Sound Investments: Navigating a 12.6% CAGR Journey in the Global Acoustic Vehicle Alert System Market from 2023 to 2032

Acoustic Vehicle Alert System Market Size, Share, Competitive Landscape : Global Opportunity Analysis and Industry Forecast, 2023-2032

PORTLAND, PROVINCE: OREGAON, UNITED STATES, February 15, 2024 /EINPresswire.com/ -- The global acoustic vehicle alert system market size 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.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭- https://www.alliedmarketresearch.com/request-sample/A274060

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.

Furthermore, to enhance AVAS safety, many countries have mandated its implementation. For instance, starting from July 2019, the European Union made AVAS mandatory for all EVs and hybrid vehicles to emit a warning sound when traveling below 12 mph. This regulation aims to enhance the safety of traveling in electric vehicles.

The worldwide market for acoustic vehicle alert systems 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.

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.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 - https://www.alliedmarketresearch.com/acoustic-vehicle-alert-system-market/purchase-options

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.

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.

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 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.

𝐌𝐚𝐤𝐞 𝐚𝐧 𝐈𝐧𝐪𝐮𝐢𝐫𝐲 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 - https://www.alliedmarketresearch.com/purchase-enquiry/274544

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.

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.

𝐊𝐞𝐲 𝐅𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐎𝐟 𝐓𝐡𝐞 𝐒𝐭𝐮𝐝𝐲 :
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.

𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 :
Continental AG
STMicroelectronics
HELLA GmbH & Co. KGaA
Mercedes-Benz AG
Brigade Electronics Group PLC
HARMAN International
Honda Motor Company
Kendrion N.V.
Soundracer AB
Maruti Suzuki India Ltd.

𝐑𝐞𝐚𝐝 𝐌𝐨𝐫𝐞 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 -
Rear Cross Traffic Alert System Market- https://www.alliedmarketresearch.com/rear-cross-traffic-alert-system-market-A08918

Driver Alert Warning System Market- https://www.alliedmarketresearch.com/driver-alert-warning-system-market-A10763

Remote Diagnostics Market- https://www.alliedmarketresearch.com/remote-diagnostics-market-A13914

Vehicle Diagnostics Market- https://www.alliedmarketresearch.com/vehicle-diagnostics-market-A07148

David Correa
Allied Market Research
+1 800-792-5285
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn