Car Electronics and Communication Accessories Market

Global Car Electronics and Communication Accessories Market: Passenger
Cars to Remain Dominant During the Forecast Period
Car electronics and communication systems fall under car accessories used for enhancing the
driving experience in terms of connectivity and entertainment. Consolidation of several market
distribution channels, increasing joint ventures between manufacturers of communication
accessories and car electronics, expansion of e-retailing in automotive aftermarket among emerging
markets and online configuration tools adoption for car accessories are some of the trends observed
in the global car electronics and communication accessories market. This market is estimated to
witness 5.7% CAGR in terms of value and 3.6% CAGR in terms of volume over the forecast
period, 2016 to 2024, according to the report by Persistence Market Research (PMR).
Key market players operating in the global car electronics and communication accessories market
include Sony Corporation, Garmin Ltd., Alpine Electronics Inc., JVC Kenwood Corporation,
Pioneer Corporation, TomTom International, Delphi Automotive, Blaupunkt, Clarion Co. Ltd. and
Lighterking Enterprise Co. Ltd.
LCDS and Mobile Chargers to Remain Lucrative During 2016 to 2024
Based on product type, the market is categorized into mobile chargers, music systems, LCDs and
cigarette lighters. LCDs and mobile chargers product type segments are estimated to witness 5.6%
CAGR and 5.1% CAGR respectively during the forecast period, 2016 to 2024, as per PMR’s report.
Passenger Cars to Hold Dominance over the Global Car Electronics and Communication
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Accessories Market
Based on vehicle type, the market is bifurcated into pickup trucks and passenger cars. Passenger
cars segment held 93% share of market value in 2016 and it is estimated to remain dominant in the
global market for car electronics and communication accessories during the forecast period.
OEM Estimated to Reflect Higher CAGR than Aftermarket During 2016 to 2024
Based on distribution channel, the market is bifurcated into aftermarket and OEM. Aftermarket is
expected to remain a dominant distribution channel segment in the global market for car electronics
and communication accessories during the forecast period. Whereas, in terms of volume and value,
OEM is estimated to register a higher CAGR than aftermarket during the forecast period.
Availability of technically advanced communication systems and car electronics accessories,
increasing consumer attraction of an entertaining driving experience, overall automotive industry
growth, increasing consumer investments in car accessories and demand growth of car accessories
and communication systems are factors fuelling the growth of global market for car electronics and
communication accessories. Inherent design complexity, significant fragmentation and, inferior
quality and counterfeit car electronics and communication accessories are factors hindering the
growth of global market for car electronics and communication accessories during the forecast
period.
Europe to Remain Dominant in the Global Car Electronics and Communication Accessories
Market During 2016 to 2024
Region-wise, the market is categorized into North America, Europe, Middle East & Africa (MEA),
Latin America and Asia Pacific (APAC). In terms of volume, Asia Pacific held comparatively
higher volume share of the overall market in 2016. Europe is estimated to remain dominant in the
global market for car electronics and communication accessories in terms of market value during
the forecast period.