Market Analysis: Global Automotive Rain Sensor Market
Global Automotive Rain Sensor Market is expected to rise from its initial estimated value of USD 4.47 billion in 2018 to a projected value of USD 7.48 billion by 2026, registering a CAGR of 6.64% in the forecast period of 2019-2026. This rise in market value can be attributed to increasing government regulations and increasing demands of safety components and technologies in the market.
Market Definition: Global Automotive Rain Sensor Market
Automotive rain sensor is a type of innovative technology that is used to detect the water droplets on the windscreens of a vehicle, subsequently resulting in the operations of wipers so that the driver does not have to start the wipers. This autonomous operations of the wipers is based on the automotive rain sensor technology, which on detection of higher intensity of rain increases the power of the wipers.
- Growth in the demand of vehicles and increase in their overall production; this factor is expected to act as a driver for the market growth
- Increased effectiveness and efficacy in safety of the vehicle with its usage; this factor is expected to act as a driver for the market growth
- Increase in the cost of vehicles due to the high cost components required in this technology; this factor is expected to act as a restraint to the market growth
Segmentation: Global Automotive Rain Sensor Market
- By Vehicle Type
- Passenger Cars
- Commercial Vehicles
- By Distribution Channel
- By Geography
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East & Africa
- North America
Key Developments in the Market:
- In August 2018, Shanghai Baolong Automotive Corporation announced that they had agreed to acquire PEX Automotive GmbH and also acquire 51% share of Tesona GmbH & Co.KG. These acquisitions will help in fast-pacing the growth and expansion strategies for automotive sensors.
- In January 2018, Tesla announced the launch of an over-the-air software update for their Autopilot 2 (AP2) vehicles. The vehicles already equipped with the rain sensing technology required a software update for them to be operational.
Competitive Analysis: Global Automotive Rain Sensor Market
Global automotive rain sensor market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of automotive rain sensor market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Market Competitors: Global Automotive Rain Sensor Market
Few of the major competitors currently present in the market are HELLA GmbH & Co. KGaA; Valeo; Leopold Kostal GmbH & Co. KG; ZF Friedrichshafen AG; Tesla; Shanghai Baolong Automotive Corporation; Robert Bosch GmbH; DENSO CORPORATION; Vishay Intertechnology; Melexis; Hamamatsu Photonics K.K.; General Motors; Xenso; Pacific Industrial Co.,Ltd. and MITSUBISHI MOTORS CORPORATION.
Research Methodology: Global Automotive Rain Sensor Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an Analyst Call or can drop down your inquiry.
The key research methodology used by DBMR Research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved