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Automotive Camera-based Side Mirrors Market Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2021-2025

  • Published: May 2021
  • Pages: 120
  • SKU: IRTNTR44050
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The automotive camera-based side mirrors market share is expected to increase by USD 69.68 million from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 83.09%.

This automotive camera-based side mirrors market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers automotive camera-based side mirrors market segmentations by application (passenger cars and commercial vehicles) and geography (APAC, EMEA, and Americas). The automotive camera-based side mirrors market report also offers information on several market vendors, including BMW Group, Continental AG, Gentex Corp., Honda Motor Co. Ltd., Hyundai Mobis Co. Ltd., Kappa optronics GmbH, Kyocera Corp., Magna International Inc., Mitsubishi Electric Corp., and Motherson Sumi Systems Ltd. among others.

What will the Automotive Camera-based Side Mirrors Market Size be During the Forecast Period?

Automotive Camera-based Side Mirrors Market Size

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Automotive Camera-based Side Mirrors Market: Key Drivers, Trends, and Challenges

The growing uptake of automotive electronics is notably driving the automotive camera-based side mirrors market growth, although factors such as government regulations regarding automotive mirrors may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the automotive camera-based side mirrors industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Automotive Camera-based Side Mirrors Market Driver

The growing uptake of automotive electronics is one of the key factors driving the growth of the global automotive camera-based side mirrors market. With the advent of technological innovations in automobiles, the uptake of electronic components and sub-systems has increased in vehicles (especially passenger vehicles). In 2018, the penetration of automotive electronics was about three-fifths in an average automobile, which was about two-thirds during 2013-2014. The high adoption of automotive electronics is also driven by stringent regulatory norms and mandates, the growing focus on fuel efficiency, the demand for advanced safety, the growing need for connectivity systems, the increasing adoption of hybrid powertrains, and the electrification of components. The adoption of advanced automotive systems and technological innovations has become a standard globally, driven by OEMs, vendors, and suppliers. In the global automotive market, passenger vehicles have led to the adoption of built-in electronics to support technological innovations and developments in automobiles. Such factors will increase the demand for the market in focus during the forecast period.

Key Automotive Camera-based Side Mirrors Market Trend

The emergence of surround-view mirror systems will fuel the global automotive camera-based side mirrors market growth. A surround-view mirror system or 360-degree camera system is a system of multiple cameras that are positioned to provide the driver with visibility of all four sides of the vehicle. The system is designed to intelligently combine all the inputs from the surrounding cameras and display a single video offering an elevated view to the driver. Surround-view mirror systems integrate sonar technologies to accurately identify the distance between adjacent vehicles or obstacles and alert the driver with audio signals regarding the distance between the vehicle and obstacle. For instance, in 2007, Nissan Motor Co. Ltd. (Nissan Motor) developed its Around View Monitor system. The system has been used in various models of Nissan Motor. The Around View Monitor system combines video inputs from four cameras situated in the front grille, side-view mirrors, and above the license plate to provide an output via a liquid crystal display to the driver. Nissan Motor upgraded the technology to the intelligent Around View Monitor system.

Key Automotive Camera-based Side Mirrors Market Challenge

The government regulations regarding automotive mirrors are a major challenge for the global automotive camera-based side mirrors market growth. The majority of the states in the US are governed by regulations that require vehicles to have side-view mirrors. The addition of automotive camera-based side mirrors increases production costs. Hence, vehicle manufacturers are inclined to offer automotive camera-based side mirrors only with premium segment vehicles. Technological developments in the automotive industry have outpaced the developments in regulatory systems followed in various countries. This has restricted vehicle manufacturers from equipping vehicles with certain technologies. Regulatory authorities in countries such as China, South Korea, and India do not have testing procedures that test the integrity and reliability of newly developed automotive technologies. Such vehicle manufacturers find it difficult to equip vehicles with advanced technologies such as automotive camera-based side mirrors. Moreover, the irregularity of regulations followed in multiple states of the US and countries in Europe hinders the usability of a vehicle model equipped with automotive camera-based side mirrors throughout the US or Europe. This will negatively affect the sales of vehicles equipped with automotive camera-based side mirrors.

This automotive camera-based side mirrors market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

Technavio categorizes the global automotive camera-based side mirrors market as a part of the global automotive components and accessories market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the automotive camera-based side mirrors market during the forecast period.

Who are the Major Automotive Camera-based Side Mirrors Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

  • BMW Group
  • Continental AG
  • Gentex Corp.
  • Honda Motor Co. Ltd.
  • Hyundai Mobis Co. Ltd.
  • Kappa optronics GmbH
  • Kyocera Corp.
  • Magna International Inc.
  • Mitsubishi Electric Corp.
  • Motherson Sumi Systems Ltd.

 

This statistical study of the automotive camera-based side mirrors market encompasses successful business strategies deployed by the key vendors. The automotive camera-based side mirrors market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

  • BMW Group - The company offers BMW i8 Mirrorless.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The automotive camera-based side mirrors market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Automotive Camera-based Side Mirrors Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the automotive camera-based side mirrors market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the global automotive components and accessories market includes the following core components:

  • Inputs
  • Inbound logistics
  • Operations
  • Outbound logistics
  • Marketing and sales
  • Service
  • Support activities
  • Innovation

The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

Which are the Key Regions for Automotive Camera-based Side Mirrors Market?

Automotive Camera-based Side Mirrors Market Market segmentation by region

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41% of the market's growth will originate from the Americas during the forecast period. Market growth in this region will be faster than the growth of the market in regions.

The growing uptake of automotive electronics will facilitate the automotive camera-based side mirrors market growth in the Americas over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The COVID-19 pandemic negatively impacted the automotive camera-based side mirrors market in the Americas in 2020. Due to this, governments imposed lockdowns and travel restrictions to control the spread of the disease. As a result, manufacturing plants were temporarily shut down in 2020. However, in 2021, the initiation of large-scale vaccination drives lifted the lockdown and travel restrictions, which led to the resumption of supply chain activities. Such factors are expected to drive the market during the forecast period.

What are the Revenue-generating Application Segments in the Automotive Camera-based Side Mirrors Market?

Automotive Camera-based Side Mirrors Market Segmentation

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The automotive camera-based side mirrors market share growth by the passenger cars segment will be significant during the forecast period. Luxury automakers are focusing on increasing the safety level of passenger cars and are adopting advanced safety functions such as camera-based side mirrors. Hence, the demand for automotive camera-based side mirrors is increasing steadily in the automotive industry.

This report provides an accurate prediction of the contribution of all the segments to the growth of the automotive camera-based side mirrors market size and actionable market insights on post COVID-19 impact on each segment.

Automotive Camera-based Side Mirrors Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 83.09%

Market growth 2021-2025

$ 69.68 million

Market structure

Fragmented

YoY growth (%)

35.96

Regional analysis

APAC, EMEA, and Americas

Performing market contribution

Americas at 41%

Key consumer countries

Japan, UK, China, Germany, and South Korea (Republic of Korea)

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

BMW Group, Continental AG, Gentex Corp., Honda Motor Co. Ltd., Hyundai Mobis Co. Ltd., Kappa optronics GmbH, Kyocera Corp., Magna International Inc., Mitsubishi Electric Corp., and Motherson Sumi Systems Ltd.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

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What are the Key Data Covered in this Automotive Camera-based Side Mirrors Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive automotive camera-based side mirrors market growth during the next five years
  • Precise estimation of the automotive camera-based side mirrors market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the automotive camera-based side mirrors industry across APAC, EMEA, and Americas
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of automotive camera-based side mirrors market vendors

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1 Executive Summary

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 02: Market characteristics
    • Exhibit 03: Value chain analysis for automotive components and accessories
  • 2.2 Value chain analysis

    3 Market Sizing

    • 3.1 Market definition
      • Exhibit 05: Market segments
    • 3.2 Market segment analysis
      • 3.3 Market size 2020
        • Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ million)
      • 3.4 Market outlook: Forecast for 2020 - 2025
        • Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)

      4 Five Forces Analysis

      • 4.1 Five forces summary
        • Exhibit 09: Bargaining power of buyers
      • 4.2 Bargaining power of buyers
        • Exhibit 10: Bargaining power of suppliers
      • 4.3 Bargaining power of suppliers
        • Exhibit 11: Threat of new entrants
      • 4.4 Threat of new entrants
        • 4.5 Threat of substitutes
          • Exhibit 12: Threat of substitutes
        • 4.6 Threat of rivalry
          • Exhibit 13: Threat of rivalry
          • Exhibit 14: Market condition - Five forces 2020
        • 4.7 Market condition

          5 Market Segmentation by Application

          • 5.1 Market segments
            • Exhibit 16: Comparison by Application
          • 5.2 Comparison by Application
            • Exhibit 17: Passenger cars - Market size and forecast 2020-2025 ($ million)
          • 5.3 Passenger cars - Market size and forecast 2020-2025
            • Exhibit 18: Passenger cars - Year-over-year growth 2020-2025 (%)
            • Exhibit 19: Commercial vehicles - Market size and forecast 2020-2025 ($ million)
          • 5.4 Commercial vehicles - Market size and forecast 2020-2025
            • Exhibit 20: Commercial vehicles - Year-over-year growth 2020-2025 (%)
            • Exhibit 21: Market opportunity by Application
          • 5.5 Market opportunity by Application

            6 Customer landscape

            7 Geographic Landscape

            • 7.1 Geographic segmentation
              • Exhibit 24: Geographic comparison
            • 7.2 Geographic comparison
              • Exhibit 25: APAC - Market size and forecast 2020-2025 ($ million)
            • 7.3 APAC - Market size and forecast 2020-2025
              • Exhibit 26: APAC - Year-over-year growth 2020-2025 (%)
              • Exhibit 27: EMEA - Market size and forecast 2020-2025 ($ million)
            • 7.4 EMEA - Market size and forecast 2020-2025
              • Exhibit 28: EMEA - Year-over-year growth 2020-2025 (%)
              • Exhibit 29: Americas - Market size and forecast 2020-2025 ($ million)
            • 7.5 Americas - Market size and forecast 2020-2025
              • Exhibit 30: Americas - Year-over-year growth 2020-2025 (%)
              • Exhibit 31: Key leading countries
            • 7.6 Key leading countries
              • 7.7 Market opportunity by geography
                • Exhibit 32: Market opportunity by geography ($ million)

              8 Drivers, Challenges, and Trends

              • 8.1 Market drivers
                • 8.2 Market challenges
                  • Exhibit 33: Impact of drivers and challenges
                • 8.3 Market trends

                  9 Vendor Landscape

                  • 9.1 Overview
                    • Exhibit 35: Landscape disruption
                  • 9.2 Landscape disruption
                    • Exhibit 36: Industry risks

                  10 Vendor Analysis

                  • 10.1 Vendors covered
                    • 10.2 Market positioning of vendors
                      • Exhibit 38: Market positioning of vendors
                      • Exhibit 39: BMW Group - Overview
                      • Exhibit 40: BMW Group - Business segments
                      • Exhibit 41: BMW Group – Key news
                    • 10.3 BMW Group
                      • Exhibit 42: BMW Group - Key offerings
                      • Exhibit 43: BMW Group - Segment focus
                      • Exhibit 44: Continental AG - Overview
                      • Exhibit 45: Continental AG - Business segments
                    • 10.4 Continental AG
                      • Exhibit 46: Continental AG – Key news
                      • Exhibit 47: Continental AG - Key offerings
                      • Exhibit 48: Continental AG - Segment focus
                      • Exhibit 49: Gentex Corp. - Overview
                      • Exhibit 50: Gentex Corp. - Business segments
                    • 10.5 Gentex Corp.
                      • Exhibit 51: Gentex Corp. – Key news
                      • Exhibit 52: Gentex Corp. - Key offerings
                      • Exhibit 53: Gentex Corp. - Segment focus
                      • Exhibit 54: Honda Motor Co. Ltd. - Overview
                      • Exhibit 55: Honda Motor Co. Ltd. - Business segments
                    • 10.6 Honda Motor Co. Ltd.
                      • Exhibit 56: Honda Motor Co. Ltd. – Key news
                      • Exhibit 57: Honda Motor Co. Ltd. - Key offerings
                      • Exhibit 58: Honda Motor Co. Ltd. - Segment focus
                      • Exhibit 59: Hyundai Mobis Co. Ltd. - Overview
                      • Exhibit 60: Hyundai Mobis Co. Ltd. - Business segments
                      • Exhibit 61: Hyundai Mobis Co. Ltd. – Key news
                    • 10.7 Hyundai Mobis Co. Ltd.
                      • 10.8 Kappa optronics GmbH
                        • Exhibit 66: Kappa optronics GmbH – Key news
                        • Exhibit 67: Kappa optronics GmbH - Key offerings
                        • Exhibit 68: Kyocera Corp. - Overview
                        • Exhibit 69: Kyocera Corp. - Business segments
                      • 10.9 Kyocera Corp.
                        • Exhibit 70: Kyocera Corp. - Key offerings
                        • Exhibit 71: Kyocera Corp. - Segment focus
                        • Exhibit 72: Magna International Inc. - Overview
                        • Exhibit 73: Magna International Inc. - Business segments
                      • 10.10 Magna International Inc.
                        • Exhibit 74: Magna International Inc. – Key news
                        • Exhibit 75: Magna International Inc. - Key offerings
                        • Exhibit 76: Magna International Inc. - Segment focus
                        • Exhibit 77: Mitsubishi Electric Corp. - Overview
                        • Exhibit 78: Mitsubishi Electric Corp. - Business segments
                      • 10.11 Mitsubishi Electric Corp.
                        • Exhibit 79: Mitsubishi Electric Corp. - Key offerings
                        • Exhibit 80: Mitsubishi Electric Corp. - Segment focus
                        • Exhibit 81: Motherson Sumi Systems Ltd. - Overview
                        • Exhibit 82: Motherson Sumi Systems Ltd. - Business segments
                      • 10.12 Motherson Sumi Systems Ltd.
                        • Exhibit 83: Motherson Sumi Systems Ltd. - Key offerings
                        • Exhibit 84: Motherson Sumi Systems Ltd. - Segment focus

                      11 Appendix

                      • 11.1 Scope of the report
                        • Exhibit 85: Currency conversion rates for US$
                      • 11.2 Currency conversion rates for US$
                        • Exhibit 86: Research Methodology
                      • 11.3 Research methodology
                        • Exhibit 87: Validation techniques employed for market sizing
                        • Exhibit 88: Information sources
                        • Exhibit 89: List of abbreviations
                      • 11.4 List of abbreviations

                        Research Framework

                        Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

                        TechnavioINFORMATION SOURCES

                        Primary sources

                        • Manufacturers and suppliers
                        • Channel partners
                        • Industry experts
                        • Strategic decision makers

                        Secondary sources

                        • Industry journals and periodicals
                        • Government data
                        • Financial reports of key industry players
                        • Historical data
                        • Press releases
                        Technavio

                        TechnavioDATA ANALYSIS

                        Data Synthesis

                        • Collation of data
                        • Estimation of key figures
                        • Analysis of derived insights

                        Data Validation

                        • Triangulation with data models
                        • Reference against proprietary databases
                        • Corroboration with industry experts
                        Technavio

                        TechnavioREPORT WRITING

                        Qualitative

                        • Market drivers
                        • Market challenges
                        • Market trends
                        • Five forces analysis

                        Quantitative

                        • Market size and forecast
                        • Market segmentation
                        • Geographical insights
                        • Competitive landscape
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                        Automotive Camera-based Side Mirrors Market market growth will increase by $69.68 mn during 2021-2025.
                        The automotive camera-based side mirrors market market is expected to grow at a CAGR of 83.09% during 2021-2025.
                        Technavio has segmented the automotive camera-based side mirrors market market by application (Passenger cars and Commercial vehicles) ,geography (APAC, EMEA, Americas, MEA, and North America) , and geographic (APAC, EMEA, and Americas).
                        BMW Group, Continental AG, Gentex Corp., Honda Motor Co. Ltd., Hyundai Mobis Co. Ltd., Kappa optronics GmbH, Kyocera Corp., Magna International Inc., Mitsubishi Electric Corp., Motherson Sumi Systems Ltd. are a few of the key vendors in the automotive camera-based side mirrors market market.
                        Americas will register the highest growth rate of 41% among the other regions. Therefore, the automotive camera-based side mirrors market market in Americas is expected to garner significant business opportunities for the vendors during the forecast period.
                        • Japan
                        • UK
                        • China
                        • Germany
                        • South Korea (Republic of Korea)
                        The key factors driving the automotive camera-based side mirrors market market growth are:
                        • Growing uptake of automotive electronics
                        • Emergence of surround-view mirror systems
                        The automotive camera-based side mirrors market market vendors should focus on grabbing business opportunities from the passenger cars segment as it accounted for the largest market share in the base year.
                        • What are the key global market and the regional market share?
                        • What are the revenue-generating key market segments?
                        • What are the key factors driving and challenging this market’s growth?
                        • Who are the key market vendors and their growth strategies?
                        • What are the latest trends influencing the growth of this market?
                        • What are the variables influencing the market growth in the primary regions?
                        • What are the factors influencing the growth of the parent market?
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