Automotive Rain Sensor Market Trends

Growth Drivers

Growing Penetration of Smart Vehicles - rain sensor is a driver assistance system that takes automatically activates the windshield wiper system when it rains and thereby improves in-vehicle safety and comfort. The rising demand for smart vehicles with advanced driving assist functions is expected to propel the automotive rain sensor market in the forecasted period. For instance, it was found that by 2025, almost 70% of new vehicles sold in China will be smart vehicles with high-level driving-assist functions.
Increasing Connectivity Levels in Vehicles – which is expected to increase, as more than 60% of new vehicles sold in North America and Europe are projected to reach Connected Car Customer Experience (C3X) Level 3 or above by 2030.
Rising Investment in Automotive Research & Development (R&D) - for instance, in 2020, European Union (EU) investment reached 70 billion per year.
Upsurge in Automotive Software Investments – which is forecasted to hike up to USD 59 billion in 2030.

Challenges

High Cost Involved in the Research & Development
High Cost of Installation
Concern about the Reliability of the Data Provided by Rain Sensors

Automotive Rain Sensor Market: Key Insights

Base Year	2023
Forecast Year	2024-2036
CAGR	6%
Base Year Market Size (2023)	USD 5.3 Billion
Forecast Year Market Size (2033)	USD 11.3 Billion
Regional Scope	North America (U.S., and Canada) Latin America (Mexico, Argentina, Rest of Latin America) Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific) Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe) Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

Frequently Asked Questions (FAQ)

Increasing Use of advanced technologies such as radar, sensors, and software along with advanced driving assist functions are some of the major factors anticipated to drive the growth of the market.

The market is anticipated to attain a CAGR of 6% over the forecast period, i.e., 2023-2033.

High cost involved in the research & development as well as high cost of installation are some of the factors estimated to hamper the market growth.

The market in Europe is projected to hold the largest market share by the end of 2033 and provide more business opportunities in the future.

The major players in the market are Tesla, ams OSRAM, HELLA GmbH & Co. KGaA, Hamamatsu Group, Leopold Kostal GmbH & Co. KG, Xenso, Casco Schoeller GmbH, and others.

The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

The market is segmented by sales channel, vehicle type, and by region.

The passenger cars segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.

Automotive Rain Sensor Market Trends