Press release
Automotive Mirror Dimming Market Review 2018 to 2023: By Inside Rear-View Mirror, Outside Rear-View Mirror, Size, Share, and Region
Global Automotive Mirror Dimming Market Highlights:
Global automotive mirror dimming market has witnessed gradual growth in recent years, and is expected to grow steadily in the forecast period. The global automotive mirror dimming market is primarily driven due to increasing awareness about vehicle and passenger safety. The safety of passengers and vehicles, has become the prime concern of vehicle buyers. According to the global status report on road safety 2015, more than 1.2 million road traffic deaths occur each year, globally. To reduce these accidents, OEMs (Original Equipment Manufacturers) are integrating different safety features in automotive mirrors. This integration of safety features is expected to drive the automotive mirror dimming market.
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Global automotive mirror dimming market augments the safety and ease of the driver, as they do not require the driver to adjust the inside rear-view mirror (IRVM) and outside rear-view mirror (ORVM). Automotive mirror dimming can control the movement of the rear-view mirror at various speeds when the system is switched on. Improvement in the technological advancement, rise in production of vehicles, and increase in demand for luxury features, are the key factors that drive the automotive mirror dimming market. Implementation of automotive mirror dimming, is driven by the rise in use of advanced electrical features in vehicles. However, their demand has increased due to rise in the number of road accidents, across the world. The overall cost of vehicles has increased due to the integration of advanced electrical feature, which acts as a restraint to the automotive mirror dimming market.
Global automotive mirror dimming market has been segmented based on fuel types, applications, vehicle types, functionalities and regions. Based on fuel types the market is segmented as battery electric vehicle (BEV), internal combustion engine (ICE) and hybrid vehicle. Battery electric vehicle is expected to grow at the highest rate due to increase in production of new electric vehicle, across the globe. Based on applications, the market is segmented as inside rear-view mirror (IRVM), and outside rear-view mirror (ORVM). Inside rear-view mirror (IRVM) is expected to have the highest share of the global automotive mirror dimming market owing to its growing application, in all types of vehicles. Based on functionalities the market is segmented as connected and non-connected. Connected auto dimming mirrors stand for dimming mirrors integrated with various other features to provide safety and convenience to drivers while driving. Based on vehicle type the market is segmented as passenger vehicle and commercial vehicle. Passenger vehicle is expected to hold the highest share in global automotive mirror dimming market due to rise in the sales of passenger vehicle.
Geographic Analysis:
The global automotive mirror dimming market is expected to witness a phenomenal growth during the forecast period. This is due to development of automotive manufacturing industries in developing economies such as China and India. Availability of low-cost automation in manufacturing and innovation in engineering, focus on fuel efficiency and sustainability, and the rising vehicle production levels, drive the market of automotive mirror dimming market. The Asia Pacific region is currently the leading region in global automotive mirror dimming market, and is followed by Europe and North America.
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