(MENAFN- GlobeNewsWire - Nasdaq) Stringent Pedestrian Safety Regulations Prompting Automakers to Integrate Electric Vehicle Sound Generators into Their Models
Rockville, MD, Oct. 10, 2024 (GLOBE NEWSWIRE) -- Based on a recently updated industry report published by Fact.MR, the global electric vehicle sound generator market is poised to reach a valuation of US$ 115.5 million in 2024 and further rapidly expand at a CAGR of 18.6% from 2024 to 2034.
As electric vehicles (EV) continue to gain popularity worldwide, demand for electric vehicle sound generators (EVSG) is surging. These innovative devices produce artificial sounds to alert pedestrians and cyclists to the presence of approaching EVs, which are designed to operate quietly.
With an increasing number of countries mandating the use of EVSGs for safety reasons, automakers are racing to comply with regulations and integrate these systems into their EV models. The global EVSG market is projected to exhibit significant growth in the coming years, driven by the rapid adoption of EVs and the prioritization of pedestrian safety.
Leading EVSG manufacturers are continuously enhancing their products, offering customizable sounds, adjustable volumes, and directional audio capabilities. As autonomous vehicles become more prevalent, EVSGs are projected to play a crucial role in ensuring the safety of pedestrians and cyclists in urban environments.
Growing demand for EVSGs is a testament to the automotive industry's commitment to innovation and safety, paving the way for a future where electric mobility coexists harmoniously with other road users.
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Key Takeaways from Market Study
The global electric vehicle sound generator market is forecasted to reach a valuation of US$ 739.3 million by the end of 2034 The Japan and South Korea markets are analyzed to expand at CAGRs of 18% and 7%, respectively, from 2024 to 2034. The market in Mexico is forecasted to expand at a CAGR of 9% through 2034, while the United States is evaluated to hold a share of 77.2% in the North American region by 2034. The East Asia EV sound generator market is projected to expand at a CAGR of 3% through 2034. Based on sales channel, the aftermarket segment is estimated to reach a market valuation of US$ 25.4 million in 2024. The North American market is calculated to climb to a value of US$ 276.4 million by the end of 2034.
“Manufacturers of electric vehicle sound generators are focusing on enhancing their products by offering customizable sounds, adjustable volumes, and directional audio capabilities, catering to evolving regulatory requirements,” says a Fact.MR analyst.
Leading Players Driving Innovation in the Electric Vehicle Sound Generator Market
Key players in the electric vehicle sound generator market are Delphi Technology, Denso Corporation, Continental AG, Harman International, Nissan Motor Company Ltd., Tesla Inc., Daimler AG, Volkswagen AG, KUFATEC GmbH.
G rowing Demand for Customizable Sound Profiles for Personalized Experiences
One of the latest developments is the integration of directional sound capabilities, enabling EVSGs to emit sounds that assist pedestrians in identifying the direction of an approaching vehicle. Furthermore, manufacturers are exploring the utilization of artificial intelligence and machine learning algorithms to adapt sound patterns based on real-time traffic and environmental conditions.
Another significant advancement is the incorporation of customizable sound profiles, empowering automakers to craft unique audio signatures that mirror their brand identity. Certain EVSGs even offer interactive functionalities, allowing drivers to personalize the sounds or adjust them according to different driving modes.
As demand for EVs continues to surge, these cutting-edge innovations in the market are leading the way toward a safer and more immersive electric mobility experience for all road users.
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in its new offering, presents an unbiased analysis of the electric vehicle sound generator market for 2019 to 2023 and forecast statistics for 2024 to 2034.
The study divulges essential insights into the market based on product type (bass sound generators, treble sound generators), type (hardware devices, software systems), vehicle type (passenger cars, light commercial vehicles, heavy commercial vehicles), and sales channel (OEMs, aftermarket), across seven major regions of the world (North America, Latin America, Eastern Europe, Western Europe, East Asia, South Asia & Pacific, and MEA).
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