Automotive Auto Dimming Mirror Market Size, Share & Industry Analysis, By Type (Connected, Non-connected), By Application Type (Inside Rear View Mirror (IRVM), Outside Rear View Mirror (ORVM)), By Vehicle Type (Passenger cars, Commercial Vehicles) Others and Regional Forecast, 2024-2032

According to the data provided by the National Highway Traffic Safety Administration, 0.84 million, blind spot accidents occur every year in the U.S., leading to a major three hundred fatalities. As a result of this many auto parts manufacturers are investing in to develop innovative advanced mirrors for safety features. For example, Magna International Inc. has developed a camera-based advanced driver assistance system (ADAS) with mirrors to improve visibility while changing lanes. This system also helps to improve visibility while driving with the full load on the vehicle. The increasing demand for advanced electronic and safety features within the vehicle is expected to drive the growth of the auto-dimming mirror market. The stringent government regulations about the safety of the passenger are expected to propel the growth of the auto-dimming mirror market.

Key Market Driver -

The rising demand for the advanced safety features within the vehicles is expected to drive the market.

Key Market Restraint -

The high installation cost of the auto dimming mirror is expected to restrain the market’s growth.

The many automakers are taking into consideration the installation of the auto-dimming mirror in the vehicle owing to the safety of passengers owing to stringent government regulations. Therefore, the rising need for broader and safer visibility is likely to boost the market for the auto-dimming mirror. The high installation cost of the auto-dimming mirror is expected to restrain the growth of the market. Also, the high replacement cost of the auto-dimming mirror is expected to hamper the growth of the market.

Key Players Covered in the Automotive Auto-Dimming Mirror Market:

The major players that are present in the global automotive auto-dimming mirror market include Ficosa (Spain), Magna International Inc. (Canada), Gentex (U.S), Motherson Group (Germany), among others.

Globally, the automotive auto-dimming mirror market has been segmented based on the type, application type, vehicle type, and region. Based on the type, the further market has been segmented into the connected and non-connected. The non-connected segment holds the largest market share owing to less expensive. The connected segment is expected to show exponential growth in the market over the forecast period. The connected segment improves visibility at night. Also, the increasing innovation in the mirror with ADAS by auto parts manufacturers is likely to propel the growth of this segment in the market.

Based on application type, further, the market has been segmented into the inside rearview mirror and outside rearview mirror. The outside rearview mirror segment accounts for the largest market share and is expected to dominate the market over the forecast period owing to major safety factors. The outside rearview mirror is required double in number compared to the inside rearview mirror in the passenger cars. This number of the outside rearview mirror increases in commercial vehicles compared to passenger cars. The inside rearview mirror segment is expected to show good growth in the market over the forecast period owing to increasing advancement in the mirror based system.

Based on vehicle type, further, the automotive auto-dimming mirror market has been segmented into passenger cars and commercial vehicles. The passenger car segment accounts for the largest share in the automotive auto-dimming mirror market and is also expected to dominate the market over the forecast period. The growing sales and production of passenger cars in developing countries is expected to drive the segment’s growth in this market. The increasing adoption of the safety features within the passenger cars is also likely to drive the growth of this segment in the market. The commercial vehicle segment is also expected to show good growth in this market over the forecast period.

Regional Analysis:

Geographically, the market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world (RoW). Asia Pacific is expected to dominate the market over the forecast period owing to factors such as the rising disposable income of consumers and increasing demand for passenger cars with advanced safety features from the developing countries.

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North America is also expected to show good growth in the automotive auto-dimming mirror market over the forecast period. The government stringent safety regulation in this region is expected to drive the market’s growth in this region. Also, increasing the adoption of safety features within a vehicle is likely to drive the market.

Europe is also expected to show good growth in the automotive auto-dimming mirror market over the forecast period. The increasing demand by the consumers for the advanced features in the vehicles and also stringent safety rules in this region are driving the market’s growth in this region.

Segmentation

Key Industry Developments:

• May 2017: Magna International Inc. introduced new system- “ClearView” vision system. This system combines camera with the mirror for enhanced reaview vision. This system provides visibility for the backing out of the parking space and also while lane changing. This will increase safety of the passenger.