Global Acoustic Vehicle Alerting System Market size was valued at US$ XX Bn. in 2019 and the total revenue is expected to grow at 32.88% from 2019 to 2027, reaching nearly US$ XX Bn.
The report study has analysed the revenue impact of the COVID -19 pandemic on the sales revenue of market leaders, market followers, and market disrupters in the report, and the same is reflected in our analysis.
Global Acoustic Vehicle Alerting System Market: Market Overview
Acoustic vehicle alerting system is a sound generating device assembled in electric or hybrid vehicle which emits lower level of sound than the conventional vehicle. This system produces sound when electric vehicle is running at a slow speed and helps to warn pedestrians or other commuters near the vehicle’s presence, so this system is developed to reduce the risk of accidents.
Global Acoustic Vehicle Alerting System Market: Market Dynamics
The vehicles pollute the environment due to carbon emission and the electric vehicles is promising to address climate change lowering the carbon emission, is a factor which increases the demand for electric vehiclesresulting into the demand of acoustic vehicle alerting system.Governmentmandated the installation of acoustic vehicle alerting systems in the new models of hybrid and electric vehicles which propel the acoustic vehicle alerting system market. Increasing awareness about safety of vehicle while driving is likely to anticipate the growth of the market in near future.
Higher installation and maintenance cost of acoustic vehicle alerting system hinder the growth of the market. Lack of adoption of electric vehicles in developing nations due to poor roads infrastructure adversely affect the global acoustic vehicle alerting system market. However, alternative options are available to this system likely to slow down the sale of AVAS over estimated period.
Global Acoustic Vehicle Alerting System Market: Market Segmentation
The battery electric vehicleis highly in demand due to its features such as zero emission, no pollution, so this segment is expected to grow with the highest CAGR during the forecast period. The plug-in hybrid vehicle segment is the fastest growing segment as it uses advanced technology as it recharges the vehicle by means of plug-in connection at charging platform. The OEM segment of sales channel is highly lucrative as automakers are focusing on adoption of electric vehicles to lower the pollution rate which is caused by CO2 emission. The integrated segment is subjected to highest growth rate after the introduction of ECU in the new vehicle environment.
Global Acoustic Vehicle Alerting System Market: Regional Analysis
North Americais dominating the global acoustic vehicle alerting system market due to adoption of advanced technology. The significant growth of automotive sector and improving the infrastructure of emerging nation propel the demand of acoustic vehicle alerting system. Increasing awareness about traffic pollution and initiative taken by several government for the adoption of electric vehicle in this region. In addition, US government mandate the installation of AVAS in new model of electric vehicle, increases the sales in this region. On country level, China is focusing on introducing the acoustic vehicle alerting system in electric vehicles.
Report covers in-depth analysis of key development, marketing strategies, supply-side and demand side indicators and company profiles of market leaders, potential players, and new entrants. Key players operating in this market are adopting various organic and inorganic growth strategies such as merger& acquisitions, joint ventures, collaborations, expansion, new product launches and patents to increase their regional presence and business operations.
The objective of the report is to present a comprehensive analysis of the Global Acoustic Vehicle Alerting System Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report.
External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Acoustic Vehicle Alerting System Market dynamics, structure by analysing the market segments and project Global Acoustic Vehicle Alerting System Market Clear representation of competitive analysis of key players by price, financial position, Product portfolio, growth strategies, and regional presence in the Global Acoustic Vehicle Alerting System Market make the report investor’s guide.
Scope of Global Acoustic Vehicle Alerting System Market
Global Acoustic Vehicle Alerting System Market, by Installation
Global Acoustic Vehicle Alerting System Market, by Vehicle
• Plug-in Hybrid electric vehicle
• Full cell electric vehicle
• Battery electric vehicle
Global Acoustic Vehicle Alerting System Market, by Sales Channel
Global Acoustic Vehicle Alerting System Market, by Region
• Asia Pacific
Rest of Asia
• North America
• South America
Rest of South America
• Middle East & Africa
Rest of MEA
Global Acoustic Vehicle Alerting System Market, Key Players
• Delphi Technologies
• HARMAN International
• Continental AG
• Bosh Engineering
• Daimler AG
• Nissan Motor Company Ltd.
• BMW AG
• Mando-Hella Electronics Corporation
• Kufatec GmbH & Co. KG
• Denso Corporation
• Sound Racer
• Honda Motor Co., Ltd.
• Tesla Inc.
• Kendrion N.V.
• Brigade Electronics
• Texas Instruments
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