Many industry executives peg the size of the car audio market (without installation) at approximately $1.5 billion in retail sales. Add about another $700 million or so for installation/labor.
The $1.5 billion figure includes the categories of head units, amplifiers, subwoofers and speakers, security/remote start, dash cams, rear cameras and accessories (such as adapter kits and wiring).
Drilling down further, head units are estimated to be about 30 percent of the market, amplifiers at about 15 percent, speakers/subs at about 30 percent, and security/remote start at about 15 percent, said leading industry executives.
The 12 volt market has shrunk considerably from its most recent peak in the year in 2006. The Consumer Technology Association pegged the aftermarket at about $3.65 billion wholesale for that year. (This $3.65 billion figure would have been much higher at retail, compared to the current retail figure of $1.5 billion).
Much of the decline in sales over the years is due to consumers retaining their factory head units, which now include many advanced features that are intricately tied to other car features. This trend is expected to continue, especially as electric vehicles become more prevalent.
In response, many retailers and suppliers have branched into other categories including powersports, marine, and motorcycle audio plus window tint, paint protection, leather seat replacement, automotive lighting and more, categories, which are not necessarily tracked in the above industry estimates.
Photo via Car Toys