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Acoustic Vehicle Alerting System (AVAS) Market Size
- Report ID: GMI8170
- Published Date: Feb 2024
- Report Format: PDF
Acoustic Vehicle Alerting System Market Size
Acoustic Vehicle Alerting System (AVAS) Market size was valued at USD 2 billion in 2023 and is estimated to register a CAGR of over 12% between 2024 and 2032. The increased risk of pedestrian crashes and injuries is driving demand for the market. With quieter Electric Vehicles (EVs) posing a greater hazard to pedestrians, AVAS technology is becoming essential to enhance pedestrian safety. According to the National Safety Council, in 2021, pedestrians comprised approximately 17% of all traffic fatalities with variations observed across different age groups. Among individuals aged 35 years to 74 years, pedestrians accounted for 19% or more of traffic-related deaths.
Notably, the highest number of pedestrian fatalities occurred within the 55 to 64 age brackets, totaling 1,343 deaths. Conversely, the lowest number of pedestrian deaths in 2021 was recorded among children aged 5 years to 9 years with 50 fatalities. As regulations mandate the implementation of AVAS in EVs and automakers prioritize safety features, the market for AVAS systems is experiencing significant growth, fueled by the need to mitigate pedestrian-related accidents and injuries.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Acoustic Vehicle Alerting System Market Size in 2023: | USD 2 Billion |
| Forecast Period: | 2024 - 2032 |
| Forecast Period 2024 - 2032 CAGR: | 12% |
| 2032 Value Projection: | USD 5.7 Billion |
| Historical Data for: | 2018 - 2023 |
| No. of Pages: | 240 |
| Tables, Charts & Figures: | 360 |
| Segments covered: | Vehicle, Propulsion, Technology, Mounting Position, Sales Channel |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Regulatory requirements play a pivotal role in propelling the acoustic vehicle alerting system market. Governments worldwide are implementing legislation mandating the installation of acoustic vehicle alerting systems in electric vehicles to address safety concerns related to silent operation. For instance, the European Union's Regulation No 540/2014 requires all new types of electric & hybrid electric vehicles to be equipped with an AVAS. Such regulations create a significant market demand for AVAS technology, driving its adoption and growth in the automotive industry.
Furthermore, the growing integration of acoustic vehicle alerting systems within the broader driver alert system serves as a significant driver for the advancement and adoption of AVAS market. As safety concerns continue to drive regulatory mandates globally, the convergence of AVAS with existing driver alert systems presents a synergistic approach to enhancing overall vehicle safety. This integration not only addresses the need for pedestrian awareness in electric and hybrid vehicles but also contributes to the comprehensive safety ecosystem within automobiles.
The complexity of integrating AVAS technology into the existing vehicle platforms and systems presents a significant challenge for manufacturers. Retrofitting older vehicles with these systems while ensuring seamless integration without compromising vehicle performance requires meticulous engineering & design efforts. Additionally, integrating this technology into new vehicle designs necessitates coordination across various departments including engineering, design, and manufacturing to ensure compatibility with other onboard systems. Overcoming these integration challenges is crucial for the successful implementation and adoption of acoustic vehicle alerting system technology in the automotive industry.
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Acoustic Vehicle Alerting System Market Scope
