Global Electric Rearview Mirror Market was valued at USD 0.5 Billion in 2022 and is projected to reach USD 1.0 Billion by 2030, growing at a CAGR of 9.5% from 2024 to 2030.
The electric rearview mirror market has been experiencing significant growth, driven by increasing demand for enhanced safety features in vehicles. Electric rearview mirrors are replacing traditional mirrors with digital displays that offer numerous benefits, including better visibility, improved aerodynamics, and the potential for advanced features like augmented reality. These mirrors use cameras instead of glass, capturing real-time footage of the surroundings and displaying it on a screen inside the car. This innovation is particularly popular in electric and autonomous vehicles where traditional mirrors could limit design and performance. As the global automotive industry continues to prioritize safety, consumer preferences for advanced driving assistance systems (ADAS) are reshaping the market. Electric mirrors are more versatile compared to traditional ones, offering features like auto-adjustment based on lighting conditions and driver preferences. The integration of electric rearview mirrors is also supported by regulatory pressures, such as stricter safety standards and environmental policies encouraging more aerodynamic vehicle designs. In addition, electric mirrors contribute to the overall reduction of a car's weight and drag, improving fuel efficiency and driving range, which is especially important for electric vehicles (EVs). Another critical factor driving the market is the growing trend of connected cars. With advancements in IoT, electric rearview mirrors can communicate with other systems in the vehicle, providing real-time alerts and enhancing the overall user experience. This market expansion is not limited to luxury vehicles, as more affordable models are increasingly adopting electric mirrors. Companies like Continental, Gentex, and Valeo are leading the charge in innovation, collaborating with automakers to develop systems that integrate seamlessly with the vehicle's electronics. Electric rearview mirrors are poised to dominate the future of the automotive industry, offering superior functionality and enhancing safety. As consumer expectations evolve and technology continues to advance, the market is expected to grow at a rapid pace, offering numerous opportunities for manufacturers and consumers alike.
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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, Global, 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)
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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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