According to the Market Statsville Group (MSG), the global auto dimming mirror market size is expected to grow from USD 1,910.4 million in 2021 to USD 2,514.6 million by 2030, at a CAGR of 3.1% from 2022 to 2030. An auto-dimming mirror, or a self-dimming mirror, is an automotive mirror that regulates or eliminates glare generated by tailing cars' headlights. It comprises electrochromic materials and sensors that absorb and reflect light from cars while also reducing glare by darkening the mirror. During the night or in poor lighting, the sensors detect a bright light source and create an electric charge through a low voltage power supply inside the mirror. This electric charge passes through the materials and regulates the dimming of the interior and exterior rearview mirrors. The mirrors may also operate as a compass, microphone, and safety camera to improve driver safety in both commercial and passenger cars.
Significant expansion in the automobile sector throughout the world is one of the primary drivers driving the market's favorable outlook. Furthermore, rising public awareness about driver and passenger safety propels the industry forward. Auto-dimming mirrors aid the driver in keeping a clean field of view of the road and preventing nighttime traffic accidents caused by excessive glare. Other growth-inducing elements include technology improvements such as creating auto-dimming mirrors coupled with the cloud and Internet of Things (IoT) devices. These cutting-edge models include parking and lighting assistance, blind spot detection, hands-free Bluetooth connectivity, navigation, and temperature screens. Other factors, such as expanding consumer spending power and a growing desire for premium and semi-luxury automobiles among the general public, are expected to propel the industry forward.
The world economy is shrinking due to the coronavirus pandemic, causing havoc on global economic activity. Businesses all over the world are taking a virtual stand to stop the virus's spread. Several major automobile manufacturers across the world have suspended production, decreasing demand for automotive components such as an auto-dimming mirror. The sale of passenger automobiles has decreased dramatically due to a decrease in consumer spending power due to pay cuts and job losses during the lockdown.
Stricter government regulations and rising demand for passenger safety are expected to drive auto-dimming mirror penetration during the forecast period. According to the World Health Organization (WHO), around 1.3 million people die in vehicle accidents yearly. Increased vehicle safety can help to prevent accidents. Auto dimming mirror systems aid in the prevention of accidents by increasing the driver's visibility while decreasing the strain from tailing cars' beams. Moreover, rising government regulations are projected to drive the auto dimming mirror market forward.
The National Highway Traffic Safety Administration (NHTSA), a federal government agency in the United States, suggested improvements that included an evaluation of crash-avoidance technology like as blind spot detection and lower beam headlamp performance. To minimize accidents, major auto dimming glass manufacturers provide products with capabilities such as blind spot detection. Gentex, Samvardhana Motherson Reflectec (SMR), for instance, provides mirrors with side blind zone indications, turn signal indicators, and courtesy lights. As a result, the increased demand for safety features in vehicles drives the market growth.
The use of an auto dimming mirror with extra capabilities like parking help, lightning aid, blind spot recognition, and Homelink raises the overall cost of the mirror because these features need additional sensors and display systems. Furthermore, linked auto dimming mirrors necessitate the intricate connecting of electronic systems, making Do-It-Yourself (DIY) installation problematic. Conventional mirrors are less expensive and simpler to install than auto dimming mirrors. Furthermore, the increased adoption of display and camera-based systems by various OEMs is projected to have a negative impact on the industry. Thus, high costs, time-consuming installation processes, and the availability of replacements such as display and camera-based systems are likely to limit the global auto dimming mirrors market's development.
The growing trend of incorporating Internet of Things (IoT) and cloud-based features into auto dimming mirrors, such as blind spot detection, Bluetooth and hands-free connectivity, navigation systems, temperature displays, tire pressure displays, wireless controls to operate gates, garage doors, home lighting, and other home automation features, is expected to create lucrative opportunities in the global auto dimming mirror market. Several firms are working to produce new goods with these attributes in order to compete in the worldwide market. Gentex Corporation, for instance, debuted three new items at the SEMA Show 2019 in November 2019. Among these goods is a new auto-dimming mirror with a cloud-based home automation system and an integrated HomeLink button that operates through radio frequency. Thus, the manufacture of cloud-based auto dimming mirrors is expected to present significant potential opportunities for competitors in the auto dimming mirror market.
The study categorizes the auto dimming mirror market based on application, fuel type, functionality, and vehicle type at regional and global levels.
By Vehicle Type Outlook (Sales, USD Million, 2017-2030)
Based on the functionality, the auto dimming mirror market is divided into connected auto dimming mirrors, and non-connected auto dimming mirrors. During the forecast period, connected auto dimming mirror is expected to dominate the auto dimming mirror market with the highest CAGR. Connected auto dimming mirrors are dimming mirrors that are combined with several additional elements to give drivers with safety and convenience while driving. Temperature display, Bluetooth and hands-free communication, and navigation are some amenities that come standard with dimming mirrors. The market for auto dimming mirrors is expected to develop at the highest rate during the forecast period, owing to the increasing usage of connected dimming mirrors.
Based on the regions, the global auto dimming mirror market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. During the forecast period, Asia-Pacific is expected to dominate the auto dimming mirror market with the highest CAGR. The region includes the world's highest automobile manufacturing countries, including China, Japan, South Korea, and India. The demand for automobile mirrors is closely related to the region's vehicle production. People's increasing purchasing power is another important element driving growth in the Asia Pacific region.
The global auto dimming mirror market is highly competitive, with key industry players adopting strategies such as product development, partnerships, acquisitions, agreements, and expansion to strengthen their market positions. Most market companies focus on expanding operations across regions, augmenting their capabilities, and building strong partner relations.
Major players in the global auto dimming mirror market are:
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