Acoustic Vehicle Alert System Market Size, Share, Competitive Landscape and Trend Analysis Report : Global Opportunity Analysis and Industry Forecast, 2023-2032
PORTLAND, PROVINCE: OREGAON, UNITED STATES, August 26, 2024 /EINPresswire.com/ — The global market size of acoustic vehicle alert system industry is estimated at $653.02 million in 2022, and is estimated to garner $1959.02 million by 2032, registering a CAGR of 12.6% from 2023 to 2032.
The global acoustic vehicle alert system market has seen significant growth and change due to surge in government regulation for mandate to deploy AVAS in the electric vehicles. Increase in sales of electric vehicles with advance equipment incorporated in the vehicles are boosting the market growth.
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Electric and hybrid vehicles that lack an acoustic alert system, rendering them nearly silent, with audible noise only emerging at speeds around 20kph due to wind and road noise. These vehicles pose a heightened threat to vulnerable road users (VRU), elevating the risk of pedestrian incidents by up to 80%. Sound plays a crucial role in road safety for pedestrians, impacting the visually impaired and individuals navigating roadways as well. The growing prevalence of electric vehicles has led to the relatively quiet operation of EVs, identifying as a potential cause for road accidents due to which AVAS is deployed in these vehicles.
Electric and hybrid vehicles that lack an acoustic alert system, rendering them nearly silent, with audible noise only emerging at speeds around 20kph due to wind and road noise. These vehicles pose a heightened threat to vulnerable road users (VRU), elevating the risk of pedestrian incidents by up to 80%. Sound plays a crucial role in road safety for pedestrians, impacting the visually impaired and individuals navigating roadways as well. The growing prevalence of electric vehicles has led to the relatively quiet operation of EVs, identifying as a potential cause for road accidents due to which AVAS is deployed in these vehicles.
The worldwide market for acoustic vehicle alert systems share is categorized based on propulsion type, vehicle type, and region. Propulsion types include battery electric vehicles (BEV) and plug-in hybrid electric vehicles (PHEV). Vehicle types encompass two-wheelers, passenger vehicles, and commercial vehicles. The AVAS market analysis extends across regions such as North America, Europe, Asia-Pacific, and LAMEA.
Acoustic Vehicle Alerting Systems (AVAS) function as safety devices for electric vehicles (EVs). The noise produced by EVs is quieter than that of internal combustion engine (ICE) vehicles. This lower noise level poses a challenge for pedestrians, especially those with impairments. Therefore, AVAS is installed in silent vehicles for instance, electric and hybrid vehicles to alert pedestrians to their presence. Artificial sounds are generated using loudspeakers or actuators through vibration, aligning with the vehicle’s structural elements and proportional to parameters such as velocity, gas pedal position, and gear.
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The Indian government has implemented various initiatives to encourage the production and usage of electric vehicles (EVs) in order to address emissions concerns related to international agreements and advance e-mobility in response to fast-paced urbanization. The National Electric Mobility Mission Plan (NEMMP) and the Faster Adoption and Manufacturing of Hybrid & Electric Vehicles in India (FAME I and II) played crucial roles in generating initial enthusiasm and awareness for electric mobility. In the second phase of FAME, the government allocated a budget of USD 1.4 billion until 2022 to further support the development and adoption of electric vehicles.
Recognizing the crucial role of AVAS (Acoustic Vehicle Alerting System) in enhancing road safety, regulatory bodies across different regions have implemented mandates requiring electric vehicles to be equipped with sound-emitting devices. These regulations aim to address the potential risk of accidents involving pedestrians who are unaccustomed to the near-silent operation of electric vehicles. Consequently, automakers are increasingly incorporating AVAS into their electric vehicle models to comply with these regulations and contribute to overall road safety.
Sustainability objectives are actively established by businesses and governments across the globe. Owing to these objectives the government and businesses are working in reduction of CO2 emissions, pollution, and noise, coupled with an emphasis on enhancing overall efficiency. Consequently, certain governmental entities are providing tax credits and other incentives to individuals opting for electric vehicles, thereby improving accessibility for many to adopt EVs. Through this the AVAS are also getting opportunity as it is a mandate to deploy this system in the EVs.
The acoustic vehicle alert system market is anticipated to be influenced significantly by technological advancements. Factors include customizable sound profiles, surround sound systems, and seamless integration with smart city infrastructure. The merging of AVAS systems with advanced driver-assistance systems (ADAS) and connected vehicle technology are driving the market growth. In addition, with an ongoing emphasis on safety in the automotive industry, there is an increase in the demand for AVAS systems. This surge in demand are creating new opportunities for manufacturers and technology providers operating in the market.
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In addition, the acoustic vehicle alert system industry is highly competitive, with several key players dominating the industry. Prominent manufacturers focus on innovation, product differentiation, and strategic partnerships to maintain their market positions.
The global acoustic vehicle alert system market is bifurcated on the basis of propulsion type, vehicle type, and region. Based on the propulsion type, the market is divided into battery electric vehicle (BEV), plug-in hybrid electric vehicle (PHEV). By vehicle type, two-wheelers, passenger vehicles, commercial vehicle. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
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By Propulsion Type, the Battery Electric Vehicle (BEV) segment is anticipated to exhibit significant growth in the market in the near future.
By Vehicle Type, the passenger vehicle segment is anticipated to exhibit significant growth in the acoustic vehicle alert system market in the near future.
By Region, Latin America is anticipated to register the highest CAGR during the forecast period.
:
HARMAN International
Honda Motor Company
Kendrion N.V.
Continental AG
STMicroelectronics
HELLA GmbH & Co. KGaA
Mercedes-Benz AG
Brigade Electronics Group PLC
Soundracer AB
Maruti Suzuki India Ltd.
David Correa
Allied Market Research
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