Global Acoustic Vehicle Alerting System Market: Introduction
Acoustic vehicle alerting system is a sound emitting device assembled in electric vehicle which produces a lower level of sound than the conventional vehicle. When the vehicle is operated at a lower speed, the acoustic vehicle alerting system warn pedestrians or other commuters about the vehicle’s presence. Hence, the device is developed to reduce the risk of accidents. The acoustic vehicle alerting system market is expected to be driven by increasing demand for electric vehicles, government mandates, and increasing importance of pedestrian safety. An acoustic vehicle alerting system could either be integrated or separately available.
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Global Acoustic Vehicle Alerting System Market: Segmentation
|Based on the installation||
|Based on the Vehicle Type||
|Based on the Propulsion Type||
|Based on the Sales Channel||
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Global Acoustic Vehicle Alerting System Market: Dynamics
Increasing sales for electric vehicle is expected to propel the growth of global acoustic vehicle alerting system market. Moreover, the reduced noise levels of vehicle due to the adoption of acoustic vehicle alerting system, that reduces the level of pollution, is expected to increase the demand for acoustic vehicle alerting system market over the forecast period.
However, alternative option to acoustic vehicle alerting system is an automatic emergency braking systems that provides similar safety options is expected to slow down the sales of acoustic vehicle alerting system. Besides, demand for acoustic vehicle alerting system is expected to grow at significant pace over the near future owing to the increasing awareness of pedestrian safety.
Also, manufacturers of acoustic vehicle alerting system are investing in testing and research & development of different sound modules for continuous advancements in acoustic vehicle alerting system. For instance, in March 2019, Mercedes-AMG GmbH partnered with Linkin Park, the renowned music band, to create an artificial sound for its electric cars. This, in turn, is predicted to create significant opportunities for the market players.
Global Acoustic Vehicle Alerting System Market: Regional Outlook
The National Highway Traffic Safety Administration (NHTSA) of the United States has ordered a compulsory installation of acoustic vehicle alerting system from September 2020 production of all electric vehicles. Hence, North America is expected to have high growth for the acoustic vehicle alerting system market. On the country level, in China, electric vehicle manufacturers are focusing on introducing the acoustic vehicle alerting system in the electric vehicles. For instance, in January 2018, BYD Co Ltd. announced to manufacture battery electric vehicle and plug-in hybrid electric vehicles with low-speed sound warning system to alert pedestrians. Therefore, Asia Pacific is estimated to have substantial share in the global acoustic vehicle alerting system market. The European Parliament also announced to introduce compulsory acoustic vehicle alerting system (AVAS) for all new electric and hybrid vehicles to alert vulnerable road users. Thus, Europe is estimated to create healthy growth for acoustic vehicle alerting system. The Middle East & Africa is expected to have moderate share in the acoustic vehicle alerting system market as compared to other regions.
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Global Acoustic Vehicle Alerting System Market: Market Participants
Some of the key players involved in the acoustic vehicle alerting system market include
- Delphi Technologies
- BMW AG
- Mando-Hella Electronics Corporation
- Continental AG
- Daimler AG
- Sound Racer
- Honda Motor Co., Ltd.
- Tesla Inc.
- Kendrion N.V.
- Nissan Motor Company Ltd.
- Brigade Electronics
- Texas Instruments
- Volkswagen AG
- HARMAN International
- Kufatec GmbH & Co. KG
- Denso Corporation
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