Acoustic Vehicle Alerting System Global Market Report 2024 - By Growth, Size, Share, Demand, Outlook By 2033

"The new report published by The Business Research Company, titled Acoustic Vehicle Alerting System Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033, delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, the acoustic vehicle alerting system market size has grown rapidly in recent years. It will grow from $1.69 billion in 2023 to $2.01 billion in 2024 at a compound annual growth rate (CAGR) of 18.5%. The acoustic vehicle alerting system market size is expected to see rapid growth in the next few years. It will grow to $3.97 billion in 2028 at a compound annual growth rate (CAGR) of 18.6%.

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Rising Electric Vehicle Sales Boost Acoustic Vehicle Alerting System (AVAS) Market
Increasing electric vehicle sales are expected to propel the growth of the acoustic vehicle alerting system market going forward. An electric vehicle (EV) is a car powered by an electric motor using energy stored in batteries, offering a cleaner alternative to traditional internal combustion engine vehicles. EV demand is rising due to increasing environmental awareness, government incentives, and advancements in technology, making them more practical and affordable. Acoustic vehicle alerting systems (AVAS) are utilized in electric vehicles to generate artificial sound to alert pedestrians and cyclists to the vehicle's presence. For instance, in July 2023, according to the International Energy Agency, a France-based autonomous intergovernmental organization, over 2.3 million electric cars were sold in the first quarter of that year, a 25% increase from the same period last year. By the end of 2023, sales are expected to reach 14 million, representing a 35% year-on-year increase, with growth accelerating in the second half of the year. Therefore, increasing electric vehicle sales are driving the growth of the acoustic vehicle alerting system market.

Development Of Hardware-Based Solutions In Acoustic Vehicle Alerting Systems
Major companies operating in the acoustic vehicle alerting system (AVAS) market are focusing on technological advancements such as hardware-based configuration to enhance the effectiveness and reliability of the alerting systems. A hardware-based configuration incorporating a warning sound generator, fader, and equalizer eliminates the need for software validation. This approach ensures reliable performance and simplifies the system design by relying solely on physical components. For instance, in January 2024, LAPIS Technology Co. Ltd., a Japan-based electronic parts manufacturer, introduced the ML22120xx series. These are the industry's first dedicated speech synthesis integrated circuits (ICs) for AVAS in electric vehicles (xEVs). These ICs meet regulations that require AVAS to emit continuous sounds at low speeds (under 30 km/h or 18.6 mph) to alert pedestrians. The ML22120xx series includes a warning sound generator, fader, and equalizer, eliminating the need for complex software validation and reducing development time. Additionally, they feature a fault detection function to enhance vehicle reliability.

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

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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.Ş., Ardent-uk, luis technologies, Grewus GmbH, TH Köln, Seger Ses ve Elektrikli Gereçler San. A.Ş.

Contents of the report:
1. Executive Summary
2. Acoustic Vehicle Alerting System Market Report Structure
3. Acoustic Vehicle Alerting System Market Trends And Strategies
4. Acoustic Vehicle Alerting System Market - Macro Economic Scenario
5. Acoustic Vehicle Alerting System Market Size And Growth
…..
27. Acoustic Vehicle Alerting System Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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