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Global Smart Audio Market: Introduction

  • Smart audio systems used in automobiles are network and Bluetooth connected in order to stream music, while a few even have built-in screens. The automotive audio system has witnessed a revolution in the last decade, evolving from the simple AM/FM radio system to smart & intelligent audio system that supports live streaming.

Key Drivers and Restraints of Global Smart Audio Market

  • Rise in consumer demand for connected vehicle solutions and digital solutions has boosted the demand for the smart audio system. Increased usage of smartphones and consumer demand for connecting smartphones to vehicle for entertainment and infotainment support has fueled the demand for the smart audio systems worldwide.
  • Rise in sales of luxury and premium vehicles is anticipated to propel the automotive smart audio system market. Developing countries in Asia Pacific and Latin America are witnessing an increase in sales of luxury vehicles owing to a rise in consumer purchase parity, which is projected to further drive the global automotive smart audio system market.

Advent of connected vehicles and autonomous vehicles is anticipated to boost the adoption of automotive smart audio systems

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Rise in demand of Digital Display Audio

  • Digital Display Audio is gaining popularity among automakers to design and achieve a digital cockpit and improve the cabin experience. Advancement in technology and further decrease in price of the digital display audio are anticipated to boost its penetration in the automotive smart audio system market. Rise in sales of connected cars and demand for in-built entertainment systems is expected to propel the adoption of the digital smart audio system.

Integrated segment to expand significantly

In terms of connectivity type, integrated connectivity acts as an extended support to smartphone screens. Integrated is a robust type of connectivity and is imperative from the perspective of adoption of autonomous vehicles. Integrated type enable wireless connectivity of the smartphone with the vehicle audio system. Smart audio systems are thus expected to be supported by the integrated connectivity type owing to their high preference from automakers

Passenger vehicle segment to hold leading share of smart audio system market

  • Based on vehicle type, the passenger vehicle segment held a leading share of the global smart audio market. Higher penetration of vehicle connectivity in passenger vehicles and higher consumer spending on personal vehicle is attributed to the dominance of the passenger vehicle segment in the global automotive smart audio system market

OEM segment to hold leading share of smart audio system market

  • The OEM segment is anticipated to hold a leading share of the global automotive smart audio system market with majority of the smart audio system being offered as standard OE fitment by automakers. The aftermarket segment is estimated to expand owing to an increase in number of aftermarket solutions being offered. Availability of aftermarket smart audio systems and increase in consumer acceptance in retrofit smart audio systems are expected to boost the aftermarket segment.

North America and Europe lead global smart audio market

  • North America and Europe has highest penetration of connected vehicles globally and also have high demand for advanced & intelligent systems such as smart audio system. North America & Europe together thus holds the dominating share of the automotive smart audio system market.
  • The market in Asia Pacific is estimated to expand at a significant growth rate during the forecast period owing to increased sale of premium vehicles in China and India

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Key Manufacturers Operating in Global Market

The global smart audio market is dominated by a few major players. Key manufacturers operating in the global market are:

  • Texas Instruments
  • HARMAN International
  • Alpine Electronics, Inc.
  • Pioneer Corporation
  • Sony Corporation
  • Bose Corporation
  • JVC Kenwood Corporation

Global Smart Audio Market, by Component

  • Speaker
  • Amplifier
  • Head Unit
  • Others

Global Smart Audio Market, by Technology

  • Digital Display Audio
  • Audio

Global Smart Audio Market, by Connectivity

  • Embedded
  • Tethered
  • Integrated

Global Smart Audio Market, by Vehicle Type

  • Passenger Vehicle
  • Light Commercial Vehicle
  • Heavy Commercial Vehicle

Global Smart Audio Market, by Sales Channel

  • OEM
  • Aftermarket    

Global Smart Audio Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Smart Audio System Market

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