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 sensors 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

The global automotive rain sensor market is segmented and analyzed for demand and supply by vehicle type segment into passenger cars, light commercial vehicles, and heavy commercial vehicles. Amongst these segments, the passenger cars segment is anticipated to garner the largest revenue by the end of 2033, backed by the growing number of cars along with the surge in the production of passenger cars worldwide. For instance, over 57 million passenger cars were produced worldwide in 2021.