The report on the Acoustic Vehicle Alerting Systems Market has been launched by Stratview Research is an all-inclusive report that talks about the market structure and growth in the forecast period of 2022-2027. The report also offers insights into different market segments and other factors affecting the market.
The acoustic vehicle alerting systems market is expected to grow at a promising CAGR of 11.7% during the forecast period.
Strict emission norms, paired with government support in the form of tax rebates, grants, and subsidies, as well as other non-financial benefits to promote and accelerate EV adoption, are expected to drive the recovery and growth of the acoustic vehicle alerting systems market. Furthermore, with increasing personal disposable income, the demand for both passenger and commercial vehicles is growing.
The market's growth is influenced by a number of factors that have a significant or indirect impact on demand. An overview of such factors can be found in our report, which is derived utilizing SWOT analysis, industry life cycle, and supply chain analysis. Such key information can help market participants and investors identify the low-hanging fruits in the market and establish strategic initiatives to accelerate their growth.
COVID-19 IMPACT on the Market-
The COVID-19 pandemic has influenced almost all the industries, little or large, dealing in any sector.
The growth curves of Acoustic Vehicle Alerting Systems market have witnessed enormous ebb and flows in the year 2020. The market scenario and the pace of growth have taken a huge turn and have prompted numerous adjustments in the cycles. 2021 is probably going to be superior to 2020 for the Acoustic Vehicle Alerting Systems market players as the greater part of the organizations have continued their activities and the interest is getting re-established for them.
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The Cornerstones in the market-
Listed below are the top key players that dominate the Acoustic Vehicle Alerting Systems Market –
- Denso Corporation
- Harman International Industries
- Delphi Technologies
- Mercedes-Benz Group AG
- Volkswagen AG
Acoustic Vehicle Alerting Systems Market Segmentation:
The report segments based upon demographics, geographics, benefits and volume etc, has different leading factors and identifies the most-attractive segments and sub-segments. The market segmentation will not only help marketers to be more efficient in terms of time, money and other resources but also allows companies to learn about their target audience so that they can tailor campaigns that leads a roadmap to success.
Based on the vehicle type, the market is segmented as passenger cars, light commercial vehicles, and heavy commercial vehicles. Passenger cars are expected to be the largest segment during the forecast period. The segment's growth can be attributed to the increasing adoption of electric vehicles, owing to their lower prices and continuous innovations from automakers.
Based on the sales channel type, the market is bifurcated into OEM and aftermarket. OEM is likely to remain the dominant segment during the forecast period. The installation of AVAS components in EVs is increasing as a result of government mandates, which is driving the growth of the segment. The aftermarket segment, on the other hand, is expected to register a faster growth given the wear and tear of AVAS components, as well as government regulations for such systems and EVs in leading markets.
In terms of regions, Asia-Pacific is expected to remain the largest market for acoustic vehicle alerting systems during the forecast period. The region's market is expected to grow due to the rising demand for EVs in countries such as India and China. Furthermore, the region is home to various global EV and component manufacturers, and the growing emphasis of Chinese automakers on electric variants is expected to drive the growth of the regional AVAS market. In addition, Europe is expected to have the highest CAGR during the forecast period, owing to rapidly improving economies of EVs and regulatory mandates.
Report Customization Options
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- Company Profiling
- Detailed profiling of key market players (up to 3 players)
- SWOT analysis of key market players (up to 3 players)
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