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Pulished Date January, 2021
ID: 10765
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Auto-Dimming Mirror Market Segmentation by Functionality (Connected and Non-Connected), By Application (Inside Mirror and Outside Mirror), By Vehicle Type (Passenger Vehicles and Commercial Vehicles) & By Region and Forecast till 2026

Pulished: January, 2021
ID: 10765
Pages: 175

Market Overview

In 2018, the global auto-dimming mirror market was valued at USD 1.86 billion and is projected to grow at a 5.3% CAGR to reach USD 2.77 billion by 2026.

An auto-dimming mirror avoids glares that are caused by the headlights of a tailing vehicle, improving visibility of drivers to ensure safety. These mirrors come with sensors, which detect light from the headlights of trailing vehicles, which through electrochromic, eradicate the glare by darkening the mirror. These mirrors comprise various advanced sensors and electrochromic material, which absorbs and reflects light differently when an electric voltage is passed through it. However, a high cost compared to conventional mirrors hinders the market growth.

Recent Developments

In November 2019, Gentex Corporation launched three new products at the SEMA show 2019. A brand-new auto-dimming mirror was also launched along with these products, equipped with a cloud-based home automation system and integrated the HomeLink button capable of operating through radiofrequency.

According to the India Brand Equity Foundation (IBEF), India's automotive industry was ranked 4th globally, with 4.02 million units sold in 2017. Automobile exports grew by 14.5% from 2018 to 2019 and are estimated to grow at a CAGR of 3.05% from 2016 to 2026.

Market Drivers

The rise in demand for advanced features, coupled with the surge in the automotive industry, propels the global auto-dimming mirror market growth. Besides, an increase in the need for safety in automobiles also boosts the development of the market. Furthermore, the development of cloud-based auto-dimming mirrors is foreseen to offer lucrative growth opportunities in the global auto-dimming mirror business.

Restraints

A key factor restraining the market's growth is the high installing expenditure and increasing demand for camera and display systems. The connected dimming mirror comprises of complex interlinking of electronic systems. It also raises the overall price of the vehicle. If the conventional mirror breaks, it is convenient to replace and cost-effective. Moreover, if the camera and display systems become cheaper and adopted by the OEMs, this technology can hinder the market for auto-dimming mirrors and might make this technology obsolete in future years. Therefore, the high price involved and substitutes such as camera and display system are restraining the market's growth.

Market Segmentation

By Application

The outer mirror segment is the fastest growing of the market during the forecast timeframe. The outer dimming mirrors' use is imperative in all types of vehicles. Passenger cars generally have two outer dimming mirrors. However, in LCVs, the number of outer dimming mirrors is higher than in passenger cars. Outer dimming mirrors often comprise features such as blind-spot detection and turn signal indicator. OEMs are increasingly offering these features in outer dimming mirrors.

By Functionality

The connected mirror is predicted to be the fastest-growing product of this market. Oppositely, the non-connected dimming mirror segment is estimated to be the largest shareholder. The demand for connected dimming mirrors is in the fast expansion stage. Leading OEMs provide the latest features in the auto-dimming mirror and are adopting connected dimming mirrors to gain a competitive advantage. While the connected dimming mirror market is supposed to expand at the highest rate, the non-connected mirror has the largest market size.

By Vehicle Type

The passenger vehicle segment is projected to grow at fastest during the forecast period. Future automobiles will need to satisfy stringent emission standards, and the best way to do it with exciting technologies also to reduce accidental damage. Increasing production and demand for the passenger is growing much higher than the previous period. Increasing consumption due to the better visibility property and rising popularity of rear-view mirrors with an auto-dimming mirror will create more market opportunities.

Regional Analysis

The Asia Pacific is estimated to control the market during the conjecture period. The region has emerged as a central automotive hub with most of the market share of vehicle production and sales. Almost every major automotive mirror manufacturer has a presence in the Asia Pacific region. The demand for auto-dimming mirrors is directly linked to vehicle production in this region. To cater to the increasing demand and capitalize on cost efficiencies, the companies involved in auto-dimming mirrors and their components have started concentrating on the Asia Pacific market. The area, being the largest market for automobiles, is estimated to witness a tremendous demand for auto-dimming mirrors in the coming years.

The market in North America is estimated to account for significant growth over the next ten years. The US market is a significant revenue source in the region due to increased vehicle manufacturing and the increasing installation of advanced vehicle features.

Europe's market is also expected to register a high growth rate over the next ten years as countries like the UK, Italy, and Germany have flourishing automotive industries.

Key Players

Some of the major manufacturers operating in the global auto-dimming mirror market are Gentex (US), Samvardhana Motherson Reflectec (Germany), Magna (Canada), Ficosa (Spain), Murakami (Japan), and others. These automotive manufacturers supply auto-dimming mirrors to automotive OEMs such as Volkswagen (Germany), General Motors (US), and Ford Motor (US).

Leading Company

Gentex

One of the significant rear-view reflects manufacturers, Gentex, presented the world's first electromechanical auto-darkening mirrors and is a noteworthy player in the automotive business. As of late, the organization gained Homelink from Johnson Controls and is at present working on coordinating this innovation in its auto-dimming rear-view mirrors.

Impact of COVID-19 on Auto Dimming Market 

The coronavirus pandemic had an immediate and critical impact on the globally integrated automotive industry. Symptoms include a disruption in Chinese parts exports, large scale manufacturing interruptions across Europe, and assembly plants' closure in the United States. It is placing intense pressure on an industry already coping with a downshift in global demand, negatively impacting the global auto-dimming mirror market. Furthermore, transportation restrictions and supply chain disruptions have created a logistical ordeal for market players, leading to severe automotive product shortages globally.

1. Introduction                            

          1.1 Market Definition                  

          1.2 Scope of the report               

          1.3 Study Assumptions               

          1.4 Base Currency, Base Year and Forecast Periods              

2. Research Methodology                      

          2.1 Analysis Design          

          2.2 Research Phases                   

                    2.2.1 Secondary Research 

                    2.2.2 Primary Research     

                    2.2.3 Data Modelling        

                    2.2.4 Expert Validation     

          2.3 Study Timeline            

3. Report Overview                     

          3.1 Executive Summary               

          3.2 Key Inferencees          

4. Market Dynamics                    

          4.1 Impact Analysis           

                    4.1.1 Drivers

                    4.1.2 Restaints       

                    4.1.3 Opportunities 

          4.2 Regulatory Environment                  

          4.3 Technology Timeline & Recent Trends                  

5. Competitor Benchmarking Analysis                        

          5.1 Key Player Benchmarking                 

                    5.1.1 Market share analysis         

                    5.1.2 Products/Service      

                    5.1.3 Regional Presence    

          5.2 Mergers & Acquistion Landscape               

          5.3 Joint Ventures & Collaborations                 

6. Market Segmentation                        

          6.1 Auto-Dimming Mirror Market, By Functionality               

                    6.1.1 Connected     

                    6.1.2 Non-Connected        

                    6.1.3 Market Size Estimations & Forecasts (2019-2024)        

                    6.1.4 Y-o-Y Growth Rate Analysis         

                    6.1.5 Market Attractiveness Index         

          6.2 Auto-Dimming Mirror Market, By Application                 

                    6.2.1 Inside Mirror  

                    6.2.2 Outside Mirror         

                    6.2.3 Market Size Estimations & Forecasts (2019-2024)        

                    6.2.4 Y-o-Y Growth Rate Analysis         

                    6.2.5 Market Attractiveness Index         

          6.3 Auto-Dimming Mirror Market, By Vehicle Type               

                    6.3.1 Passenger Vehicles   

                    6.3.2 Commercial Vehicles

                    6.3.3 Market Size Estimations & Forecasts (2019-2024)        

                    6.3.4 Y-o-Y Growth Rate Analysis         

                    6.3.5 Market Attractiveness Index         

7. Geographical Landscape                    

          7.1 Global Identity Governance and Administration Market, by Region                   

          7.2 North America - Market Analysis (2018 - 2024)             

                    7.2.1 By Country     

                              7.2.1.1 USA

                              7.2.1.2 Canada

                    7.2.2 By Functionality        

                    7.2.3 By Application

                    7.2.4 By Vehicle Type        

          7.3 Europe             

                    7.3.1 By Country     

                              7.3.1.1 UK

                              7.3.1.2 France

                              7.3.1.3 Germany

                              7.3.1.4 Spain

                              7.3.1.5 Italy

                              7.3.1.6 Rest of Europe

                    7.3.2 By Functionality        

                    7.3.3 By Application

                    7.3.4 By Vehicle Type        

          7.4 Asia Pacific                 

                    7.4.1 By Country     

                              7.4.1.1 China

                              7.4.1.2 India

                              7.4.1.3 Japan

                              7.4.1.4 South Korea

                              7.4.1.5 South East Asia

                              7.4.1.6 Australia & NZ

                              7.4.1.7 Rest of Asia-Pacific

                    7.4.2 By Functionality        

                    7.4.3 By Application

                    7.4.4 By Vehicle Type        

          7.5 Latin America             

                    7.5.1 By Country     

                              7.5.1.1 Brazil

                              7.5.1.2 Argentina

                              7.5.1.3 Mexico

                              7.5.1.4 Rest of Latin America

                    7.5.2 By Functionality        

                    7.5.3 By Application

                    7.5.4 By Vehicle Type        

          7.6 Middle East and Africa          

                    7.6.1 By Country     

                              7.6.1.1 Middle East

                              7.6.1.2 Africa

                    7.6.2 By Functionality        

                    7.6.3 By Application

                    7.6.4 By Vehicle Type        

8. Key Player Analysis                           

          8.1 Gentex             

                    8.1.1 Business Description

                    8.1.2 Products/Service      

                    8.1.3 Financials      

                    8.1.4 SWOT Analysis         

                    8.1.5 Recent Developments         

                    8.1.6 Analyst Overview      

          8.2 Samvardhana Motherson Reflectec             

          8.3 Magna              

          8.4 Ficosa              

          8.5 Murakami                   

9. Market Outlook & Investment Opportunities                     

Appendix                         

          List of Tables          

          List of Figures                  

  • Global and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
  • Segment-level analysis in terms By Cutting Systems and estimations to detect key areas of industry growth in detail
  • Identification of key drivers, restraints, opportunities and challenges (DROC) in the market and their impact on shifting market dynamics
  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
  • Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analyzing the level of competition and business strategy development
  • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
  1. Global Auto-Dimming Mirror  Market By Region, From 2020-2025 ( USD Billion )
  2. Global Auto-Dimming Mirror  Market By Functionality, From 2020-2025 ( USD Billion )
  3. Global Connected Market By Region, From 2020-2025 ( USD Billion )
  4. Global Non-Connected Market By Region, From 2020-2025 ( USD Billion )
  5. Global Auto-Dimming Mirror  Market By Application, From 2020-2025 ( USD Billion )
  6. Global Inside Mirror Market By Region, From 2020-2025 ( USD Billion )
  7. Global Outside Mirror Market By Region, From 2020-2025 ( USD Billion )
  8. Global Auto-Dimming Mirror  Market By Vehicle Type, From 2020-2025 ( USD Billion )
  9. Global Passenger Vehicles Market By Region, From 2020-2025 ( USD Billion )
  10. Global Commercial Vehicles Market By Region, From 2020-2025 ( USD Billion )

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