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Global Acoustic Vehicle Alerting System Market to reach USD 14.82 billion by the end of 2030

Global Acoustic Vehicle Alerting System Market Size Study & Forecast, by Vehicle Type (Passenger cars, Commercial vehicles), by Propulsion type (BEV, PHEV, FCEV), by Mounting Position (Integrated, Separated), by Electric Two-wheelers (E-Scooter/Moped, E-Motorcycle), by Sales Channel (OEM, Aftermarket), and Regional Analysis, 2023-2030

Product Code: ALTAMC-69774244
Publish Date: 20-01-2024
Page: 200

Global Acoustic Vehicle Alerting System Market is valued at approximately USD 1.12 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 38.10% during the forecast period 2023-2030. Acoustic Vehicle Alerting Systems (AVAS) serve as safety mechanisms for Electric Vehicles (EVs). Given the inherently lower noise levels of EVs compared to traditional Internal Combustion Engine (ICE) vehicles, especially at low speeds, pedestrians, particularly those with impairments, is challenging to detect their presence. AVAS addresses this concern by incorporating artificial sounds produced through loudspeakers or actuators, taking into account various vehicle parameters such as velocity, gas pedal position, and gear. These sounds serve as audible warnings to pedestrians about the approaching silent vehicle. Recognizing the importance of pedestrian safety, many countries, including the European Union, have mandated the implementation of AVAS in all EVs and hybrid vehicles, reinforcing the safety standards for electric vehicle operation, especially at speeds below 12mph. This ensures enhanced safety for both pedestrians and electric vehicle users. The rising urbanization and congestion in urban areas, imposition of pedestrian safety regulations, as well as growing environmental concerns and noise pollution reduction are the most prominent factors that are propelling the market demand across the globe.

Additionally, the increasing adoption of Electric Vehicles (EVs) and hybrid vehicles globally, driven by environmental concerns and government incentives, fuels the demand for AVAS as a safety feature. According to Statista, in 2021, there were nearly 16.9 million electric vehicles in operation around the world. Also, in 2022, the electric vehicle in operation reached approximately 25.9 million units globally, with all-electric vehicles comprising roughly 69.5% of the total plug-in electric vehicle market. Moreover, the growing trend of shared mobility, as well as the rising focus on enhanced vehicle-to-pedestrian communication presents various lucrative opportunities over the forecast years. However, the lack of standardization regarding regulations in many regions and government regulations regarding AVAS is hindering the market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Acoustic Vehicle Alerting System Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific dominated the market in 2022 owing to the swift commercialization of electric vehicles, particularly in China, India, and Japan. The rapid commercialization of electric vehicles, as well as the government’s strong support for adopting electric vehicles in the automotive and transportation industry. Whereas, Europe is expected to grow at a significant CAGR over the forecast years. The surge in demand for performance electric two-wheelers, advancement in EV sound technology and increasing government regulations regarding road safety are significantly propelling the market demand across the region.

Major market players included in this report are:
HELLA GmbH & Co. KGaA (Germany)
CONTINENTAL AG (Germany)
Siemens (U.S.)
STMicroelectronics (China)
THOR Middle East LLC (Dubai)
Brigade Electronics Group Plc (U.K.)
SEGER AS (Türkiye)
Kendrion N.V. (Netherlands)
Texas Instruments Incorporated (U.S.)
American Honda Motor Co., Inc. (U.S.)

Recent Developments in the Market:
Ø In July 2023, Maruti Suzuki India Limited launched the ‘Acoustic Vehicle Alerting System’ for its Intelligent Electric Hybrid models, including the premium SUV, the Grand Vitara. This novel technology is designed to improve safety for both drivers and pedestrians by delivering timely alerts regarding the vehicle’s presence. Maruti Suzuki showed its commitment to innovative solutions that advance road safety and contribute to sustainable mobility.
Ø In September 2022, BlackBerry Limited and Shanghai Dayin Technology Co., Ltd. unveiled their collaboration in developing the “Yin” 2.0 app, set to be integrated into Great Wall Motors’ intelligent cockpit. Powered by BlackBerry QNX acoustics technology, particularly the Software-Defined Audio Architecture (SDAA), the app offer a variety of unique sound applications. These features encompass an acoustic vehicle alert system, engine sound enhancements, and dynamic chimes, all aimed at elevating the auditory experience for both vehicle occupants and those in the surrounding environment.
Ø In May 2021, Volvo Trucks unveiled a specialized acoustic alert system with unique sounds tailored for electric truck models. Developed by Volvo, this alert system is designed to improve safety by notifying pedestrians, cyclists, and other road users about the presence of electric trucks, which operate quietly. The distinct sounds serve to mitigate potential risks by enhancing awareness of the vehicle’s presence on the road.

Global Acoustic Vehicle Alerting System Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Vehicle Type, Propulsion type, Mounting Position, Electric Two-wheelers, Sales Channel, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Vehicle Type:
Passenger cars
Commercial vehicles

By Propulsion type:
BEV
PHEV
FCEV

By Mounting Position:
Integrated
Separated

By Electric Two-wheelers:
E-Scooter/Moped
E-Motorcycle

By Sales Channel:
OEM
Aftermarket

By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
1.2.1. Acoustic Vehicle Alerting System Market, by Region, 2020-2030 (USD Billion)
1.2.2. Acoustic Vehicle Alerting System Market, by Vehicle Type, 2020-2030 (USD Billion)
1.2.3. Acoustic Vehicle Alerting System Market, by Propulsion Type, 2020-2030 (USD Billion)
1.2.4. Acoustic Vehicle Alerting System Market, by Mounting Position, 2020-2030 (USD Billion)
1.2.5. Acoustic Vehicle Alerting System Market, by Electric Two-wheelers, 2020-2030 (USD Billion)
1.2.6. Acoustic Vehicle Alerting System Market, by Sales Channel, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Acoustic Vehicle Alerting System Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Acoustic Vehicle Alerting System Market Dynamics
3.1. Acoustic Vehicle Alerting System Market Impact Analysis (2020-2030)
3.1.1. Market Drivers
3.1.1.1. Rapid imposition of pedestrian safety regulations
3.1.1.2. Rising adoption of electric vehicles (EVs) and hybrid vehicles
3.1.2. Market Challenges
3.1.2.1. Lack of standardization regarding regulations in many regions
3.1.2.2. Government Regulations Regarding AVAS
3.1.3. Market Opportunities
3.1.3.1. Growing trend of shared mobility
3.1.3.2. Rising focus on enhanced vehicle-to-pedestrian communication
Chapter 4. Global Acoustic Vehicle Alerting System Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Acoustic Vehicle Alerting System Market, by Vehicle Type
5.1. Market Snapshot
5.2. Global Acoustic Vehicle Alerting System Market by Vehicle Type, Performance – Potential Analysis
5.3. Global Acoustic Vehicle Alerting System Market Estimates & Forecasts by Vehicle Type 2020-2030 (USD Billion)
5.4. Acoustic Vehicle Alerting System Market, Sub Segment Analysis
5.4.1. Passenger cars
5.4.2. Commercial vehicles
Chapter 6. Global Acoustic Vehicle Alerting System Market, by Propulsion type
6.1. Market Snapshot
6.2. Global Acoustic Vehicle Alerting System Market by Propulsion type, Performance – Potential Analysis
6.3. Global Acoustic Vehicle Alerting System Market Estimates & Forecasts by Propulsion type 2020-2030 (USD Billion)
6.4. Acoustic Vehicle Alerting System Market, Sub Segment Analysis
6.4.1. BEV
6.4.2. PHEV
6.4.3. FCEV
Chapter 7. Global Acoustic Vehicle Alerting System Market, by Mounting Position
7.1. Market Snapshot
7.2. Global Acoustic Vehicle Alerting System Market by Mounting Position, Performance – Potential Analysis
7.3. Global Acoustic Vehicle Alerting System Market Estimates & Forecasts by Mounting Position 2020-2030 (USD Billion)
7.4. Acoustic Vehicle Alerting System Market, Sub Segment Analysis
7.4.1. Integrated
7.4.2. Separated
Chapter 8. Global Acoustic Vehicle Alerting System Market, by Electric Two-wheelers
8.1. Market Snapshot
8.2. Global Acoustic Vehicle Alerting System Market by Electric Two-wheelers, Performance – Potential Analysis
8.3. Global Acoustic Vehicle Alerting System Market Estimates & Forecasts by Electric Two-wheelers 2020-2030 (USD Billion)
8.4. Acoustic Vehicle Alerting System Market, Sub Segment Analysis
8.4.1. E-Scooter/Moped
8.4.2. E-Motorcycle
Chapter 9. Acoustic Vehicle Alerting System Market, by Sales Channel
9.1. Market Snapshot
9.2. Global Acoustic Vehicle Alerting System Market by Sales Channel, Performance – Potential Analysis
9.3. Global Acoustic Vehicle Alerting System Market Estimates & Forecasts by Sales Channel 2020-2030 (USD Billion)
9.4. Acoustic Vehicle Alerting System Market, Sub Segment Analysis
9.4.1. OEM
9.4.2. Aftermarket
Chapter 10. Global Acoustic Vehicle Alerting System Market, Regional Analysis
10.1. Top Leading Countries
10.2. Top Emerging Countries
10.3. Acoustic Vehicle Alerting System Market, Regional Market Snapshot
10.4. North America Acoustic Vehicle Alerting System Market
10.4.1. U.S. Acoustic Vehicle Alerting System Market
10.4.1.1. Vehicle Type breakdown estimates & forecasts, 2020-2030
10.4.1.2. Propulsion type breakdown estimates & forecasts, 2020-2030
10.4.1.3. Mounting Position breakdown estimates & forecasts, 2020-2030
10.4.1.4. Electric Two-wheelers breakdown estimates & forecasts, 2020-2030
10.4.1.5. Sales Channel breakdown estimates & forecasts, 2020-2030
10.4.2. Canada Acoustic Vehicle Alerting System Market
10.5. Europe Acoustic Vehicle Alerting System Market Snapshot
10.5.1. U.K. Acoustic Vehicle Alerting System Market
10.5.2. Germany Acoustic Vehicle Alerting System Market
10.5.3. France Acoustic Vehicle Alerting System Market
10.5.4. Spain Acoustic Vehicle Alerting System Market
10.5.5. Italy Acoustic Vehicle Alerting System Market
10.5.6. Rest of Europe Acoustic Vehicle Alerting System Market
10.6. Asia-Pacific Acoustic Vehicle Alerting System Market Snapshot
10.6.1. China Acoustic Vehicle Alerting System Market
10.6.2. India Acoustic Vehicle Alerting System Market
10.6.3. Japan Acoustic Vehicle Alerting System Market
10.6.4. Australia Acoustic Vehicle Alerting System Market
10.6.5. South Korea Acoustic Vehicle Alerting System Market
10.6.6. Rest of Asia Pacific Acoustic Vehicle Alerting System Market
10.7. Latin America Acoustic Vehicle Alerting System Market Snapshot
10.7.1. Brazil Acoustic Vehicle Alerting System Market
10.7.2. Mexico Acoustic Vehicle Alerting System Market
10.8. Middle East & Africa Acoustic Vehicle Alerting System Market
10.8.1. Saudi Arabia Acoustic Vehicle Alerting System Market
10.8.2. South Africa Acoustic Vehicle Alerting System Market
10.8.3. Rest of Middle East & Africa Acoustic Vehicle Alerting System Market

Chapter 11. Competitive Intelligence
11.1. Key Company SWOT Analysis
11.1.1. Company 1
11.1.2. Company 2
11.1.3. Company 3
11.2. Top Market Strategies
11.3. Company Profiles
11.3.1. HELLA GmbH & Co. KGaA (Germany)
11.3.1.1. Key Information
11.3.1.2. Overview
11.3.1.3. Financial (Subject to Data Availability)
11.3.1.4. Product Summary
11.3.1.5. Recent Developments
11.3.2. CONTINENTAL AG (Germany)
11.3.3. Siemens (U.S.)
11.3.4. STMicroelectronics (China)
11.3.5. THOR Middle East LLC (Dubai)
11.3.6. Brigade Electronics Group Plc (U.K.)
11.3.7. SEGER AS (Türkiye)
11.3.8. Kendrion N.V. (Netherlands)
11.3.9. Texas Instruments Incorporated (U.S.)
11.3.10. American Honda Motor Co., Inc. (U.S.)
Chapter 12. Research Process
12.1. Research Process
12.1.1. Data Mining
12.1.2. Analysis
12.1.3. Market Estimation
12.1.4. Validation
12.1.5. Publishing
12.2. Research Attributes
12.3. Research Assumption

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