Acoustic Vehicle Alerting System Market Share, Demand, Trends, Growth Drivers, Revenue, Challenges, Opportunities and Future Strategies Till 2033: SPER Market Research

Acoustic vehicle alerting systems (AVAS) are safety measures found in electric and hybrid cars that make noise when they drive at slow speeds to let other drivers and pedestrians know that they are there. Usually synthetic, the sounds are designed to resemble the sound of a traditional engine to improve safety, especially for pedestrians who are blind or visually handicapped.

According to SPER Market Research, ‘Global 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’ states that the Global Acoustic Vehicle Alerting System Market is estimated to reach USD 51.62 billion by 2033 with a CAGR of 37.31%.

Drivers:

Adoption of Acoustic Vehicle Alerting Systems due to the increasing number of electric vehicles –As the global use of electric vehicles grows, there is a greater demand for AVAS to limit dangers linked with their quiet operation while assuring pedestrian safety. With a varied range of electric vehicles on the road, manufacturers must incorporate AVAS into their designs to comply with regulations and improve overall safety standards. This trend drives up demand for AVAS technology, fuelling market growth as automakers prioritise implementing these systems into their electric vehicle lineup.

Government regulations and safety measures are driving the expansion of acoustic vehicle alerting systems –Government rules requiring automakers to incorporate AVAS onto their vehicles in order to reduce pedestrian threats posed by quiet electric and hybrid automobiles. As a result, the AVAS industry is rapidly expanding, with manufacturers developing to provide compliant and effective alerting systems. This legislative push promotes market expansion and emphasises the necessity of proactive safety measures in the automotive sector, hence pushing additional research and development in AVAS technologies.

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Restraints:

Acoustic vehicle alerting systems’ growth is hindered by cost constraints –Vehicle manufacturers and consumers may be discouraged by the added cost of AVAS integration, particularly in markets where consumers are cost-conscious. AVAS systems’ high production costs could raise car prices, which would slow the rate of adoption. The very small market for AVAS technology may also make it difficult for manufacturers to achieve economies of scale in order to reduce costs. Therefore, financial limitations might make it more difficult for AVAS systems to be widely installed in cars, which would impede market expansion.

The market for Acoustic Vehicle Alerting Systems has been affected by the Covid-19 epidemic in a variety of ways. The automotive industry saw some disruptions due to lockdowns and supply chain problems, but overall, the AVAS market was not adversely affected. Due to the pandemic’s emphasis on the need for environmentally friendly transportation, demand in electric and hybrid cars has grown. As a result, there is a greater need for AVAS systems since consumers and governments alike are concerned about environmental sustainability and safety.

The Asia-Pacific region dominates the market, owing largely to government programs targeted at increasing awareness of the benefits and acceptance of electric vehicles. With increased demand for electric vehicles in the region, fuelled by environmental concerns and technical improvements, the market for acoustic vehicle alerting systems is set to grow even more. Major players in the market are Brigade Electronics, Continental AG, Continental Engineering Services GmbH, Delphi, Mando-Hella Electronics, and Others.

Key Target Audience: