Futuresource Automotive Audio

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Automotive

Date Published: 26 Jul 2024

Cars are becoming increasingly intelligent and connected, opening up a wide range of new use cases and business models. This trend is creating a raft of opportunities for OEMs, audio equipment vendors and third-party service providers, allowing them to develop and build new revenue streams.

As a result, Futuresource Consulting has produced this automotive audio market report to provide an in-depth analysis and review of the key trends shaping the sector. The report explores the future of mobility and its impact on automotive audio, as well as sizing the OEM and aftermarket opportunities. It also quantifies the market for vehicle sales and connected cars, and the rise of in-car streaming services, acting as a strategic framework for any enterprise that has interests in the automotive audio market.

Despite posting a recovery post-pandemic, the passenger car market now faces a new challenge from inflation and rising living costs that have eaten into consumers’ spending capacity throughout 2022 and 2023. Nevertheless, both Europe and North America posted volume growth in 2023, with easing supply challenges helping volume uptake.

The passenger car market is now expected to exceed its pre-covid market size by the end of 2024. The APAC region is anticipated to provide a strong impetus for growth with India and China both showing a high capacity to soak up demand with first-time purchases. Electric Vehicles (EVs) will also provide a sizeable amount of replacement demand for developed automotive markets, allowing for continued growth in EMEA and Americas. However, the increased price of EVs, coupled with range anxiety and lagging charging infrastructure development also mean that overall uptake could be lower than initially anticipated.

| Comprehensive PDF report

| Executive summary

| Automotive industry market status

| Key automotive and connected car trends

| Key trends in automotive audio

| Automotive premium audio system market

| Automotive audio speakers market

| Automotive audio amplifier market

| The future of mobility and its impact on automotive audio

| Audio hardware market sizing developments

| OEM market sizing

| Aftermarket market sizing

| The rise of streaming services in-car

| Appendix

| Market sizing, quantifying the market size of vehicle sales, connected cars, audio hardware and streaming services

| Market trends, analysing key developments impacting the automotive and audio industries

| Key trends in car audio, analysing features including voice assistants, noise-cancellation, surround sound and lightweighting

| Futuresource primary research, based on interviews with a wide range of providers from car OEMs, tier 1 enterprises, middleware providers, hardware providers and software providers

Futuresource has been tracking, researching and consulting on the CE and audio landscape for more than 30 years. This publication is one in a series of research reports, produced to provide businesses with a fully rounded view of the market landscape.

Any business with interests in automotive entertainment and connected car technologies will benefit from this report, particularly:

| Automotive and audio equipment manufacturers, OEMs and their suppliers

| Service providers

| Intermediaries and supply chain

| Automotive and CE market strategists, marketing and sales professionals

| Investors and venture capitalists

Futuresource Automotive Audio

Contents

Forecast Adoption

Audio System & Head-Unit Retail Value

In-Car Audio Consumption