New York, United States, March 13, 2024 (GLOBE NEWSWIRE) -- The implementation of an auto-dimming mirror effectively manages or eradicates the presence of glare resulting from the headlights of a trailing vehicle, thus enhancing the visual clarity of drivers and facilitating the execution of safe driving practices. The mirrors are equipped with sensors that utilize electrochromism to detect light emitted by the headlights of trailing vehicles. This detection process enables the mirrors to darken, effectively eliminating glare.
The mirrors are composed of a variety of sophisticated sensors and electrochromic material that exhibit differential light absorption and reflection properties when subjected to an electric voltage. These sensors are designed to detect a stronger light source during nighttime or in low-light conditions.
Download Free Sample Report PDF @ https://straitsresearch.com/report/auto-dimming-mirror-market/request-sample
Market Dynamics
Increasing Demand for Advanced Features Drives the Global Market
According to Straits Research, “The global auto-dimming mirror market size was valued at USD 2,265.23 million in 2022. It is expected to reach USD 3,545.18 million by 2031, registering a CAGR of 5.1% during the projected period (2023–2031).” The global market for auto-dimming mirrors is anticipated to rise due to an increased consumer preference for advanced features in vehicles, including but not limited to dimming mirrors, LED headlights, parking assists, and lightning assistance. While the inclusion of these modern amenities does increase the overall cost of the car, buyers are willing to allocate additional funds to avail themselves of innovative, convenient, and pleasant features.
The rising sales of premium automobiles positively influence the global auto dimming market. The sales performance of luxury automobile products by original equipment manufacturers (OEMs) has exhibited robustness, as evidenced by the positive growth reported by prominent manufacturers such as Ferrari, Mercedes, BMW, and Volvo in 2018.
Production of Cloud-Based Auto Dimming Mirrors Creates Tremendous Opportunities
The incorporation of the Internet of Things (IoT) and cloud-based features into auto-dimming mirrors is expected to increase significantly, resulting in economic prospects on a global scale. Garage doors, wireless gate controls, temperature and tire pressure monitors, GPS systems, blind spot detection, Bluetooth and hands-free communication, garage doors, home lighting, and other home automation capabilities are among the features available.
Furthermore, in order to compete in the global market, numerous organizations are focusing on inventing new goods with these attributes. For instance, Gentex Corporation debuted three new items at the SEMA Show 2019 in November 2019. The company introduced a new auto-dimming mirror with an integrated HomeLink button that can operate via radio frequency and a cloud-based home automation system. As a result, the manufacture of cloud-based auto-dimming mirrors is expected to present significant potential prospects for market participants.
Report Scope
| Study Period | 2019-2031 | CAGR | 5.1% |
| Historical Period | 2019-2021 | Forecast Period | 2023-2031 |
| Base Year | 2022 | Base Year Market Size | USD 2,265.23 Million |
| Forecast Year | 2031 | Forecast Year Market Size | USD 3545.18 Million |
| Largest Market | Asia Pacific | Fastest Growing Market | Europe |
Regional Analysis
Asia-Pacific is the most significant global auto-dimming market shareholder and is expected to grow at a CAGR of 6.31% over the forecast period. Asia-Pacific includes developing countries such as China, Japan, India, and South Korea, continuously improving advanced automobile technology. The region is projected to keep its position as the world's largest contributor to the worldwide market over the forecast period. In addition, the region's major automakers are releasing a new line of vehicles equipped with auto-dimming rearview mirrors, which should fuel the industry's expansion. For instance, the Indian carmaker Tata Motors introduced the new Tata Harrier BS6 on February 3, 2020. This vehicle boasts advanced technologies such as auto-dimming rearview mirrors and a next-generation Kryotec diesel engine, which will fuel the market's growth.
Key Highlights
- Based on the application, the global auto dimming mirror market is divided into inside and outside rear-view mirrors. The inside rear-view mirror segment dominates the global market and is predicted to exhibit a CAGR of 4.3% during the forecast period.
- Based on vehicle type, the global auto dimming mirror market is categorized into passenger and commercial vehicles. The passenger vehicle segment is the highest contributor to the market and is predicted to exhibit a CAGR of 4.8% during the forecast period.
- Based on fuel type, the global auto dimming mirror market is categorized as an internal combustion engine, hybrid, and electric. The internal combustion engine segment dominates the global market and is expected to exhibit a CAGR of 4.8% during the forecast period.
- Asia-Pacific is the most significant global auto-dimming market shareholder and is expected to grow at a CAGR of 6.31% over the forecast period.
Competitive Players
Key players operating in the global auto dimming mirror market are Ficosa, Flabeg, Gentex Corporation, Honda Lock, Konview, Magna, Murakami Corporation, Samvardhana Motherson Group, Shenzhen Germid Co., Ltd., and Tokairika, Co, Ltd.
Market News
- In April 2023, Ficosa, a leading global company focused on creating, manufacturing, and promoting innovative vision, safety, and efficiency solutions for the automotive sector, anticipates selling over 7 million cameras by 2023. Ficosa's vision portfolio includes in-vehicle and out-of-vehicle cameras to drive solutions for improved safety and comfort in mobility.
- In January 2023, Ficosa, a major global firm in the research, development, production, and marketing of advanced vision, safety, and efficiency solutions for the automobile industry, is still building future mobility. The company announced its entry into the in-cabin monitoring (ICM) segment through various disruptive projects it is developing for premium car manufacturers (OEMs).
Global Auto Dimming Mirror Market: Segmentation
By Applications
- Inside rear-view mirror
- Outside rear-view mirror
By Vehicle Type
- Passenger Vehicle
- Commercial Vehicle
By Fuel Type
- Internal combustion engine (ICE)
- Hybrid
- Electric
By Regions
- North America
- Europe
- Asia-Pacific
- LAMEA
Get Detailed Market Segmentation @ https://straitsresearch.com/report/auto-dimming-mirror-market/segmentation
About Straits Research Pvt. Ltd.
Straits Research is a market intelligence company providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision-makers. Straits Research Pvt. Ltd. provides actionable market research data, especially designed and presented for decision making and ROI.
Whether you are looking at business sectors in the next town or crosswise over continents, we understand the significance of being acquainted with the client’s purchase. We overcome our clients’ issues by recognizing and deciphering the target group and generating leads with utmost precision. We seek to collaborate with our clients to deliver a broad spectrum of results through a blend of market and business research approaches.
For more information on your target market, please contact us below:
Phone: +1 646 905 0080 (U.S.)
+91 8087085354 (India)
+44 203 695 0070 (U.K.)
Email: sales@straitsresearch.com
Follow Us: LinkedIn | Facebook | Instagram | Twitter
