Acoustic Vehicle Alerting Systems (AVAS) are devices that generate sound and they are fitted in electric/hybrid vehicles. These systems are used to protect pedestrians by warning them about the vehicle's presence. Due to the growing concern regarding environmental and passenger protection, the governments of various countries are supporting the development of electric vehicles worldwide. This growing interest and investments in electric vehicles is anticipated to drive the growth of AVAS systems in the coming years.
MARKET SCOPE
The "Global Acoustic vehicle alerting system (AVAS) Market Analysis to 2028" is a specialized and in-depth study of the automotive and transportation industry with a special focus on the global market trend analysis. The report aims to provide an overview of the acoustic vehicle alerting system (AVAS) market with detailed market segmentation by propulsion, vehicle type and mounting position, and geography. The report provides key statistics on the market status of the leading acoustic vehicle alerting system (AVAS) market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on propulsion, the global acoustic vehicle alerting system (AVAS) market is segmented into battery electric vehicle, plug-in hybrid electric vehicle, fuel cell electric vehicle and hybrid electric vehicle.
- On the basis of vehicle type, the market is segmented into passenger vehicle and commercial vehicle.
- Based on mounting position, the global acoustic vehicle alerting system (AVAS) market is segmented into separated and integrated.
MARKET DYNAMICS
Drivers:
- The rising investments in research and development related to advanced security systems are expected to boost the growth of acoustic vehicle alerting system market.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The acoustic vehicle alerting system (AVAS) market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the acoustic vehicle alerting system (AVAS) market in these regions.
IMPACT OF COVID-19 ON ACOUSTIC VEHICLE ALERTING SYSTEM (AVAS) MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
MARKET PLAYERS
The report covers key developments in the acoustic vehicle alerting system (AVAS) market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from acoustic vehicle alerting system (AVAS) market are anticipated to lucrative growth opportunities in the future with the rising demand for acoustic vehicle alerting system (AVAS) in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the acoustic vehicle alerting system (AVAS) market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Brigade Electronics Group Plc
- Daimler AG
- HARMAN International
- HELLA GmbH and Co. KGaA
- JAGUAR LAND ROVER LIMITED
- Kendrion
- Mentor Graphics (Siemens)
- Novosim
- SoundRacer AB
- Texas Instruments Incorporated