The Auto Dimming Mirror Market was estimated to be USD 1.64 Billion in 2016 and is projected to grow at a CAGR of 3.20% during the forecast period.
The base year for the report is 2016 and the forecast period is 2017–2025. The global market is primarily driven by the increasing awareness about vehicle and passenger safety. Also, the trend of integrating additional features in rear-view mirrors has led to a rise in demand for auto dimming mirrors. OEMs have launched new variants in mirrors with advanced features for driver assistance.
Objectives of the Study:
To define, describe, and project the auto dimming mirror market by fuel type (BEV, ICE and others (hybrid))
To define, describe, and project the market by application of mirror (outer mirrors and interior mirrors)
To define, describe, and project the market by functionality (connected and non-connected dimming mirrors)
To identify the market dynamics including drivers, restraints, opportunities, and challenges and analyze their impact on the auto dimming mirror market
To analyze the competitive leadership map for the key players based on their strength of product offerings and business strategies to identify the dynamic differentiators, innovators, visionary leaders, and emerging companies in the market
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The research methodology used in the report involves primary and secondary sources and follows a bottom-up approach for data triangulation. The study involves country-level OEM and model-wise analysis of the auto dimming mirror market in various vehicle types. This analysis involves historical trends as well as existing penetrations by country as well as vehicle type. The analysis is projected based on various factors such as growth trends in vehicle production, regulations about the minimum number of rear-view mirrors to be installed in various type of vehicles, and technological advancements in various countries. The analysis has been discussed and validated with primary respondents, which include experts from the auto dimming mirror industry, manufacturers, and suppliers. Secondary sources include associations such as International Organization of Motor Vehicle Manufacturers (OICA), American Association of Motor Vehicle Administrators (AAMVA), Automotive Component Manufacturers Association of India (ACMA), and paid databases and directories such as Factiva and Bloomberg.
The ecosystem of the auto dimming mirror market comprises manufacturers such as Gentex (US), Samvardhana Motherson Reflectec (Germany), Magna (Canada), Ficosa (Spain), Murakami (Japan), and others. These automotive manufacturers supply auto dimming mirrors to automotive OEMs such as Volkswagen (Germany), General Motors (US), and Ford Motor (US).
Auto Dimming Mirror Market Target Audience
Auto dimming mirror manufacturers and component suppliers
Distributors and suppliers of auto dimming mirrors
Automotive OEMs
Industry associations and other driver assistance systems manufacturers
The automobile industry and related end-user industries
The auto dimming mirror market is projected to grow at a CAGR of 3.20% from 2017 to 2025, to reach a market size of USD 2.11 Billion by 2025. The increasing awareness about vehicle and passenger safety is expected to drive the demand for auto dimming mirrors. The safety of passengers and vehicles has become the prime concern for vehicle buyers. According to the global status report on road safety 2015, more than 1.2 million road traffic deaths occur each year globally. To reduce these accidents, OEMs are integrating different safety features in automotive mirrors. This integration of safety features is expected to drive this market.
The outer mirror segment is the fastest growing segment of the auto dimming mirror market, during the forecast period. The use of outer dimming mirrors is imperative in all types of vehicles. Passenger cars commonly have two outer dimming mirrors. However, in the case of LCVs, the number of outer dimming mirrors is higher than passenger cars. Outer dimming mirrors often comprise features such as blind spot detection and turn signal indicator. OEMs are increasingly offering these features in outer dimming mirrors.
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