Acoustic Vehicle Alerting Systems Market Insights: USD [8.31 Billion], Key Players, and Trends
The Acoustic Vehicle Alerting Systems (AVAS) market is experiencing significant growth, driven by increasing adoption of electric vehicles (EVs) and regulatory mandates aimed at ensuring pedestrian safety. According to TechSci Research, the global AVAS market stood at USD 8.31 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 6.84% during the forecast period from 2025 to 2029. This report delves into the key factors influencing the market, segmentation dynamics, regional analysis, and the competitive landscape. Acoustic Vehicle Alerting Systems Market Drivers Regulatory Mandates for Pedestrian Safety Governments worldwide have introduced stringent regulations mandating the integration of AVAS in electric and hybrid vehicles. This is primarily aimed at reducing risks posed by the silent operation of EVs at low speeds, especially for visually impaired pedestrians, cyclists, and other road users. Rising Electric Vehicle Adopt...