Future Market Insights
The main function of automotive rear view mirror is to give the driver a clear vision of all the objects to the side or rear of the vehicle. In order to ensure safety, manufacturers are focussing on novel technologies for the development of innovative automotive rear view mirrors. For instance, a recently launched rear view mirror incorporates a rear camera, where the whole display mirror is converted into a video display that provides a panoramic view of the objects behind the vehicle.
Significant efforts have been made by automobile and component manufacturers to reduce aerodynamics drag, noise and vibration. However, less attention has been drawn for the refinement of performance of automobile side rear view mirror, especially mirror vibration. Rear view mirrors are used in four wheelers as well as two wheelers. In the case of four wheelers, two types of rear view mirrors are used; windshield rear view mirrors and side view mirrors. In California, the law states that the vehicle should have two rear view mirrors to ensure the safety of passengers inside the vehicle.
Global Automotive Rear View Mirror Market: Dynamics
The growing demand for safety systems coupled with increase in number of vehicles is expected to fuel the demand for global automotive rear view mirror market. Moreover, standards and laws pertaining to automotive rear view mirrors are further upsurge the demand for automotive rear view mirror market during the forecast period. However, smart mirrors, which increases the cost of the vehicle can act as a challenge for the growth of automotive rear view mirror market.
Global Automotive Rear View Mirror Market: Restraints
With the advancement in technology, concept cars are coming with camera installed instead of mirrors. Cameras possess numerous advantages over traditional automotive rear view mirrors and help improve safety. This leap in technology is projected to restrict the growth of the global automotive rear view mirror market.
Japan is expected to be the first country, which allows camera instead of mirror. Later on, European legislations will also permit this technology to reach stores by 2019. The luxury car manufacturers are estimated to adopt this technology in their upcoming models owing to the higher cost associated with cameras, as compared to traditional automotive rear view mirrors.
Global Automotive Rear View Mirror Market: Trend
Nowadays, electronic rear view mirrors are replacing traditional rear view mirrors in the form of display and camera. This smart automotive rear view mirror integrates driving recorder, electronic speed detection alerting, GPS, ADAS, navigation system, entertainment, gesture recognition and voice operation. Various manufacturers are investing in smart mirror technology to capture market share.
Smart mirrors also incorporate the functions of auto dimming, electric control, memory and heating. These functions of automotive rear view mirrors are primarily assembled in luxury and mid-range vehicles.
Global Automotive Rear View Mirror Market: Segmentation
On the basis of position, the global automotive rear view mirror can be segmented into:
On the basis of vehicle type, the global automotive rear view mirror can be segmented into:
Global Automotive Rear View Market: Market Participants
Some of the examples of the market participants in the global automotive rear view mirror market identified across the value chain include:
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