According to the research report titled ‘North America Automotive Speaker Market Forecast 2027 By Vehicle Type, By Type, By Sales Channel, Research Report, COVID-19 Impact Statistics, Country Outlook, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share’, available with MarketStudyReport, North America automotive speaker market is anticipated to surpass USD 1.5 billion valuation by 2027.

Rising consumer disposable income, and increasing use of autonomous and premium automobiles are the major growth determinants for North America automotive speaker market.

Request sample copy of this report: https://www.marketstudyreport.com/request-a-sample/4791354/

According to the International Organization of Motor Vehicle Manufacturers (OICA), approximately 11.5 million new automobiles were registered in North America between January and June 2021.

Moreover, growing popularity of vehicles with various safety solutions like advanced driver assistance systems (ADAS), as well as rapid adoption of linked car gadgets and vehicle-to-vehicle communication systems in automobiles are anticipated to swell the industry size.

The advent of the COVID-19 virus resulted in a major drop in car production and sales, due to government's strict lockdown restrictions on industrial and corporate operations, as well as commercial activity, which hampered the market expansion in 2020.

However, increasing government initiatives to accelerate COVID-19 immunization programs and enhance economic activities are expected to bolster North America automotive speaker marketplace in the coming years.

In terms of vehicle type, the industry is split into commercial vehicle (4-way speaker, 3-way speaker, and 2-way speaker) and passenger car (4-way speaker, 3-way speaker, and 2-way speaker). On the basis of sales channel, the marketplace is bifurcated into aftermarket and OEM.

Based on type terrain, the market is divided into 3-way speaker (coaxial, component), 2-way speaker (component, coaxial), and 4-way speaker. Among these, 3-way speaker segment is gaining traction at present, due to the growing demand for premium and luxury autonomous vehicles. These speakers produce clear sound and high volume. Whereas 2-way speaker segment is becoming popular, because of their low cost and easy installation capabilities.

Faurecia Clarion Electronics Co. Ltd., Burmester Audiosysteme GmbH, Bowers & Wilkins (B&W), Bose Corporation, Blaupunkt GmbH, and Alpine Electronics Inc. are the leading players in North America automotive speaker marketplace.