A recent report published by Infinium Global Research on the auto-dimming mirror market provides an in-depth analysis of segments and sub-segments in global as well as regional auto-dimming mirror market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional auto-dimming mirror market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global auto-dimming mirror market. According to the report, the global auto-dimming mirror market is projected to grow at a CAGR of 3% over the forecast period of 2018-2024.
Auto-dimming mirrors are the special type of rear view mirrors that have the capability to eliminate the glare coming from the headlights of a vehicle. Auto-dimming mirror market system is equipped with sensors that respond to the intensity of light and act accordingly. The auto-dimming mirror market counters the light intensity in proportion to the brightness emitted by the headlights, by automatically turning the mirrors turn dark. Dimming of both interior and exterior mirrors can be controlled using interior mirror’s sensors and electronic equipment’s. Sensors are placed at mirrors of the vehicle making the auto-dimming mirrors more efficient.
Increasing consumer preference for safer and broader visibility is driving the growth of the auto-dimming mirrors. Besides this, an increasing number of passenger vehicles, as well as commercial vehicles, are augmenting the market growth. Manufactures use auto-dimming mirrors as a differentiating product that in order to attract the potential buyer, which in turn is boosting the growth of the market. Features that are integrated with dimming mirrors such as temperature display, hands-free connectivity, Bluetooth, and navigation are expected to grow at the highest rate of the auto-dimming mirror during the forecast period. However, the high cost of the auto-dimming mirror is restraining the growth of the auto-dimming mirror. A growing focus on inclusion of auto-dimming mirrors as built features within the mid and small segment vehicles in order to provide advanced safety and convenience features is expected to provide potential opportunities in the auto-dimming mirror market.
Among the geography, Asia Pacific region dominated the global automotive parking sensor market. Rapid growth in automobile sales and increasing demand for luxury vehicles in the U.S. and Canada is expected to propel the growth in this region. APAC region is expected to grow at the highest CAGR during the forecast period. The European region is expected for the growth of safety features in the vehicles in the market of the auto-dimming mirror. The increasing vehicle sales, especially of passenger cars in countries such as China and India, are expected to benefit the auto-dimming mirror market.
The report on global auto-dimming mirror market covers segments such as application, functionality, vehicle type, and distribution channel. On the basis of application, the global auto-dimming mirror market is categorized into the inside rear view and outer rear view. On the basis of functionality, the global auto-dimming mirror market is categorized into connected, and non-connected. On the basis of vehicle type, the global auto-dimming mirror market is categorized into passenger vehicle and commercial vehicle. On the basis of the distribution channel, the global auto-dimming mirror market is categorized into original equipment manufacturers and aftermarket.
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. In this section, the key trends and market size for each geography are provided over the period of 2016-2024. The countries covered in the North America region include the U.S., Canada, and Mexico; while the Asia-Pacific region includes countries such as China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are the major markets included in the European region. The U.S. drives the growth in the North America region, as it is the largest market in the region. In the Asia-pacific region, rapid industrial growth in India and China offer substantial potential for the growth in the auto-dimming mirror market. As a result, the APAC region is projected to experience growth at a CAGR of x.x% over the forecast period 2018-2024.
The report provides profiles of the companies in the global auto-dimming mirror market such as Ficosa Internacional SA, ICHIKOH INDUSTRIES, LTD, MURAKAMI CO., LTD., Magna International Inc., Samvardhana Motherson Group, Gentex Corporation, Magna, TOKAIRIKA, CO,LTD., SL Corporation, SHENZHEN GERMID CO., LTD., and Honda Lock Mfg. Co., Ltd.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the global auto-dimming mirror. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of auto-dimming mirror. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the auto-dimming mirror market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players. This report will help manufacturers, suppliers, and distributors of the auto-dimming mirror market to understand the present and future trends in this market and formulate their strategies accordingly.