According to the latest research report titled ‘Europe Automotive Speaker Market Forecast 2027 By Sales Channel, By Type, By Vehicle Type, Research Analysis Report, COVID-19 Impact Statistics, Country Outlook, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share’, available with MarketStudyReport, Europe automotive speaker market is slated to progress at a robust growth rate and exceed a valuation of USD 1.5 billion by 2027.

Growing emphasis on safety of passengers in vehicles, integration of IoT enabled proximity sensors as well as improved connectivity features along with smart automotive audio and infotainment systems are boosting Europe automotive speaker market development.

Request sample copy of this report: https://www.marketstudyreport.com/request-a-sample/4791355/   

In addition, incorporation of ADAS (advanced driver assistance system), and escalating inclination towards luxury autonomous cars compelling market expansion in the forthcoming years. Increased consumer focus on redesigning vehicle interiors as well as several advantages of Bluetooth technology that enable users to connect their smartphones with automobile speakers and stream music on their will are also augmenting the industry outlook.

Speaking of sales channel, aftermarket sales segment is likely to gain substantial traction over the forecast period, owing to the availability of a wide range of speakers and their components at various automotive sales enterprises. These enterprises supply a variety of individual components such as sound processors and amplifiers that perform the task of improving the quality of factory installed speakers at a nominal price.

Considering vehicle type, the passenger vehicle segment of Europe automotive speaker industry is slated to generate significant revenues over 2020-2027. This development is mainly attributed to higher disposable income levels and economic reconstruction post the Covid-19 pandemic. As per an evidential report submitted by European Automobile Manufacturers Association (ACEA), new vehicle registration increased by 8%, accounting for 11 million units in the first 3 quarters of 2021.  

Considering the type of speakers, the industry is categorized into 4-way speaker, 3-way speaker (coaxial, component), and 2-way speaker (coaxial, component).

From a regional frame of reference, Germany, United Kingdom, France, Russia, and Italy are the major countries that are a home to the maximum number of industry players and a vast consumer base that contribute a majority of revenue share to Europe automotive speaker market.

The competitive terrain of this industry landscape is influenced by companies such as Sony Corporation, Pioneer Corporation, Panasonic Corporation, Naim Audio, Meridian Automotive Systems Inc., KICKER Audio (Stillwater Designs Inc.), JVCKenwood Corporation, JL Audio Inc., Harman International Industries Inc., Focal-JMLab , Electromedia S.R.L., Dynaudio A/S, Continental AG, Clarion Co. Ltd., Burmester Audiosysteme GmbH, Bowers & Wilkins, Bose Corporation, Blaupunkt GmbH, and Alpine Electronics Inc.