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

LONDON--(BUSINESS WIRE)--Oct 14, 2019--

The global automotive audio speakers market is expected to post a CAGR of more than 5% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report

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Technavio has announced its latest market research report titled global automotive audio speakers market 2019-2023. (Graphic: Business Wire)

Automobile manufacturers have started to introduce premium features in entry-segment vehicles that were earlier limited to only luxury and mid-segment vehicles. For instance, automakers are introducing audio-visual navigation-based infotainment systems in entry-segment vehicles to cater to the growing requirements of enthusiastic buyers. The rising number of new vehicle launches and increasing consumer awareness are influencing the penetration of advanced automotive technologies in lower segment vehicles. These factors have increased the adoption of automotive infotainment systems in modern vehicles. The rising demand for differentiated in-car experiences will positively influence the growth of the global automotive audio speakers market during the forecast period.

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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 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

With the growing demand for differentiated in-car experiences, vendors are collaborating with technology providers to integrate advanced features in their product portfolio. Prominent vehicle manufacturers are integrating virtual assistants such as Alexa and Google Assistant with infotainment systems to provide the driver with smart assistance and voice control for hands-free interaction. The integration of such technologies also enables driver to answer calls and texts, control media, and search information through voice commands delivered using smart speakers. The emergence of IoT-enabled smart speakers is one of the key trends that is expected to boost market growth during the forecast period.

“Apart from the emergence of IoT-enabled smart speakers, the development of speaker-less audio systems and regulations pertaining to electric cars are some other major factors that will boost market growth during the forecast period,” says a senior analyst at Technavio.

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Global Automotive Audio Speakers Market: Segmentation Analysis

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

The APAC region led the market in 2018, followed by Europe, North America, South America, and MEA respectively. During the forecast period, the APAC region is expected to maintain its dominance over the global market. This is due to growing consumer awareness about in-vehicle entertainment and information systems and the rapid economic growth of China, Indonesia, and India, which has led to a strong demand for mid-segment and luxury vehicles in these countries.

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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

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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CONTACT: Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

Email:[email protected]




SOURCE: Technavio Research

Copyright Business Wire 2019.

PUB: 10/14/2019 10:15 AM/DISC: 10/14/2019 10:15 AM

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