Automotive Rain Sensor Market All Set to Witness Massive Growth during Forecast 2020-2027
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COVID-19 scenario analysis:
• The COVID-19 pandemic has pushed the global economy into a crisis.
• The lockdown imposed to curb the pandemic has severely affected the entire value-chains of most major automotive industries.
• Automakers have redirected the investments of R&D to sustain the core operation.
• Besides, the vehicle manufacturers would need to reduce profits to enhance sales.
• With the negative progression of automotive sales, the automotive rain sensor market would also be affected simultaneously.
• Moreover, organized strategies by OEMs is needed to survive in this pandemic.
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Top impacting factors: market scenario analysis, trends, drivers, and impact analysis
The rising incorporation of rain-sensing wipers in vehicles due to convenience for drivers is driving the market growth. Besides, the rising demand for safety and comfort features in the vehicle is propelling the automotive rain sensor market. Moreover, the rising number of road accidents due to visibility issues during heavy rains is proliferating the market. However, the integration of advanced electronic components increases the overall cost of vehicles, which, in turn, hampers the market growth. Further, technological advancement in the automotive sector and the rise of autonomous, semi-autonomous, and advanced driver assist system (ADAS) vehicles is fueling the market growth.
The automotive rain sensor market trends are as follows:
Adoption of rain sensors in budget vehicles to accelerate the market
The rain-sensing wipers have achieved huge popularity in the automotive sector. Owing to the advantages offered by rain-sensing wipers, its adoption has amplified in the vehicle. This, in turn, has helped in the reduction of price. Moreover, the budget car segment also offers rain-sensing wipers nowadays due to the reduction in the cost of the wipers. For instance, 2020 Hyundai i20 features rain-sensing wipers in India. Besides, the aftermarket segment is witnessing a significant demand for rain-sensing wipers.
Alternative for sensors to hamper market growth
With rising consumer demands, the automakers are investing radically in research and development activities. The integration of sensor and electronics have changed the automotive sector completely. Besides, newer technologies attract a new customer base. However technological development in the field of wipers like the use of cameras in place of sensors would hamper the market growth. For instance, in 2018, Tesla launched ‘Deep rain’ neural net for its automatic wipers. Tesla used its Autopilot cameras to feed its computer vision neural net to determine the speed for the wipers instead of rain sensors.
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Key benefits of the report:
• This study presents the analytical depiction of the Automotive Rain Sensor industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the market share.
• The current market is quantitatively analyzed from 2020 to 2027 to highlight the growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed automotive rain sensor market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the automotive rain sensor market research report:
• What are the leading market players active in the automotive rain sensor market?
• What are the current trends that will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities in the market?
• What are the projections for the future that would help in taking further strategic steps?
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