Exclusive Report on Global Video Rearview Mirror Industry: to grow at a whopping rate of CAGR 17.24%

The global Video Rearview Mirror market size is growing at a CAGR of 17.24% from 2021 to 2028.

This growth is attributed to:
● The growing demand for safety systems as automotive rearview mirrors are crucial for the safety of both the passengers and other drivers on the road. Standards and laws pertaining to this product are demanding, which makes it essential that all vehicles include them.
● The increase in the number of vehicles as consumer spending around the world has been on a steady incline for years now due to an increase in disposable income.
● The increasing amount of traffic that congested roads have been causing over the last decade or so to realize that accidents caused by blind spots from side mirrors are still very much an issue today.

However, the high cost of these mirrors causes hindrance to the market, as due to heavy competition, manufacturers cannot burden these high costs on the end prices.

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The recently published research report on Global Video Rearview Mirror Market by Evolve Business Intelligence examines the industry in the context of major market aspects including market size & forecast, market shares in terms of revenues and volume, key players, and SWOT analysis. The market is analyzed based on 4 separate indications in the market dynamic chapter: Drivers, Restraints, Key Trends, and Challenges. The total sum of these sections will help you understand what strategies will be best to adopt in order to prosper through this industry over a few short years. The quantitative analysis includes our actual findings out of this research study where we provided additional insight into what our readers can do to embrace new opportunities or plan against threats that might hinder the market.

The COVID-19 pandemic has led to disruption in the supply chain leading to lower demand or supply shortages in the Video Rearview Mirror market. The travel restrictions and social-distancing measures have resulted in a sharp drop in consumer and business spending and this pattern is expected to continue for some time. The end-user trend and preferences have changed due to the pandemic and have resulted in manufacturers, developers, and service providers adopting various strategies to stabilize the company.

The New Normal
As businesses recover from the COVID-19 pandemic, they have a new set of priorities to cope with. Throughout this crisis, they were forced to deal with shifting situations and often fell short of their ultimate goals. Now that a cure has been found and the pandemic is dying down, they will need to recuperate from this epidemic by setting forth new objectives to succeed in the future.

In terms of COVID 19 impact, the Video Rearview Mirror market report also includes the following data points:
● COVID19 Impact on Video Rearview Mirror market size
● End-User/Industry/Application Trend, and Preferences
● Government Policies/Regulatory Framework
● Key Players Strategy to Tackle Negative Impact/Post-COVID Strategies
● Opportunity in Video Rearview Mirror market

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Key Players
Some of the major Video Rearview Mirror players holding a high market share include FLABEG Holding GmbH (Germany), Ficosa International S.A. (Spain), and Magna International Inc. (Canada). These players use acquisition and expansion as a key strategy to gain significant market share to compete with market leaders.

The key players profiled in the report are:
● Valeo
● Magna International Inc
● Gentex Corporation
● Ficosa Internacional SA
● Continental AG
● ICHIKOH INDUSTRIES, LTD
● NISSAN MOTOR CORPORATION
● Burco Inc
● Murakami Corporation
● Panasonic Corporation

Segmental Analysis

Market Segment By Location with focus on market share, consumption trend, and growth rate of Video Rearview Mirror Market:
o Side rear-view mirror
o Windshield rear-view mirror

Market Segment By distribution channel with a focus on market share, consumption trend, and growth rate of Video Rearview Mirror Market:
o OEMs
o Aftermarket

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Key Region/ Countries Covered
● North America (US, Canada, Mexico)
● Europe (Germany, U.K., France, Italy, Russia, Rest of Europe)
● Asia-Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
● Rest of the World (the Middle East & Africa and South America)

The North American market is one of the largest automotive markets in the world and SUVs and mini trucks plying on the roads make this market potentially strong for the growth of rearview mirror systems.
The Asia-Pacific region is called "The future automotive hub of the world" owing to the rising middle class and increasing purchase power. This region shows huge potential for Rear View Mirrors Systems because it also needs safety features required by its people like lane change assistance, blind spot detection & warning system (park assist) lane departure warning, etc.
The growing number of vehicles in Europe makes this region a potential market for RiVM since it will help reduce casualties by alerting drivers about vehicles traveling behind them.

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