According to a new market report published by Lucintel Craig Biggio Jersey
, the future of the global marine audio market looks good with opportunities in the inboard, outboard, and sterndrive market. The global marine audio market is expected to reach an estimated $2,195.4 million by 2023 and it is forecast to grow at a CAGR of 2.5% from 2018 to 2023. The major drivers for this market are the growth in recreational boats production and increasing customer demand for better quality sound systems.
In this market, speakers, subwoofers, stereo receivers Jeff Bagwell Jersey
, and amplifiers are the major components of the marine audio system. On the basis of its comprehensive research, Lucintel forecasts that the speakers will remain the largest segment and subwoofer will experience the highest growth over the forecast period due to increasing customer demand for better quality multimedia entertainment products.