Automotive Microphone Market Size, Share, Growth, And Industry Growth By Type (ECM Microphone, MEMS Microphone) By Application (Passenger car, Commercial vehicle) Regional Forecast (2022-2028)

REPORT OVERVIEW

• 
• Request a Free sample to learn more about this report

The global automotive microphone market size is anticipated to be USD 178.9 million in 2021. The global COVID-19 pandemic has been unprecedented and staggering, with the automotive microphone market experiencing lower -than-anticipated demand across all regions compared to pre-pandemic levels. As per our research, the market is projected to touch USD 436.5 million by 2028, exhibiting a CAGR of 13.6% during the forecast period. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.

The automotive microphone is a step forward in improving the audio system of the automotive sector. The MSME microphone is holding the largest share owing to its technological upgradation, lower power consumption and strong sensor. It helps in improving the navigation system and virtual assistant in the vehicles. 

The past decades have seen more vesicles hitting the road as they became the symbol of luxury and a necessity to maintain good transportation. As the technology touched every sector, it has revamped the automotive sector and promoted sustainable development with the inclusion of digital features and a world-class experience for the consumer.

COVID-19 Impact: Rising Demands in the Automotive Sector to Improve the Market Demand

The growth and the escalating demand of the automotive sector saw a slowdown process as the COVID-19 cases spiked across the globe. The sale of vehicles decreased at an unprecedented rate as the economy began to struggle with a global pandemic. As the century witnessed the worst healthcare crisis, frequent lockdowns were enforced to combat the deadly disease. The investments came to a sudden halt as the focus shifted to the development of vaccines. The shutting down of manufacturing units and lack of human resources affected the market share of the automotive microphone. However, as the normal conditions prevailed the market bounced back as the production regained its momentum and the demands escalated in the present market.

LATEST TRENDS

"Continuous Research and Developments to Propel the Market Demand"

The demand for the premium quality audio system is rising so as the efforts and investments towards the research and developments to launch new products and improve the efficiency of the existing system. The integration of tools like AI and IoT is delivering promising results in the improvement of the automotive audio system. As the commercialization of electric cars is increasing rapidly the incorporation of high-quality microphones will be in full swing.

SEGMENTATION

• 
• Request a Free sample to learn more about this report

• By Type

Based on type, the market is divided into less Than ECM microphones, and MEMS microphones.  The MEMS microphone sector is expected to lead this segment in the forecasted year.

•  By Application

Based on the application, the market is divided into passenger cars and commercial vehicles. The Passenger car sector is anticipated to lead this segment in the upcoming year.

DRIVING FACTORS

"Demand for High Tech Vehicle and Smart Assistant to Accelerate the Product Sale"

The automotive industry is going through massive transformations as innovations continue to upgrade the existing technologies and provide the best comfort to the consumer. The past decade has witnessed an upward trend in the automotive sector owing to various internal and external factors. The dynamic structure of the market along with the evolving consumer trends to adopt the latest technology has compelled the automotive industry to upgrade and launch new products. The rising demand for electric vehicles and the luxurious features in a vehicle is further triggering the growth of the automotive microphone market.

The rapid digitalization and the combined efforts to improve the navigation and voice control assistant is another major driver in the market. According to the latest survey, the amount of time spent driving or travelling in a car has increased and consumer favours a luxurious approach in their everyday lifestyle which is less time-consuming and advanced. The key players are striving to improve the audio system in the car based on the current consumer preferences.  Moreover, the integration of powerful tools like AI provides the consumer with a personalized experience simultaneously helping in noise cancellation and detection. Not only does it contribute to road safety but also acts as a catalyst for an advanced navigation system and a digital assistant.  Thus, the demand for high-tech car features and digitalization is boosting the automotive microphone market share.

"Population Expansion and Rise in Disposable Income to Boost the Automotive Microphone Market Demand"

Economic development played a crucial role in the popularity of luxurious vehicles and the growing demand for advanced technology. The escalating population resulted in the increased production of passenger vehicles. The latest vehicle production is implemented with advanced technological features to improve the in-cabin experience of the consumer. The rise in disposable income of the middle class and purchasing power driving the automotive microphone market size. Furthermore, the strive towards the growing use of wearable devices and smart interconnected virtual assistants is stimulating the automotive market demands.

RESTRAINING FACTORS

"The Fluctuating Price of the Product to Hamper the Market Growth"

The past few years has undergone many changes which have affected economical growth and changed the market dynamics. The uncertainty regarding the price of the product and the consistent fluctuation in the price is a major restraining factor for the automotive microphone market growth. The shortage of raw materials and issues in the supply chain has strained the increasing demands and triggered the existing problem. Furthermore, there are a few technical concerns such as noise cancellation and voice recognition that are yet to be developed affecting the potentiality of the product. The difficulty in packaging will restrain the growth of the automotive microphone market.

REGIONAL INSIGHTS

• 
• Request a Free sample to learn more about this report

"North America dominates the Market due to the Presence of the Key players "

North America's strong economy and the presence of key player functioning in the market is playing a crucial role in leading the automotive microphone market. The growth of sustainable living and an eco-friendly mindset has compelled the governments to impose stringent regulations regarding the emission of harmful substances. This has led to the shift towards electrification of vehicles to keep up with the latest consumer demands and market trends, Moreover, the rise in disposable income m population expansion and increased purchasing power has triggered the high-level growth of the automotive microphone market in this region.

KEY INDUSTRY PLAYER

"Market Players Focus on New Product Launches to Strengthen Market Position"

Leading players in the market are adopting various strategies to expand their presence in the market. These include R&D investments and the launch of new, technologically-advanced products in the market. Some companies are also adopting strategies such as partnerships, mergers, and acquisitions to strengthen their market position.   

List of Market Players Profiled

• Goertek (China)
• Shandong Gettop Acoustic Co., Ltd. (China)
• Hosiden (Japan)
• Transtron (U.S.)
• Panasonic (Japan)
• Valeo (Peiker) (U.S.)
• Kingstate (China)
• Sincode (China)
• Gevotai (China)
• Hebei First Light (China)
• Dongguan Huaze Electronic Technology Co., Ltd (China)

REPORT COVERAGE

This report covers the analysis of the automotive microphone providing a comprehensive market insight focusing on the existing key players who would play a crucial role in the forecasting period. It also analyses based on segmentation, industrial developments, trends, growth, size, share, restraints and revenue. The report covers an overview of the latest driving factor in the industry, dominant region, latest innovations and opportunities.