US: 1.917.963.8646 (24x5)
UK: 44.330.808.0580 (24x5)
Worldwide: 91.703.051.960 (24x7)
Global Auto-Dimming Mirror Market 2021: By Application (Inside rear-view mirror, Outside rear-view mirror), By Vehicle Type (Passenger Vehicle, Commercial Vehicle), By Fuel Type (ICE, Hybrid, Electric)The Global Auto-Dimming Mirror market size was valued at USD $1.92 Billion in 2020, USD $2 Billion in 2021, forecasted to reach USD $2.08 Billion in 2022, and is projected to reach USD $2.84 Billion by 2030, and is anticipated to expand at a CAGR of 3.95% over the forecast period from 2020 to 2030. Global Auto-Dimming Mirror Market is the title of an upcoming market research report at Trusted Business Insights. The market has been studied comprehensively to present vital data and information, including the revenue shares of each segment, region, and country, revenue growth driving factors, and restraints. In addition, potential revenue opportunities in untapped regions and economies are also included. Key players and their details are presented in the company profile section of the report. This section comprises revenue details and financial information, recent developments, strategies, acquisitions & mergers, as well as geographic reach and footprint.
OverviewAn auto-dimming mirror helps to improve the visibility of a driver by eliminating and controlling glares caused by headlights of a tailing vehicle. This is done with the help of sensors installed in the mirrors that detect light coming from the headlights of trailing vehicles and eradicates the glare by darkening the mirror through a process called electrochromic. These types of mirrors comprise various advanced sensors and electrochromic material, which absorbs and reflects light that travels through it in the form of an electric voltage.
DynamicsThe growth of the global auto-dimming mirror market is attributed to the increasing incorporation of auto-dimming mirrors in vehicles in recent years. The auto-dimming mirror in a car helps to ensure safety, especially of the driver while driving in areas where there is low or no light. The availability of these products at low prices and in a wide variety of models are among some of the key factors fueling the growth of the global auto-dimming mirror market. In addition, government organizations in the US have issued orders to install auto-dimming mirrors in vehicles to prevent the risk of accidents at night. Many car manufacturers in India have started to install auto-dimming mirrors during production processes as a measure to ensure the safety of drivers. The growing need for safer and broader visibility as well as the easy and low installation costs are some of the factors that are driving revenue growth of the auto-dimming mirrors market. The increasing demand for auto-dimming mirrors with advanced features in addition to an ever-expanding automotive industry are factors that are expected to further the growth of the auto-dimming mirror market in the coming years. Furthermore, the introduction of road safety policies has urged automobile companies to mandate the adoption of auto-dimming mirrors in cars. Cloud-based auto-dimming mirrors are an upcoming trend that is expected to provide growth opportunities in the foreseeable future for market growth. Restraints: The high replacement costs of auto-dimming mirrors when compared to conventional mirrors is a factor that is expected to restrain this markets growth.
Regional Analysis:The Asia Pacific is expected to account for the majority revenue share over the foreseeable future. This is attributed to the increasing production and sales of vehicles in the region in recent years. The market in China will be a major revenue contributor in the region. China has a large manufacturing base for affordable vehicles equipped with the latest technologies. India and South Korea are also other major revenue contributors as these countries possess lucrative automotive industries. However, the market in India is expected to witness slower growth in the years to come. The market in North America is projected to account for significant growth over the next 10 years. The US market is a major revenue source in the region due to the increase in vehicle manufacturing and the increasing installation of advanced features in the vehicles.
Below are the leading companies profiled in this Auto-Dimming Mirror Market Report:
Chapter 1 Methodology and Scope