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.
In this market, speakers, subwoofers, stereo
receivers, and amplifiers are the major components of the marine audio system. On
the basis of its comprehensive research, 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.
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.
Emerging trends, which have a direct impact on
the dynamics of the 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 are the major
marine audio supplier in the global marine audio market.
Lucintel, a leading
global strategic consulting and market research firm, has analyzed growth
opportunities in the global marine audio market by component, by boat type, and
region. Lucintel 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, as it provides comprehensive data and analysis on trends,
key drivers, and directions. The study includes a forecast for the global marine
audio market 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
o
US
o
Canada
o
Mexico
- Europe
o
Italy
o
United Kingdom
o
France
o
Germany
- Asia Pacific
o
Australia
o
China
o
Taiwan
o
New Zealand
- The Rest of the World
o
Brazil
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 email us at helpdesk@lucintel.com.
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Transportation, Transportation
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About Lucintel
Lucintel,
the premier global management consulting and market research firm, creates
winning strategies for growth. We offer 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 the following 11 key questions:
Q.1. What are some of the most promising, high growth
opportunities for the marine audio market 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
region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the
key challenges and business risks in this market?
Q.5. What are the business risks and competitive
threats in this market?
Q.6. What are the emerging trends in this market
and the reasons behind them?
Q.7. What are some of the 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 key players pursuing for business growth?
Q.10. What are some of the competing services in this market and how big
of a threat do they pose for loss of market share by service substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has
its impact been on the industry?
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