Global Automotive Rain Sensor Market Size By Vehicle (Passenger Cars, Commercial Vehicles), By Competititve Landscape, By Geographic Scope And Forecast
Report ID: 323627|No. of Pages: 202
Global Automotive Rain Sensor Market Size By Vehicle (Passenger Cars, Commercial Vehicles), By Competititve Landscape, By Geographic Scope And Forecast
Automotive Rain Sensor Market Size And Forecast
Automotive Rain Sensor Market size had a valuation of USD 4.62 billion in 2022. We expect that the market will reach a valuation of USD 9.78 billion by 2030, with an exceptional CAGR of 6.97% from 2024 to 2030.
The Global Automotive Rain Sensor Market is expanding due to the automotive industry, which is the largest end-user for the product. As the global population is earning more, they have a reasonable income in their hand to support the purchases of vehicles. Because of this, the demand for automobiles, primarily cars, has increased globally, mainly in developed and developing countries. The EV market has benefited the most from this trend as people prefer EVs over conventional cars due to environmental concerns and government regulations. Government regulations are also encouraging companies to equip advanced safety solutions in their cars to get higher ratings on the safety scale, which will increase the market demand for Automotive Rain sensors.
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Global Automotive Rain Sensor Market Definition
The Automotive Rain Sensor is a part of the advanced driver-assistance system that can sense the presence of water droplets on the windscreen to trigger the wipers or other programmed actions to allow safe driving conditions for the user. The primary programmed action for an Automotive Rain Sensor is turning on the windscreen wipers to clear the water present on the glass. Other than this, in some cars, Automotive Rain Sensor is also programmed to close the car doors and sunroof. It is crucial for the user to have such an automated system so that when it rains, the user does not have to shift their attention to prevent water from coming inside the car or obstructing their vision and risking their life.
Thus, in modern vehicles, Automotive Rain Sensor has become an integral part which is something actively sought by customers as a safety and convenience measure. The Automotive Rain Sensor works by projecting a beam of infrared light on the windscreen, which, when reflected, is sensed by the photodiode. If there is water present on the windscreen, the amount of infrared light reflected decreases, which is the primary mechanism behind the Automotive Rain sensor.
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Global Automotive Rain Sensor Market Overview
The primary growth driver for the Automotive Rain Sensor is the expansion of the automotive industry. The automotive industry is susceptible to the latest technological developments as it improves convenience for the user. In recent decades, the automotive industry has changed significantly, showing higher acceptance of renewable energy or secondary energy sources. The most significant change in the automotive industry is the EV market. Environmental concerns are boosting the demand for EVs.
Besides environmental factors, EVs also offer many technology-focused features such as automated controls, improved safety features, and superior convenience over fuel-based vehicles. Due to its power source being batteries, EVs enable manufacturers to include electric controls and management systems, such as automated rain sensors, to attract more consumers. Due to such market developments, the demand for Automotive Rain sensors has increased significantly, and it is only estimated to grow further with the expansion of the EV market.
Global Automotive Rain Sensor Market Segmentation Analysis
The Global Automotive Rain Sensor Market is Segmented on the Basis of Vehicles, And Geography.
Automotive Rain Sensor Market, By Vehicle
- Passenger Cars
- Commercial Vehicles
Based on the Vehicle, we have segmented the global automotive sensor market into passenger cars and commercial vehicles. The passenger car segment is forecasted to dominate the market with higher revenue and a larger market share. The demand for passenger cars is increasing as people are earning more and having an exponential chunk of income in hand to spend on vehicles. The EV market is the primary growth factor for passenger cars.
Automotive Rain Sensor Market, By Geography
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
Based on Geography, the global Automotive Rain Sensor is bifurcated into North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. Based on our regional analysis, the Asia Pacific region is estimated to have a superior market share due to its massive automotive industry and higher acceptance of cutting-edge technologies. The region is native to some of the largest vehicle manufacturers in the world that are technologically advanced and produce automobiles of superior quality.
Key Players
The “Global Automotive Rain Sensor Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Denso Corporation, HELLA GmbH & Co KGaA, ZF Friedrichshafen AG, Robert Bosch GmbH, Hamamatsu Photonics KK, Mitsubishi Motors Corporation, Vishay Intertechnology Inc, and Melexis.
Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the players mentioned above globally.
Key Developments
- In May 2023, Denso Corporation announced that the company will be collaborating with United Semiconductor Japan Company (USJC) for the development of insulated gate bipolar transistors (IGBT).
- In March 2021, HELLA formed an alliance with Wejo, a provider of vehicle data for the development of high-performance radar, battery, and rain-light-climate sensors.
Ace Matrix Analysis
The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as Active, Cutting Edge, Emerging, and Innovators.
Market Attractiveness
The image of market attractiveness provided would further help to get information about the region that is majorly leading in the Global Automotive Rain Sensor Market. We cover the major impacting factors driving the industry growth in the given region.
Porter’s Five Forces
The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behavior of competitors and a player’s strategic positioning in the respective industry. Porter’s five forces model can be used to assess the competitive landscape in the Global Automotive Rain Sensor Market, gauge the attractiveness of a certain sector, and assess investment possibilities.
Report Scope
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| STUDY PERIOD | 2019-2030 |
| BASE YEAR | 2022 |
| FORECAST PERIOD | 2024-2030 |
| HISTORICAL PERIOD | 2019-2021 |
| UNIT | Value (USD Billion) |
| KEY COMPANIES PROFILED | Denso Corporation, HELLA GmbH & Co KGaA, ZF Friedrichshafen AG, Robert Bosch GmbH, Hamamatsu Photonics KK, Mitsubishi Motors Corporation, Vishay Intertechnology Inc, and Melexis. |
| SEGMENTS COVERED |
|
| CUSTOMIZATION SCOPE | Free report customization (equivalent up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope |
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• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
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Data Collection Matrix
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Econometrics and data visualization model
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Industry Analysis Matrix
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