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According to a recent report published by Persistence Market Research titled “Car Electronics & Communication Accessories Market:
Car Electronics Market to Witness a Rise of US$ 100.75 Bn by the end of 2024
According to a recent report published by Persistence Market Research titled “Car
Electronics & Communication Accessories Market: Global Industry Analysis and Forecast
2016-2024”, the global car electronics and communication accessories market is anticipated
to reach a market valuation of US$ 100.75 Bn by the end of 2024, registering a CAGR of
5.7% over an eight-year forecast period (2016 – 2024). In the report, Persistence Market
Research analyzes the key factors and trends impacting overall market performance of the
global car electronics and communication accessories market.
Rising consumer inclination towards an entertaining driving experience, technically
advanced car electronic accessories and communication systems available today, and an
overall growth in the automotive industry are key factors likely to boost the growth of the
global car electronics and communication accessories market over the forecast period.
Increased consumer spending on car accessories and a rising demand for advanced car
accessories and communication systems is also fueling growth of the global car electronics
and communication accessories market.
Request to view table of content @ https://www.persistencemarketresearch.com/marketresearch/car-electronics-and-communication-accessories-market/toc
However, availability of counterfeit and inferior quality car electronics and communication
accessories along with the inherent design complexity attached to car electronics and
communication accessories are some factors expected to hinder sustained growth of the
global car electronics and communication accessories market in the next eight years. A huge
fragmentation of the global car electronics and communication accessories market is also
likely to adversely impact market growth over the forecast period.
The global car electronics and communication accessories market is likely to witness certain
key trends between 2016 and 2024. Some of the observed trends include – adoption of
online configuration tools for car accessories, growth of e-retailing in the automotive
aftermarket in emerging markets, consolidation of different market distribution channels,
and increasing number of joint ventures by car electronics and communication accessories
manufacturers.
The global car electronics and communication accessories market is segmented by Product
Type into LCDs, Mobile Chargers, Cigarette Lighters, Music System, and Communication;
by Vehicle Type into Passenger Cars and Pickup Trucks; by Distribution Channel into OEM
and Aftermarket; and by Region into North America, Latin America, Europe, Asia-Pacific,
and the Middle East & Africa. The LCD product type segment is expected to register a
comparatively high CAGR over the forecast period. This segment is estimated to be valued
at US$ 15.45 Bn in 2016 and is expected to reach US$ 23.96 Bn by 2024. In the vehicle type
category, the Passenger Cars segment is likely to emerge as the dominant segment, estimated
to be valued at US$ 60.14 Bn in 2016 and expected to reach US$ 93.39 Bn by 2024, with a
CAGR of 5.7% over the forecast period.
A sample of this report is available upon request @
https://www.persistencemarketresearch.com/samples/11893
Among regions, the Asia-Pacific market is estimated to be valued at US$ 21.61 Bn by 2016
end and is expected to register a CAGR of 5.6% over the forecast period. Europe is likely to
be the second largest market by value and is estimated to be valued at US$ 20.50 Bn by
2016 end with a CAGR of 5.9%.
The report profiles some of the leading companies operating in the global car electronics and
communication accessories market. Leading market players featured in the report are Sony
Corporation, Pioneer Corporation, Garmin Ltd., TomTom International, Alpine Electronics,
Inc., Delphi Automotive, Clarion Co. Ltd., Blaupunkt, JVC Kenwood Corporation, and
Lighterking Enterprise Co. Ltd. Market leaders are focusing on a vertical integration of their
supply chain and are entering into strategic collaborations with automotive manufacturers to
move up the value chain and cement their foothold in the global car electronics and
communication accessories market.
Browse Complete Report @
https://www.persistencemarketresearch.com/market-research/car-electronics-andcommunication-accessories-market.asp
Author
ashutosh
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