Acoustic Vehicle Alerting System Market: Major Trends Reshaping the Future of the Industry

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What Will the Acoustic Vehicle Alerting System Industry Market Size Be by 2025?
The market for acoustic vehicle alerting systems has experienced significant expansion lately. The industry, valued at $2.01 billion in 2024, is predicted to reach $2.38 billion in 2025, representing a compound annual growth rate (CAGR) of 18.9%. This expansion during the historic period can be attributed to several factors. These include regulatory requirements for pedestrian safety, a rise in urbanization resulting in increased traffic density, growing concerns about environmental noise pollution, the adoption of directional sound technology for accurate pedestrian alerts, and enhanced awareness about the safety needs of visually impaired pedestrians.

What's the Long-Term Growth Forecast for the Acoustic Vehicle Alerting System Market Size Through 2029?
It is anticipated that the market size for acoustic vehicle alerting systems (AVAS) will experience sizable growth in the coming years, reaching a valuation of $4.71 billion in 2029 with a compound annual growth rate (CAGR) of 18.5%. This surge is expected due to the system's integration with autonomous vehicles, increased consumer desire for tailored AVAS sounds, the advent of smart city infrastructure supporting AVAS, partnerships between auto manufacturers and the audio industry for superior AVAS solutions, and stricter worldwide safety regulations encouraging AVAS usage. The forecasted period is also projected to see several major trends, including advancements in electric vehicle technology, the creation of AI-guided AVAS for context-sensitive alerts, the amalgamation of AVAS with vehicle-to-everything (V2X) communication, progression towards interactive AVAS systems equipped with pedestrian response features, and the uniformity of AVAS protocols for safety and interoperability.

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What Are the Key Growth Drivers Fueling the Acoustic Vehicle Alerting System Market Expansion?
The surge in electric vehicle purchases is predicted to stimulate the expansion of the acoustic vehicle alerting system market in the future. An electric vehicle (EV) operates on an electric motor that utilizes power from batteries, providing a more eco-friendly substitute for conventional internal combustion engine vehicles. The attraction towards EVs is on the rise due to heightened environmental consciousness, governmental aids, and technological improvements, making them more practical and financially viable. Acoustic vehicle alerting systems (AVAS) are deployed in EVs to produce a synthetic sound to signal their presence to pedestrians and cyclists. For example, the International Energy Agency, an autonomous organization based in France, reported that over 2.3 million EVs were purchased in the first three months of 2023, signifying a 25% surge from the corresponding time frame last year. By the closure of 2023, sales are predicted to hit 14 million, indicating a 35% yearly increment, with the rate picking up in the second part of the year. Consequently, the rising sales of electric vehicles are propelling the expansion of the acoustic vehicle alerting system market.

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What Are the Key Trends Driving Acoustic Vehicle Alerting System Market Growth?
Large corporations involved in the acoustic vehicle alerting system (AVAS) sector are making technological breakthroughs such as the use of hardware-based configuration to improve the efficacy and dependability of their alert systems. A configuration based on hardware, such as a warning sound generator, fader, and equalizer, negates software validation. This strategy offers a reliable performance and simplifies system design by merely depending on physical elements. For example, LAPIS Technology Co. Ltd., a Japanese electronics manufacturer, unveiled the ML22120xx series in January 2024. These are the first industry-specific speech synthesis integrated circuits (ICs) for AVAS in electric vehicles (xEVs). These ICs conform to rules stipulating that AVAS must consistently emit sounds at slow speeds (below 30 km/h or 18.6 mph) to warn pedestrians. The ML22120xx series comes complete with a warning sound generator, fader, and equalizer, doing away with the necessity for intricate software validation and shortening development time. They also have a fault detection function intended to boost the reliability of the vehicle.

How Is the Acoustic Vehicle Alerting System Market Segmented?
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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Which Companies Are Leading the Charge in Acoustic Vehicle Alerting System Market Innovation?
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.

Which Regions Are Leading the Global Acoustic Vehicle Alerting System Market in Revenue?
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.

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