The devices that aid in producing sound are known as acoustic vehicle alerting systems. They protect pedestrians by making people aware of the vehicle's presence. Several nations are pushing for the global adoption of electric vehicles as a result of rising concerns about the environment and passenger safety. Its ability to sound an audio warning when an electric vehicle is detected close is its main advantage for bicyclists and pedestrians. The acoustic signal of this technology has proven effective in reducing the likelihood of potential collisions and enhancing overall road safety. The market for these systems has grown tremendously because to safety concerns for cyclists and pedestrians, as well as rising demand for electric automobiles in the automotive sector.
According to SPER market research, Acoustic Vehicle Alerting System Market Size- By Propulsion Type, By Vehicle Type, By Electric Two-Wheeler, By Sales Channel, By Mounting Position- Regional Outlook, Competitive Strategies and Segment Forecast to 2033 state that the Global Acoustic Vehicle Alerting System Market is predicted to reach USD 51.62 billion by 2033 with a CAGR of 37.31%.
Pedestrian Safety Emphasis-
The growing emphasis on pedestrian safety, especially in urban environments, worldwide is the main factor propelling the market for acoustic vehicle alerting systems (AVAS). The deployment of AVAS is being aggressively promoted by governments and regulatory agencies as a vital component in lowering accidents involving pedestrians.
The rise of electric cars, or EVs For the AVAS market, the increasing use of electric cars is a major factor. There is a safety risk for pedestrians when electric cars are running silently at low speeds. By creating fake noises, improving safety, and coordinating with the global transition to electric vehicles, AVAS tackles this problem.
Standardization problems-
The expansion of the AVAS technology business may be impeded by the absence of worldwide standards. For producers trying to comply, varying regional regulatory frameworks and regulations might provide difficulties. The lack of a globally recognized standard might make it more difficult to modify AVAS solutions for international markets. Complexity of Technology Integration, It can be difficult to integrate AVAS technology into current car platforms, especially for older vehicles. Installing aftermarket AVAS in vehicles that weren't designed to support them may be more costly and technically challenging. The intricacy of AVAS might hinder its pace of adoption.
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Impact of COVID-19 on Acoustic Vehicle Altering Systems Market
Additionally, The COVID-19 pandemic has caused economic disruption in a number of nations since the lockdown, leading to travel restrictions and company closures that have harmed the AVAS industry's supply chain. Government restrictions and closures have hindered the development of electric cars. Furthermore, worker shortages brought on by social distance norms and other constraints have hindered the advancement of equipment connected to AVAS. Sales of electric cars increased over the previous year, indicating that COVID-19 had a positive impact on the sector. The necessity for AVAS will increase once more after the epidemic as the market for electric vehicles grows.
Acoustic Vehicle Alerting System Market Key Players:
Geographically, Asia-Pacific is expected to become a major development area for the AVAS market due to the increasing uptake of electric cars in nations such as South Korea, Japan, and China. The need for AVAS in the area is anticipated to be driven by government programs that support electric mobility as well as developments in vehicle technology. Key players are Brigade Electronics, Continental AG, Continental Engineering Services GmbH, Delphi, Mando-Hella Electronics, Harman International, Hella Gmbh & Co. KGaA, Siemens, SEGER, Thor (Dubai).
Acoustic Vehicle Alerting System Market Segmentation:
The SPER Market Research report seeks to give market dynamics, demand, and supply forecast for the years up to 2033. This report contains statistics on product type segment growth estimates and forecasts.
By Propulsion Type: Based on the Propulsion Type, Global Acoustic Vehicle Alerting System Market is segmented as; BEV, PHEV, FCEV.
By Vehicle Type: Based on the Vehicle Type, Global Acoustic Vehicle Alerting System Market is segmented as; Passenger Cars, Commercial Vehicle
By Electric Two-Wheeler: Based on the Electric Two-Wheeler, Global Acoustic Vehicle Alerting System Market is segmented as; E-Scooter/Moped, E-Motorcycle.
By Sales Channel: Based on the Sales Channel, Global Acoustic Vehicle Alerting System Market is segmented as; OEM, Aftermarket.
By Mounting Position: Based on the Mounting Position, Global Acoustic Vehicle Alerting System Market is segmented as; Integrated, Separated.
By Region: This research also includes data for North America, Asia-Pacific, Latin America, Middle East & Africa and Europe.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.
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Acoustic Vehicle Alerting System Market Demand
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Due to the burgeoning requirement for electric vehicles (EVs), falling costs of acoustic vehicle alerting system (AVAS) components, and implementation of mandatory regulatory compliances in several countries, the global acoustic vehicle alerting system market revenue is predicted to rise to $10,578.8 million by 2030.
Furthermore, the market will advance at a CAGR of 11.9% from 2020 to 2030 (forecast period), as per the estimates of the market research company, P Intelligence.The surging sales of electric vehicles is a major growth driver for the market.
In 2019, the size of the worldwide electric car fleet surpassed 7.1 million units, recording an increment of over 2 million from the number of cars that were in operation in 2018. and it is predicted to rise above 130 million by 2030.
The mushrooming adoption of electric vehicles is attributed to the growing public awareness about the rapid environmental degradation caused due to the extensive usage of gas and oil-powered vehicles and the increasing government support being provided for the development and procurement of these vehicles in many countries.Due to the falling cost of these components, the overall price of AVASs will decline, which will subsequently fuel their sales and production in the coming years.
Depending on propulsion, the acoustic vehicle alerting system market is classified into plug-in hybrid electric vehicle (PHEV), fuel cell electric vehicle (FCEV), and battery electric vehicle (BEV).
Out of these, the BEV category is predicted to hold the largest share in the market during the forecast period.This is credited to the rising government support being provided for the manufacturing of these vehicles, due to their eco-friendliness.
According to Market Research Future (MRFR), The global Acoustic Vehicle Alerting System Market is estimated to witness a CAGR of 12% from 2019 to 2025 (forecast period).
The report discusses the strengths, opportunities, threats, and potential business risks and offers a detailed analysis of the global market situation with the effect of COVID-19.The Acoustic Vehicle Alerting System (AVAS) is a sound generation device for electric vehicles and hybrid electric vehicles.
The noise frequency/level emitted by the EV is very different from that generated by the internal combustion engine (ICE) vehicle.
In addition, the increasing number of electric vehicles on the road increases the possible danger of silent vehicles for pedestrians, cyclists, and the general population.Get free sample pdf @ https://www.marketresearchfuture.com/sample_request/8161Market DynamicsThe growth of the global Acoustic Vehicle Alerting System Market Size can mainly be attributed to the strict regulations imposed by governments across the globe to curb the risk of accidents induced by electric vehicles' low sound.
For example, the European Union has a new regulation requiring all new electric and hybrid vehicles to alert pedestrians when traveling at speed below 12 mph by 2021.
The rising demand for autonomous vehicles and connected vehicles generates opportunities for manufacturers.Moreover, governments around the world, including the United States, the United Kingdom, India, and China, are taking steps to raise awareness about the use of electric vehicles to mitigate adverse environmental impacts and foreign exchange reserves.
The global market for acoustic vehicle alerting systems was valued at about USD 33 Million in 2017 and is estimated to be more than USD 214 Million by the end of the assessment period.The growth of global acoustic vehicle alerting systems market can be primarily be attributed to the stringent regulations mandated by the governments across the globe to curb the possibility of accidents caused due to low sound of electric vehicles.
For instance, the European Union has a new directive requiring all new electric and hybrid vehicles to give a sound warning to pedestrians when traveling at speeds below 12 mph by 2021.Request a sample of this premium report at: https://www.marketresearchfuture.com/sample_request/8161Prominent PlayersThe Prominent Players in the global acoustic vehicle alerting systems market are Denso Corporation (Japan), HARMAN International (US), Delphi Technologies (UK), Daimler AG (Germany), Volkswagen AG (Germany), BMW AG (Germany), Honda Motor Co., Ltd (Japan), Nissan Motor Corporation (Japan), MANDO-HELLA Electronics Corp. (South Korea), and KUFATEC GmbH & Co. KG (Germany)Intended AudienceElectric vehicle OEMsEV infrastructure providersGovernment bodiesScope of the ReportThis study provides an overview of the global acoustic vehicle alerting systems market, tracking two market segments across four geographic regions.
The report studies key players and provide a six-year annual trend analysis, which highlights market size, volume, and share for North America, Europe, Asia-Pacific, and the Rest of the world.
The report also provides a forecast, which focuses on the market opportunities for the next six years for each region.
The scope of the study segments the global acoustic vehicle alerting systems market by vehicle type, sales channel, and region.Regional Analysis:Geographically, the global acoustic vehicle alerting systems market has been segmented into four major regions, which are North America, Europe, Asia-Pacific, and the Rest of the world.
The electric vehicle market in North America is expected to dominate the global acoustic vehicle alerting systems market through the forecast period, owing to stringent norms regulated by the government for pre-mounting of noisemaking devices in EVs and hybrid cars during the manufacturing process.
According to Market Research Future (MRFR), The global acoustic vehicle alerting systems market is estimated to witness a CAGR of 12% from 2019 to 2025 (forecast period).
The report discusses the strengths, opportunities, threats, and potential business risks and offers a detailed analysis of the global market situation with the effect of COVID-19.Market DynamicsThe growth of the global acoustic vehicle alerting systems market can mainly be attributed to the strict regulations imposed by governments across the globe to curb the risk of accidents induced by electric vehicles' low sound.
For example, the European Union has a new regulation requiring all new electric and hybrid vehicles to alert pedestrians when traveling at speed below 12 mph by 2021.
Likewise, in the US, the National Highway Safety Administration (NHTSA) mandated to require all electric and hybrid vehicles to emit sound while traveling up to 18.6 mph by September 2020.Moreover, governments around the world, including the United States, the United Kingdom, India, and China, are taking steps to raise awareness about the use of electric vehicles to mitigate adverse environmental impacts and foreign exchange reserves.
For illustration, the Government of India has launched the National Electric Mobility Mission Plan (NEMMP) 2020, with the goal of achieving national fuel security by encouraging the use of electric vehicles in the country.
Likewise, the European Commission initiated ‘Green eMotion’ project worth EUR 41.8 million (USD 47.22 million) intending to achieve technical optimization and the growth of the EV industry.
