Allied Market Research

2024

Automotive Electrically Adjustable Outside Smart Rear View Mirror (orvm) Market

Automotive Electrically Adjustable Outside Smart Rear View Mirror (ORVM) Market Size, Share, Competitive Landscape and Trend Analysis Report by Application, by Feature and by Mounting Location : Global Opportunity Analysis and Industry Forecast, 2023-2032

AT : Automotive systems and accessories

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Author's: | Lalit Janardhan Katare
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Automotive Electrically Adjustable (ORVM) Market Outlook – 2027 

Automotive electrically adjustable outside rear view mirror (ORVM) is a mirror in automobile vehicles, which allows the driver to see rearward through the vehicle's backlight. ORVM is considered an important auto part in vehicles for the safety of drivers. Outside rear view mirror (OVRM) is electrically adjustable, which means there is no physical work required for adjusting the mirrors. Such mirrors can be adjusted with the help of a switch which is located near driver’s side door. ORVM is easily accessible to drivers and can be operated while driving. ORVM provides clear visibility and can be easily switched between its two modes: camera and mirror. Such features of automotive electrically adjustable outside rear view mirror improve safety of the vehicle. 

COVID-19 Scenario analysis:

  • Due to COVID-19 situation, the production of automotive electrically adjustable outside smart rear-view mirrors has been hampered due to the declared lockdowns and government restrictions on public gatherings.
  • Slowing of demand in automobile sector due to COVID-19, is directly impacting automotive electrically adjustable outside smart rear-view mirror market.
  • Post COVID-19 the growth in automobile sector is expected, which will increase demand in smart ORVM market.
  • Due to disturbance in supply chain because of COVID-19 situation, the spare parts supply of smart ORVM has been hampered, which is impacting growth of the ORVM market.
  • The research and development work in technological advancement of automotive adjustable outside smart rear-view mirror has been hampered due to the travel restrictions applied by governments due to COVID-19.

Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis

Technological advancements in OVRM and increased offerings in OVRM for trucks are among the factors which are driving the automotive electrically adjustable outside smart rear-view mirror market. However, the development of digital side rear-view mirrors might restrain the growth of the automotive electrically adjustable smart ORVM market. On the contrary, increase in the production of passenger vehicles will be opportunistic for the growth of automotive electrically adjustable outside smart rear-view mirror market.

Technological advancements in ORVM

Technological advancements in conventional outside rear view mirrors such as clearer camera view, LCD monitor etc has led to the development of smart outside rear view mirrors. Such smart OVRMs provide smart features such as sound warning in case of any obstruction while driving backwards, GPS, and more. Further, such smart ORVMs can also be used as an entertainment device, for instance, in watching movie or listening music. Such features have contributed to the increase in demand of the smart ORVMs and thereby driving the growth of the global automotive electrically adjustable outside smart rear-view market.

Key benefits of the report:

  • This study presents the analytical depiction of the automotive electrically adjustable outside smart rear-view mirror (ORVM) industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of global automotive electrically adjustable outside smart rear-view mirror (ORVM) market share.
  • The current market is quantitatively analysed from 2020 to 2027 to highlight the global automotive electrically adjustable outside smart rear-view mirror (ORVM) market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
  • The report provides a detailed global automotive electrically adjustable outside smart rear-view mirror (ORVM) market analysis based on competitive intensity and how the competition will take shape in coming years. 

Questions answered in the automotive electrically adjustable outside smart rear-view mirror (ORVM) market research report:

  • Which are the leading market players active in the global automotive electrically adjustable outside smart rear-view mirror (ORVM) market?
  • What are the current trends that will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the market?
  • What are the projections for the future that would help in taking further strategic steps?

Automotive Electrically Adjustable Outside Smart Rear View Mirror (ORVM) Market Report Highlights

Aspects Details
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By Application
  • Passenger Vehicles
  • Commercial Vehicles
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By Feature
  • Auto-Dimming
  • Blind Spot Detection
  • Power Control
  • Automatic Folding
  • Heating Function
  • Others
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By Mounting Location
  • Door Mounted
  • Body Mounted
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By Region
  • North America  (US, Canada)
  • Europe  (Germany, UK, France, rest of Europe)
  • Asia-Pacific  (China, Japan, India, rest of Asia-Pacific)
  • Latin America  (Brazil, Mexico, rest of LATAM)
  • The Middle East 
  • Africa 
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Key Market Players

SL Corporation, FLABEG AUTOMOTIVE HOLDING GMBH, ICHIKOH INDUSTRIES LTD, Ficosa Internacional SA, Magna International Inc., Motherson Group., Mitsuba Corp., HondaLockMfg. Co. Ltd., Murakami Corporation., GENTEX CORPORATION

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Automotive Electrically Adjustable Outside Smart Rear View Mirror (ORVM) Market

Global Opportunity Analysis and Industry Forecast, 2023-2032