Automotive Speaker Market Commodities, High Growth Opportunities, Segmentation, Market Trends By 2023-2032|Alpine Electronics Inc., Bose Corporation, JVCKENWOOD Corporation, Harman International Industries Inc., Pioneer Corporation

The Automotive Speaker Global Market Report 2023 by The Business Research Company, provides automotive speaker market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.

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According to The Business Research Company’s Automotive Speaker Global Market Report 2023, the global automotive speaker market size will grow from $5.46 billion in 2022 to $6.04 billion in 2023 at a compound annual growth rate (CAGR) of 10.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global automotive speaker is expected to grow to $8.48 billion in 2027 at a CAGR of 8.9%.

The rising demand for entertainment options is expected to propel the growth of the automotive speaker market going forward. The entertainment options refer to the idea of getting entertained through some mediums. The different entertainment options such as songs that are preferred by the consumers will result in the usage of speakers in automobiles.

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The automotive speaker market is segmented:

1) By Type: 2-Way Speaker, 3-Way Speaker, 4-Way Speaker

2) By Vehicle Type: Passenger Car, Commercial Vehicle

3) By Speaker Type: Subwoofer, Midbass, Midrange, Tweeter

4) By Application: Voice Assistance, Entertainment, Warnings and Alerts, Guidance and Navigation, Automatic Pedestrian Alert System, Other Applications

5) By Sales Channel: Original Equipment Manufacturer, After Market

New product innovations have emerged as a key trend gaining popularity in the automotive speaker market. Major players operating in the automotive speaker market are focused on the development of new and innovative products to strengthen their market position. For instance, in September 2021, Harman International Industries Inc., a US-based audio electronics company that provides automotive speakers launched JBL Club 605 CSQ, a Bluetooth-enabled car speaker system. The new speaker is unique in such a way that it includes a carbon fiber woofer with plus one architecture, which claims to offer hard-hitting bass and long performance life.

The automotive speaker market report table of contents includes: