"Market Intelligence for High-Geared Performance"
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.
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.
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.
To gain extensive insights into the market, Request for Customization
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.
By Application Type
By Vehicle Type
“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”- One of the Leading Food Companies in Germany
“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”- Intuitive Surgical
“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”- Major Food Company in Japan
“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”- Ziering Medical
“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”- Major Manufacturer of Precision Machine Parts in India
“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”- Hewlett-Packard
“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”- Global Management Consulting Firm
“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”- UK-based Start-up in the Medical Devices Sector
“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”- One of the Largest Companies in the Defence Industry