The Acoustic Vehicle Alerting System Market is being driven by Growing popularity of luxury EVs
The Acoustic Vehicle Alerting System Market is expected to grow at a CAGR of 4.8% during 2023 and 2028. During this period, the market is also expected to show a growth of 14.2 million. The Acoustic Vehicle Alerting System (AVAS) market is witnessing significant growth due to the integration of advanced sound systems in vehicles. Vendors in this market are focusing on enhancing the overall performance and user experience of automotive sound systems by improving speaker technology. Notable Tier-1 suppliers, such as Burmester Audiosysteme GmbH, are leading this trend with innovative solutions. Burmester's High-End Surround Sound System, featuring 27 high-performance speakers and a total output of 1,600 Watts, combines digital and analog amplifier technology for superior, natural sound with amplified performance.
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Which Factors Are Causing a Surge in Market Growth?
The market is segmented based on Application (Two-wheeler, Four-wheeler) Geography (APAC, Europe, North America, South America, Middle East and Africa).
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
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Key Features in Acoustic Vehicle Alerting System Market Research Report
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The Acoustic Vehicle Alerting System (AVAS) market is witnessing significant growth due to the increasing adoption of electric scooters, electric bicycles, and electric vehicles (EVs) for sustainable and green transportation in smart cities. With the innovation of silent vehicle technology, there is a global push for standardization in AVAS to enhance pedestrian safety awareness and reduce noise pollution from EVs, hybrid vehicles, and autonomous vehicles. Advanced AVAS regulations, connected vehicles, and electric vehicle infrastructure are driving the future of mobility and automotive innovation. Active safety features, driver assistance systems, and acoustic design are becoming essential vehicle design trends. Audio engineering and sound quality are crucial factors in ensuring effective AVAS implementation. The future of urban mobility solutions lies in the adoption of advanced AVAS, noise reduction technology, and sound masking to mitigate vehicle noise pollution and ensure a safer and more enjoyable transportation experience. The hybrid vehicle market and vehicle regulations are also influencing the AVAS market, with safety regulations and pedestrian detection systems playing a vital role in reducing vehicle emissions and ensuring the future of EV adoption.
The global automotive components and equipment market encompasses organizations involved in the manufacturing of parts and accessories for various vehicle types, including passenger cars (PCs), electric vehicles (EVs), commercial vehicles (CVs), heavy-duty vehicles, off-road vehicles, motorcycles, scooters, quad bikes, and three-wheelers. According to Technavio, the market size is determined by the consolidated revenue generated by these entities. Factors fueling the expansion of the automotive components and equipment market include the rise in electronic components in automobiles, the surge in sales of electric vehicles, motorcycles, and passenger cars, leading to heightened demand for electric 2-wheeler models and automotive OEM components. Additionally, regulatory bodies' emphasis on safety standards, battery technology advancements, and growing environmental awareness are key drivers. Notable vehicle manufacturers, such as Audi, are integrating acoustic vehicle alerting systems in near-silent electric vehicles to ensure road safety.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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