Automotive Inside Rearview Mirrors Market - Growth, Trends, and Forecast (2020 - 2025)
|出版商||Mordor Intelligence LLP||商品編碼||938170|
|出版日期||內容資訊||英文 80 Pages
|汽車用內後視鏡市場-成長，趨勢，預測(2020年∼2025年) Automotive Inside Rearview Mirrors Market - Growth, Trends, and Forecast (2020 - 2025)|
|出版日期: 2020年05月01日||內容資訊: 英文 80 Pages||
The Automotive IRVM market is poised to register a CAGR of over 4 % during the forecast period (2020-2025).
Hybridization of mirrors augment the growth of market.
The automotive inside rearview mirror market is facing tough competition from new camera technologies. Leading automotive OEMs and interior rear-view manufacturers are integrating cameras with conventional mirrors to provide a better view of the drivers. In certain situations, the rear view of the vehicle through a mirror is blocked and causing hindrance to the driver's view. Thus, camera integration with the rearview mirror system has been the best solution so far in the automotive industry. For instance, if the seats and cargo area are fully packed, then the rear window view gets completely blocked. Hence, the camera works well in all conditions, and also, at night time, a camera would offer a better view than what a reflected mirror can. To overcome these occasional issues, many car manufacturers begin adopting the smart rear-view mirrors in their models. For instance,
For instance, Jaguar Land Rover 2019 Evoque comes equipped with a hybrid rearview mirror, this model is also the company's first mild hybrid car. Just with the flick of a switch, the mirror turns into a screen that displays the live video from the camera outside.
Chevrolet Traverse, Infiniti QX80, Nissan Armada are some of the other latest models which are equipped with the rear-view camera mirrors.
Asia-Pacific is Anticipated to Lead the Market
North America and Europe are mature markets with more limited growth potential, whereas the African market is in the early stages of development. On the other hand, the Asia-Pacific automotive industry is growing at the fastest rate.
Asia-Pacific region accounts for the largest share in the market owing to the availability of low-cost raw materials, cheap labor, and increasing government initiatives towards local manufacturing. In the region, China is one of the largest producers and consumers of electric vehicles as well as increasing demand for passenger cars sales in the countries like India, Japan, South Korea, etc., are likely to boost the demand for the inside rearview mirrors in the automotive industry.
Governments and administrations in developing and untapped markets are spending a major portion of their wealth on improving transportation and its safety. This will result in the sales growth of vehicles and also calls for additional features to suit the needs of vehicle safety.
The automotive market is moderately fragmented due to the presence of many local and global players such as Gentex Corporation, Magna International Inc., Samvardhana Motherson Reflectec amongst others. The market is transforming but the new technologies are right now available mostly in luxury vehicles and in a selected market and near future, it will not replace the conventional mirrors. As the laws are still with conventional mirrors. Although companies are increasing investment in R&D projects to provide more convenient and safer experience to the car owner without replacing the conventional mirrors. For instance,