Report Code: CMI29206

Published Date: August 2023

Pages: 220+

Category: Automotive

Report Snapshot

CAGR: 6.7%
4.6B
2022
5.3B
2023
12.1B
2032

Source: CMI

Study Period: 2024-2033
Fastest Growing Market: Asia-Pacific
Largest Market: Europe

Major Players

  • Continental AG
  • Harman International
  • Sound Racer AB
  • KUFATEC GmbH & Co. KG
  • Brüel & Kjær Sound & Vibration Measurement A/S
  • Others

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Reports Description

As per the current market research conducted by the CMI Team, the global Automotive Virtual Engine Sound System  Market is expected to record a CAGR of 6.7% from 2023 to 2032. In 2022, the market size is projected to reach a valuation of USD 4.6 billion. By 2032, the valuation is anticipated to reach USD 12.1 billion.

Automotive Virtual Engine Sound System Market Specification

Specification
Name Automotive Virtual Engine Sound System (VESS)
Purpose To enhance the sound of an internal combustion engine (ICE) in an electric vehicle (EV) or hybrid electric vehicle (HEV)
Components A sound generator, speakers, and a controller
Sound generator Produces the sound of an ICE
Speakers Amplify and reproduce the sound of the sound generator
Controller Coordinates the operation of the sound generator and speakers
Benefits

·       Improves the driving experience by making EVs and HEVs sound more like ICE vehicles.

·       Can be used to create different driving experiences, such as a sporty or luxurious sound.

·       Can be used to mask the noise of the electric motor or hybrid system
Source: According to CMI Market Research Team Analysis

The Automotive Virtual Engine Sound System market pertains to technologies that replicate or enhance engine sounds for electric, hybrid, and traditional vehicles. It caters to safety regulations, offering sound cues to pedestrians and enhances driving experiences.

Trends involve a shift towards EVs, driving demand for VESS to meet safety requirements, and customization options to appeal to consumer preferences. Additionally, performance-oriented applications persist, aiming to simulate powerful engine notes. VESS evolves as vehicle technology advances, consumer expectations shift, and environmental concerns influence automotive trends.

Automotive Virtual Engine Sound System Market – Significant Growth Factors

The Automotive Virtual Engine Sound System Market presents significant growth opportunities due to several factors:

  • Electric Vehicle (EV) Surge: The rapid surge in electric vehicle adoption across global markets has mandated the implementation of Automotive Virtual Engine Sound Systems (VESS) to address safety concerns. The demand for VESS arises from the need to replicate the audible presence of traditional engines, ensuring pedestrian safety in quieter EVs.
  • Performance Enhancement Demand: Enthusiasts and drivers of sports and performance vehicles are actively seeking to enhance their driving experiences. VESS is embraced as a means to amplify engine notes, creating an immersive environment that matches the vehicle’s performance capabilities and elevates the overall journey.
  • Regulatory Compliance: Stringent regulations set by various regions require electric and hybrid vehicles to emit audible signals to alert pedestrians and cyclists. VESS technology is instrumental in meeting these regulations, leading to its integration into vehicle designs to ensure compliance and enhance road safety.
  • Customization Trend: The burgeoning customization trend in the automotive sector has extended to auditory experiences. Automotive enthusiasts desire tailored driving encounters, prompting the development of customizable VESS options. This enables drivers to adjust and personalize their vehicle’s engine sound profiles according to individual preferences.
  • Aftermarket Retrofit Solutions: The expanding aftermarket segment offers a valuable opportunity for companies to provide retrofit VESS installations. This caters to existing vehicle owners who seek to augment their auditory experience, presenting a niche avenue for growth within the market.
  • Collaboration with EV Manufacturers: Collaborative ventures with electric vehicle manufacturers open doors to seamless VESS integration. By aligning with EV producers, VESS providers can tap into the burgeoning electric vehicle market, simultaneously ensuring compliance with safety regulations and enhancing the auditory experience for consumers.

Automotive Virtual Engine Sound System Market – Mergers and Acquisitions

The Automotive Virtual Engine Sound System Market has seen several mergers and acquisitions in recent years, with companies seeking to expand their market presence and leverage synergies to improve their product offerings and profitability. Some notable examples of mergers and acquisitions in the Automotive Virtual Engine Sound System Market include:

  • Continental AG and Sennheiser: In 2020, Continental AG collaborated with audio technology leader Sennheiser to develop advanced sound solutions, including VESS, for vehicle interiors to enhance the in-cabin auditory experience. The unique system fills the vehicle interior with lifelike immersive sound. The two partners are integrating Sennheiser’s patented AMBEO 3D audio technology with Continental’s Ac2ated Sound system.
  • Harman International and Bentley Motors: Harman International partnered with Bentley Motors to create customized sound management solutions, including VESS. Following the successful collaboration between Bang & Olufsen and Bentley Motors to provide immersive sound experiences for the Bentley Continental GT coupe in 2017, the two brands have joined forces once again to equip the all-new Bentley Continental GT Convertible with sensational sound.
  • Robert Bosch Venture Capital invests in TetraVue: Robert Bosch Venture Capital, the corporate venture capital company of the Bosch group, has completed an investment in TetraVue. TetraVue is a leader in ultra-high resolution 3D data and imagery, which will help enhance the capabilities of automated vehicles, contributing to advanced VESS solutions by integrating LiDAR-based object detection capabilities.
  • ClearMotion Announces Acquisition of Bose Corporation: Bose Corporation acquired ClearMotion, a company focused on developing innovative suspension and motion control systems. This acquisition could potentially influence VESS technologies to create synchronized auditory experiences with vehicle movements.

These mergers and acquisitions have helped companies expand their product offerings, improve their market presence, and capitalize on growth opportunities in the Automotive Virtual Engine Sound System Market. The trend is expected to continue as companies seek to gain a competitive edge in the market.

COMPARATIVE ANALYSIS OF THE RELATED MARKET

Automotive Virtual Engine Sound System (VESS) Market Automotive Electronics Market Green Mobility Market
CAGR 6.7% (Approx) CAGR 8.7% (Approx) CAGR 11% (Approx)
USD 12.1 Billion by 2032 USD 468.78 Billion by 2032 USD 33 Billion by 2032

Automotive Virtual Engine Sound System Market – Significant Threats

The Automotive Virtual Engine Sound System (VESS) Market faces several significant threats that could impact its growth and profitability in the future. Some of these threats include:

  • Regulatory Changes: Shifting regulations could impact the demand for VESS. If requirements for sound emissions in electric vehicles change or become less stringent, it might reduce the necessity for these systems, affecting market demand.
  • Technology Integration Challenges: As vehicles become more complex and interconnected, integrating VESS with various vehicle systems could pose technical challenges. Compatibility issues might hinder seamless operation and adoption.
  • Consumer Acceptance and Preference: If consumers do not find the simulated engine sounds authentic or appealing, it could hamper VESS adoption. The perception of artificial sounds as gimmicky could lead to reluctance to embrace the technology.
  • Competing Sound Technologies: The rise of alternative sound enhancement technologies or sound isolation technologies could divert attention and resources away from VESS. This competition might affect the market’s growth potential as consumers have more choices for enhancing or altering auditory experiences in vehicles.
  • Evolving EV Noise Standards: Changes in noise emission standards for electric vehicles could impact the design and implementation of VESS. If the standards become more stringent or vary across regions, manufacturers may face challenges in ensuring consistent compliance and adapting VESS technology to meet evolving requirements.

Report Scope

Feature of the Report Details
Market Size in 2023 USD 5.3 Billion
Projected Market Size in 2032 USD 12.1 Billion
Market Size in 2022 USD 4.6 Billion
CAGR Growth Rate 6.7% CAGR
Base Year 2023
Forecast Period 2024-2033
Key Segment By Type, Application, Distribution Channel and Region
Report Coverage Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options Request tailored purchasing options to fulfil your requirements for research.

Category-Wise Insights

By Type

  • Simulated Engine Sounds: Simulating traditional engine noises in electric and hybrid vehicles aids pedestrian safety. The trend focuses on refining sound profiles to ensure compliance with regulations and deliver a genuine driving experience, aligning with the ongoing shift towards electric mobility.
  • Enhanced Engine Sounds: Amplifying or altering engine noises enhances performance car driving experiences. This trend caters to enthusiasts seeking immersive drives, aligning auditory sensations with vehicle performance attributes in the dynamic Automotive VESS Market.

Global Automotive Virtual Engine Sound System Market 2023–2032 (By Billion)

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By Application

  • Electric and Hybrid Vehicles: Automotive Virtual Engine Sound Systems (VESS) replicate engine sounds in electric and hybrid vehicles to enhance pedestrian safety. Trends reveal a rising inclination towards sound customization, serving to differentiate brands and elevate user experiences while addressing the absence of traditional engine noise.
  • Performance and Sports Cars: VESS amplifies engine notes in performance vehicles, intensifying the thrill of driving. The trend towards customizable sound profiles caters to automotive enthusiasts seeking tailored auditory encounters that align with their preferences.
  • Luxury and Premium Vehicles: VESS integration in luxury cars contributes to cultivating a sophisticated ambience and reinforcing brand identity. Growing demand for this technology underscores the significance of advanced sound simulation technology and the provision of bespoke sound profiles to cater to discerning consumers.
  • Commercial and Fleet Vehicles: VESS adoption in commercial and fleet vehicles plays a pivotal role in ensuring safety compliance. These systems provide essential auditory cues for pedestrians, especially in low-speed conditions. As safety regulations evolve, seamless VESS integration becomes indispensable for fleet operators to guarantee heightened pedestrian awareness and enhance overall road safety.

By Distribution Channel

  • Original Equipment Manufacturers (OEMs): OEMs directly incorporate Automotive Virtual Engine Sound Systems (VESS) into new vehicle models during production, providing seamless and standardized solutions that align with their designs and engineering.
  • Automotive Dealerships: Dealerships tap into consumer interest by offering VESS as an optional add-on, capitalizing on the rising demand for personalized driving experiences.
  • Online Retailers: Online platforms have emerged as convenient avenues for aftermarket VESS purchases, catering to tech-savvy consumers seeking enhanced auditory experiences.
  • Specialty Automotive Stores: Specialty stores cater to car enthusiasts by providing a diverse range of VESS options. These outlets focus on meeting unique auditory preferences and needs.
  • Authorized Service Centres: These centres play a vital role by offering professional VESS installation and maintenance services. This ensures optimal system functionality and provides customers with reliable support.

Global Automotive Virtual Engine Sound System Market 2023–2032 (By Type)

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Automotive Virtual Engine Sound System Market – Regional Analysis

The Automotive Virtual Engine Sound System (VESS) Market is segmented into various regions, including North America, Europe, Asia-Pacific, and LAMEA. Here is a brief overview of each region:

  • North America: In North America, the trend for Automotive Virtual Engine Sound Systems (VESS) is driven by the increasing adoption of electric vehicles (EVs). The region’s focus on sustainability and stringent safety regulations necessitates VESS implementation for pedestrian safety. Additionally, the customization trend is gaining momentum, with consumers seeking unique auditory experiences that align with their preferences.
  • Europe: In Europe, the VESS trend is shaped by stringent noise regulations and the push for eco-friendly transportation. VESS is essential for EVs to comply with safety standards. Furthermore, the luxury vehicle market seeks VESS solutions to maintain brand identity, offering refined engine sounds that match their upscale image.
  • Asia-Pacific: The Asia-Pacific region showcases a surge in automotive innovation, especially in the EV sector. VESS is gaining prominence due to regulations and safety needs. Moreover, the integration of technology aligns with the tech-savvy consumer base, driving the demand for customizable and advanced VESS solutions.
  • LAMEA (Latin America, Middle East, and Africa): In LAMEA, the VESS trend is characterized by a combination of urbanization and performance enhancement. As urban populations grow, the need for pedestrian safety through VESS becomes significant. Additionally, the preference for sports and luxury vehicles fuels demand for performance-oriented VESS systems, enhancing driving experiences in the region.

Global Automotive Virtual Engine Sound System Market 2023–2032 (By Application)

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Competitive Landscape – Automotive Virtual Engine Sound System Market

The Automotive Virtual Engine Sound System Market is highly competitive, with a large number of manufacturers and retailers operating globally. Some of the key players in the market include:

  • Continental AG
  • Harman International
  • Sound Racer AB
  • KUFATEC GmbH & Co. KG
  • Brüel & Kjær Sound & Vibration Measurement A/S
  • Bosch Engineering GmbH
  • Symphony Sound LLC
  • Active Sound Technology Ltd.
  • Mando-Hella Electronics Corp.
  • Driveco GmbH
  • Others

These companies operate in the market through various strategies such as product innovation, mergers and acquisitions, and partnerships.

Emerging players like “Sonic Labs” and “EcoSound” are adopting cutting-edge technology and sound simulation advancements to enter the Automotive Virtual Engine Sound System market. Their innovative approaches, such as AI-driven sound customization and eco-friendly sound profiles, distinguish them as potential disruptors.

Established leaders like “Continental AG” and “Harman International” currently dominate the VESS market. Leveraging their extensive experience, wide distribution networks, and strong R&D capabilities, they offer integrated solutions that cater to safety regulations, performance enhancement, and consumer preferences, solidifying their market presence and industry influence.

The Automotive Virtual Engine Sound System Market is segmented as follows:

By Type

  • Simulated Engine Sounds
  • Enhanced Engine Sounds

By Application

  • Electric and Hybrid Vehicles
  • Performance and Sports Cars
  • Luxury and Premium Vehicles
  • Commercial and Fleet Vehicles

By Distribution Channel

  • Original Equipment Manufacturers (OEMs)
  • Automotive Dealerships
  • Online Retailers
  • Specialty Automotive Stores
  • Authorized Service Centres

Regional Coverage:

North America

  • U.S.
  • Canada
  • Mexico
  • Rest of North America

Europe

  • Germany
  • France
  • U.K.
  • Italy
  • Spain
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • New Zealand
  • Australia
  • South Korea
  • Rest of Asia Pacific

The Middle East & Africa

  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa

Latin America

  • Brazil
  • Argentina
  • Rest of Latin America

Table of Contents

  • Chapter 1. Preface
    • 1.1 Report Description and Scope
    • 1.2 Research scope
    • 1.3 Research methodology
      • 1.3.1 Market Research Type
      • 1.3.2 Market research methodology
  • Chapter 2. Executive Summary
    • 2.1 Global Automotive Virtual Engine Sound System  Market, (2024 – 2033) (USD Billion)
    • 2.2 Global Automotive Virtual Engine Sound System  Market : snapshot
  • Chapter 3. Global Automotive Virtual Engine Sound System  Market – Industry Analysis
    • 3.1 Automotive Virtual Engine Sound System  Market: Market Dynamics
    • 3.2 Market Drivers
      • 3.2.1 Electric Vehicle (EV) Surge
      • 3.2.2 Performance Enhancement Demand
      • 3.2.3 Regulatory Compliance
      • 3.2.4 Customization Trend
      • 3.2.5 Aftermarket Retrofit Solutions
      • 3.2.6 Collaboration with EV Manufacturers.
    • 3.3 Market Restraints
    • 3.4 Market Opportunities
    • 3.5 Market Challenges
    • 3.6 Porter’s Five Forces Analysis
    • 3.7 Market Attractiveness Analysis
      • 3.7.1 Market attractiveness analysis By Type
      • 3.7.2 Market attractiveness analysis By Application
      • 3.7.3 Market attractiveness analysis By Distribution Channel
  • Chapter 4. Global Automotive Virtual Engine Sound System  Market- Competitive Landscape
    • 4.1 Company market share analysis
      • 4.1.1 Global Automotive Virtual Engine Sound System  Market: company market share, 2022
    • 4.2 Strategic development
      • 4.2.1 Acquisitions & mergers
      • 4.2.2 New Product launches
      • 4.2.3 Agreements, partnerships, cullaborations, and joint ventures
      • 4.2.4 Research and development and Regional expansion
    • 4.3 Price trend analysis
  • Chapter 5. Global Automotive Virtual Engine Sound System  Market – Type Analysis
    • 5.1 Global Automotive Virtual Engine Sound System  Market overview: By Type
      • 5.1.1 Global Automotive Virtual Engine Sound System  Market share, By Type, 2022 and – 2033
    • 5.2 Simulated Engine Sounds
      • 5.2.1 Global Automotive Virtual Engine Sound System  Market by Simulated Engine Sounds, 2024 – 2033 (USD Billion)
    • 5.3 Enhanced Engine Sounds
      • 5.3.1 Global Automotive Virtual Engine Sound System  Market by Enhanced Engine Sounds, 2024 – 2033 (USD Billion)
  • Chapter 6. Global Automotive Virtual Engine Sound System  Market – Application Analysis
    • 6.1 Global Automotive Virtual Engine Sound System  Market overview: By Application
      • 6.1.1 Global Automotive Virtual Engine Sound System  Market share, By Application, 2022 and – 2033
    • 6.2 Electric and Hybrid Vehicles
      • 6.2.1 Global Automotive Virtual Engine Sound System  Market by Electric and Hybrid Vehicles, 2024 – 2033 (USD Billion)
    • 6.3 Performance and Sports Cars
      • 6.3.1 Global Automotive Virtual Engine Sound System  Market by Performance and Sports Cars, 2024 – 2033 (USD Billion)
    • 6.4 Luxury and Premium Vehicles
      • 6.4.1 Global Automotive Virtual Engine Sound System  Market by Luxury and Premium Vehicles, 2024 – 2033 (USD Billion)
    • 6.5 Commercial and Fleet Vehicles
      • 6.5.1 Global Automotive Virtual Engine Sound System  Market by Commercial and Fleet Vehicles, 2024 – 2033 (USD Billion)
  • Chapter 7. Global Automotive Virtual Engine Sound System  Market – Distribution Channel Analysis
    • 7.1 Global Automotive Virtual Engine Sound System  Market overview: By Distribution Channel
      • 7.1.1 Global Automotive Virtual Engine Sound System  Market share, By Distribution Channel, 2022 and – 2033
    • 7.2 Original Equipment Manufacturers (OEMs)
      • 7.2.1 Global Automotive Virtual Engine Sound System  Market by Original Equipment Manufacturers (OEMs), 2024 – 2033 (USD Billion)
    • 7.3 Automotive Dealerships
      • 7.3.1 Global Automotive Virtual Engine Sound System  Market by Automotive Dealerships, 2024 – 2033 (USD Billion)
    • 7.4 Online Retailers
      • 7.4.1 Global Automotive Virtual Engine Sound System  Market by Online Retailers, 2024 – 2033 (USD Billion)
    • 7.5 Specialty Automotive Stores
      • 7.5.1 Global Automotive Virtual Engine Sound System  Market by Specialty Automotive Stores, 2024 – 2033 (USD Billion)
    • 7.6 Authorized Service Centres
      • 7.6.1 Global Automotive Virtual Engine Sound System  Market by Authorized Service Centres, 2024 – 2033 (USD Billion)
  • Chapter 8. Automotive Virtual Engine Sound System  Market – Regional Analysis
    • 8.1 Global Automotive Virtual Engine Sound System  Market Regional Overview
    • 8.2 Global Automotive Virtual Engine Sound System  Market Share, by Region, 2022 & – 2033 (USD Billion)
    • 8.3. North America
      • 8.3.1 North America Automotive Virtual Engine Sound System  Market, 2024 – 2033 (USD Billion)
        • 8.3.1.1 North America Automotive Virtual Engine Sound System  Market, by Country, 2024 – 2033 (USD Billion)
    • 8.4 North America Automotive Virtual Engine Sound System  Market, by Type, 2024 – 2033
      • 8.4.1 North America Automotive Virtual Engine Sound System  Market, by Type, 2024 – 2033 (USD Billion)
    • 8.5 North America Automotive Virtual Engine Sound System  Market, by Application, 2024 – 2033
      • 8.5.1 North America Automotive Virtual Engine Sound System  Market, by Application, 2024 – 2033 (USD Billion)
    • 8.6 North America Automotive Virtual Engine Sound System  Market, by Distribution Channel, 2024 – 2033
      • 8.6.1 North America Automotive Virtual Engine Sound System  Market, by Distribution Channel, 2024 – 2033 (USD Billion)
    • 8.7. Europe
      • 8.7.1 Europe Automotive Virtual Engine Sound System  Market, 2024 – 2033 (USD Billion)
        • 8.7.1.1 Europe Automotive Virtual Engine Sound System  Market, by Country, 2024 – 2033 (USD Billion)
    • 8.8 Europe Automotive Virtual Engine Sound System  Market, by Type, 2024 – 2033
      • 8.8.1 Europe Automotive Virtual Engine Sound System  Market, by Type, 2024 – 2033 (USD Billion)
    • 8.9 Europe Automotive Virtual Engine Sound System  Market, by Application, 2024 – 2033
      • 8.9.1 Europe Automotive Virtual Engine Sound System  Market, by Application, 2024 – 2033 (USD Billion)
    • 8.10 Europe Automotive Virtual Engine Sound System  Market, by Distribution Channel, 2024 – 2033
      • 8.10.1 Europe Automotive Virtual Engine Sound System  Market, by Distribution Channel, 2024 – 2033 (USD Billion)
    • 8.11. Asia Pacific
      • 8.11.1 Asia Pacific Automotive Virtual Engine Sound System  Market, 2024 – 2033 (USD Billion)
        • 8.11.1.1 Asia Pacific Automotive Virtual Engine Sound System  Market, by Country, 2024 – 2033 (USD Billion)
    • 8.12 Asia Pacific Automotive Virtual Engine Sound System  Market, by Type, 2024 – 2033
      • 8.12.1 Asia Pacific Automotive Virtual Engine Sound System  Market, by Type, 2024 – 2033 (USD Billion)
    • 8.13 Asia Pacific Automotive Virtual Engine Sound System  Market, by Application, 2024 – 2033
      • 8.13.1 Asia Pacific Automotive Virtual Engine Sound System  Market, by Application, 2024 – 2033 (USD Billion)
    • 8.14 Asia Pacific Automotive Virtual Engine Sound System  Market, by Distribution Channel, 2024 – 2033
      • 8.14.1 Asia Pacific Automotive Virtual Engine Sound System  Market, by Distribution Channel, 2024 – 2033 (USD Billion)
    • 8.15. Latin America
      • 8.15.1 Latin America Automotive Virtual Engine Sound System  Market, 2024 – 2033 (USD Billion)
        • 8.15.1.1 Latin America Automotive Virtual Engine Sound System  Market, by Country, 2024 – 2033 (USD Billion)
    • 8.16 Latin America Automotive Virtual Engine Sound System  Market, by Type, 2024 – 2033
      • 8.16.1 Latin America Automotive Virtual Engine Sound System  Market, by Type, 2024 – 2033 (USD Billion)
    • 8.17 Latin America Automotive Virtual Engine Sound System  Market, by Application, 2024 – 2033
      • 8.17.1 Latin America Automotive Virtual Engine Sound System  Market, by Application, 2024 – 2033 (USD Billion)
    • 8.18 Latin America Automotive Virtual Engine Sound System  Market, by Distribution Channel, 2024 – 2033
      • 8.18.1 Latin America Automotive Virtual Engine Sound System  Market, by Distribution Channel, 2024 – 2033 (USD Billion)
    • 8.19. The Middle-East and Africa
      • 8.19.1 The Middle-East and Africa Automotive Virtual Engine Sound System  Market, 2024 – 2033 (USD Billion)
        • 8.19.1.1 The Middle-East and Africa Automotive Virtual Engine Sound System  Market, by Country, 2024 – 2033 (USD Billion)
    • 8.20 The Middle-East and Africa Automotive Virtual Engine Sound System  Market, by Type, 2024 – 2033
      • 8.20.1 The Middle-East and Africa Automotive Virtual Engine Sound System  Market, by Type, 2024 – 2033 (USD Billion)
    • 8.21 The Middle-East and Africa Automotive Virtual Engine Sound System  Market, by Application, 2024 – 2033
      • 8.21.1 The Middle-East and Africa Automotive Virtual Engine Sound System  Market, by Application, 2024 – 2033 (USD Billion)
    • 8.22 The Middle-East and Africa Automotive Virtual Engine Sound System  Market, by Distribution Channel, 2024 – 2033
      • 8.22.1 The Middle-East and Africa Automotive Virtual Engine Sound System  Market, by Distribution Channel, 2024 – 2033 (USD Billion)
  • Chapter 9. Company Profiles
    • 9.1 Continental AG
      • 9.1.1 Overview
      • 9.1.2 Financials
      • 9.1.3 Product Portfolio
      • 9.1.4 Business Strategy
      • 9.1.5 Recent Developments
    • 9.2 Harman International
      • 9.2.1 Overview
      • 9.2.2 Financials
      • 9.2.3 Product Portfolio
      • 9.2.4 Business Strategy
      • 9.2.5 Recent Developments
    • 9.3 Sound Racer AB
      • 9.3.1 Overview
      • 9.3.2 Financials
      • 9.3.3 Product Portfolio
      • 9.3.4 Business Strategy
      • 9.3.5 Recent Developments
    • 9.4 KUFATEC GmbH & Co. KG
      • 9.4.1 Overview
      • 9.4.2 Financials
      • 9.4.3 Product Portfolio
      • 9.4.4 Business Strategy
      • 9.4.5 Recent Developments
    • 9.5 Brüel & Kjær Sound & Vibration Measurement A/S
      • 9.5.1 Overview
      • 9.5.2 Financials
      • 9.5.3 Product Portfolio
      • 9.5.4 Business Strategy
      • 9.5.5 Recent Developments
    • 9.6 Bosch Engineering GmbH
      • 9.6.1 Overview
      • 9.6.2 Financials
      • 9.6.3 Product Portfolio
      • 9.6.4 Business Strategy
      • 9.6.5 Recent Developments
    • 9.7 Symphony Sound LLC
      • 9.7.1 Overview
      • 9.7.2 Financials
      • 9.7.3 Product Portfolio
      • 9.7.4 Business Strategy
      • 9.7.5 Recent Developments
    • 9.8 Active Sound Technology Ltd.
      • 9.8.1 Overview
      • 9.8.2 Financials
      • 9.8.3 Product Portfolio
      • 9.8.4 Business Strategy
      • 9.8.5 Recent Developments
    • 9.9 Mando-Hella Electronics Corp.
      • 9.9.1 Overview
      • 9.9.2 Financials
      • 9.9.3 Product Portfolio
      • 9.9.4 Business Strategy
      • 9.9.5 Recent Developments
    • 9.10 Driveco GmbH
      • 9.10.1 Overview
      • 9.10.2 Financials
      • 9.10.3 Product Portfolio
      • 9.10.4 Business Strategy
      • 9.10.5 Recent Developments
    • 9.11 Others.
      • 9.11.1 Overview
      • 9.11.2 Financials
      • 9.11.3 Product Portfolio
      • 9.11.4 Business Strategy
      • 9.11.5 Recent Developments

List Of Figures

Figures No 1 to 27

List Of Tables

Tables No 1 to 77

Report Methodology

In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:

Preliminary Data Mining

On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.

Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.

Statistical Model

Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.

Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.

Some of the variables taken into account for forecasting are as follows:

• Industry drivers and constraints, as well as their current and projected impact

• The raw material case, as well as supply-versus-price trends

• Current volume and projected volume growth through 2030

We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.

Primary Validation

This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.

Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.

All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:

• Market leaders

• Suppliers of raw materials

• Suppliers of raw materials

• Buyers.

The following are the primary research objectives:

• To ensure the accuracy and acceptability of our data.

• Gaining an understanding of the current market and future projections.

Data Collection Matrix

Perspective Primary research Secondary research
Supply-side
  • Manufacturers
  • Technology distributors and wholesalers
  • Company reports and publications
  • Government publications
  • Independent investigations
  • Economic and demographic data
Demand-side
  • End-user surveys
  • Consumer surveys
  • Mystery shopping
  • Case studies
  • Reference customers


Market Analysis Matrix

Qualitative analysis Quantitative analysis
  • Industry landscape and trends
  • Market dynamics and key issues
  • Technology landscape
  • Market opportunities
  • Porter’s analysis and PESTEL analysis
  • Competitive landscape and component benchmarking
  • Policy and regulatory scenario
  • Market revenue estimates and forecast up to 2030
  • Market revenue estimates and forecasts up to 2030, by technology
  • Market revenue estimates and forecasts up to 2030, by application
  • Market revenue estimates and forecasts up to 2030, by type
  • Market revenue estimates and forecasts up to 2030, by component
  • Regional market revenue forecasts, by technology
  • Regional market revenue forecasts, by application
  • Regional market revenue forecasts, by type
  • Regional market revenue forecasts, by component

Prominent Player

  • Continental AG
  • Harman International
  • Sound Racer AB
  • KUFATEC GmbH & Co. KG
  • Brüel & Kjær Sound & Vibration Measurement A/S
  • Bosch Engineering GmbH
  • Symphony Sound LLC
  • Active Sound Technology Ltd.
  • Mando-Hella Electronics Corp.
  • Driveco GmbH
  • Others

FAQs

The key factors driving the Market are Electric Vehicle (EV) Surge, Performance Enhancement Demand, Regulatory Compliance, Customization Trend, Aftermarket Retrofit Solutions And Collaboration with EV Manufacturers.

The “Distribution Channel” category dominated the market in 2022.

The key players in the market are Continental AG, Harman International, Sound Racer AB, KUFATEC GmbH & Co. KG, Brüel & Kjær Sound & Vibration Measurement A/S, Bosch Engineering GmbH, Symphony Sound LLC, Active Sound Technology Ltd., Mando-Hella Electronics Corp., Driveco GmbH, Others.

“North America” had the largest share in the Automotive Virtual Engine Sound System (VESS) Market.

The global market is projected to grow at a CAGR of 6.7% during the forecast period, 2023-2032.

The Automotive Virtual Engine Sound System (VESS) Market size was valued at USD 4.6 Billion in 2022.

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