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The automotive audio amplifier market size is forecast to increase by USD 721.55 million, at a CAGR of 3.8% between 2023 and 2028. The growth of the market depends on several factors such as the growing demand for differentiated in-car experiences, the automotive audio amplifiers providing superior sound quality, and the high popularity of luxury vehicles. The report provides market size, historical data spanning from 2018 - 2022, and future projections, all presented in terms of value in USD million for each of the mentioned segments.
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Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The high popularity of luxury vehicles is the key factor driving market growth. The demand for luxury vehicles is steadily growing across the globe due to factors such as improving socio-economic conditions in emerging economies, consistent demand in developing automotive markets, and easier vehicle financing options. The premium audio system is one such feature that mostly comes as standard and takes the in-car entertainment experience to the next level. Hence, the growing demand for luxury cars is driving the growth of the market in focus.
Moreover, the automakers have been witnessing high demand for luxury vehicles, which is growing year over year. Additionally, prominent luxury vehicle manufacturers are witnessing steady growth in sales, although global automotive sales are witnessing a slowdown in current times. This acts as an important driver for the growth of the market during the forecast period.
The growing popularity of class D audio amplifiers is the primary trend shaping market growth. As the demand for additional features and subsystems is growing in automotive infotainment systems, automotive audio system manufacturers are looking for a high-performance and cost-effective solution, which is making class D audio amplifiers an ideal choice. Class D audio amplifiers are more efficient (efficiency of more than 90%) and produce less heat than class AB audio amplifiers.
Moreover, class-D amplifiers can be packed in compact sizes, which allows automotive audio system manufacturers to save considerable space for the audio amplifier fitment. The small package of class D audio amplifiers has a very high-power potential of 400W-500W. Additionally, the increased efficiency and reduced heat through class D audio amplifiers support the adoption of audio amplifiers in automotive audio systems, which is positive for the growth of the market during the forecast period.
Inconsistent quality of aftermarket automotive audio amplifiers is a challenge that affects market growth. The consistency of the sound quality of an automotive audio system is highly dependent on the audio amplifier used in the system. The market in focus has the availability of many low-cost, low-quality automotive audio amplifiers, particularly the ones manufactured by China-based market players. Customers are unaware of the durability and consistency of sound quality provided by these audio amplifiers, which results in dissatisfaction with the purchase of automotive audio amplifiers, which hinders the growth of the market in focus.
Additionally, as emerging economies are expected to lead the adoption of automotive audio amplifiers during the forecast period, it is important for prominent market players to effectively convey the consistent sound quality benefit of their high-quality automotive audio amplifiers to customers. Therefore, the inconsistent quality of aftermarket automotive audio amplifiers will impede the growth of the market during the forecast period.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The passenger cars segment is estimated to witness significant growth during the forecast period. The passenger cars segment dominates the market due to the standardization of audio systems in passenger cars. In addition, the high-volume sale of passenger cars across the globe is driving the growth of the segment. The passenger cars segment witnessed high adoption of new technologies that enhance the comfort, convenience, and safety of vehicles.
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The passenger cars segment was the largest segment and was valued at USD 1,788.60 million in 2018. Furthermore, premium audio systems are a crucial driver for the market in focus, as the number of speakers in these audio systems is higher than in conventional audio systems. Audio amplifiers of premium audio systems create better sound quality and less audio distortion. Vehicle manufacturers tend to launch their innovations in the luxury cars segment, which eventually percolates to the mid-size and entry-level passenger cars segment. Thus, such factors will drive market growth through the passenger cars segment during the forecast period.
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APAC is estimated to contribute 48% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. In 2023, China, India, South Korea, and Japan were the prominent revenue contributors to the market in APAC. These countries are leading in terms of vehicle sales and production across the world. Thus, the demand for automotive audio amplifiers is high in APAC.
Furthermore, the market in emerging economies, such as India, will gain significant traction due to the rising demand for luxury cars and the growing adoption of premium audio systems in mid-sized passenger cars. Additionally, rear-seat passengers in APAC are interested in using digital services and entertainment through in-vehicle systems, which is encouraging automotive OEMs to offer rear-seat entertainment solutions as standard fitments in mid-size passenger vehicles. Hence, such factors are expected to drive market growth in this region during the forecast period.
The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
The market is undergoing a revolution driven by advancements in energy-efficient technologies. With the rise of in-vehicle infotainment systems and portable audio devices, demand for high-quality audio output amplifiers is surging. Interface integration has become a focal point for manufacturers, enabling seamless connectivity with smartphones, smart speakers, and headphones.
Class D architecture amplifiers are gaining traction due to their heat dissipation capabilities, contributing to extended battery life in vehicles. These amplifiers facilitate a range of functionalities, from live streaming of music and news to setting alarms and even ordering household supplies on-the-go. In the entertainment segment, automotive audio amplifiers play a crucial role, enhancing the experience of music concerts, digital equipment in motion production and films, and sports events. As a key component in the intersection of the automotive industry, entertainment industry, and consumer electronics industry, this market continues to expand rapidly, particularly in regions with a growing population and a flourishing economy like the global manufacturing hub.
Automotive Audio Amplifier Market Scope |
|
Report Coverage |
Details |
Page number |
179 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3.8% |
Market Growth 2024-2028 |
USD 721.55 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
3.0 |
Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
Performing market contribution |
APAC at 48% |
Key countries |
US, China, Japan, South Korea, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Analog Devices Inc., Cirrus Logic Inc., Diodes Inc., ESS Technology Inc., ICEpower as, Infineon Technologies AG, Integrated Silicon Solution Inc., Monolithic Power Systems Inc., Nuvoton Technology Corp., NXP Semiconductors NV, ON Semiconductor Corp., Qualcomm Inc., Renesas Electronics Corp., ROHM Co. Ltd., Samsung Electronics Co. Ltd., Silicon Laboratories Inc., Sony Group Corp., STMicroelectronics International NV, Texas Instruments Inc., and Toshiba Corp. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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