Acoustic Vehicle Alerting System Market Size Projected to Garner USD 1,619 Million by 2032 growing at 13.5% CAGR - Exclusive Report by Acumen Research and Consulting
The Acoustic Vehicle Alerting System Market Size is predicted to reach USD 1,619 Million by 2032 from USD 463 Million in 2022, at a CAGR of 13.5% between 2023 and 2032, as per the Acumen Research and Consulting
The Acoustic Vehicle Alerting System (AVAS) has seen a significant increase in adoption within the automotive industry in recent years, driven primarily by the growing popularity of electric vehicles (EVs). Unlike traditional internal combustion engine vehicles, electric vehicles operate quietly, posing a potential safety concern for pedestrians who may not hear them approaching. AVAS addresses this concern by generating artificial sound or noise to alert pedestrians and other road users about the presence of an electric vehicle.
Regulatory bodies in various regions have recognized the importance of AVAS in enhancing road safety, leading to the implementation of mandates requiring electric vehicles to be equipped with sound-emitting devices. These regulations aim to mitigate the risk of accidents involving pedestrians who may not be accustomed to the near-silent operation of electric vehicles. As a result, automakers are increasingly integrating AVAS into their electric vehicle models to comply with these regulations and contribute to overall road safety. Beyond regulatory compliance, automakers are also leveraging AVAS as a branding and customization tool. Some manufacturers are designing unique and distinctive sounds for their electric vehicles, allowing for a more personalized and branded acoustic experience.
Acoustic Vehicle Alerting System Market Statistics
- Global Acoustic Vehicle Alerting System Market value was worth USD 463 Million in 2022, with a 13.5% CAGR from 2023 to 2032
- Asia-Pacific Acoustic Vehicle Alerting System Market share occupied around 45% in 2022
- By vehicle type, the passenger cars segment captured the majority share of the market in 2022
- By propulsion, the battery electric vehicles segment is expected to show noticeable growth during the predicted period
- Continuous development of advanced technology with customizable features, propel the Acoustic Vehicle Alerting System Market revenue
Request for a sample of this premium research report@ https://www.acumenresearchandconsulting.com/request-sample/3527
Acoustic Vehicle Alerting System Market Trends
The AVAS market has experienced significant growth in recent years, primarily driven by the expanding adoption of electric vehicles (EVs) worldwide. As governments and regulatory bodies globally focus on sustainability and emissions reduction, there has been a notable surge in the production and sale of electric vehicles. With this rise in EV numbers on the road, the demand for AVAS technology has increased proportionately, as these systems play a crucial role in ensuring pedestrian safety by emitting sounds to alert people of the approaching electric vehicles.
Additionally, technological advancements and innovations in AVAS have further fueled market growth. Manufacturers are investing in research and development to create more sophisticated and customizable alerting systems. This includes the development of AI-driven algorithms to produce adaptive and context-aware sounds that enhance safety without causing unnecessary noise pollution. As the automotive industry continues to shift towards electric mobility, the AVAS market is expected to witness sustained growth, presenting opportunities for companies specializing in this technology and contributing to the overall safety and acceptance of electric vehicles globally.
Acoustic Vehicle Alerting System Market Segmentation
Acumen Research and Consulting has segmented the global Acoustic Vehicle Alerting System Market by vehicle type, propulsion, sales channel, and region.
- By vehicle type, the industry is categorized into passenger cars, commercial vehicles, and two-wheelers.
- By propulsion, the market is divided into battery electric vehicles, hybrid electric vehicles, and plug-in hybrid electric vehicles.
- By sales channel, the market is bifurcated into aftermarket, and OEM.
- By region, the market is classified into Asia-Pacific, Latin America, North America, Europe, and the MEA.
Acoustic Vehicle Alerting System Market Regional Overview
According to the acoustic vehicle alerting system industry analysis, Europe has emerged as a prominent and growing region in the Acoustic Vehicle Alerting System (AVAS) market, driven by a combination of regulatory initiatives and the rapid adoption of electric vehicles (EVs) in the region. The European Union has been proactive in addressing the safety concerns associated with quiet electric vehicles through legislation mandating the implementation of AVAS in all new electric and hybrid vehicles. These regulatory measures have played a pivotal role in boosting the demand for AVAS technologies across the automotive industry in Europe. Moreover, the increasing awareness of environmental sustainability and the push for reducing carbon emissions have led to a surge in electric vehicle sales across European countries. As the market for EVs expands, so does the need for safety features like AVAS to address the unique challenges posed by the quieter operation of electric vehicles. European automakers are actively integrating AVAS into their electric vehicle models to comply with regulations and ensure pedestrian safety, fostering the Acoustic Vehicle Alerting System Market growth in the region.
Acoustic Vehicle Alerting System Market Players
Some of the prominent Acoustic Vehicle Alerting System Market companies are Harman International Industries, Inc., Hella Gmbh& Co. KGaA, Mercedes-Benz Group AG, Soundracer AB, Brigade Electronics Group Plc, Texas Instruments, Kendrion NV, Honda Motor Company, Kufatec GmbH & Co. Kg, and Continental Engineering Services GmbH.
Click here to buy the Premium Market Research report https://www.acumenresearchandconsulting.com/buy-now/0/3527
Receive our personalized services and customization by clicking here https://www.acumenresearchandconsulting.com/request-customization/3527
Mr. Frank Wilson
Acumen Research and Consulting
USA: +13474743864
India: +918983225533