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Car audio market is expected to grow from US$ US$ 4.64 Bn in 2017 to US$ 6.43 Bn by 2025 at a CAGR of 4.2% between 2017 and 2025.
The branded car audio systems are anticipated to dominate the market owing to its increasing adaption by the manufacturers as well as the end-users. The inclination of the customers towards the branded car audio systems is majorly due to the quality and after sale services offered by these brands. Moreover, the increasing ability of the end-users to spend on the audio systems of the vehicles has also contributed towards the growth of the overall car audio market.
A key trend which will predominantly affect the car audio market in the coming year is the integration of wireless technology with the car audio systems.
Some of the key players of car audio market include Panasonic Corporation, Pioneer Corporation, Alpine Electronics, Inc., Kenwood Corporation, Harman International Industries, Inc., Clarion Co., Ltd., Sony Corporation, Delphi Automotive PLC, Bose Corporation, JL Audio Blaupunkt GmbH