What Is The Current and Historic Market Size Analysis Of The Acoustic Vehicle Alerting System Market?
The acoustic vehicle alerting system market has seen considerable growth due to a variety of factors.
• The acoustic vehicle alerting system market is expected to grow from $2.01 billion in 2024 to $2.38 billion in 2025, at a CAGR of 18.9%.
This growth is driven by regulatory mandates for pedestrian safety, increased urbanization, rising concerns about environmental noise, adoption of directional sound for precise alerts, and heightened awareness of safety for visually impaired pedestrians.
What are the Market Size and Expected Growth Rates for the Acoustic Vehicle Alerting System Template Market?
The acoustic vehicle alerting system market is expected to maintain its strong growth trajectory in upcoming years.
• The acoustic vehicle alerting system (AVAS) market is expected to grow rapidly, reaching $4.71 billion by 2029, at a CAGR of 18.5%.
Growth is driven by the integration of AVAS with autonomous vehicle systems, the demand for customizable AVAS sounds, smart city infrastructure, and stricter safety standards. Trends include advancements in electric vehicle technology, AI-driven AVAS, V2X communication integration, and interactive AVAS systems with pedestrian feedback.
Which Key Drivers Are Propelling The Acoustic Vehicle Alerting System Market's Growth?
The growth of the acoustic vehicle alerting system market is expected to be driven by rising electric vehicle (EV) sales. EVs, which use electric motors and batteries instead of internal combustion engines, are becoming more popular due to environmental concerns, government incentives, and technological advances. Acoustic vehicle alerting systems (AVAS) are used in EVs to produce artificial sound to alert pedestrians and cyclists to the vehicle's presence. For instance, the International Energy Agency reported that over 2.3 million electric cars were sold globally in the first quarter of 2023, a 25% increase from the previous year. The total number of electric vehicles sold is expected to reach 14 million by the end of 2023, marking a 35% year-on-year increase. This growth in EV sales is driving the demand for acoustic vehicle alerting systems.
What Are The Key Segments Within The Global Acoustic Vehicle Alerting System Market?
The acoustic vehicle alerting system market covered in this report is segmented –
1) By Vehicle Type: Passenger Car, Light Commercial Vehicle, Heavy Commercial Vehicle
2) By Propulsion Type: Battery Electric Vehicle (BEV), Plug-in Hybrid Electric Vehicles (PHEV), Fuel Cell Electric Vehicles (FCEV)
3) By Technology: Speaker-Based System, Exterior Sound Generation Devices, In-Cabin Sound Generation System
4) By Mounting Position: Integrated, Separated
5) By Sales Channel: Original Equipment Manufacturer (OEM), Aftermarket
Subsegments:
1) By Passenger Car: Electric Passenger Cars, Hybrid Passenger Cars, Autonomous Passenger Cars, Luxury Electric Vehicles (Evs), Compact And Mid-Size Electric Vehicles
2) By Light Commercial Vehicle: Electric Light Commercial Vehicles (Elcvs), Hybrid Light Commercial Vehicles, Delivery Vans, Small Utility Trucks, Electric Light Trucks
3) By Heavy Commercial Vehicle: Electric Heavy Trucks, Hybrid Heavy Trucks, Bus Fleets (Electric And Hybrid), Heavy Duty Trucks For Freight And Logistics, Construction And Mining Vehicles
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How Are New Trends Impacting The Size Of The Acoustic Vehicle Alerting System Market?
Companies in the acoustic vehicle alerting system (AVAS) market are concentrating on hardware-based configurations to improve the reliability and effectiveness of their alert systems. These configurations rely on physical components, such as a warning sound generator, fader, and equalizer, eliminating the need for software validation. For example, in January 2024, LAPIS Technology, a Japanese electronic parts manufacturer, launched the ML22120xx series, the first dedicated speech synthesis integrated circuits for AVAS in electric vehicles. These ICs are designed to meet the regulatory requirement that AVAS emit continuous sounds at low speeds (under 30 km/h), ensuring pedestrian safety.
Who Are the Key Players In The Acoustic Vehicle Alerting System Market?
Major companies operating in the acoustic vehicle alerting system market are:
• Siemens AG
• DENSO Corporation
• Continental AG
• Mitsubishi Electric Corporation
• Valeo Group
• Texas Instruments Incorporated
• STMicroelectronics N.V.
• Infineon Technologies AG
• Analog Devices Inc.
• Harman International Industries Inc.
• Autoliv Inc.
• Microchip Technology Incorporated
• Hella GmbH & Co. KGaA
• ROHM Co. Ltd.
• Brigade Electronics Inc
• ERA Elektronik A.S.
• Ardent-uk
• luis technologies
• Grewus GmbH
• TH Köln
• Seger Ses ve Elektrikli Gereçler San. A.S.
What Are The Regional Insights Into The Acoustic Vehicle Alerting System Market?
Asia-Pacific was the largest region in the acoustic vehicle alerting system market in 2023. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the acoustic vehicle alerting system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
