According to the research report titled ‘Global Automotive Audio Amplifier Market Size study, by Type (Passenger Cars, Commercial Vehicles, Others) and Regional Forecasts 2020-2027’ available with Market Study Report, global automotive audio amplifier market was worth around USD 540.71 million in the year 2019 and is projected to exhibit a CAGR of 3% over 2020-2027.
 

Growing adoption of domain control unit and electronic control unit in automotive vehicles is fostering the growth of global automotive audio amplifier industry. Surging demand for the product due to its clear sound with noise cancellation features and low distortion is fueling the growth the market.
 

Moreover, technological advancements and rising increasing penetration of innovative electronic devices in the automotive vertical are aiding the expansion of the market. Consumer inclination towards premium vehicles & luxury aesthetics and increasing disposable income in developing nations such as India and China are further favoring the market outlook.
 

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Citing an instance, Mercedes-Benz witnessed an upsurge in their sales by 1.4% in the year 2019, as compared to the sales garnered in the previous year.
 

On the contrary, high levels of competition in the vertical along with potential alternative innovations for the products are expected to hinder the growth of global automotive audio amplifier market over the analysis timeframe.
 

Based on type, global automotive audio amplifier market is segmented into commercial vehicles, passenger cars, and others.
 

Moving on to the regional analysis of the market, Asia-Pacific automotive audio amplifier industry is projected to register the highest CAGR over 2020-2027. As per industry experts, rising adoption of luxury vehicles as a status symbol along with shifting consumer preferences towards vehicles with luxury aesthetics and smart features are fostering the growth of the regional market.
 

The companies that hold a strong presence in global automotive audio amplifier market include Toshiba Electronic Devices & Storage Corporation, Texas Instruments Incorporated, STMicroelectronics NV, Renesas Electronics Corporation, ON Semiconductor Corporation, NXP Semiconductors N.V., Maxim Integrated Products, Inc., Infineon Technologies AG, Cirrus Logic, Inc., and Analog Devices, Inc. among others.