Acoustic Vehicle Alerting System Market 2019: An Overview To The Future Opportunities Over The Globe
The Acoustic Vehicle Alerting
System Market is projected to reach USD 5,615 million by 2027
from an estimated USD 425 million in 2019, growing at a CAGR of 38.1% during
the forecast period, driven by the installation of AVAS in passenger cars and
commercial vehicles. The growing sensitivity towards pedestrian safety is the primary
factor responsible for the expected growth in this market.
Electric vehicles, including BEVs, PHEVs, and FCEVs, are silent in operation because of the
absence of engine and other moving parts. Hence, EVs can be a potential threat
for traffic participants such as pedestrians and cyclists. OEMs worldwide are
investing in research & testing of different sound modules leading to continuous
advancements in AVAS. For instance, In March 2019,
Mercedes-AMG partnered with Linkin Park, the renowned music band, to create an artificial
sound for its electric cars.
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Of the different propulsion types of acoustic vehicle alerting
system, the BEV passenger car segment is estimated to be the largest and the
fastest-growing market. In BEV, acoustic
vehicle alerting systems play a significant role in BEVs as these vehicles are
powered by battery alone and emit very low noise while driving below 20km/h. BEVs
such as Jaguar I-PACE, Nissan Leaf have already installed AVAS to enhance
pedestrian safety.
The Asia Pacific acoustic vehicle alerting system market for
passenger car market is estimated to be the largest and fastest-growing market.
The geography comprises some of the fastest developing economies in the world,
such as China, Japan, and India.
Market experts predict that EVs are likely to account for around 50%
of the market share in China by 2025. The governments in these countries have
recognized the growth potential of electric vehicles and the advantages of
using them. Increasing demand for electric vehicles in Asia Pacific is anticipated to boost acoustic vehicle alerting
system which would ensure pedestrian safety as the emitted sound would enable
commuters to realize the presence of EVs. Leading EV manufacturer in China, BYD
also announced, all its electric and hybrid models manufactured from 2018 would
be installed with AVAS. All these factors will drive the acoustic vehicle
alerting system market in the Asia Pacific region.
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Critical Questions:
- Many
companies are operating in the acoustic vehicle alerting system market
space across the globe. Do you know who are the front leaders, and what
strategies have been adopted by them?
- Fast-paced
developments in acoustic vehicle alerting system such as Generation 1 and
Generation 2 system offered by leading manufacturers are expected to
change the dynamics of acoustic vehicle alerting system market. How will
this transform the overall market?
- Which leading
companies are working on the installation of AVAS in passenger car and on
commercial vehicles, and what organic and inorganic strategies have been
adopted by them?
- Analysis of
your competition that includes major players in the electric vehicle
charging ecosystem. The major players include Daimler (Germany), Delphi
(Ireland), Harman (US), and Mando-Hella Electronics (South Korea), among
others.
- Discussion on
your client’s imperatives based on our existing research on electric
vehicle market and its ecosystems.
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