Electric Rearview Mirror Market was valued at USD 2.5 Billion in 2022 and is projected to reach USD 5.1 Billion by 2030, growing at a CAGR of 9.8% from 2024 to 2030.
The electric rearview mirror market is witnessing significant growth driven by technological advancements in the automotive industry. With the increasing focus on safety features and advanced driver-assistance systems (ADAS), electric rearview mirrors have become a critical component in modern vehicles. These mirrors offer enhanced functionality compared to traditional mechanical mirrors, such as auto-dimming, defrosting, and adjustment features. The market is segmented by application, with the primary categories being passenger cars and commercial vehicles. This segmentation allows for targeted innovations and solutions specific to the needs of these vehicle types. As consumer demand for connected, intelligent, and safety-enhanced vehicles grows, the electric rearview mirror market is poised for continued expansion across these applications.
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The passenger car segment of the electric rearview mirror market is expected to dominate due to the increasing adoption of advanced automotive technologies in consumer vehicles. Electric rearview mirrors in passenger cars not only provide basic functionalities such as adjusting angles and auto-dimming, but they also integrate more sophisticated features like camera-based rearview systems and smart sensors for enhanced visibility. As vehicle manufacturers prioritize safety, comfort, and convenience, the demand for electric mirrors is rising. These mirrors also play a role in reducing the aerodynamic drag of vehicles, contributing to improved fuel efficiency and a more streamlined design. The growing trend of electric vehicles (EVs) is further accelerating the adoption of such technologies, as EV manufacturers emphasize high-tech features to differentiate their products.
The commercial vehicle segment, including trucks, buses, and delivery vehicles, is also witnessing a rise in the adoption of electric rearview mirrors. These vehicles require more durable and efficient mirrors due to the diverse range of driving conditions they encounter. Electric rearview mirrors in commercial vehicles offer improved functionality, such as reducing blind spots, providing better visibility in various weather conditions, and offering durability for long-haul operations. Additionally, the integration of camera-based systems in commercial vehicles helps drivers to avoid accidents by providing a broader field of vision. Regulatory requirements for enhanced safety features and the increasing demand for fuel-efficient vehicles are driving the market for electric mirrors in this segment. Fleet operators are increasingly seeing the value in adopting these mirrors for both safety and operational efficiency.
One of the key trends in the electric rearview mirror market is the growing integration of advanced driver-assistance systems (ADAS) into vehicles. ADAS technologies such as lane-keeping assistance, adaptive cruise control, and automatic braking systems are enhancing the role of rearview mirrors. As vehicles become more connected and autonomous, electric rearview mirrors are increasingly being integrated with cameras and sensors, providing drivers with real-time information about their surroundings. Another significant trend is the move toward reducing vehicle weight for better fuel efficiency, which has led to the development of lighter and more compact electric mirrors. Manufacturers are also focusing on incorporating smart features such as voice control and gesture recognition to improve user experience and safety.
The electric rearview mirror market offers substantial opportunities in emerging markets where automotive demand is growing rapidly. In countries with expanding middle-class populations and increasing urbanization, there is a rising demand for advanced safety features in vehicles, driving the growth of electric mirrors. Moreover, the shift toward electric vehicles (EVs) presents new opportunities for electric rearview mirrors, as these vehicles prioritize technological integration. As the adoption of ADAS continues to rise, there is a growing need for high-quality, reliable, and cost-effective electric mirrors that can enhance the functionality of these systems. Furthermore, innovations in camera technology and the development of more affordable manufacturing processes are expected to create new opportunities for growth in both the passenger car and commercial vehicle segments.
1. What is an electric rearview mirror?
An electric rearview mirror is a modern, electronically controlled mirror that offers features like auto-dimming, defrosting, and camera integration to enhance safety and visibility.
2. How does an electric rearview mirror improve safety?
Electric rearview mirrors improve safety by reducing blind spots, offering better visibility in poor weather, and integrating with advanced driver-assistance systems for real-time monitoring.
3. What are the benefits of using electric mirrors in commercial vehicles?
Electric mirrors in commercial vehicles help enhance visibility, reduce accidents, and improve fuel efficiency by offering aerodynamically optimized designs and camera-based systems.
4. Are electric rearview mirrors used in electric vehicles?
Yes, electric rearview mirrors are commonly used in electric vehicles (EVs) as they support advanced features like enhanced visibility and contribute to reducing the vehicle's weight for better energy efficiency.
5. What is the role of cameras in electric rearview mirrors?
Cameras in electric rearview mirrors provide a wider field of view, reduce blind spots, and integrate with other safety features like collision warning systems, enhancing driver awareness.
6. What are the key trends driving the electric rearview mirror market?
Key trends include the rise of advanced driver-assistance systems (ADAS), the integration of camera and sensor technologies, and the demand for more fuel-efficient and aerodynamically optimized vehicle designs.
7. Are electric rearview mirrors expensive?
Electric rearview mirrors are more expensive than traditional mirrors due to their advanced features, but they are becoming more affordable as technology improves and production scales up.
8. How does the adoption of electric mirrors contribute to vehicle efficiency?
Electric mirrors reduce the weight of vehicles and improve aerodynamics, contributing to enhanced fuel efficiency and a more streamlined vehicle design.
9. What role do electric rearview mirrors play in autonomous vehicles?
In autonomous vehicles, electric rearview mirrors are crucial for providing real-time visual data from cameras and sensors, supporting navigation, and enhancing overall safety.
10. What is the expected growth of the electric rearview mirror market?
The electric rearview mirror market is expected to experience significant growth due to increasing automotive safety requirements, the rise of electric and autonomous vehicles, and advancements in related technologies.
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Ficosa Internacional
Magna International
Mitsuba
Motherson Sumi Systems
Murakami
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Electric Rearview Mirror Market
Passenger Car
Commercial Vehicle
Based on Types the Market is categorized into Below types that held the largest Electric Rearview Mirror market share In 2023.
Memory Storage Electric Rearview Mirror
Heatable Electric Rearview Mirror
Foldable Electric Exterior Rearview Mirror
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
1. Introduction of the Global Electric Rearview Mirror Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Electric Rearview Mirror Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Electric Rearview Mirror Market, By Type
6. Global Electric Rearview Mirror Market, By Application
7. Global Electric Rearview Mirror Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Electric Rearview Mirror Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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