Selbyville, Delaware, United States, September 11 2020 (Wiredrelease) Global Market Insights, Inc –:The automotive speaker market is expected to record exponential growth given to mounting demand for multi-driver speakers in the automotive sector. Automakers are gradually shifting towards multi-driver speakers as they provide enhanced sound quality compared to single driver speaker systems. Rising trends of overhauling the performance of vehicle sound systems could enhance the business prospects of automotive speaker manufacturers.
However, the industry is presently experiencing slow growth because of the ongoing COVID-19 crisis, which has also managed to dampen the growth of the global economy. Numerous governments are compelled to enforce nationwide lockdowns to restrict heavy consumer movement and virus spread.
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This has resulted in temporary shutdown of distribution and manufacturing facilities of prominent automobile companies, which has hugely affected the production and sales of vehicles. Reports suggest that as of March 2020, the automotive industry could expect a loss of $2 billion in revenue and 7.5 lakh units in production. But economists believe that the market could observe a steady growth after the impact of this epidemic minimizes.
Increasing consumer expenditure on state-of-the-art in-vehicle entertainment systems could drive the demand for automotive speakers across the Asia Pacific. Consumers nowadays are willing to spend more on advanced audio & infotainment solutions owing to its improved entertainment and safety features.
Meanwhile, evolving perspective towards aftermarket vehicle audio systems could improve the regional automotive speaker industry outlook over the predicted timeframe.
Companies operating in the automotive speaker market are concentrating on developing strategic relationships with automobile manufacturers and technology providers to gain a significant competitive edge over competitors.
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Some Point from Table of Contents:
Chapter 5. Automotive Speaker Market, By Type (Revenue & Shipment)
5.1. Key trends by type
5.2. 2-way speakers
5.2.1. Market estimates and forecast, 2016 – 2026
5.3. 3-way speakers
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5.3.1. Market estimates and forecast, 2016 – 2026
5.4. 4-way speakers
5.4.1. Market estimates and forecast, 2016 – 2026
Chapter 6. Automotive Speaker Market, By Vehicle Type (Revenue & Shipment)
6.1. Key trends by vehicle type
6.2. Passenger car
6.2.1. Market estimates and forecasts, 2016 – 2026
6.2.2. Market estimates and forecasts, by type, 2016 – 2026
6.2.3. 2-way speakers
220.127.116.11. Market estimates and forecast, 2016 – 2026
6.2.4. 3-way speakers
18.104.22.168. Market estimates and forecast, 2016 – 2026
6.2.5. 4-way speakers
22.214.171.124. Market estimates and forecast, 2016 – 2026
6.3. Commercial vehicle
6.3.1. Market estimates and forecasts, 2016 – 2026
6.3.2. Market estimates and forecasts, by type, 2016 – 2026
6.3.3. 2-way speakers
126.96.36.199. Market estimates and forecast, 2016 – 2026
6.3.4. 3-way speakers
188.8.131.52. Market estimates and forecast, 2016 – 2026
6.3.5. 4-way speakers
184.108.40.206. Market estimates and forecast, 2016 – 2026
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