Mobile electronics sales grew 6.1% in 2007 with retail sales of $6.426 billion compared to $6.055 billion in 2006, with sound-system components comprising the top six mobile-electronics items that automotive enthusiasts have installed or plan to install (see graph below). Nearly 30% have or plan to install amps in their vehicles compared to almost 35% in 2006.
It is important to note, however, that the market has shifted from a concentration on sound systems to one that is increasingly about navigation and entertainment systems. In 1999, navigation and entertainment systems accounted for just under 12% of the total mobile-electronics retail sales. By 2007, that market share had increased to 23.75%. In a year-to-year comparison, the navigation systems product category showed increased interest by enthusiasts.
According to a SEMA-conducted survey, the number-one factor considered at the time of purchase is quality. More than 86% of automotive enthusiasts ranked quality as very important. Price came in a distant second at 62.5%.
For more original SEMA market research, visit www.sema.org/research.