitment to sustainability, enhancing the driving experience while adhering to environmental considerations integral to both brands.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 187 |
| Forecast Period | 2024 - 2030 |
| Estimated Market Value (USD) in 2024 | $6.09 Billion |
| Forecasted Market Value (USD) by 2030 | $9.53 Billion |
| Compound Annual Growth Rate | 7.6% |
| Regions Covered | Global |
Market Insights
Market Drivers
- Rising consumer preferences for enhanced in-car entertainment
- Growing popularity of custom installation of audio systems
- Growth in automotive infotainment systems
Market Restraints
- Space limitations within modern vehicles
Market Opportunities
- Ongoing technological advancements in automotive audio systems and integration of AI
- Development of sustainable audio technology
Market Challenges
- Concerns related to system failures and technological limitations of automotive speakers
Market Segmentation Analysis
- Type: Growing preference towards midrange speakers due to its versatility, and broader frequency range
- Sales Channel: Proliferation of aftermarket speakers due to its broad flexibility in customizations
Industry Insights
- Market Disruption Analysis
- Porter's Five Forces Analysis
- Value Chain & Critical Path Analysis
- Pricing Analysis
- Technology Analysis
- Patent Analysis
- Trade Analysis
- Regulatory Framework Analysis
Key Company Profiles
- ALPS ALPINE CO., LTD.
- BANG & OLUFSEN GROUP
- Bose Corporation
- Bpin Private Limited
- Burmester Audiosysteme GmbH
- Dynaudio A/S
- Elettromedia S.p.A.
- Eton Audio
- Faurecia Clarion Electronics Co., Ltd.
- HARMAN INTERNATIONAL INDUSTRIES INC
- JL Audio by Garmin Ltd.
- JVCKENWOOD Holdings, Inc.
- Memphis Audio.
- MTX International.
- Panasonic Corporation
- Pioneer Corporation
- Polk Audio, Inc. by Masimo Corporation
- RE Audio by US Amps
- Rockford Corporation
- Scan-Speak A/S
- Sony Corporation
- Stillwater Designs and Audio Inc.
- Sundown Audio LLC
- Tymphany HK Limited.
Market Segmentation & Coverage
Type
- Midrange
- Subwoofers
- Tweeters
- Woofers
Placement
- Back Shelf
- Dashboard
- Doors
Vehicle Type
- Commercial Vehicles
- Passenger Cars
Sales Channel
- Aftermarket
- Original Equipment Manufacturer
Region
Americas
- Argentina
- Brazil
- Canada
- Mexico
- United States
- California
- Florida
- Illinois
- New York
- Ohio
- Pennsylvania
- Texas
Asia-Pacific
- Australia
- China
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom
For more information about this report visit https://www.researchandmarkets.com/r/vmje8h
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View source version on businesswire.com: https://www.businesswire.com/news/home/20240925251746/en/
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