Car Audio Market Size By Sales Channel (OEM, Aftermarket), By Component (Speaker, Amplifier, DSP, Microphone, Tuner), By Sound Management (Voice Recognized, Manual), By Vehicle (Passenger Cars, Commercial Vehicle), By Make, Forecast 2023 - 2032
Car Audio Market is projected to grow considerably through 2032 owing to the increasing trend of equipping voice-assistance-enabled audio systems in automobiles. Voice assistants offer remote and hands-free control facilities, enhancing the overall in-vehicle experience.
Besides, the rising integration of mobile apps with these sound systems will further drive the sales of automotive speakers. These devices are equipped with Bluetooth and Wi-Fi technologies, which is further anticipated to increase the flexibility of these devices that must be operated using smartphones.
Overall, the car audio industry is segmented in terms of sales channel, component, sound management, make, vehicle, and region.
Based on the sales channel, the aftermarket sales channel segment is expected to register noticeable growth through 2032. Ease of installation services and customer support offered by retailers and distributors will contribute to the market expansion. Besides, aftermarket enables customers to browse several modes of automotive audio speakers and sound systems to choose the best fit for their car model.
By component, the amplifier segment was valued at over USD 2 billion in 2022. Car audio amplifiers are in high demand across portable audio devices, which will positively influence the segmental growth in the future. Besides, the high-quality audio output of amplifiers will also drive the demand for in-car infotainment systems in the coming years.
Considering the make, the non-branded audio system segment will hold a significant market share. Increasing sales of economy passenger cars, especially in the developing economies such as Brazil, India, and China, will influence segment growth. Besides, the segment is gaining huge popularity among aftermarket suppliers as it is less expensive to refurbish an existing car audio system with non-branded solutions.
In terms of vehicle, the commercial vehicles segment will gain strong momentum during 2032 owing to the increasing sales of modern commercial vehicles in Asia Pacific and Latin America. In developed nations such as the US and Europe, commercial cargo trucks are outfitted with ADAS and assisted by auditory devices that warn drivers of potential road hazards. Moreover, the rising demand for onboard entertainment in public transit buses is driving the demand for automotive speakers in commercial vehicles.
Regionally, the North America car audio market was valued at over USD 2 billion in 2032. Increasing government initiatives and investments in artificial intelligence (AI) for a better driving experience with advanced voice-controlled assistants will drive the regional market growth.
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