According to a new market report published by Lucintel, the future of the global marine audio market looks good with opportunities in the inboard, outboard, and sterndrive market. The global marine audio market is expected to reach an estimated $2,195.4 million by 2023 and it is forecast to grow at a CAGR of 2.5% from 2018 to 2023. The major drivers for this market are the growth in recreational boats production and increasing customer demand for better quality sound systems.
Browse 65 market data tables and 118 figures spread through 151 pages and in-depth TOC on “Global Marine Audio Market"
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In this market, speaker, subwoofer, stereo receiver, and amplifier are used for marine audio manufacturing for product type. Lucintel forecasts that the speakers will remain the largest segment and subwoofer will experience the highest growth over the forecast period due to increasing customer demand for better quality multimedia entertainment products.
Within this market, marine audio system for inboard will remain the largest boat type and it is expected to show highest growth over the forecast period due to rising demand of cruise in the emerging markets.
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Europe is expected to remain the largest region due to higher production of recreational boat. Asia Pacific is expected to witness highest growth over the forecast period due to increasing boat production and growth in tourism & water sports activities.
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Emerging trends, which have a direct impact on the dynamics of the marine audio market, include development of multi-zone marine stereo receivers and the introduction of Wi-Fi stereos. SONY, Harman, Clarion, JVC, Pioneer, Fusion, Rockford, JL Audio, Wet Sounds, and MTX Audio and others are among the major suppliers of marine audio.
Lucintel, a leading global market research firm has analyzed growth opportunities in the global marine audio market by component, boat type, and region has compiled a comprehensive research report entitled “Growth Opportunities in the Global Marine Audio Market 2018-2023: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy by providing comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global marine audio market by component, boat type, and region as follows:
By Component ($ Million and Thousand Units from 2012 to 2023):
- Speaker
- Subwoofer
- Stereo Receiver
- Amplifier
By Boat Type ($ Million in 2017):
- Inboard
- Outboard
- Sterndrive
- Others
By Region ($ Million and Thousand Units from 2012 to 2023):
- North America
– United States
– Canada
– Mexico
- Europe
– Germany
– Italy
– United Kingdom
– France
- Asia Pacific
– Australia
– China
– Taiwan
– New Zealand
- The Rest of the World
– Brazil
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This 151-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/marine-audio-market.aspx#/ or helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
This report answers following 11 key questions:
Q.1 What are some of the most promising, high-growth opportunities for the global marine audio market to 2023 by product type (speaker, subwoofer, stereo receiver, and amplifier), by boat type (inboard, outboard, sterndrive, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q. 2 Which segments will grow at a faster pace and why?
Q.3 Which regions will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
Q.5 What are the business risks and threats to the market?
Q.6 What are the emerging trends in this market and reasons behind them?
Q.7 What are some changing demands of customers in the market?
Q.8 What are the new developments in the market? Which companies are leading these developments?
Q.9 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via product substitution?
Q.11 What M&A activity has occurred in the last 5 years?
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