Drivers and passengers expect high-quality audio in their cars - and those expectations are growing. Many automotive companies now use audio to differentiate themselves and promote branded audio. As the automotive audio system market continues to gain traction, it is expected to generate $25B by the end of 2023 and rising to $29B by 2027.
Read MoreNew vehicle production issues combined with steady demand fueled by continued population growth have created unprecedented profit margins on historically low volumes. The past 18 months have raised many pressing issues about the sector’s ability to sustain this high-octane dynamic. Among them is how industry executives can make the best decisions when conventional key performance indicators (KPIs) are out of whack.
Read MoreFrost & Sullivan finds that the global automotive aftermarket will gather momentum this year as a slowdown in new vehicle sales due to the impact of COVID-19 and aging vehicle parc will create more opportunities in the aftermarket space. The market is estimated to garner $478.8 billion by 2025 from $362.21 billion in 2020.
Read MoreAccording to Frost & Sullivan’s recent analysis, aftermarket revenue expanded by 4.1% in 2019. This was largely driven by a 3.2% growth in vehicles in operation, with the contraction in global gross domestic product (GDP) growth stifling consumer expenditure on new vehicle purchases.
Read MoreA new study by The NPD Group has found 14 percent of buyers in the automotive aftermarket make purchases online.
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