The report "Auto Dimming Mirror Market by Fuel Type (BEV, ICE, Hybrid), Application (IRVM and ORVM), Functionality (Connected and Non-Connected), Vehicle Type (PC and LCV), and Region (Asia Pacific, Europe, North America, and RoW) - Global Forecast to 2025", The auto dimming mirror market is projected to grow at a CAGR of 3.20% during the forecast period, to reach a market size of USD 2.11 Billion by 2025. The market is primarily driven by the increasing awareness about vehicle and passenger safety and trend of integrating additional features with a rear-view mirror.
Interior mirror is projected to be the largest segment of the auto dimming mirror market
The interior mirror segment is projected to dominate the auto dimming mirror market, in terms of value, during the forecast period. The use of interior dimming mirrors is imperative in all types of vehicles. Passenger cars and LCVs commonly have one interior dimming mirror comprising features such as blind spot detection and park assist camera.
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The market for connected dimming mirror is estimated to witness the highest growth
Connected auto dimming mirrors stand for dimming mirrors integrated with various other features to provide safety and convenience to drivers while driving. Some of the features which come integrated with dimming mirrors are temperature display, Bluetooth and hands-free connectivity, and navigation. Due to the increasing adoption of connected dimming mirrors, the market for auto dimming mirrors is expected to grow at the highest rate during the forecast period.
Asia Pacific expected to be the largest market for auto dimming mirror market
Asia-Pacific is estimated to dominate the auto dimming mirror market during the forecast period. The region represents countries such as China, Japan, South Korea, and India with the world’s highest vehicle production. The demand for the automotive mirror is directly linked to the vehicle production in this region. According to the Organisation Internationale des Constructeurs d'Automobiles (OICA) publication, these countries together contributed approximately 48% to the global vehicle production in 2016. The increasing purchasing power of people is also one of the key factors for the growth in the Asia Pacific region.
Key Market Players:
The auto dimming mirror market is dominated by a few global players and comprises several regional players. Some of the key manufacturers operating in the market are Magna (Canada), Samvardhana Motherson Reflectec (Germany), Ficosa (Spain), Gentex (US), and Murakami (Japan).
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