Enjoy complimentary customisation on priority with our Enterprise License!
The automotive intelligent rearview mirror market size is forecast to increase by USD 1.62 billion at a CAGR of 20.6% between 2023 and 2028.
The automotive intelligent rearview mirror industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The passenger car segment is estimated to witness significant growth during the forecast period.
The market is experiencing significant growth, particularly in the passenger car segment. This segment's expansion is driven by the rising demand for advanced safety features and technologies in passenger vehicles. Intelligent rearview mirrors, equipped with built-in cameras, sensors, and sophisticated display systems, are gaining popularity among car owners. These mirrors offer real-time video feeds, blind spot detection, automatic parking assistance, and traffic sign recognition. By employing artificial intelligence and machine learning algorithms, these mirrors can analyze data and provide drivers with valuable insights, thereby enhancing their driving experience. Automotive OEMs are integrating these features to cater to consumer preferences for comfort, convenience, and enhanced safety.
Advanced mirrors are also being integrated into SUVs and luxury cars, offering features such as automatic folding, auto-dimming, and heating functions. The commercial vehicle segment, including commercial vehicles and vehicle fleets, is also adopting intelligent rearview mirrors for improved driver protection and visibility. Mature economies are leading the market, with increasing vehicle production and passenger vehicle sales. Developing economies are also showing significant growth potential due to shared connectivity trends and the increasing popularity of autonomous vehicles. OEMs are investing in production facilities and automobile production to meet the growing demand for these advanced mirrors. Intelligent rearview mirrors offer a range of benefits, including improved driver protection, enhanced safety, and mobility.
They also provide features such as oversized back headrests, turn signal indicators, and full-screen monitors, making them a desirable addition to both mid-end and high-end cars. With continuous advancements in technology, these mirrors are poised to revolutionize the automotive industry.
Get a glance at the market report of share of various segments Request Free Sample
The Passenger car segment was valued at USD 430.30 billion in 2018 and showed a gradual increase during the forecast period.
APAC is estimated to contribute 35% to the growth of the global market during the forecast period.Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
For more insights on the market size of various regions, Request Free Sample
The market in APAC is experiencing substantial growth due to the region's thriving automotive industry and rapid technological advancements. Intelligent rearview mirrors represent a significant leap from conventional mirrors, offering enhanced features and superior visibility for drivers. These mirrors integrate a camera system to capture real-time footage of the vehicle's surroundings, which is then displayed on a high-resolution screen inside the vehicle. By eliminating blind spots and expanding the field of view, intelligent rearview mirrors boost safety for both drivers and passengers. The APAC market is a major contributor to the global market's expansion, with mature economies and developing economies alike embracing this technology.
Automotive OEMs are integrating intelligent mirrors into various vehicle segments, including sedans, luxury cars, SUVs, and commercial vehicles, to cater to the diverse needs of consumers. The integration of advanced features such as automatic folding, auto-dimming, heating function, power control, and enhanced safety is driving the demand for intelligent rearview mirrors. The market is also witnessing the adoption of shared connectivity and image-processing programs, allowing drivers to stay informed about traffic conditions and other vital information. The integration of intelligent mirrors into vehicle design is expected to continue, with passenger vehicle sales and automobile production on the rise. The commercial vehicle segment, including fleet vehicles and high-end cars, is also adopting this technology for improved driver protection, visibility, and mobility.
The market's growth is further fueled by the integration of features such as turn signal indicators, full-screen monitors, and oversized back headrests. Overall, the market in APAC is poised for continued growth, offering significant opportunities for innovation and advancement.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The automotive intelligent rearview mirror market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the automotive intelligent rearview mirror market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, automotive intelligent rearview mirror market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the industry.
Continental AG - The company introduces advanced automotive rearview mirrors, such as Continental's ProViu Mirror, featuring digital technology for enhanced visibility and safety on the road. These intelligent mirrors provide clearer images and eliminate blind spots, ensuring improved driver situational awareness. The integration of digital technology allows for real-time adjustments and customizable settings, optimizing the driving experience.
The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The automotive industry continues to witness significant advancements in technology, with intelligent rearview mirrors gaining increasing popularity. These mirrors offer enhanced convenience and safety features, making them a desirable addition to modern vehicles. Intelligent rearview mirrors, also known as smart mirrors, are equipped with various functions such as blind spot detection, automatic parking assistance, and camera systems. These features provide drivers with improved visibility and awareness of their surroundings, especially in sedans and SUVs where blind spots can be a concern. Blind spot detection is a crucial safety feature that uses sensors to alert drivers of other vehicles in their blind spot.
Automatic parking assistance, on the other hand, assists drivers in parking their vehicles in tight spaces by providing guidance and feedback. The commercial vehicle segment, including buses and trucks, is also adopting intelligent rearview mirrors. These mirrors offer advantages such as automatic folding and foldable designs, which are particularly useful in commercial vehicles with limited space. The mounting location of these mirrors is another factor that is evolving. Advanced mirrors are being integrated into the vehicle design, with some being mounted on the side or exterior of the vehicle. These mirrors offer enhanced visibility, especially in traffic conditions where glare can be a problem.
The luxury vehicle market is also driving the demand for intelligent rearview mirrors. These vehicles often come equipped with features such as auto-dimming, image-processing programs, and heated mirrors. Additionally, high-end cars often feature oversized back headrests and shared connectivity, which can be integrated into the mirror design. The automotive OEMs are investing in the production of advanced mirrors, with some even exploring the use of cameras instead of traditional mirrors. Mid-end cars are also adopting smart rear-view mirrors, making them increasingly accessible to a wider audience. Comfort and convenience are key drivers for the adoption of intelligent rearview mirrors.
In mature economies, where vehicle per capita is high, consumers are looking for features that enhance their driving experience. These mirrors offer enhanced driver protection and visibility, making them an attractive option for both passengers and commercial vehicle fleets. The use of intelligent rearview mirrors is not limited to passenger vehicles. Automotive production for autonomous vehicles is also incorporating these advanced mirrors to improve visibility and safety. Power control and enhanced safety features are becoming increasingly important as the automotive industry moves towards more autonomous vehicles. Local restrictions and regulations may impact the adoption of intelligent rearview mirrors in certain regions.
However, the benefits of these mirrors are significant, and their popularity is expected to continue growing as technology advances and vehicle designs evolve. In summary, the automotive industry is witnessing a shift towards intelligent rearview mirrors, with features such as blind spot detection, automatic parking assistance, and camera systems becoming increasingly popular. These mirrors offer enhanced convenience, comfort, and safety, making them a desirable addition to modern vehicles. The commercial vehicle segment, luxury vehicles, and autonomous vehicles are all adopting these advanced mirrors, and automotive OEMs are investing in their production to meet the growing demand.
|
Market Scope |
|
|
Report Coverage |
Details |
|
Page number |
174 |
|
Base year |
2023 |
|
Historic period |
2018-2022 |
|
Forecast period |
2024-2028 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 20.6% |
|
Market growth 2024-2028 |
USD 1624.3 million |
|
Market structure |
Fragmented |
|
YoY growth 2023-2024(%) |
16.5 |
|
Key countries |
US, China, Japan, Germany, and France |
|
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
We can help! Our analysts can customize this automotive intelligent rearview mirror market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
Get the report (PDF) sent to your email within minutes.
Complimentary full Excel data with your report purchase.
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.
