Futuresource Automotive Audio

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Automotive

Date Published: 24 May 2023

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.

The automotive industry remains fiercely competitive, with relatively new vendors such as Tesla, NIO and BYD predominantly launching within the EV space and creating even more competition.

This has been one of the industries most affected by the pandemic and war in Eastern Europe. From having one of the most robust global supply chain models, the automotive industry was beset with problems with lockdown-induced supply disruptions in 2020, which transformed into a semiconductor shortage from mid-2021 onwards.

However, Futuresource expects the global passenger vehicle market to regain its pre-pandemic level of sales by the end of 2024. This is being driven by pent-up demand in key markets such as China and the USA, and semiconductor supply chain resolution in early 2023. However, due to a lethargic global economy, Futuresource forecasts show that global passenger car sales will grow by no more than 3% per year over the next three years.

Car OEMs are seeking out unified systems in the automotive audio equipment market, combining a wide range of functionality to attract buyers. These systems must seamlessly manage a combination of entertainment, comfort, safety and information. And while audio systems are evolving, with higher watts and a greater number of speakers per system, the power usage must be kept in line with the need for high efficiency transportation. This quandary is leading to new levels of complexity within in-car audio systems, and making an impact upon supply ecosystems.

| 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