Acoustic Vehicle Alerting Systems Market Business Growth Factors, Top Manufacturers, Revenue, Demand & Forecast to 2030
Research Reports
Apr 07, 2022
Acoustic Vehicle Alerting Systems Market Overview
According to Market Research Future (MRFR), The Global Acoustic Vehicle Alerting Systems Market is estimated to witness a CAGR of 12% from (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. The low noise level of the EV could make it difficult for pedestrians, particularly the visually impaired population, to detect an approaching EV immersion in the flow of traffic due to the masking effect of ambient noise. 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.
The low commotion level of an EV could make it challenging for walkers, particularly for the outwardly impeded populace, to distinguish a coming EV submerge in the rush hour gridlock stream because of the covering impact given by the encompassing clamors
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Moreover, the expanding number of electric vehicles out and about builds the possible risk of quiet vehicles to people on foot, cyclists, and the geriatric public.
The development of the worldwide acoustic vehicle alerting systems market can be principally be credited to the tough guidelines commanded by the states across the globe to control the chance of mishaps caused because of the low sound of electric vehicles. For example, the European Union has another mandate requiring all new electric and half-breed vehicles to give a sound admonition to people on foot while going at speeds under 12 mph by 2021.
Acoustic Vehicle Alerting Systems Market Key Players
The key participants identified by MRFR in the global acoustic vehicle alerting systems market are Delphi Technologies (UK), Denso Corporation (Japan), HARMAN International (US), Daimler AG (Germany), Volkswagen AG (Germany), BMW AG (Germany), Nissan Motor Corporation (Japan), MANDO-HELLA Electronics Corp. (South Korea), Honda Motor Co., Ltd (Japan), and KUFATEC GmbH & Co. KG (Germany).
Acoustic Vehicle Alerting Systems Market Dynamics
The growth of the global market for acoustic vehicle alerting systems 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.
Nevertheless, the reliability and longevity of AVAS in electric vehicles are expected to impede the growth of the global market for acoustic vehicle alerting systems over the forecast period. 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. 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. This further increases the penetration of electric vehicles on the road, leading to the global market’s growth for acoustic vehicle alerting systems.
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Acoustic Vehicle Alerting Systems Market Segmentation
The automotive acoustic engineering services market has been considered for offering, application, software as well as vehicle type.
Offering-wise categories mentioned in the report are physical as well as virtual.
The applications covered in the study include powertrain, chassis, interior and drivetrain.
The software types included in the research are simulation, vibration, signal analysis and calibration.
The vehicles listed are light commercial vehicle or LCV, passenger cars, as well as heavy commercial vehicle or HCV.
Regional Insight
The primary markets for automotive acoustic engineering services are North America, Europe, APAC or Asia Pacific, and RoW or Rest of the World.
Europe can note a top-notch growth in the global market and also claim the largest share on account of the strong relationship between regional players and leading automotive OEMs as well as tier-1 suppliers. Moreover, premium vehicle manufacturers like BMW, Volkswagen, Mercedes-Benz, Porsche and Volvo are highly focused on acoustic engineering of their vehicles, which works in favor of the regional market to a large extent.
APAC can quickly emerge as a formidable market, thanks to the increasing automotive production in India and China coupled with the strict government regulations pertaining to noise, emissions and safety. The market growth is also induced by the soaring need to bring down the research and development (R&D) costs.
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