South Korea Electronic Rear Mirror Market was valued at USD 0.4 Billion in 2022 and is projected to reach USD 1.0 Billion by 2030, growing at a CAGR of 13.7% from 2024 to 2030.
The South Korea Electronic Rear Mirror Market is witnessing rapid growth, driven by the rising demand for advanced automotive technologies. As vehicle manufacturers increasingly focus on improving safety, convenience, and overall driving experience, electronic rearview mirrors are becoming a key component in modern vehicles. These mirrors, equipped with digital cameras and sensors, replace traditional glass mirrors with high-resolution displays, offering better visibility, reduced blind spots, and improved aerodynamics. The market for these mirrors is not just expanding in the automotive industry, but is also gaining traction in other sectors such as public transportation and electric vehicles (EVs).
One of the main drivers of the Electronic Rear Mirror Market in South Korea is the increasing adoption of advanced driver assistance systems (ADAS). These systems rely heavily on electronic rear mirrors to provide real-time information about the vehicle's surroundings, enhancing the driver's awareness and minimizing accidents. With government regulations focusing on improving road safety, the demand for such technologies is projected to rise significantly over the next few years. Moreover, consumers are increasingly preferring smart vehicles, pushing automotive manufacturers to integrate more intelligent features into their designs, making the electronic rear mirror a must-have feature.
Industries are also demanding electronic rear mirrors for their cost-effectiveness and efficiency. In particular, the reduction in weight compared to traditional mirrors translates to better fuel efficiency in vehicles. For electric vehicles, the use of electronic rearview mirrors is especially crucial, as it helps to lower the vehicle's overall energy consumption, thus contributing to longer driving ranges. With a growing focus on sustainability, this technology is becoming a key factor for manufacturers striving to meet environmental standards.
As consumer preferences shift towards smart, connected, and safer vehicles, the South Korea Electronic Rear Mirror Market is expected to continue evolving. Manufacturers are investing in innovations such as enhanced camera resolution, anti-glare technology, and integration with other ADAS features. Additionally, the development of regulations and standards for these mirrors is playing a critical role in shaping the market’s future, ensuring their widespread adoption across various industries.
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Foryou Corporation
GoodView
Shenzhen Teamspower Electronics Company
Harman International
STONKAM
Ficosa
Panasonic
Zhejiang Ruxin Intelligent Technology
EYYES
Gentex
MITO Corporation
Magna International
Nissan
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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 South Korea Electronic Rear Mirror Market
Optical Rear-View Mirrors
Digital Rear-View Mirrors
Camera-Based Rear-View Systems
Smart Rear-View Mirrors
Passenger Vehicles
Commercial Vehicles
SUVs and Crossovers
Electric Vehicles (EVs)
OEMs (Original Equipment Manufacturers)
Aftermarket
Blind Spot Detection
Night Vision Capabilities
Integrated Navigation Systems
Touch Screen Interface
Online Retail
Offline Retail
Automobile Dealerships
Specialty Automotive Shops
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the South Korea Electronic Rear 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. South Korea Electronic Rear Mirror Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea Electronic Rear Mirror Market, By Type
6. South Korea Electronic Rear Mirror Market, By Application
7. South Korea Electronic Rear Mirror Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea Electronic Rear Mirror Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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