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Acoustic Vehicle Alerting System (AVAS) Market Trends

  • Report ID: GMI8170
  • Published Date: Feb 2024
  • Report Format: PDF

Acoustic Vehicle Alerting System Market Trends

The increasing demand for safety technologies in EVs is driving lucrative growth in the acoustic vehicle alerting system industry. With the rise in EV adoption, there is a growing need to enhance pedestrian safety due to the quieter operation of electric vehicles. For instance, in March 2023, Honda Cars India Ltd., a prominent manufacturer of high-quality cars in India, launched the New City (Petrol) and New City eHEV for the Indian market, incorporating additional features for enhanced safety, connectivity & convenience.
 

The New City eHEV introduces advanced safety technologies including the acoustic vehicle alerting system (AVAS), specifically designed for low-speed EV Mode operations in the Honda City eHEV model. Acoustic vehicle alerting system technology addresses this concern by emitting audible alerts, thereby mitigating the risk of pedestrian accidents, and ensuring compliance with regulatory requirements, leading to market expansion.
 

The rising demand for customized acoustic vehicle alerting system sounds is propelling significant growth in the acoustic vehicle alerting system market. As automakers and consumers seek to differentiate their vehicles & enhance brand identity, there is a growing emphasis on personalized auditory experiences. Customized acoustic vehicle alerting system sounds allow manufacturers to tailor the alerting system to align with the vehicle's design aesthetic or brand theme, while also catering to consumer preferences for distinctive & recognizable sounds. This trend is driving innovation and investment in acoustic vehicle alerting system technology, fueling market expansion.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of acoustic vehicle alerting system (AVAS) reached USD 2 billion in 2023 and is set to witness 12% CAGR from 2024 to 2032, owing to the increased risk of pedestrian crashes and injuries along with regulations mandating its implementation in EVs and automakers worldwide.

The passenger cars segment held over 70% of the market share in 2023, due to automakers prioritizing the implementation of acoustic vehicle alerting system technology in passenger cars.

Asia Pacific market recorded over 40% revenue share in 2023, attributed to the growing need to enhance pedestrian safety, owing to quiet operation of electric vehicles in the region.

Analog Devices, Inc., Brigade Electronics, Continental AG, Denso Corporation, Harman International, Hitachi, Ltd., Hyundai Mobis Co., Ltd., Lear Corporation, Microchip Technology, and Texas Instruments are some of the major AVAS companies worldwide.

Acoustic Vehicle Alerting System Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 20
  • Tables & Figures: 360
  • Countries covered: 22
  • Pages: 240
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