Automotive Auto Dimming Mirror Market Overview
The global automotive auto dimming mirror market is expected to see substantial growth in the coming years due to increasing concerns for passenger safety, rise in production of passenger cars, and increasing demand for luxury features in passenger cars. The increasing number of road accidents across the world is a prime concern for passengers and drivers. To reduce accidents, vehicle manufacturers are integrating different safety features in automotive mirrors. This integration of safety features in vehicles is expected to drive the automotive auto dimming mirror market during the forecast period. These mirrors significantly reduce the glare of light coming from the trailing vehicles, thereby increasing visibility and reducing driver’s fatigue.
On the basis of type, the global automotive auto dimming mirror market is segmented into connected and non-connected dimming mirror. Of the two, connected dimming mirror is expected to witness faster growth during the forecast period, due to incorporation of features such as Bluetooth connectivity, travel calculation, weather condition, navigation and temperature display.
On the basis of vehicle type, the automotive auto dimming mirror market is bifurcated into passenger car (PC) and light commercial vehicle (LCV). PC is expected to be the largest category during the forecast period, owing to its high demand coming in from emerging economies such as India and China.
On the basis of application, automotive auto dimming mirror market is categorized into inside rear-view mirror (IRVM) and outside rear-view mirror (ORVM). IRVM is expected to hold the largest share in the industry during the forecast period, owing to its extensive usage in automobiles coupled with additional safety features incorporated in them, such as weather condition, navigation, temperature display etc.
Globally, Asia-Pacific has been the largest automotive auto dimming mirror market till now. The increasing vehicle sales, especially of passenger cars in countries such as China and India, are expected to benefit the market. In addition, the shift in preference of customers from car mileage to advanced safety features is another factor driving the growth of the market in this region.
Automotive Auto Dimming Mirror Market Dynamics
As safety has become the prime concern of vehicle buyers, technological advancements in driver assistance system is a major factor driving the growth of automotive auto dimming mirror market. Driver assistance systems are continuously evolving over the past few years in order to provide more safety features to the drivers and passengers. Vehicle manufacturers and original equipment manufacturers (OEMs) are incorporating various features to augment the safety and ease of drivers which is leading to increased adoption of these mirrors. In addition, several government agencies such as National Highway Traffic Safety Administration (U.S.) mandates the use of these mirrors to prevent road accident, thereby driving the market growth.
The growing use of display-based systems, such as thermographic camera as mirror to enhance safety is a major factor restraining the growth of these mirrors in the automotive industry. In addition, high installation cost, and operational and functional issues related to these mirrors are some of the other major restraints affecting the automotive auto dimming mirror market.
Automotive Auto Dimming Mirror Market Competitive Landscape
The market is characterized by the presence of a considerable number of automotive auto dimming mirror manufacturers, and the competition among them is fierce. One of the major players in the industry is Gentax Corporation. The company manufactures and sells auto dimming mirrors and camera-based driver assistance systems for automobiles. The company supplies mirrors to several automotive companies including Ford Motor Company, Audi AG, Fiat Chrysler Automobiles NV, BMW Group, General Motors, and Rolls-Royce Holding PLC.
The other leading players in the industry include Samvardhana Motherson Reflectec Group Holdings Limited, Ficosa International, S.A., MURAKAMI CORPORATION, Magna International Inc., ICHIKOH INDUSTRIES, LTD., and Konview Electronics Corporation Limited.