Global Acoustic Vehicle Alerting Systems Market Size, Share, Forecast Report, 2020-2027

As electric vehicles (EVs) are moving in on the automobile market, safety relating to acoustic perception is one of the major concerns. The noise frequency/level emitted by an EV are very different from emitted by an internal combustion engine (ICE) vehicle. The low noise level of an EV could make it difficult for pedestrians, especially for visually impaired population, to detect an approaching EV immerse in the traffic flow due to the masking effect provided by the ambient noises. Furthermore, the increasing number of electric vehicles on the road increases the potential danger of silent vehicles to pedestrians, cyclists, and geriatric public. The global acoustic vehicle alerting systems market is expected to witness ~12% CAGR during the forecast period, 2019–2025.

The growth of global acoustic vehicle alerting systems market can be primarily be attributed to the stringent regulations mandated by the governments across the globe to curb the possibility of accidents caused due to low sound of electric vehicles. For instance, the European Union has a new directive requiring all new electric and hybrid vehicles to give a sound warning to pedestrians when traveling at speeds below 12 mph by 2021. Similarly, in the US, the National Highway Traffic Safety Administration (NHTSA) mandated to require all electric and hybrid vehicles to emit sound while moving up to 18.6 mph by September 2020. However, the maintenance and durability of AVAS in electric vehicles is expected to hinder the growth of global acoustic vehicle alerting systems market over the forecast period. The growing demand for autonomous vehicles and connected vehicles creates opportunities for the manufacturers.

Furthermore, governments all around the world, including the US, the UK, India, and China, are taking initiatives to increase the awareness regarding the use of electric vehicles to control the adverse impact on the environment and foreign exchange reserves. For instance, the Indian Government launched the National Electric Mobility Mission Plan (NEMMP) 2020, with an aim to achieve national fuel security by promoting the use of electric vehicles in the country. Similarly, the European Commission initiated the ‘Green eMotion’ project, which is worth EUR 41.8 million (USD 47.22 million) with an objective to achieve technological optimization and EV market development. This further increase the penetration of electric vehicles on the road, contributing in the growth of global acoustic vehicle alerting systems market.

Prominent Players

The Prominent Players in the global acoustic vehicle alerting systems market are Denso Corporation (Japan), HARMAN International (US), Delphi Technologies (UK), Daimler AG (Germany), Volkswagen AG (Germany), BMW AG (Germany), Honda Motor Co., Ltd (Japan), Nissan Motor Corporation (Japan), MANDO-HELLA Electronics Corp. (South Korea), and KUFATEC GmbH & Co. KG (Germany)
The global acoustic vehicle alerting systems market is segmented based on vehicle type, sales channel, and region. On the basis of vehicle type, the global market has been segmented into passenger car, light commercial vehicle, and heavy commercial vehicle. On the basis of sales channel, the global market has been segmented into original equipment manufacturer (OEM) and aftermarket.