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Car Audio Market Size

Report ID: GMI5335
Published Date: Dec 2024
Report Format: PDF

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Car Audio Market Size

The global car audio market size was valued at USD 13.7 billion in 2024 and is projected to grow at a CAGR of 6.4% between 2025 and 2034. The global shift to electric vehicles (EVs) is creating significant opportunities in the market. With reduced engine noise, EVs offer unique acoustic environments, enabling advanced audio experiences. Manufacturers are developing specialized audio technologies to replace traditional engine sounds.

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For instance, In January 2023, Panasonic Automotive Systems Company of America introduced a modular audio system specifically for electric vehicles (EVs). This design offers EV owners superior sound quality while reducing energy consumption and weight, enhancing overall efficiency and environmental friendliness. Techniques such as artificial engine sounds and immersive acoustics are becoming key differentiators. Additionally, the energy efficiency requirements of EVs are driving innovations in low-power, high-performance audio systems. This market shift promotes collaboration among automotive manufacturers, audio tech companies, and sound design experts.

Car Audio Market Report Attributes
Report Attribute	Details
Base Year:	2024
Car Audio Market Size in 2024:	USD 13.7 Billion
Forecast Period:	2025 - 2034
Forecast Period 2025 - 2034 CAGR:	6.4%
2034 Value Projection:	USD 25.2 Billion
Historical Data for:	2021 – 2023
No. of Pages:	180
Tables, Charts & Figures:	200
Segments covered:	Component, Sound Management, Vehicle, Sales Channel
Growth Drivers:	Rising consumer demand for premium audio experience Integrated connectivity of audio devices with vehicles Consumer demand for personalized audio experiences Advancements in sound technologies
Pitfalls & Challenges:	Increasing consumer price sensitivity Cybersecurity and data privacy concerns

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Consumer demand for high-quality audio is rising, driven by home and personal audio system advancements. Modern car buyers seek immersive, theater-like sound experiences comparable to their home setups. Audio quality is a critical factor in vehicle purchases, especially for millennials and Gen Z. Advanced sound technologies, such as spatial audio, high-resolution streaming, and personalized acoustic environments, are becoming essential differentiators. Automotive and aftermarket manufacturers invest heavily in these technologies, transforming vehicles into premium sound environments.

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of car audio surpassed USD 10 billion in 2022 and is anticipated to grow at 5% CAGR from 2023 to 2032 propelled by the increasing popularity of electric vehicles, along with growing demand for integrated sound systems with mobile apps.

The voice-recognized segment is poised to cross USD 10 billion revenue by 2032 due to the surging demand for the productive and remote features provided by advanced voice-controlled assistants.

The OEM sales channel is estimated to amass USD 12 billion in revenue by 2032 owing to the increasing number of partnerships between speaker manufacturers and automakers.

The APAC car audio industry is slated to witness 6% growth rate during 2023-2032 on account of the worsening traffic congestion and the increased amount of time spent in cars in the region.

Some of the major firms operating in the competitive landscape are Sony Corporation, Panasonic Corporation, Pioneer Corporation, Harman International Inc., Premium Sound Solutions, Bose Corporation, and JVC Kenwood Corporation.