Automotive Sensor Cleaning Systems Market To Witness A CAGR
In a growing competitive environment in the automotive industry, automakers are focusing on reducing accidents caused by altered sensor perceptions. Automotive sensors perform poorly when dirt, raindrops, snow, or bird droppings obscure their view. Liquid-based sensor cleaning systems or gas-based cleaning systems are used in such applications, allowing the surface of the sensors to be wiped down and restored to function. Such cleaning systems are finding increased application in autonomous vehicles where the operation of sensors plays a central role, thus contributing to the advancement of the automotive sensor cleaning systems market in all regions. The global automotive sensor cleaning systems market is expected to grow at a CAGR of 10.5% during the forecast period 2020-2030.
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The connected car and electrification are the current trends in the automotive sector. Electric vehicles are also making a name for themselves in emerging markets. Also, a revolution on the after-sales side is expected. This comes in light of a call for certainty. Also, there would be a paradigm shift towards computing power (from power). In other words, automakers need to reinvent themselves as a digital business.
Another form of organized automotive market is digital automotive retail. The terms of the contracts would also be flexible. An easier vehicle trade-in would turn the tide in favor of consumers. Persistence Market Research examines all facets of the automotive vertical through its dedicated team of analysts and consultants.
Key Points From Automotive Sensor Cleaning Systems Market Research
â¢ The liquid-based sensor cleaning segment accounts for a significant share of the global automotive sensor cleaning systems market and is also expected to dominate the market during the forecast period.
â¢ The use of cleaning systems in passenger cars is the most attractive vehicle application with the highest share, followed by the use in commercial vehicles. Different cars such as compact cars, midsize cars, luxury cars and SUVs also use sensor cleaning systems.
â¢ East Asia dominates the global automotive sensor cleaning systems market, and this regional market is expected to grow at the highest rate. Europe holds a significant share in the rapid development of the global automotive sensor cleaning systems market.
â¢ The market is mainly influenced by different developments in liquid and gas based cleaning systems. Various OEMs are investing in the research and development of cleaning systems and patenting their technologies to be able to respond to various sensor applications.
â¢ Maintaining an optimal balance between cost and quality is one of the major challenges for players operating in the Automotive Sensor Cleaning Systems market.
â¢ The COVID-19 crisis has affected the automotive industry, the effect of which has also spilled over into the market for automotive sensor cleaning systems.
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The market landscape continues to remain fairly consolidated
The global automotive sensor cleaning systems market is quite consolidated at the global and regional level. Tier 1 manufacturers account for more than half of the market share. Some of the major players included in the report are Valeo SA, Continental AG, Roechling Automotive, Ficosa International SA and dlhBowles. To gain competitive advantage in the market, market players are involved in partnerships, product innovations and acquisition activities with regard to the high growth of the market.
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