Acoustic Vehicle Alerting System Market Overview:
Electric vehicles are equipped with acoustic vehicle alerting systems (AVAS). An electric vehicle (EV) usually emits less noise than an internal combustion engine (ICE) vehicle. Because of this, pedestrians, especially people with disabilities, may have a difficult time with EVs due to their low noise levels. Therefore, AVAS is fitted into silent vehicles like electric and hybrid vehicles to alert pedestrians to their presence. Vibrations generated by loudspeakers or actuators according to vehicle parameters such as velocity, gas pedal position, and gear are used to create artificial sounds. In many countries, AVAS are also made mandatory to improve safety. By July 2019, all electric and hybrid vehicles will be required to provide sound warnings to pedestrians when traveling below 12 mph with AVAS. It will therefore increase the safety of traveling in electric vehicles.
It is expected that several countries will replace their existing fuel-based bus fleet with electric buses. To ensure the safety of other commuters on the road, an acoustic vehicle alerting system will be installed in a commercial vehicle as per regulations. Electric buses will replace fossil fuel-based public transport fleets during the forecast period, driving growth in electric commercial vehicles. Electric commercial vehicles are also expected to grow due to the growth of e-commerce, logistics, and shared mobility.
As a result of the COVID-19 pandemic, travel bans and business shutdowns have affected the global supply chain for AVAS products. Government restrictions and the lockdown have impacted the production of electric vehicles. AVAS hardware production has also been hindered by the unavailability of labour because of social distancing norms and other restrictions. As a result of COVID-19, electric vehicle sales increased compared with the previous year. It is expected that the demand for AVAS will rise again after the pandemic, since the market for electric vehicles is also growing.
With the advent of IoT and AI, the automotive industry is bound to showcase significant growth in the upcoming years. The rise in the manufacturing of autonomous vehicles, the customers obtaining predictive maintenance data, understanding traffic dynamics are some of the factors that have resulted in the significant growth of the automotive industry. Furthermore, many car dealers are using latest technologies like augmented reality which enhances the buying experience of consumers. Major car manufacturers are slowly adopting Acoustic Vehicle Alerting System owing to the air pollution caused by gasoline and diesel vehicles which has opened new opportunities for emerging players to establish their position in the market.
The Acoustic Vehicle Alerting System Market assessment is performed taking various factors in consideration, like for instance, the business expansion policies of key players, competitive analysis of the progress of new entrants and emerging players, the revenue, financial and opportunity analysis of market players. The Acoustic Vehicle Alerting System Market is also evaluated based on the regional segmentation, product type or technique, end user spectrum, etc. This research will be conducted with the implementation of latest market research methodologies which shall help organizations comprehend the overall market scenario and strategize accordingly.
Major players included in the Acoustic Vehicle Alerting System Market:
• Harman
• Delphi
• Mando-Hella Electronics Corp
• Brigade Electronics
• Kendrion
• Kufatec GmbH & Co. KG
• Soundracer AB
• Nissan Motor Co. Ltd.
• Daimler
• Tesla Motors
• Texas Instruments
• Continental
• General Motors
• Fisker
• Mentor
(Note: The list of the major players will be updated with the latest market scenario and trends)
Acoustic Vehicle Alerting System Market Segmentation:
By Propulsion
• Battery Electric Vehicle (BEV)
• Plug-In Hybrid Electric Vehicle (PHEV)
• Fuel Cell Electric Vehicle (FCEV)
By Vehicle Type
• Commercial Vehicle
• Passenger Car
By Electric Two-Wheeler
• E-Scooter/Moped
• E-Motorcycle
By Mounting Position
• Separated
• Integrated
By Sales Channel
• OEM
• Aftermarket
By Region
• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa
Acoustic Vehicle Alerting System Market Competitive Analysis:
• Tier-1 Players
• Tier-2 Players
• Emerging Players
• New Entrants
Future Market Analytics Focus Points:
• SWOT Analysis
• Key Market Trends
• Key Data -Points Affecting Market Growth
• Revenue and Forecast Analysis
• Growth Opportunities For New Entrants and Emerging Players
• Key Player and Market Growth Matrix
Objectives of the Study:
• To provide a comprehensive analysis on the Acoustic Vehicle Alerting System Market by propulsion, by vehicle type, by electric two-wheeler, by mounting position, by sales channel and by region
• To cater extensive insights on factors influencing the market growth (drivers, restraints, industry-specific restraints, business expansion opportunities)
• To anticipate and analyse the market size expansion in key regions- North America, Europe, Asia Pacific, Latin America and Middle East and Africa
• To record and evaluate competitive landscape mapping- strategic alliances and mergers, technological advancements and product launches, revenue and financial analysis of key market players
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