Acoustic Vehicle Alerting System Market Forecasts to 2030 – Global Analysis By Vehicle Type (Passenger Cars, Two-Wheelers, Commercial Vehicles and Other Vehicle Types), Propulsion, Mounting Position, Application and By Geography

Acoustic Vehicle Alerting System Market Forecasts to 2030 – Global Analysis By Vehicle Type (Passenger Cars, Two-Wheelers, Commercial Vehicles and Other Vehicle Types), Propulsion, Mounting Position, Application and By Geography

According to Stratistics MRC, the Global Acoustic Vehicle Alerting System Market is accounted for $2.2 billion in 2023 and is expected to reach $21.5 billion by 2030 growing at a CAGR of 38.4% during the forecast period. The Acoustic Vehicle Alert System (AVAS) is a safety feature installed in electric and hybrid vehicles. It generates sound to alert pedestrians and other road users about the presence of a quiet-running vehicle. Since electric cars produce minimal noise at low speeds, they can pose a danger to pedestrians, especially those with visual impairments may rely on hearing to detect approaching vehicles.

According to the World Health Organization, around 1.24 million individuals die as a result of road traffic crashes each year. If this situation persists, road traffic crashes would become the seventh leading cause of death by 2030.

Market Dynamics:

Driver:

Increasing sales of electric vehicles

The surge in electric vehicle sales is propelling growth in the. As more electric vehicle hit the roads, the demand for alert systems, which ensure pedestrian safety by emitting sound in low-speed scenarios, skyrockets. Manufacturers are innovating to meet this demand, developing advanced, customizable alert systems that align with diverse designs. This upward trend underscores the pivotal role of acoustic alert systems in enhancing safety and supporting the proliferation of electric vehicles globally.

Restraint:

Government regulations

Government regulations in the market mandate sound emission for electric vehicles to ensure pedestrian safety. Guidelines outline minimum sound levels during low-speed operations to alert pedestrians of vehicle presence. Compliance involves specific frequency, volume, and activation criteria, aiming to mitigate potential risks posed by silent electric vehicles. Manufacturers must adhere to these regulations, fostering standardized safety measures across the market.

Opportunity:

Increased emphasis on commuter safety

The market is witnessing a surge in focus on commuter safety. This heightened emphasis stems from the critical need to enhance pedestrian and cyclist awareness, especially in urban environments. Innovations in sound-based warning technologies are advancing to mitigate risks associated with quiet electric vehicles, aiming to create intuitive and non-intrusive alerts. This market shift reflects a commitment to safeguarding pedestrians, cyclists, and the general public while promoting the adoption of quieter, eco-friendly transportation solutions.

Threat:

Standardization of sounds emitted

The acoustic vehicle alert system market aims for standardized audible warnings ensuring safety and consistency across vehicles. Industry leaders collaborate on sound parameters encompassing frequency, duration, and volume. Adherence to these standards promotes universal recognition and minimizes confusion for pedestrians and cyclists. Harmonizing these alerts across manufacturers fosters a safer environment, fostering public trust in the efficacy of these warning systems.

Covid-19 Impact:

The COVID-19 pandemic initially slowed the growth of the market due to disrupted supply chains and reduced vehicle production. However, with a heightened focus on safety and increasing regulatory requirements globally, the AVAS market is rebounding. Demand for electric vehicles, coupled with a rising emphasis on pedestrian safety, is driving market growth. Manufacturers are innovating to meet evolving safety standards, indicating a steady upward trend for AVAS despite the pandemic's initial setbacks.

The passenger cars segment is expected to be the largest during the forecast period

The passenger cars segment is expected to be the largest during the forecast period. Acoustic vehicle alert systems for passenger cars are pivotal for pedestrian safety, emitting sound signals to alert nearby individuals of an approaching vehicle. These systems, mandated in electric and hybrid vehicles, utilize audible cues to warn pedestrians of the vehicle's presence, enhancing safety in low-speed environments.

The infotainment segment is expected to have the highest CAGR during the forecast period

The infotainment segment is expected to have the highest CAGR during the forecast period. The acoustic vehicle alert system market incorporates infotainment features to enhance safety through auditory cues. This integration of informative and entertaining elements aims to alert pedestrians and cyclists to the presence of electric and hybrid vehicles. These systems use sound to communicate vehicle movements, ensuring road safety while providing an engaging and informative experience for both users and bystanders.

Region with largest share:

North America is projected to hold the largest market share during the forecast period owing to rising demand for electric vehicles and stringent safety regulations. Increasing electric vehicle adoption and the need for pedestrian safety measures fuels the market expansion. Major players, including automobile manufacturers and tech firms, compete to innovate and capture market share, fostering a competitive landscape poised for continual growth and technological evolution.

Region with highest CAGR:

Asia Pacific is projected to hold the highest CAGR over the forecast period owing to stringent safety regulations and increasing electric vehicle adoption. The demand for pedestrian safety features propels market expansion, with countries witnessing significant growth. Technological advancements and collaborations between automakers and tech firms further enhance market prospects, fostering a competitive landscape for innovative solutions in the region.

Key players in the market

Some of the key players in Acoustic Vehicle Alerting System market include Volkswagen, Toyota Kirloskar Motor, Continental AG, DENSO Corporation, Honda Cars, BorgWarner Inc., General Motors, Nissan Motor Co., Tesla, American Honda Motor Co., AB Volvo, Brigade Electronics Group PLC, Mercedes-Benz Group AG, STMicroelectronics, Texas Instruments, Kendrion N.V., Daimler AG and Maruti Suzuki.

Key Developments:

In July 2023, Maruti Suzuki India Limited, a subsidiary of Suzuki Motor Corporation, launched the Maruti Grand Vitara hybrid variant with AVAS to enhance pedestrian safety.

In April 2022, Honda Cars India Limited, a subsidiary of Honda Motor Co. Ltd., launched an electric hybrid vehicle named City e:HEV in India.

Vehicle Types Covered:
• Passenger Cars
• Two-Wheelers
• Commercial Vehicles
• Other Vehicle Types

Propulsions Covered:
• Plug-in Hybrid Electric Vehicles
• Battery Electric Vehicle
• Hybrid Electric Vehicle
• Other Propulsions

Mounting Positions Covered:
• Separated
• Integrated

Applications Covered:
• Infotainment
• Body Electronics
• Safety Systems
• Powertrain Electronics
• Other Applications

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements