Acoustic Vehicle Alerting System Market

Global Acoustic Vehicle Alerting System Market Size (2024 to 2032)

The global acoustic vehicle alerting system market was valued at USD 1.95 billion in 2023 and is anticipated to reach USD 2.69 billion in 2024 from USD 35.63 billion by 2032, growing at a CAGR of 38.10% during the forecast period 2024 to 2032.

At the point when the automobile is working at a lower speed, the acoustic automobile alerting framework cautions walkers or different suburbanites about the vehicle's presence. Consequently, the gadget is created to diminish the danger of mishaps. An acoustic automobile informing framework could either be incorporated or independently accessible.

Government mandates are the key variables affecting the worldwide acoustic vehicle alerting system market. As of late, the EU's enactment has commanded the establishment of acoustic automobile alerting systems (AVAS) in the new models of electric and hybrid vehicles presented since July 2019. The European Union, however, and the National Highway Traffic Safety Administration of the U.S. has shown counterfeit commotion rules for their electric and hybrid automobiles. 

Market Drivers

The acoustic vehicle alerting system market is foreseen to develop in the estimated time frame attributable to the developing orders from different governments to introduce AVAS frameworks. Expanding concerns identified with passenger security are additionally driving the interest in AVAS frameworks. The rising investment for electric automobiles overall is anticipated to encourage the development of a worldwide acoustic vehicle alerting system market over all locales.

Market Restraints

However, significant expenses of electric automobiles and different government guidelines with respect to AVAS frameworks could hamper the development of the acoustic automobile alerting framework market during the estimated time of 2020 to 2027.

REPORT COVERAGE

SEGMENT ANALYSIS

Global Acoustic Vehicle Alerting System Market By Vehicle Type

Commercial automobiles are likewise expected to hold a significant share in the market's development during the foreseen period. This is because of the new guidelines set down in Europe and the U.S. that order the establishment of AVAS even in heavy automobiles, for example, transports and trucks. In addition, progression in the vehicle parts market has likewise positively affected the acoustic vehicle alerting system market development.

Global Acoustic Vehicle Alerting System Market By Propulsion Type

The PHEV segment is estimated to expand with a notable growth rate in the coming years with the increasing need for fuel-efficient vehicles and curb carbon emissions.

Global Acoustic Vehicle Alerting System Market By Sales Channel

The aftermarket segment accounts for a protruding portion of the global acoustic vehicle alerting system market, which is anticipated to expand steadily in the outlook period.

REGIONAL ANALYSIS

The Asia Pacific market is trailed by North America because of the existence of driving organizations such as Tesla and Ford. The U.S. and Canada are likely to be significant supporters of development in this region owing to the new guidelines set somewhere around the administrations with respect to emission standards. Europe locale has enormous demand in rising nations because of expanding interest in electric automobiles and improvement of advanced cars are developing in this area. The Asia Pacific is fore seen to show the quickest development during the estimated time frame. This is primarily a result of the development of the vehicle industry in developing nations such as South Korea, Japan, India, and China. Also, the legislatures in this area are encouraging the adoption of electric automobiles. The Middle East and Africa region is likely to have a moderate share in the acoustic vehicle alerting system market when contrasted with different districts.

KEY MARKET PLAYERS

BMW AG, Aptiv, Brigade Electronics, Daimler AG, Delphi Technologies, Denso Corporation, Honda Motor Co., Ltd, Kendrion N.V, Kufatec GmbH & Co. KG, Mando-Hella Electronics Corp, Nissan Motor Company Ltd, Sound Racer, Tesla Inc, Texas Instruments, Volkswagen AG. These are the market players that are dominating the global acoustic vehicle alerting system market.

RECENT HAPPENINGS IN THE GLOBAL ACOUSTIC VEHICLE ALERTING SYSTEM MARKET 

• Electric and hybrid automobiles are very peaceful at low speeds, and research has just demonstrated that these vehicles are bound to be more engaged with mishaps with people on foot than cars with inside combustion motors. The Quiet Vehicle Sounder (QVS) guarantees your tranquil car is heard by emitting a mix of protected bbs®-tek sound frequencies and tonal sounds.
• Mercedes-Benz needs to acquaint warning sound in EVs to warn people on foot. Different microphones are being introduced in the exterior to build up an independently designed e-sound for every electric model. 
• CR-V Hybrid models benefit from another Acoustic Vehicle Alerting System (AVAS) intended to build awareness by walkers when going under electric-only force. A speaker mounted in the front bumper produces an unmistakable perceptible alert that differs in volume relying upon automobile speed and is energetically observable to people on foot, yet almost indistinct to the driver or travelers under most conditions. 
• Kendrion's sound actuator conveys sound more widely than an ordinary loudspeaker, which implies it offers an all more equally disseminated sound field. In addition, as a closed framework, it is dust-tight and waterproof, making it support-free for business administrators. 
• SoundRacer says that looming enactment around the globe will necessitate that electric automobiles produce a noise at low speed (otherwise known as a person on-foot alert system). Rather than having this be a blare or a tweet, SoundRacer says that EV drivers may value a thundering motor sound, similar to that of a V12 Ferrari of Mustang V8. 
• Hella has declared the improvement of an Acoustic Vehicle Alerting System (AVAS). The framework has been created for hybrid and electric vehicles to be more secure for walkers and other street users. The structure will create the sound of an inward ignition motor, consequently alarming others of its presence in the region. 

DETAILED SEGMENTATION OF THE GLOBAL ACOUSTIC VEHICLE ALERTING SYSTEM MARKET INCLUDED IN THIS REPORT

This research report on the global Acoustic Vehicle Alerting System Market is segmented and sub-segmented into the following categories.

By Installation

• Integrated
• Separated

By Vehicle Type

1. Passenger Vehicle

• Compact Cars
• Mid-Sized Cars
• SUVs
• Luxury Cars

1. · Light Commercial Vehicles (LCVs)
2. · Heavy Commercial Vehicles (HCVs)

By Propulsion Type

• Fuel Cell Electric Vehicle (FCEV)
• Plug-in Hybrid Electric Vehicle (PHEV)
• Battery Electric Vehicle (BEV)

By Sales Channel

• OEM
• Aftermarket

By Region

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa