Acoustic Vehicle Alerting System Market by Application and Geography - Forecast and Analysis 2022-2026

The acoustic vehicle alerting system market share is expected to increase by 16.33 million units from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 5.42%.

This acoustic vehicle alerting system market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers acoustic vehicle alerting system market segmentation by application (two-wheeler and four-wheeler) and geography (APAC, Europe, North America, South America, and Middle East and Africa). The acoustic vehicle alerting system market report also offers information on several market vendors, including Ardent Group Ltd., Brigade Electronics Group Plc, Continental AG, Electronic Specifier Ltd., HELLA GmbH and Co. KG, JAGUAR LAND ROVER AUTOMOTIVE PLC, Kendrion NV, Mercedes Benz Group AG, Nissan Motor Co. Ltd., Nisshinbo Holdings Inc., Novosim, OE Industry sp. z o.o., Samsung Electronics Co. Ltd., Siemens AG, SoundRacer AB, STMicroelectronics International NV, Tesla Inc., Texas Instruments Inc., TH Cologne, and Volkswagen AG among others.

What will the Acoustic Vehicle Alerting System Market Size be During the Forecast Period?

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Acoustic Vehicle Alerting System Market: Key Drivers, Trends, and Challenges

The high popularity of luxury EVs is notably driving the acoustic vehicle alerting system market growth, although factors such as the limited application in the non-electric vehicle industry may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the acoustic vehicle alerting system industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Acoustic Vehicle Alerting System Market Driver

• One of the key factors driving growth in the acoustic vehicle alerting system market is the high popularity of luxury EVs.
• The demand for luxury EVs is increasing globally owing to factors such as improving socio-economic conditions in emerging economies such as China and India, consistent demand in developing automotive markets, and easier vehicle financing options.
• The adoption of AVAS is high in luxury EVs owing to their silent operation. For instance, the chances of collision with pedestrians are high owing to the silent operation of luxury EVs. Therefore, AVAS is available as a part of the premium audio system in most EVs. Hence, the growing demand for luxury EVs is driving the growth of the market in focus.
• Prominent luxury vehicle manufacturers are witnessing steady growth in sales of luxury EVs in recent years. Such factors are expected to be important drivers for the growth of the market in focus.

Key Acoustic Vehicle Alerting System Market Trend

• The developments in the field of advanced automotive sound systems is an acoustic vehicle alerting system market trend that is expected to have a positive impact in the coming years.
• The application of AVAS in vehicles increases the number of speakers in the automotive sound system. Therefore, vendors operating in the AVAS are working on improving the overall performance and experience of the automotive sound system.
• Burmester Audiosysteme GMBH offers the High-End Surround Sound System, which comprises 27 high-performance speakers that deliver a total output of 1,600 Watts. The company has combined digital and analog amplifier technology, which delivers high-quality, natural sound with performance amplification.
• B and W Group Ltd. offers a Diamond Surround Sound System, which comprises 16 speakers and ten channels, delivering a power output of 1,400 Watts. Such developments are expected to boost the sales of AVAS, thus driving the growth of the market in focus.

Key Acoustic Vehicle Alerting System Market Challenge

• The limited application in the non-electric vehicle industry will be a major challenge for the acoustic vehicle alerting system market during the forecast period.
• Most EVs, BEVs, and hybrid cars offer silent operation, unlike internal combustion engines (ICs). These cars are audible only at higher speeds.
• Governments in Europe, North America, and APAC have mandated the installation of AVAS in electric cars. Therefore, AVAS has found a major application in the electric car industry. 
• Though EVs are gaining traction in the global automotive industry, the automotive industry is dominated by non-electric vehicles such as petrol and diesel vehicles.
• Vendors operating in the global acoustic vehicle alerting system market mostly target electric cars, electric bikes, e-scooters, and e-bike companies globally. Also, numerous non-electric vehicle owners are unaware of AVAS. Such limited application of AVAS may negatively impact the growth of the market focus.

This acoustic vehicle alerting system market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global acoustic vehicle alerting system market as a part of the global automotive components and accessories market within the global auto components market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the acoustic vehicle alerting system market during the forecast period.

Who are the Major Acoustic Vehicle Alerting System Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

• Ardent Group Ltd.
• Brigade Electronics Group Plc
• Continental AG
• Electronic Specifier Ltd.
• HELLA GmbH and Co. KG
• JAGUAR LAND ROVER AUTOMOTIVE PLC
• Kendrion NV
• Mercedes Benz Group AG
• Nissan Motor Co. Ltd.
• Nisshinbo Holdings Inc.
• Novosim
• OE Industry sp. z o.o.
• Samsung Electronics Co. Ltd.
• Siemens AG
• SoundRacer AB
• STMicroelectronics International NV
• Tesla Inc.
• Texas Instruments Inc.
• TH Cologne
• Volkswagen AG

This statistical study of the acoustic vehicle alerting system market encompasses successful business strategies deployed by the key vendors. The acoustic vehicle alerting system market is fragmented and the vendors are deploying growth strategies such as developing high-performance audio amplifiers for customers and developing audio amplifiers for specialized applications such as safety systems to compete in the market.

Product Insights and News

• ardent-uk.com - The company offers acoustic vehicle alerting systems such as Forman V AVAS.

• ardent-uk.com - Through the unified segment, the company offers services and products to sectors such as aviation, transport, power generation, and military.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The acoustic vehicle alerting system market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Acoustic Vehicle Alerting System Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the acoustic vehicle alerting system market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Acoustic Vehicle Alerting System Market?

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47% of the market’s growth will originate from APAC during the forecast period. China is the key market for acoustic vehicle alerting systems in APAC. Market growth in this region will be faster than the growth of the market in other regions.

Countries such as China, Japan, and Australia have gained prominence in connected car technologies and EVs in recent years. This will facilitate the acoustic vehicle alerting system market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

In H1 2020, the COVID-19 pandemic had a limited impact on the regional acoustic vehicle alerting system market. Though the sales of EVs increased in 2020, the regional acoustic vehicle alerting system market faced supply chain disruptions due to trade and lockdown restrictions in APAC. However, the regional acoustic vehicle alerting system market witnessed growth due to the resumption of trade operations in H2 2020 and the resumption of production facilities in the automotive industry due to the initiation of vaccination drives. 

What are the Revenue-generating Application Segments in the Acoustic Vehicle Alerting System Market?

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The acoustic vehicle alerting system market share growth in the two-wheeler segment will be significant during the forecast period.  The demand for acoustic vehicle alerting systems (AVAS) is growing in two-wheelers, as the safety of pedestrians and cyclists is a key area every government is looking to improvise. The awareness of various automotive safety systems is increasing due to increasing vehicle accidents. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the acoustic vehicle alerting system market size and actionable market insights on post COVID-19 impact on each segment.

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What are the Key Data Covered in this Acoustic Vehicle Alerting System Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive acoustic vehicle alerting system market growth during the next five years
• Precise estimation of the acoustic vehicle alerting system market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the acoustic vehicle alerting system industry across APAC, Europe, North America, South America, and Middle East and Africa
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of acoustic vehicle alerting system market vendors

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