Market size and forecast: Automotive Audio Market

Market size and forecast: Automotive Audio Market

Tech Highlights:

  • The car audio market is also witnessing several developments in the technology such as voice-enabled audio systems and smartphone controlled audio systems. Further, with the development of ADAS and connected cars technology, the car audio market is experiencing a drastic change with companies focusing on their product development to efficiently compete with their rivals.

  • Automotive industry throughout the globe is evolving and adopting advanced technological developments and innovations, along with increased focus on driver’s comfort and safety.

Voice recognized market in North American region is expected to grow with the highest CAGR
Demand for superior driving experience with advance voice controlled assistants such as Siri and Cortana while driving is fueling the demand for voice recognized car audio system. However, in coming years the voice recognized car audio technology would enable the system to ignore intrusive off-axis suspension or speakers, which would further enable the passengers to communicate simultaneously with the system as well as other passengers without any worry. However, market is still in emerging stage and have comparatively less market size than non-voice recognized audio devices. All these factors are expected to create more demand for voice recognized car audio system and fuel the growth of car audio market. Car audio system manufacturers are looking at voice recognized audio system as the most lucrative feature to add in the car audio system during the forecast period.

Smartphones over the year have become a key integral of our lifestyle and therefore, most of the technologies discovered go hand in hand with the growth of smartphone penetration across the globe. Most of the company fitted audio system these days comes with bluetooth and other wireless controlled stereo system. Most vehicles manufactured after 2013 allowed drivers to communicate with smart phones after connecting audio devices via Bluetooth. Streaming audio via internet radio application on both iPhone and Android devices have become very common, and the product aftermarket gear is pushing the envelope beyond that in addition. This trend is expected to complement the growth of car audio market

Smartphone controlled market expected to blossom at a rapid pace and fuel the growth of car audio market

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