The global AVAS market is anticipated to grow at a CAGR of 14.6% during the forecast period (2024-2031). The rising adoption of EVs to enhance pedestrian safety, and increased regulatory focus on EV safety, coupled with increased consumer awareness, accelerates the demand for AVAS technologies. In addition, the increasing focus on electrification by the automotive industry further boosts the integration of AVAS as a standard safety feature in EVs. According to the International Energy Agency (IEA)’s Global EV Outlook 2023, in 2022, global electric car sales exceeded 10 million units, constituting 14.0% of new car sales, up from 9.0% in 2021 and less than 5.0% in 2020. China led with a 60.0% share, exceeding its 2025 new energy vehicle sales target. In 2022, Europe, the second-largest market, witnessed a 15.0% increase in electric car sales, constituting over 20.0% of total car sales. In the US, the third-largest market, electric car sales surged by 55.0%, capturing an 8.0% share of total sales.
Browse the full report description of “Acoustic Vehicle Alerting System (AVAS) Market Size, Share & Trends Analysis Report by Vehicle Type (Two-Wheeler, Passenger Car, Light Commercial Vehicle (LCV), and Heavy Commercial Vehicle (HCV)), by Application (Advanced Driver-Assistance System (ADAS), Infotainment, Body Electronics, and Powertrain Electronics), and by End-User (Original Equipment Manufacturers (OEMs), and Aftermarket Solutions), Forecast Period (2024-2031)” at https://www.omrglobal.com/industry-reports/avas-market
Governments have also increased their spending on EVs, directly boosting the passenger cars maintenance, repair, and operations (MRO) segment by driving demand for such services for improved EVs. According to the IEA, global spending on electric cars exceeded $425 billion in 2022, up 50.0% relative to 2021. In India, the government's $3.2 billion incentive program has attracted $ 8.3 billion in investments, fueling the growth of EVs and component manufacturing.
Furthermore, the key players are increasingly launching EV alert systems to focus on enhancing safety in electric vehicles, addressing pedestrian concerns encouraging the acoustic vehicle alerting system market growth. For instance, in July 2020, ECCO introduced the Electric Vehicle Alert System® (EVAS) to help manufacturers comply with federal regulations in style. With a system that exceeded standards and provided a library of custom tones, EVAS keeps pedestrians safe while allowing automakers to develop an audible brand.
Market Coverage
• The market number available for – 2023-2031
• Base year- 2023
• Forecast period- 2024-2031
• Segment Covered-
o By Vehicle Type
o By Application
o By End-User
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- includes Brigade Electronics Inc., Continental Engineering Services GmbH, Hella Gmbh & Co. KGaA, Mercedes-Benz AG, and others.
Key questions addressed by the report
Global Acoustic Vehicle Alerting System Market Report Segment
By Vehicle Type
By Application
By End-User
Global Acoustic Vehicle Alerting System Market Report Segment by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
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