Auto Dimming Mirror Market Size, Share & Growth Report 2031

Report Description

The global auto dimming mirror market size was valued at USD 2.25 Billion in 2022 and is likely to reach USD 3.38 Billion by 2031, expanding at a CAGR of 5.2% during the forecast period, 2023–2031. Rising demand for advanced built-in auto-dimming rare view mirror (RVM) systems in commercial vehicles is anticipated to boost market growth.
 
The rapid growth of auto-dimming mirrors is due to the increasing demand for commercial and private vehicles across the globe. Auto-dimming mirrors are commonly used for almost every vehicle type, especially in commercial vehicles, the demand for advanced auto-dimming mirrors is increasing as these vehicles are commonly used for transportation purposes. 

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The automatic dimming mirrors are smart rearview mirrors that improve night vision for the drivers. These mirrors help drivers by improving road visibility during the night. Moreover, the rising popularity of technologically advanced rare view mirror (RVM) systems, such as digital, and 360° rare view systems. 

The mirrors detect the light source with the help of photosensors to nullify the glaring effect of the harsh light coming from the tailing vehicle. The rising awareness regarding vehicle safety features and the increasing casualties due to road accidents is expected to boost the market growth in the coming years.

• For instance, according to the report published by CDC on January 10, 2023, about 1.35 million people are killed globally in road accidents, each year; whereas, about 3700 people are killed across the globe in crashes involving cars, buses, motorcycles, bicycles, trucks, and pedestrians.

At the outset of the COVID-19 pandemic, the market faced a sharp decline in revenue generation. Governments across the globe had executed travel restrictions to control the spread of the infection. This resulted in restricted travel & transport activities which further led to the truncation in raw materials supply and vehicle demand from the consumers, thereby restraining the market.

• For instance, according to the data published on December 8, 2021, the market registered a global drop in sales that popular vehicle manufacturers such as Volkswagen had to shut down their manufacturing units in Europe while registering a loss of 30 million euros, whereas Toyota marked a loss of about 2 trillion Yen. 

Auto Dimming Mirror Market Dynamics

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Major Drivers

Increasing demand for anti-glare rear-view mirrors is expected to drive the market. Automatic dimming mirrors are used in the vehicle’s rare vision system. The mirrors are embedded with electrochromic gels and photo sensors to detect the glare coming from tailing vehicles and streetlights. The overall mechanism of the mirror helps the visible to remove the glare from the surface of the mirror and provides a glare-free rare picture to the driver. This, in turn, is expected to drive the market.

Rising concerns regarding the increasing number of deaths and injuries due to accidental cases led to rising awareness regarding vehicle safety gadgets and features. This encourages the key players in the market to design the latest designs of commercial and private vehicles with advanced safety features and gadgets. Moreover, governments around the world are taking initiatives to spread awareness regarding safe driving which in turn drives the market.

• For instance, according to the recently published survey on January 10, 2023, about 5,250,837 car accidents occurred in the US in 2020 causing fatal injuries, deaths, and property damage United States.

Existing Restraints

The high cost of installation of automatic dimming mirrors is expected to restrain the market growth. The digital RVM system is a recently developed feature that needs to be newly installed in older vehicles. As the system is more expensive than the conventional ones, vehicle owners are less likely to install one in their old cars.

The outside rearview mirrors are more prone to damage due to accidents, compared to the inside RVM. Furthermore, the auto-dimming mirrors have less scope for repair and maintenance of the mirrors which further hampers the market growth.

Emerging Opportunities

The rising adoption of digital rearview mirrors is a major market opportunity. Traditionally used rearview mirrors are fitted inside the vehicle at the center of the front seats. Depending upon the structure of the vehicle, such mirrors are prone to have maximum blind spots providing limited rear sight to the driver.

A digital rearview mirror ensures a reduced number of blind spots for a mirror and provides a view to the driver. This camera is fitted just above the number plate of the vehicle and is enabled with the automatic dimming feature of the mirror. This ensures clear visibility for the driver while changing lanes which is expected to propel the market growth.

Scope of Auto Dimming Mirror Market Report

The market report includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Auto Dimming Mirror Market Segment Insights

Types Segment Analysis 

Based on type, the auto-dimming mirror market is divided into inside rearview mirrors (IRVM), and outside rearview mirrors (ORVM). The outside rearview mirrors segment held a major market share in 2022 as they provide additional traffic insights to the driver. With the help of these mirrors, the driver ensures to keep a safe distance from traffic to the sideways, and behind the vehicle.

The key market players competing in the market are focusing on incorporating the ORVM with the automated dimming mirror technology, to provide a complete set of mirrors, that function reliably in the dark. This, in turn, is expected to boost the segment. 

The inside rearview mirror (IRVM) segment is expected to expand at a significant growth rate during the projection period owing to its high utility. The IRVM is placed inside the vehicle and provides an efficient rear view of the vehicle to the driver, without having to look behind. Unlike ORVM, the mirror is less prone to accidental damage.

In recent decades, the digitally powered IREM is gaining popularity due to its impeccable imaging of objects which is captured by the camera and is displayed on the front screen, being captured by the camera fitted at the back of the vehicle. The distance from the following vehicles and the anti-glare sight provided to the driver is one of the major factors expected to fuel the segment’s growth in the coming years.

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End-use Segment Analysis

On the basis of end-use, the market is segregated into commercial vehicles and passenger vehicles. The commercial vehicle segment dominated the market in 2022, owing to the increasing demand for technologically advanced transportation vehicles.

Automobile manufacturers brought innovative technological solutions to commercial vehicles such as the integration of complete auto-dimming mirror systems, 360° digital rear view cameras, compact and high definition (HD) video screens for comprehensive rear view insights, and others are the factors that promoted the segment growth.

The increasing logistic activities such as transportation of goods and materials, mining, and construction activities contributed to the segment growth across the world, adding to the segment’s growth by respectively increasing the demand for commercial vehicles. Moreover, companies present in the market are focusing on launching advanced features in heavy-duty vehicles of safety measures, which is expected to drive the segment in the coming years. 

• For instance, on January 18, 2023, Magna International Inc. launched its advanced ClearView vision technology in the Ram2500 and about 3500 other heavy-duty trucks. The mirrors can move flexibly and allow the user to zoom in and out to get a clearer picture while providing adjustable brightness. 

The passenger vehicle segment is projected to register a considerable CAGR during the forecast period owing to the rising tourism across the globe in the post-pandemic period. Urbanization leads to an upsurge in demand for passenger cars such as cars and vans across the world. 
 

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Regional Analysis

In terms of region, the global auto dimming mirror market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America dominated the market in 2022 owing to the stringent vehicle safety rules in the regions issued by the concerned governments. The increasing number of road accidents leads to rising concerns about vehicle safety, thereby the demand for built-in vehicle safety features is rapidly growing in commercial vehicles.

• According to recently published data, about 11 million commercial vehicles have been sold in the United States in 2022. This includes vehicles used for public transportation as well as goods & services.

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