Acoustic Vehicle Alerting System Market

Acoustic Vehicle Alerting System Market Outlook 2030 -

Acoustic vehicle alerting systems (AVAS) are used as a safety device for electric vehicle (EV). Usually, the noise emitted by electric vehicle (EV) are lower than the noise of internal combustion engine (ICE) vehicle. Therefore, the low noise level of EV could make it difficult for the pedestrians, especially impaired people. Thus, AVAS is fitted into silent vehicles such as electric and hybrid vehicle to aware the pedestrian about the vehicle’s presence. The artificial sounds are generated by using loudspeaker or actuators through vibration according to vehicle’s structural elements proportional to vehicle parameters such as velocity, gas pedal position and gear. Also, to improve safety of the AVAS is made compulsory in many countries. For example, from July 2019, European Union made AVAS compulsory for all EV and hybrid vehicle to give a sound warning to pedestrians when travelling below 12mph. Thus, it will further increase the safety of travelling via electric vehicles.

COVID-19 Impact Analysis:

COVID-19 pandemic has affected the global economy in various countries since, lockdown has caused travel bans and business shutdowns, affecting the global supply chain of AVAS market. The lockdown and government restrictions imposed has impacted the electric vehicle production. Also, unavailability of labour due to social distancing norms and other restriction has affected the production of hardware required for AVAS. COVID-19 had a positive impact on the electric vehicles market since the sales of electric vehicles has increased than the previous year. After the pandemic, the demand for AVAS will increase again since the market of EV also growing.

Top Impacting Factors

• Rise in demand for electric vehicle, rise in concern for increasing pollution level, and government support for electric vehicle adoption will drive growth of the market.
• However, high initial cost of electric vehicle and various government regulations on AVAS can hamper the growth of the market.
• Moreover, rising investment in R&D for advanced features, rise in concerns for safety & security, and rise in demand for e-motorcycle acts as an opportunity for growth of the market.

Market Trends

Rise in demand for electric vehicle

The increasing demand for alternative fuel vehicles has fuelled the demand for battery-operated and hybrid vehicles. In addition, to reduce crude oil consumption, automotive emissions, and air pollution, governments authorities across the world have adopted and implemented favourable policies which promote the use of electric vehicles. For instance, in February 2020, the British transport secretary announced the launch of first fully electric bus town with a grant of $69 million from the government for electric buses. Also, the rising demand for e-commerce activities around the world and pollution concern are forcing the e-commerce companies to opt for electric vehicles for goods transportation. Moreover, the stringent regulations imposed by governments to reduce the negative environmental impact has forcing the automotive manufacturers to develop and promote electric vehicles which is further expected to boost the demand for AVAS. For instance, the federal government of Canada has announced that 10% of the new passenger cars sold in 2025 should be zero-emission in 2025, 30% by 2030 and 100% by 2040. Thus, the increasing demand for electric vehicles is expected to drive the growth of acoustic vehicle alerting system market.                      

Key Benefits of the Report:

• This study presents the analytical depiction of the acoustic vehicle alerting system market along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with challenges of the acoustic vehicle alerting system market.
• The current market is quantitatively analyzed to highlight the market growth scenario.
• The report provides detailed acoustic vehicle alerting system market analysis based on competitive intensity and how the competition will take shape in coming years.

Questions answered in the acoustic vehicle alerting system market research report:

• Which are the leading market players active in the acoustic vehicle alerting system market?
• What would be the detailed impact of COVID-19 on the market?
• What current trends would influence the market in the next few years?
• What are the driving factors, restraints, and opportunities in the acoustic vehicle alerting system market?
• What are the projections for the future that would help in taking further strategic steps?

 Acoustic Vehicle Alerting System Market Report Highlights