Automotive Audio Speakers Market to grow by USD 7,682.2 million from 2022 to 2027 | Availability of cost-effective speakers in the automotive aftermarket to boost market growth - Technavio

NEW YORK, July 6, 2023 /PRNewswire/ -- The automotive audio speakers market size is forecast to increase by USD 7,682.2 million from 2022 to 2027, at a CAGR of 7.2%, according to the recent market study by Technavio. The growth of the market will be driven by the availability of cost-effective aftermarket speakers, growing demand for differentiated in-car experiences, and increased R&D to deliver superior products. Charts & data tables about market and segment sizes for a historic period of five (2017-2021) years have been covered in this report. Download The Sample Report

Technavio has extensively analyzed 15 major vendors, including Alps Alpine Co. Ltd., Aurelius Group, Bang and Olufsen Group, BASSOHOLIC, Bose Corp., Burmester Audiosysteme GmbH, Continental AG, DENSO Corp., Fender Musical Instruments Corp., Goertek Inc., JL Audio Inc., JVCKENWOOD Corp., Masimo Corp., McIntosh Group, Meridian Audio Ltd., Pioneer Corp., Samsung Electronics Co. Ltd., Sony Group Corp., VerVent Audio Group, and Panasonic Holdings Corp.

Key Benefits for Industry Players & Stakeholders – 

• The report offers information on the criticality of vendor inputs, including R&D, CAPEX, and technology.
• It also provides detailed analyses of the market's competitive landscape and vendors' product offerings.
• The report also provides a qualitative and quantitative analysis of vendors to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.

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Automotive Audio Speakers Market - Segmentation Assessment

The market is segmented by distribution Channel (OEM and Aftermarket), Application (Passenger vehicles and Commercial vehicles), and Geography (APAC, North America, Europe, South America, and Middle East and Africa)

• The market share growth in the OEM segment will be significant during the forecast period. As OEM is the original manufacturer of the vehicle's components, OEM auto parts are the same ones used to build the vehicle. OEM parts typically come with a guarantee that the vehicle will work with them. OEMs can order directly from automakers and typically sell their products through branded auto dealers. OEM products are suggested through automakers and are frequently essentially more costly than secondary selling parts. However, new technologies such as 3D printing can transform the OEM supply chain and are expected to drive segment growth during the forecast period.

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Automotive Audio Speakers Market - Market Dynamics

Key drivers

The availability of cost-effective speakers in the automotive aftermarket is one of the key factors driving the market growth. The demand for after-retail auto parts and administration is developing due to rising consumer preference for better products and sound quality as they invest more time in their vehicles. Furthermore, OEMs are providing aftermarket products with additional features and increasing consumer expectations. There is a strong demand for the aftermarket replacement of speakers or entire sound systems due to their low prices. Hence, these factors are expected to drive the market growth during the forecast period.

Major Trends

The emergence of IoT-enabled smart speakers is one of the major trends shaping the market. The speakers are added with the latest features and rapid processing power for delivering a personalized experience in vehicles. Furthermore, manufacturers are collaborating with technology providers to include advanced features in more segments of their product portfolio to attract more customers.  For example, Amazon has collaborated with several car manufacturers to integrate Alexa, its intuitive, artificial intelligence-based voice assistant, into their mainstream automotive infotainment systems to give the best experience. Hence, the emergence of IoT-enabled smart speakers will drive the growth of the market during the forecast period.

Significant Challenges

Design complexities and high costs of advanced automotive audio systems are significant challenges restricting market growth. Modern luxury and premium cars include numerous speakers, amplifiers, and tweeters, which increase the overall cost. For example, Burmester Audiosysteme offers a 3D sound experience which is a specially crafted sound system that is priced at more than USD 5,000. As a result, the high prices of such advanced audio systems make them unaffordable to many potential customers. Hence, these factors are expected to restrict the market growth during the forecast period.

Drivers, Trends, and challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report!

What are the key data covered in this Automotive Audio Speakers Market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the automotive audio speakers market between 2023 and 2027
• Precise estimation of the size of the automotive audio speakers market and its contribution to the market with a focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the automotive audio speakers market across APAC, North America, Europe, South America, and the Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of automotive audio speakers market vendors

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Table of Contents

1 Executive Summary

• 1.1 Market Overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Distribution Channel
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Application
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global automotive audio speakers market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on global automotive audio speakers market 2017 - 2021 ($ million)

• 4.2 Distribution Channel Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – Distribution Channel Segment 2017 - 2021 ($ million)

• 4.3 Application Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – Application Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Distribution Channel

• 6.1 Market segments
• Exhibit 30: Chart on Distribution Channel - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Distribution Channel - Market share 2022-2027 (%)

• 6.2 Comparison by Distribution Channel 
• Exhibit 32: Chart on Comparison by Distribution Channel
• Exhibit 33: Data Table on Comparison by Distribution Channel

• 6.3 OEM - Market size and forecast 2022-2027 
• Exhibit 34: Chart on OEM - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on OEM - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on OEM - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on OEM - Year-over-year growth 2022-2027 (%)

• 6.4 Aftermarket - Market size and forecast 2022-2027 
• Exhibit 38: Chart on Aftermarket - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Aftermarket - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Aftermarket - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Aftermarket - Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Distribution Channel 
• Exhibit 42: Market opportunity by Distribution Channel ($ million)
• Exhibit 43: Data Table on Market opportunity by Distribution Channel ($ million)

7 Market Segmentation by Application

• 7.1 Market segments
• Exhibit 44: Chart on Application - Market share 2022-2027 (%)
• Exhibit 45: Data Table on Application - Market share 2022-2027 (%)

• 7.2 Comparison by Application 
• Exhibit 46: Chart on Comparison by Application
• Exhibit 47: Data Table on Comparison by Application

• 7.3 Passenger vehicles - Market size and forecast 2022-2027 
• Exhibit 48: Chart on Passenger vehicles - Market size and forecast 2022-2027 ($ million)
• Exhibit 49: Data Table on Passenger vehicles - Market size and forecast 2022-2027 ($ million)
• Exhibit 50: Chart on Passenger vehicles - Year-over-year growth 2022-2027 (%)
• Exhibit 51: Data Table on Passenger vehicles - Year-over-year growth 2022-2027 (%)

• 7.4 Commercial vehicles - Market size and forecast 2022-2027 
• Exhibit 52: Chart on Commercial vehicles - Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Data Table on Commercial vehicles - Market size and forecast 2022-2027 ($ million)
• Exhibit 54: Chart on Commercial vehicles - Year-over-year growth 2022-2027 (%)
• Exhibit 55: Data Table on Commercial vehicles - Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Application 
• Exhibit 56: Market opportunity by Application ($ million)
• Exhibit 57: Data Table on Market opportunity by Application ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 58: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 59: Chart on Market share by geography 2022-2027 (%)
• Exhibit 60: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 61: Chart on Geographic comparison
• Exhibit 62: Data Table on Geographic comparison

• 9.3 APAC - Market size and forecast 2022-2027 
• Exhibit 63: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 64: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 65: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 66: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.4 North America - Market size and forecast 2022-2027 
• Exhibit 67: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 68: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 69: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 70: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.5 Europe - Market size and forecast 2022-2027 
• Exhibit 71: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 72: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 73: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 74: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027 
• Exhibit 75: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 76: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 77: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 79: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 80: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 81: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 China - Market size and forecast 2022-2027 
• Exhibit 83: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 84: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 85: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.9 US - Market size and forecast 2022-2027 
• Exhibit 87: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 88: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 89: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.10 Japan - Market size and forecast 2022-2027 
• Exhibit 91: Chart on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 92: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 93: Chart on Japan - Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on Japan - Year-over-year growth 2022-2027 (%)

• 9.11 Germany - Market size and forecast 2022-2027 
• Exhibit 95: Chart on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 96: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 97: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.12 Canada - Market size and forecast 2022-2027 
• Exhibit 99: Chart on Canada - Market size and forecast 2022-2027 ($ million)
• Exhibit 100: Data Table on Canada - Market size and forecast 2022-2027 ($ million)
• Exhibit 101: Chart on Canada - Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on Canada - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 103: Market opportunity by geography ($ million)
• Exhibit 104: Data Tables on Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 105: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape
• Exhibit 106: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 107: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 108: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
• Exhibit 109: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 110: Matrix on vendor position and classification

• 12.3 Alps Alpine Co. Ltd.
• Exhibit 111: Alps Alpine Co. Ltd. - Overview
• Exhibit 112: Alps Alpine Co. Ltd. - Business segments
• Exhibit 113: Alps Alpine Co. Ltd. - Key news
• Exhibit 114: Alps Alpine Co. Ltd. - Key offerings
• Exhibit 115: Alps Alpine Co. Ltd. - Segment focus

• 12.4 Aurelius Group
• Exhibit 116: Aurelius Group - Overview
• Exhibit 117: Aurelius Group - Business segments
• Exhibit 118: Aurelius Group - Key offerings
• Exhibit 119: Aurelius Group - Segment focus

• 12.5 Bang and Olufsen Group
• Exhibit 120: Bang and Olufsen Group - Overview
• Exhibit 121: Bang and Olufsen Group - Business segments
• Exhibit 122: Bang and Olufsen Group - Key offerings
• Exhibit 123: Bang and Olufsen Group - Segment focus

• 12.6 Bose Corp.
• Exhibit 124: Bose Corp. - Overview
• Exhibit 125: Bose Corp. - Product / Service
• Exhibit 126: Bose Corp. - Key news
• Exhibit 127: Bose Corp. - Key offerings

• 12.7 Burmester Audiosysteme GmbH 
• Exhibit 128: Burmester Audiosysteme GmbH - Overview
• Exhibit 129: Burmester Audiosysteme GmbH - Product / Service
• Exhibit 130: Burmester Audiosysteme GmbH - Key offerings

• 12.8 Continental AG
• Exhibit 131: Continental AG - Overview
• Exhibit 132: Continental AG - Business segments
• Exhibit 133: Continental AG - Key offerings
• Exhibit 134: Continental AG - Segment focus

• 12.9 DENSO Corp.
• Exhibit 135: DENSO Corp. - Overview
• Exhibit 136: DENSO Corp. - Business segments
• Exhibit 137: DENSO Corp. - Key news
• Exhibit 138: DENSO Corp. - Key offerings
• Exhibit 139: DENSO Corp. - Segment focus

• 12.10 Fender Musical Instruments Corp. 
• Exhibit 140: Fender Musical Instruments Corp. - Overview
• Exhibit 141: Fender Musical Instruments Corp. - Product / Service
• Exhibit 142: Fender Musical Instruments Corp. - Key offerings

• 12.11 JVCKENWOOD Corp.
• Exhibit 143: JVCKENWOOD Corp. - Overview
• Exhibit 144: JVCKENWOOD Corp. - Business segments
• Exhibit 145: JVCKENWOOD Corp. - Key news
• Exhibit 146: JVCKENWOOD Corp. - Key offerings
• Exhibit 147: JVCKENWOOD Corp. - Segment focus

• 12.12 Masimo Corp.
• Exhibit 148: Masimo Corp. - Overview
• Exhibit 149: Masimo Corp. - Product / Service
• Exhibit 150: Masimo Corp. - Key offerings

• 12.13 McIntosh Group
• Exhibit 151: McIntosh Group - Overview
• Exhibit 152: McIntosh Group - Product / Service
• Exhibit 153: McIntosh Group - Key offerings

• 12.14 Panasonic Holdings Corp. 
• Exhibit 154: Panasonic Holdings Corp. - Overview
• Exhibit 155: Panasonic Holdings Corp. - Business segments
• Exhibit 156: Panasonic Holdings Corp. - Key news
• Exhibit 157: Panasonic Holdings Corp. - Key offerings
• Exhibit 158: Panasonic Holdings Corp. - Segment focus

• 12.15 Pioneer Corp.
• Exhibit 159: Pioneer Corp. - Overview
• Exhibit 160: Pioneer Corp. - Business segments
• Exhibit 161: Pioneer Corp. - Key offerings
• Exhibit 162: Pioneer Corp. - Segment focus

• 12.16 Samsung Electronics Co. Ltd. 
• Exhibit 163: Samsung Electronics Co. Ltd. - Overview
• Exhibit 164: Samsung Electronics Co. Ltd. - Business segments
• Exhibit 165: Samsung Electronics Co. Ltd. - Key news
• Exhibit 166: Samsung Electronics Co. Ltd. - Key offerings
• Exhibit 167: Samsung Electronics Co. Ltd. - Segment focus

• 12.17 Sony Group Corp.
• Exhibit 168: Sony Group Corp. - Overview
• Exhibit 169: Sony Group Corp. - Business segments
• Exhibit 170: Sony Group Corp. - Key news
• Exhibit 171: Sony Group Corp. - Key offerings
• Exhibit 172: Sony Group Corp. - Segment focus

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 173: Inclusions checklist
• Exhibit 174: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 175: Currency conversion rates for US$

• 13.4 Research methodology
• Exhibit 176: Research methodology
• Exhibit 177: Validation techniques employed for market sizing
• Exhibit 178: Information sources

• 13.5 List of abbreviations
• Exhibit 179: List of abbreviations

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base comprises enterprises of all sizes, including over 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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