Acoustic Vehicle Alerting System Market Size to Reach $4.42 Billion by 2029 | Growth at 17% CAGR Forecast

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What is the Projected Market Size of the Acoustic Vehicle Alerting System Industry?
Over recent years, the market for the acoustic vehicle alerting systems has experienced a swift expansion. In 2024, it was valued at $2.01 billion, projected to rise to $2.36 billion in 2025, showing a compound annual growth rate (CAGR) of 17.5%. The impressive growth during the historical phase can be credited to numerous factors such as regulatory mandates aimed at pedestrian safety, rapid urbanization causing increasing traffic density, rising concerns over noise pollution, the incorporation of directional sound technology for accurate pedestrian warnings, and the increasing recognition of the safety requirements of visually impaired pedestrians.

What Will Be the Size of the Acoustic Vehicle Alerting System Market by 2029?
The market for acoustic vehicle alerting systems is anticipated to expand significantly in the coming years, reaching a valuation of $4.42 billion in 2029, with a compound annual growth rate (CAGR) of 17.0%. This predicted growth during the forecast period is due to factors such as the incorporation with autonomous vehicle technologies, customer desires for personalized AVAS noises, the development of smart city structures that bolster AVAS, cooperation between vehicle manufacturers and the audio sector for improved AVAS solutions, and more rigorous international safety regulations promoting AVAS usage. The forecast period also sees several major trends like innovations in electric vehicle technologies, the creation of AI-powered AVAS providing context-aware notifications, AVAS being integrated with vehicle-to-everything (V2X) communication, a shift towards interactive AVAS systems offering pedestrian feedback systems, and the standardization of AVAS guidelines for achieving interoperability and safety.

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What Are the Key Drivers Accelerating Growth in the Acoustic Vehicle Alerting System Market?
The escalating sales of electric vehicles are set to fuel the expansion of the acoustic vehicle alerting system market. An electric vehicle (EV), which is powered by an electric motor and utilizes energy stored in batteries, provides a greener option compared to vehicles powered by traditional internal combustion engines. The growing environmental consciousness, government incentives, and technological advancements are pushing the demand for EVs, making them more feasible and cost-effective. Acoustic vehicle alerting systems (AVAS) are integrated into electric vehicles to produce synthetic noise, informing pedestrians and cyclists about the vehicle's vicinity. For example, the International Energy Agency, an autonomous intergovernmental organization based in France, reported in July 2023 that over 2.3 million electric cars were sold in the initial quarter of the year, showing a 25% surge from the same timeframe the previous year. By the close of 2023, sales figures are projected to hit 14 million, marking a 35% yearly rise, with the pace of growth picking up in the latter half of the year. Hence, the rising sales of electric vehicles are catalyzing the expansion of the acoustic vehicle alerting system market.

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How Is the Acoustic Vehicle Alerting System Market Segmented by Type, Application, and Region?
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), After market

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

What Are the Key Trends Driving Growth in the Acoustic Vehicle Alerting System Market?
Key players in the acoustic vehicle alerting system (AVAS) industry are emphasizing technological improvements, specifically in hardware-based configurations, with the goal of optimizing the effectiveness and dependability of their alert systems. Through this method, which includes a warning sound generator, fader, and equalizer, the need for software verification is removed. This strategy not only ensures consistent performance but also simplifies the system structure by utilizing only physical elements. For example, Japan's LAPIS Technology Co. Ltd., a leading electronic components manufacturer, launched the ML22120xx series in January 2024. These series are the first-ever dedicated speech synthesis integrated circuits (ICs) for AVAS in electric vehicles (xEVs) in the industry. They adhere to mandatory regulations that dictate AVAS to continuously emit sounds at slow speeds (below 30 km/h or 18.6 mph) to warn pedestrians. The features of the ML22120xx series include a warning sound generator, fader, and equalizer that remove the need for complex software verification, thereby reducing the time spent on development. Furthermore, they have a fault detection feature that serves to increase vehicle reliability.

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Who Are the Leading Companies Driving Growth 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.

Which Is the Leading Region in the Global Acoustic Vehicle Alerting System Market?
Asia-Pacific was the largest region in the acoustic vehicle alerting system market in 2024. 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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