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Automotive Speaker Market worth $12.92 billion in 2029 – Exclusive Report by MarketsandMarkets™

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DELRAY BEACH, Fla., Nov. 19, 2024 /PRNewswire/ — The global automotive speaker market is expected to reach USD 12.92 billion in 2029 from USD 9.49 billion in 2024, at a CAGR of 6.4% during the forecast period according to a new report by MarketsandMarkets™. Car speakers are meant to improve the car’s audio experience and deliver clearer bass, midrange, and treble sounds. They are designed specifically to withstand the harsh conditions of the automotive environment, including adverse vibrations, temperature variations, and humidity, while simultaneously delivering high-fidelity sound and good durability. Advanced materials increase clarity and minimize distortion in the sound, including polypropylene cones and neodymium magnets. Given the vigorous drive for high quality by consumers, manufacturers are expanding on innovation to bring powerful units in line with the constantly evolving preferences of modern vehicle owners.

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Browse in-depth TOC on “Automotive Speaker Market” 
324 – Tables
56 – Figures
112 – Pages

Automotive Speaker Market Report Scope:

Report Coverage

Details

Market Revenue in 2024

$ 9.49 billion

Estimated Value by 2029

$ 12.92 billion

Growth Rate

Poised to grow at a CAGR of 6.4%

Market Size Available for

2020–2029

Forecast Period

2024–2029

Forecast Units

Value (USD Million/Billion)

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

By Type, Vehicle, Installation, Technology and Region

Geographies Covered

North America, Europe, Asia Pacific, and Rest of World

Key Market Challenge

High competition and price sensitivity

Key Market Opportunities

Increasing demand for electric vehicles with quieter cabins

Key Market Drivers

Increasing strategic partnerships between automakers and premium audio brands

The coaxial speaker segment is expected to hold the largest market share during the forecast period.

The coaxial speakers hold the largest market share during the forecast period. Coaxial speakers are also called full-range speakers as they pack the woofer, tweeter, and crossover in a single unit, making it one of the most in-demand speakers while upgrading a car’s audio system. They are easy to install and come in the standard factory space fitting with good sound through all frequencies without special modifications. They also have different ranges of price and performance options to fit the budgeted requirements to upgrade the car’s audio system. Brands like Clarion, JBL, and Stillwater Designs top this list with popular models and thus meet the demand for good-quality sound in cars to propel market growth.

The door speakers segment is dominating the automotive speaker market.

Door speakers are the market leaders of automobile speakers because they can deliver quality sound to the passengers, enhancing the overall sound quality during audio playback within the car. The speakers are placed strategically for a well-balanced, high-quality sound for playing music, navigating, or even receiving calls. This demand for better sound makes car manufacturers fit more speakers per door with woofers and tweeters. Brands like Meridian Audio have used advanced tech to produce immersive sound. Thus, door speakers have become the most popular market for those who need quality audio within their vehicles.

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US in the North America region to dominate the automotive speaker market during the forecast period

The US dominates the automotive speaker industry in North America primarily because consumers demand quality in-car audio and entertainment systems. This market is also driven by the trend toward electric vehicles, considering most tend to be equipped with premium infotainment sets. Recent government investments in building infrastructure for EVs have helped further boost sales growth. Car manufacturers heavily depend on advanced audio systems, and the US is commanding a lead in the automotive speaker market.

Key players

The automotive speaker companies includes significant Tier I and II players like Panasonic Holdings Corporation (US), Bose Corporation (US), Samsung Electronics Co., Ltd. (South Korea), Alps Alpine Co., Ltd. (Japan), Pioneer Corporation (Japan), Sony Group Corporation (Japan), Masimo Corporation (US), Clarion (US), Focal (France), Elettromedia S.p.A. (Italy), JVC KENWOOD Corporation (Japan), Stillwater Designs (US), Rockford Corp. (US)  are some of the key players in the automotive speaker market.

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Browse Adjacent Market: Semiconductor and Electronics Market Research Reports &Consulting

Related Reports: 

Wireless Audio Device Market by Product (True Wireless Hearables/Earbuds, Headsets, Earphones), Technology (Bluetooth, Airplay, Wi-Fi), Application (Consumer, Home Audio, Automotive), Functionality (Smart, Non-smart) and Region – Global Forecast to 2029

Hi-Fi System Market by System (Product, Device), Connectivity Technology (Wired, Wireless (Bluetooth, Wi-Fi, Airplay, Others)), Application (Residential, Automotive, Commercial, Others), and Geography – Global Forecast to 2025

Smart Speaker Market by IVA (Alexa, Google Assistant, Siri, DuerOS, Ali Genie), Component (Hardware (Speaker Driver, Connectivity IC, Processor, Audio IC, Memory, Power IC, Microphone) and Software), Application, and Region – Global Forecast to 2025

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

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Wondershare Launches Massive Black Friday Sale with Discounts on Top Products

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Black Friday Savings Available from November 7 to December 6, 2024, Featuring Discounts of up to 81% on Industry-Leading Software Solutions

VANCOUVER, BC, Nov. 18, 2024 /PRNewswire/ — Wondershare Technology, a global leader in software solutions for multimedia, creativity, and productivity, is thrilled to announce its highly anticipated Black Friday promotion. From November 7 to December 6, 2024, customers can enjoy significant discounts on a wide selection of  Wondershare’s flagship products, available on Wondershare’s promotional website.

This Black Friday, Wondershare is offering substantial savings across an impressive portfolio of products that have empowered billions of users worldwide—from creators and educators to professionals in diverse fields. Highlighted products include Filmora, UniConverter, PDFelement, Virbo, Edraw, Recoverit and a lot more… 

Some Highlighted Deals and Promotions:

Filmora – Save Up to 30%: As Wondershare’s most popular video editing software, Filmora provides creators with advanced video effects, templates, and editing tools to easily produce professional-level videos. The latest Filmora 14 version boasts numerous enhancements: Smart Scene Cut, translation-Lip-Sync, AI Face Mosaic, AI Portrait Cutout, AI Sound & Video Enhancers, AI Color Palette, Voice Denoise, and Multi-Camera Editing. These features significantly elevate production efficiency.

UniConverter – Save Up to 30%: Wondershare’s powerful multimedia file management software, UniConverter, is designed to simplify media conversion, compression, and editing, making it ideal for creators and professionals managing a variety of media formats.

PDFelement  – Save up to 81%: PDFelement empowers users to seamlessly edit, convert, and sign PDFs, offering a complete document solution that enhances productivity and streamlines document handling. This robust software is perfect for businesses, educators, and individual users needing reliable PDF management tools.

Virbo – Save Up to 30%: Virbo offers an AI-powered one-stop video marketing solution specifically designed to maximize your conversions. It is ideal for educational, marketing, and entertainment purposes by supporting user engagement through personalized video experiences.

Edraw – Save up to 45%: Edraw is an intelligent diagramming and mind mapping tool, perfect for creative brainstorming, strategic planning, and visual presentations. Ideal for professionals and students alike, Edraw provides powerful visualization capabilities.

Accessing the Deals:

Shoppers can access all offers and more information on the Black Friday promotion by visiting Wondershare’s promotional website.

About Wondershare:

Wondershare is a globally recognized software company, known for its innovative solutions in creativity and productivity. Driven by the mission “Creativity Simplified,” Wondershare offers a range of tools, including Filmora, Anireel, and DemoCreator for video editing; PDFelement for document management; EdrawMax, EdrawMind for diagramming; and SelfyzAI, Pixpic, FaceHub, AniEraser for image recovery and editing. With over 1.5 billion users across 200+ countries and regions, Wondershare empowers the next generation of creators with intuitive software, trendy creative resources, and a dynamic ecosystem, continually expanding the possibilities of creativity worldwide.

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TIFIN Give Launches Novel Philanthropy Feature Enabling Donors to Mobilize Communities Through Donor-Advised Funds

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The first-of-its-kind feature enables donors to create public campaigns and drive community engagement from a unified platform.

BOULDER, Colo., Nov. 19, 2024 /PRNewswire/ — TIFIN Give, the modern philanthropic planning platform, today announced the launch of a new feature designed to enhance donor-advised funds (DAFs) for wealth enterprises, including RIAs, broker-dealers, and wirehouses.

This novel feature allows donors to create personalized public campaigns to encourage friends, families, and communities to join them in supporting causes they care about. This capability transforms individual giving into a collaborative effort, enabling donors to amplify their philanthropic influence while engaging their networks in meaningful contributions.

This community giving feature has already been deployed with clients of TIFIN Give and has been widely adopted by financial advisors and their clients across the wealth management industry. The release builds upon existing multi-generational capabilities, which allows donors to bring their family into the giving experience, compare giving history, and cultivate a legacy of generosity.

Importantly, donors no longer need to rely on external platforms to involve their networks in philanthropy. Donors can now manage their philanthropic journey, invite participation, and access aggregated insights across campaigns—all within a seamless, unified platform experience.

Following recent Hurricanes Helene and Milton, DAF holders used TIFIN Give to raise funds for disaster relief organizations. Donors quickly created personalized campaign pages and invited their networks to contribute, sharing campaigns via social media, emails, texts, and QR codes. Grants were processed directly through the platform, ensuring timely and impactful support.

“TIFIN Give is redefining giving,” said Dr. Vinay Nair, Founder and CEO of TIFIN. “This first-of-its-kind community giving feature now allows families to rally their networks for any of their causes on one platform.”

TIFIN Give, as a result of this release, now also bolsters community awareness for lesser-known organizations by increasing donation value without adding administrative burden to the charities. Every donor receives an immediate tax receipt, ensuring a tax-efficient and seamless giving process that maximizes the benefit to charitable organizations.

“TIFIN Give is dedicated to reshaping philanthropy through innovation,” added Paul Lussow, CEO of TIFIN Give. “This new feature empowers donors to become community leaders, amplifying their efforts by involving others while reducing operational challenges for smaller charitable organizations.”

About TIFIN Give
TIFIN Give redefines donor-advised funds with a fully digital platform tailored for wealth enterprises, including RIAs, broker-dealers, workplaces, and WealthTech providers. For more information about TIFIN Give please visit TIFINgive.com or follow us on LinkedIn.

About TIFIN
TIFIN builds and operates companies that leverage AI, data science, and technology to address frictions in wealth and asset management. Its portfolio of companies includes Magnifi, TIFIN Give, TIFIN Wealth, TIFIN AMP, TIFIN AG, Sage, Helix, TIFIN @Work, and MyFi. TIFIN has been backed by JP Morgan, Morningstar, Hamilton Lane, Franklin Templeton, SEI, Motive Partners, and Broadridge among others.

Media Contacts
The Rudin Group
Michael Walsh
michael@therudingroup.com

TIFIN Give
Katie Gervase
katie.gervase@tifingive.com

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Safes and Vaults Market to Grow by USD 1.57 Billion (2024-2028), Driven by Healthcare Demand, with AI Impacting Market Trends – Technavio

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NEW YORK, Nov. 19, 2024 /PRNewswire/ — Report on how AI is redefining market landscape – The global safes and vaults market size is estimated to grow by USD 1.57 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 5.34%  during the forecast period. Increasing demand for safes and vaults from healthcare industry is driving market growth, with a trend towards growing demand for customized safes and vaults. However, increase in cashless transactions  poses a challenge.Key market players include Access Security Products Ltd., Acme Safe Co., ADT Inc., ALPHA INDUSTRIES PVT. LTD., American Rebel Holdings Inc., American Security, BJARSTAL sarl, Blue Dot Safes Inc., Bode Panzer GmbH, Brown Safe Manufacturing Inc., Bumilsafe Mfg. Co., CMI Safe Co Australasia Pty Ltd., Diebold Nixdorf Inc., Dormakaba Holding AG, Godrej and Boyce Manufacturing Co. Ltd., Gunnebo AB, Hayman Safe Co. Inc., INKAS Safe Manufacturing Ltd., ISM, and Kumahira Co. Ltd..

Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View Free Sample PDF

Safes And Vaults Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 5.34%

Market growth 2024-2028

USD 1.57 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

5.18

Regional analysis

APAC, Europe, North America, Middle East and Africa, and South America

Performing market contribution

APAC at 36%

Key countries

US, China, Japan, Germany, and UK

Key companies profiled

Access Security Products Ltd., Acme Safe Co., ADT Inc., ALPHA INDUSTRIES PVT. LTD., American Rebel Holdings Inc., American Security, BJARSTAL sarl, Blue Dot Safes Inc., Bode Panzer GmbH, Brown Safe Manufacturing Inc., Bumilsafe Mfg. Co., CMI Safe Co Australasia Pty Ltd., Diebold Nixdorf Inc., Dormakaba Holding AG, Godrej and Boyce Manufacturing Co. Ltd., Gunnebo AB, Hayman Safe Co. Inc., INKAS Safe Manufacturing Ltd., ISM, and Kumahira Co. Ltd.

Market Driver

The market for safes and vaults is witnessing significant growth due to the increasing need for safety and security of cash, valuable things, documents, records, devices, and other valuable commodities. With the rising crime rate and the threat of unauthorized access, both commercial and residential settings are investing in safes and vaults. Traditional safes made of thick metal plates are being replaced by electronic and biometric safes for added security. The banking sector and non-banking sector, including retailers and e-commerce channels, are major buyers of cash management safes and depository safes. Neo banks and branchless banks are also adopting smart safes and digital vaults for secure cash management. The residential market is seeing a trend towards home safes with biometric identification, such as fingerprint-based safes and biometric scanners. The retail market is also focusing on secure data storage through data safes and sustainability through eco-friendly safes. The insurance industry is another significant player in the market, with a focus on protecting sensitive data and assets from damage, theft, and disasters. The use of robotic technology, cash recyclers, and automatic locks is becoming increasingly popular in commercial sectors. The safety features of safes and vaults include lock mechanisms, time locks, relocking devices, fire-resistant materials, and water-resistant materials. The market is expected to grow further due to the increasing urbanization, disposable income levels, and living standards, as well as the digitization of various sectors and the need for secure data storage. 

Customized safes and vaults cater to unique security needs and preferences, shifting from standard to tailored solutions. Advanced security features like biometric authentication, electronic locking systems, and real-time monitoring can be integrated. Customization allows for optimal performance in diverse settings such as financial institutions, retail spaces, or residential properties. Seamless integration into interior designs ensures a professional appearance. These customizations enhance security and adaptability, providing superior protection for valuables. 

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 Market Challenges

The Safes and Vaults market encompasses various types of safes and vaults used to secure cash, valuable things, documents, records, devices, and other valuable commodities. Challenges in this market include illegal access, theft, disasters, and unauthorized access. Commercial banks, e-commerce channels, neo banks, and branchless banks are significant customers for safes and vaults in the banking sector. In the non-banking sector, retailers, private label brands, and international brands require safes for cash management and securing valuable items. Safes come in various types such as traditional safes, electronic safes, biometric safes, cash management safes, depository safes, media safes, residential safes, and commercial safes. Security features include thick metal plates, passwords, biometric identification through fingerprint scanners and facial recognition, time locks, relocking devices, fire-resistant materials, and water-resistant safes. The market faces challenges such as damage from disasters, unauthorized access, and the need for sustainability with eco-friendly safes and energy consumption. The insurance industry and data protection laws require secure data storage through data safes. The market is also witnessing digitization with digital vaults, mobile wallets, and automatic locks, as well as robotic technology, cash recyclers, and remote monitoring systems. The retail market, financial wealth, standard of living, investment, and consumers drive the demand for safes and vaults in various settings, including commercial sectors, residential settings, small business settings, and various industries such as hotels, hospitals, educational institutions, and smart cities. Safety awareness, cash management, and security procedures are key considerations for consumers.The global issue of black money and corruption has led governing bodies to promote cashless transactions for sustainable development. Digital payment applications like Google Pay, PayPal, and Zelle have gained popularity, increasing cashless transactions significantly. Countries such as Norway and Sweden have high adoption rates, with some banks even discontinuing cash from ATMs. The enhanced security of digital transactions has further encouraged consumers to shift towards these methods.

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Segment Overview 

This safes and vaults market report extensively covers market segmentation by  

Product 1.1 Cash management safes1.2 Depository safes1.3 Vaults and vault doors1.4 Gun safes and vaults1.5 OthersEnd-user 2.1 Banking2.2 Non-bankingGeography 3.1 APAC3.2 Europe3.3 North America3.4 Middle East and Africa3.5 South America

1.1 Cash management safes-  Cash management safes are essential tools for businesses requiring on-demand cash deposit and dispense services. These safes are commonly used in banking institutions, retail shops, and cash-in-transit (CIT) applications. Integrated with LCD screens and all-purpose calculators, cash management safes offer various transaction options such as cash withdrawal, transfer, or deposit. They also detect counterfeit notes and bills, ensuring security. Manufacturers focus on value addition and advanced technology to remain competitive. Integration of software solutions and advanced technologies enhances safety and convenience, driving market growth. Consumer needs and software advancements are key growth drivers for the cash management safes segment of the global safes and vaults market.

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Research Analysis

Safes and vaults are essential security solutions for protecting cash, valuable things, documents, records, devices, and other important assets from illegal access, theft, and disasters. They come in various sizes and types, including home safes and large commercial vaults. The market for safes and vaults continues to grow due to increasing crime rates and the need for advanced security measures. Safes and vaults use different access methods such as keys, codes, and biometric identification. Key duplication is a concern for traditional key-based safes, making code and biometric-based safes more popular. Fire, flood, and other disasters can also damage or destroy valuable assets, making safes and vaults with fire and water resistance essential. Commercial banks, e-commerce channels, neo banks, and branchless banks use large vaults to store large amounts of cash and other valuable assets. The safety and security procedures of these institutions are critical in preventing unauthorized access and ensuring the integrity of their assets. Smart safes and fingerprint-based safes with biometric fingerprint scanners are becoming increasingly popular due to their convenience and advanced security features. However, the risk of biometric data breaches is a concern, making it essential to follow best practices for data security. Overall, safes and vaults play a crucial role in protecting valuable assets and ensuring safety and security.

Market Research Overview

The safes and vaults market encompasses a range of security solutions designed to protect cash, valuable documents, records, devices, and other important assets from illegal access, theft, disasters, and damage. This market caters to both commercial and residential settings, with offerings including traditional safes made of thick metal plates, as well as electronic and biometric safes. In the commercial sector, banks and non-banking institutions utilize safes and vaults to secure financial wealth, valuable commodities, and sensitive data. Cash management safes, depository safes, media safes, and smart vaults are popular choices for businesses. The retail market also plays a significant role in the safes and vaults industry, with retailers offering a variety of safes for consumers, from home safes to commercial safes. E-commerce channels, neo banks, and branchless banks have also increased the demand for digital vaults, mobile wallets, and automated locker facilities, which leverage advanced technologies like biometrics, facial recognition, and robotic technology. The safety and security of valuable assets are paramount, and safes and vaults come equipped with various features such as high-strength materials, lock mechanisms, time locks, relocking devices, fire-resistant and water-resistant materials, and smart connectivity. The market is also influenced by factors such as crime rate, safety awareness, and the standard of living, with a growing trend towards eco-friendly and energy-efficient safes. The insurance industry and data protection laws further drive the demand for safes and vaults, as they provide an essential layer of security for assets and sensitive information. The market is expected to continue growing, with a focus on innovation and digitization to meet the evolving needs of consumers and businesses.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ProductCash Management SafesDepository SafesVaults And Vault DoorsGun Safes And VaultsOthersEnd-userBankingNon-bankingGeographyAPACEuropeNorth AmericaMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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