THE FUTURE OF URBAN MOBILITY: INTEGRATING ACOUSTIC VEHICLE ALERTING SYSTEMS

The Future of Urban Mobility: Integrating Acoustic Vehicle Alerting Systems

The Future of Urban Mobility: Integrating Acoustic Vehicle Alerting Systems

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Market Overview

The global acoustic vehicle alerting system market generated USD 4,594.8 million in revenue in 2023, and it is projected to witness a CAGR of 12.2% during 2024–2030, reaching USD 10,262.4 million by 2030.

This is because of the tight emission standards and financial incentives that the government offers via tax rebates, grants, subsidies, and other non-financial benefits for electric vehicles.

The market is being consolidated and a joint venture of the leaders in electric vehicle manufacturers around the whole globe. Companies such as grown and are now working together, aiming at synergies to share technical know-how. In an illustration, BYD is in partnership with local distributors for the expansion of electric vehicle sales in Southeast Asia. Volkswagen as a partner with SAIC Motor on the other hand is set to develop electric cars too.

Governments are making efforts to encourage EV uptake, in turn sparking the market escalation of ACAS. Some conditions of government assistance include tax-free, purchase rebates, and financial incentives that are provided to consumers of EVs. For example, the Uttar Pradesh Electric Vehicle Manufacturing and Mobility Policy 2022 offers total exemption in taxes on all EVs registered in the state. Therefore, we can expect an explosion in the sales of electric vehicles.

Key Insights


  • During the projection period, the four-wheeler category is estimated to advance at a faster rate of 12.4% within the vehicle segment.

  • This development can be credited to the augmented acceptance of light-duty trucks and electric cars, propelled by innovations, lower prices, and an extensive range of available models from automakers.

  • Developed economies such as Europe and the U.S. will lead the acoustic vehicle alerting system industry for four-wheelers while developing economies like India and China will lead in the two-wheeler category.

  • The OEMs in the AVAS market segment experienced higher revenue in 2023, based on the rolled-out new installations in EVs, fulfilling the legal norms of the government.

  • This part of the market is predicted to show a bigger CAGR of 12.6 %, which, in turn, is the result of regular-wear-and-tear of AVAS components, and also the replacement of the provided part due to end-of-life of the system or governmental regulations which are supposed to mandate AVAS retrofitting in the EVs which were made before 2021.

  • The integrated category is forecasted to show faster growth in the AVAS industry due to increased integration of AVASs in four-wheelers.

  • This growth is driven by the significant presence of AVAS components in four-wheelers, contributing significantly to the market's expansion.

  • Additionally, the rising production and sales of electric passenger cars and light-duty trucks will further bolster the growth of the AVAS market in the integrated category.

  • BEVs are expected to dominate the propulsion segment due to government regulations mandating AVAS installation, with a 70% share of plug-in EVs by 2030.

  • Govt aid, fund allocation, and battery tech R&D will be the key channels in BEV growth.

  • APAC stands the largest market share and remains the largest one sticking to sparking high demand in countries like India and China.

  • EV capitalised on the future mobility solution and energy security whilst lowering the import of oil for energy resource.

  • EV manufacturers worldwide and electric two wheelers in APAC will mean boost of AVA sales in the region.


Source: P&S Intelligence

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