Global Automotive Audio Speakers Market 2019-2023 | Emergence of IoT-enabled Smart Speakers to Boost Growth | Technavio

LONDON–(BUSINESS WIRE)–lt;a href=”https://twitter.com/hashtag/Research?src=hash” target=”_blank”gt;#Researchlt;/agt;–The global automotive audio speakers market is expected to post a CAGR
of over 5% during the period 2019-2023, according to the latest market
research report by Technavio.


The global automotive industry is experiencing rapidly-changing dynamics
as the increasing penetration of electronic content in vehicles has
rendered the global automotive market highly competitive. The most
common electronic features are Bluetooth connectivity, music streaming,
and navigation system. The infotainment system provides scope to
integrate a vehicle’s audio, navigation, and climate systems with
speakers. Thus, automotive audio speakers have evolved as one of the
essential components in vehicles. Moreover, premium features that were
limited to luxury vehicles are now being integrated into lower vehicle
segments, which has heightened consumer expectations in lower-segment
vehicles as well. Thus, the trend of adopting such advanced automotive
infotainment systems is expected to drive the global automotive audio
speakers market during the forecast period.

As per Technavio, the emergence of IoT-enabled smart speakers will have
a positive impact on the market and contribute to its growth
significantly over the forecast period. This global
automotive audio speakers market
research report also
analyzes other important trends and market drivers that will affect
market growth over 2019-2023.

Global automotive audio speakers market:
Emergence of IoT-enabled smart speakers

Currently, automotive entertainment systems are evolving significantly
to include latest features and rapid processing pacer for delivering a
personalized experience in vehicles. As automobile infotainment systems
are differentiated in terms of their capabilities, manufacturers are
collaborating with technology providers for integrating advanced
features in more segments of their product portfolio. For instance,
Amazon is in collaboration with several car manufacturers to integrate
Alexa, its intuitive, artificial intelligence-based voice assistant,
into mainstream automotive infotainment systems. Thus, the emergence of
IoT-enabled smart speakers will not only provide advanced features but
also drive the growth of the overall global market.

“Along with the emergence of IoT-enabled smart speakers, the
increased R&D to deliver superior products is another major aspect that
is expected to drive the growth of the global market. During the
forecast period, cutting-edge in-car entertainment is expected to
feature in the next generation of electric vehicles, and this is seen
enhancing the overall driving experience considerably. Hence,
developments in next-generation audio systems are expected to drive the
market focus during the forecast period,”
says a senior analyst at
Technavio.

Global automotive audio speakers market:
Segmentation analysis

This market research report segments the global automotive audio
speakers market by application (passenger cars and commercial vehicles)
and geographical regions (APAC, Europe, North America, South America,
and MEA).

The APAC region led the market in 2018, followed by Europe, APAC, South
America, and MEA, respectively. During the forecast period, the APAC
region is expected to register the highest incremental growth due to the
growing consumer fad towards in-vehicle entertainment and information
systems in the region.

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Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

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