Automotive Speaker Market – Trends Forecast Till 2030

Market Snapshot

Market Overview

The automotive speaker market size was estimated at USD 9,540.0 million in 2023 and is projected to reach USD 15,219.2 million in 2030 at a CAGR of 6.90 % during the forecast period 2024-2030.

The automotive speaker market is driven by the increasing demand for advanced in-car entertainment systems and a growing preference for high-quality audio experiences in vehicles. As consumers increasingly seek premium audio quality while driving, automakers are focusing on enhancing the in-car sound experience. Additionally, advancements in speaker technology, such as the integration of smart and connected features, have made automotive speakers more efficient, offering improved sound quality and customization options. The market has witnessed a shift toward premium and customized audio solutions in mid-to-high-end vehicles, with collaborations between automakers and leading audio brands becoming more prevalent.

The automotive speaker market is expanding in response to changing consumer preferences for better in-car acoustics and integrated infotainment systems. The market includes various types of speakers such as coaxial, component, subwoofers, and full-range speakers, each offering unique features for specific automotive audio systems. These speakers are designed to meet the demands for clear, high-definition sound quality, while also being durable enough to withstand the environmental challenges of a vehicle's interior. The scope of the market covers both the OEM (Original Equipment Manufacturer) and aftermarket segments, catering to both new car models and the retrofitting of existing vehicles.

Several trends are shaping the automotive speaker market, including the growing adoption of wireless and Bluetooth connectivity in car audio systems. The integration of smart speakers, voice recognition, and AI-driven audio systems in modern vehicles is expected to further propel the market. Additionally, the shift toward electric vehicles (EVs) has led to a reconfiguration of the in-car audio experience, with manufacturers focusing on creating sound systems that complement the quieter interiors of EVs. Another trend is the growing popularity of premium sound systems offered by high-end automotive brands, which continues to drive the demand for high-performance speakers.

Key drivers for the market's growth include the increasing adoption of advanced infotainment and connectivity solutions in vehicles, which demand high-quality audio systems. The rising disposable income, particularly in emerging markets, has also fueled demand for luxury and feature-rich vehicles, further driving the need for sophisticated speaker systems. Moreover, the integration of advanced materials, such as lightweight composites, and the adoption of advanced manufacturing technologies have contributed to improved sound quality and reduced speaker weight, thereby enhancing the overall driving experience. As consumer preferences evolve, automakers are increasingly focused on offering cutting-edge audio technologies to meet the growing demand for superior in-car entertainment.

Delvens Industry Expert's Standpoint

Experts in the Automotive Speaker Market highlight several key trends driving growth and innovation. The automotive speaker market is experiencing significant growth driven by the increasing consumer demand for high-quality in-car entertainment and advanced audio systems. As automakers focus on enhancing the in-car sound experience, the market is expanding with innovations like wireless connectivity, smart speakers, and AI-driven audio solutions. The rise of electric vehicles and premium sound systems is further influencing market trends, with a focus on clear sound and durability. Key drivers include advancements in infotainment technology, rising disposable incomes, and the adoption of new materials and manufacturing technologies to improve sound quality. The market continues to evolve as automakers aim to deliver superior audio experiences in response to consumer preferences.

Market Portfolio

Key Findings

• The passenger vehicle segment is expected to hold the largest share of the automotive speaker market during the forecast period. This is largely driven by the significant production of passenger vehicles, alongside shifting consumer demands for high-quality in-car audio systems. Automotive speakers are now found in a broad range of passenger vehicles, from affordable compact cars to high-end luxury models, catering to diverse consumer preferences. As per the International Organization of Motor Vehicle Manufacturers, passenger vehicle production reached 65 million units in 2023, responding to the growing need for personal vehicles worldwide. With improving economic conditions and increased consumer purchasing power, there is a surge in demand for feature-rich, premium-quality sound systems. Automakers are increasingly integrating advanced audio technologies as key differentiators, with luxury audio brands such as Burmester and Meridian Audio forming partnerships with high-end car manufacturers. This trend is expanding into mid-range models as well, contributing to the growth of the automotive speaker market.

• The component speakers segment is projected to exhibit the highest CAGR in the automotive speaker market during the forecast period. This growth is primarily driven by the rising consumer demand for customizable and high-quality in-car audio systems. Component speakers, consisting of separate woofers, tweeters, and midrange speakers, offer superior sound distribution and clarity, making them highly attractive to audiophiles and tech-savvy consumers. These systems are highly customizable and durable, characteristics that are increasingly preferred in the market. Major players, including Alps Alpine, Sound United, and JBL (a Samsung brand), are advancing this segment with vehicle-specific component speaker systems like the DP-45C-B series for BMW and JBL’s Stadium GTO series. As manufacturers focus on differentiating their products through high-end audio systems, the demand for component speakers in both luxury and mainstream vehicles is growing, driven by rising disposable incomes and a preference for audio customizability and durability.

• The market is also divided into various regions such as North America, Europe, Asia-Pacific, South America, and Middle East and Africa. Asia-Pacific region is projected to hold the largest market share. Factors such as Increasing demand for high-quality in-car audio systems, growing adoption of advanced infotainment systems, rising consumer preference for premium audio experience, technological advancements in audio systems, integration of smart features in audio systems, expansion of electric vehicles, growing popularity of connected vehicles, increased focus on vehicle customization, rise in demand for premium vehicles, and partnerships between automakers and audio technology companies have triggered the Automotive Speaker Market in the region.

Regional Analysis

Asia-Pacific to Dominate the Market

Asia Pacific is expected to lead the automotive speaker market throughout the forecast period, driven by robust growth in vehicle production and the ongoing shift toward electric vehicles (EVs) in the region. The demand for premium audio systems is rising, particularly among key players like Tesla and BYD, with emerging markets such as Malaysia showing significant interest. The growth of EV-charging infrastructure is facilitating the transition to electric vehicles, enabling advanced in-car entertainment systems to align with this trend. As disposable incomes rise across the region, consumers are increasingly willing to invest in enhanced in-car experiences, fueling the demand for high-quality speaker systems. Innovative audio technologies, such as noise cancellation and immersive sound configurations, are becoming increasingly popular among consumers. With Asia Pacific's expanding automotive industry and growing consumer demand for premium audio, the market for automotive speakers is poised to grow across both developed and emerging countries, including India, China, Japan, and Malaysia. Additionally, the growth of the electric vehicle sector is anticipated to further boost the demand for high-end automotive speakers in the region during the forecast period.

Competitive Landscape

• Panasonic Holdings Corporation
• Bose Corporation
• Samsung Electronics Co., Ltd.
• Alps Alpine Co., Ltd.
• Pioneer Corporation
• Sony Group Corporation
• Masimo Corporation
• Clarion
• Focal
• Elettromedia S.p.A.
• JVCKenwood Corporation
• Stillwater Designs
• Rockford Corp.
• Blaupunkt
• Burmester
• Dynaudio A/S
• JL Audio
• Meridian Audio
• Cerwin Vega
• Hybrid Audio Technologies
• McIntosh Laboratory, Inc.
• Morel
• Winn Scandinavia
• Eton Audio
• MTX International

Recent Developments

• In May 2024, Focal unveiled the ISUB BMW 8, a Plug & Play subwoofer engineered for BMW and MINI vehicles. This 8-ohm subwoofer delivers powerful, precise bass, enhancing the in-car audio experience with easy installation and superior performance.

• In November 2023, Panasonic Automotive Systems Company of America, in partnership with Fisker Inc., launched the Fisker Pulse audio system powered by ELS STUDIO 3D. Featuring 15 high-performance speakers, the system offers studio-quality sound, perfectly complementing the sustainability and performance focus of the all-electric Fisker Ocean SUV.

• In September 2023, Focal released four new audio kits designed for Tesla Model 3 and Model Y, providing an easy-to-install, high-quality hi-fi sound system. Made in France, the kits include a 2-way component kit, coaxial kit, central speaker, and woofers, all engineered for exceptional acoustic performance without altering the vehicle’s cabin.

• In September 2023, Rockford Fosgate introduced the Stage-1 overhead audio system for Can-Am Defender models. This system includes two 5.25-inch coaxial speakers and a Bluetooth-enabled source unit, featuring a three-piece design that integrates seamlessly with the factory roof and windshield for an enhanced audio experience

Reasons to Acquire

• Increase your understanding of the market for identifying the most suitable strategies and decisions based on sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends, and factors.
• Gain authentic and granular data access for the Automotive Speaker Market to understand the trends and the factors involved in changing market situations.
• Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future.
• In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns.

Report Scope