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Allied Market Research

Automotive Rear View System Market by Type (Exterior Rear-view Mirror, Interior Rear-view Mirror), Features (Auto-Dimming, Blind Spot Detection, Power Control. Automatic Foldable, Heated, Turn Signal Indicator and Others), Product (Conventional Rear-view Mirror and Smart Rear-view Mirror), Mounting Location (Body Mounted and Door Mounted), Vehicle (Passenger Cars, Light Commercial Vehicles, Trucks, and Buses): Global Opportunity Analysis and Industry Forecast, 2021–2027

A10109
Pages: NA
Aug 2021 | 397 Views
 
Author(s) : NA
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Charts: NA
 

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The main function of the automotive rearview mirror is to give the driver a clear vision of all the objects to the side or rear of the vehicle. To ensure safety, manufacturers are focusing on novel technologies for the development of innovative automotive rearview mirrors. As many manufacturing companies have recently launched a rearview mirror that incorporates a rear camera, where the whole display mirror is converted into a video display that provides a panoramic view of the objects behind the vehicle. Significant efforts have been made by component and automobile manufacturers to reduce aerodynamics noise, drag, and vibration. However, there has been less attention drawn to the refinement of the performance of the automobile side rearview mirror, especially on the vibrations of the mirror. The rearview mirrors are used in four-wheelers as well as two-wheelers. In some countries, the law states that the vehicle should have two rearview mirrors to ensure the safety of passengers inside the vehicle, which is expected to boost the growth of the market.  

Market scope and structure analysis:

Report Metric

Details

  Market size available for years

  2020–2027

  Base year considered

  2019

  Forecast period

  2021–2027

  Forecast units

  Value (USD)

  Segments covered

  Type, Features, Product, Mounting Location, and Vehicle

  Geographies covered

North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Russia, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific), LAMEA (Latin America, Middle East, and Africa)

  Companies covered

Magna International Inc., Ichikoh Industries Ltd., Ficosa Internacional SA, Lumax Automotive Systems Ltd, Burco Inc., SL Corporation, Murakami Corporation, Valeo SA, Gentex Corporation, Automotive Holding GmbH

 

COVID-19 scenario analysis:

  • There was a sharp spike in the number of confirmed COVID-19 cases and the number of countries affected by the outbreak, so the industry has witnessed an increasing number of flight cancellations and aircraft groundings.
  • This has been followed by official travel bans, visas cancellations, and border closures, as several countries have declared strengthened measures, including closures of schools, universities, and public areas.
  • All the previous assessments concerning airport traffic and revenues are now substantially outdated with a rapidly evolving market situation which may change the future projects of the companies.
  • In commercial aviation, companies are experiencing a disruption in production and slowing demand as workers go home, passengers stop traveling, and customers defer delivery of new aircraft. 

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

Some of the factors that boost the market growth include increase in awareness about vehicle and passenger safety, the trend of integrating additional features, and rise in demand for premium segment vehicles. However, the high replacement cost of the smart rear-view mirror is anticipated to hamper the growth of the market. Furthermore, integration of infotainment and navigation applications are expected to offer lucrative opportunities for the market.

The automotive rear-view system market trends are as follows:

Increase in awareness about vehicle and passenger safety 

As the buying power of customers is increasing with growing economies a greater number of people are shifting to urban areas and a variety of options are available in most of the developing economies tremendously well. In addition, the automakers are facing great competition among themselves to gain the attention of the customers. Hence, they are forced to introduce some of their premium services in a vehicle for the economy class as well to have a competitive edge in the market. Moreover, the rise in demand for advancing the safety offered by the automakers is forcing them to install the advanced technologies in the vehicle which is boosting the automotive rear-view system market growth.

Rise in demand for premium segment vehicles 

With the huge increase in buying power due to modernization and the increase in spending power of people, the number of vehicles is increasing significantly across the globe. Thus, the customers who are seeking to buy an automobile are gradually shifting toward the premium segment. Also, the technology is rapidly restructuring the automotive industry, and the automotive Original Equipment Manufacturer (OEM) is continuously adopting new technological changes. Hence, the upcoming automobiles comprise more luxury to enhance the comfort of the passengers and to sustain their position in the market as well which will further boost the automotive rear-view system market growth.

Key segments covered:               

Segments

Sub-segments

  Type

  • Exterior Rear-view Mirror
  • Interior Rear-view Mirror

  Features

  • Auto-Dimming
  • Blind Spot Detection
  • Power Control
  • Automatic Foldable
  • Heated
  • Turn Signal Indicator
  • Others

  Product

  • Conventional Rear-view Mirror
  • Smart Rear-view Mirror

  Mounting Location

  • Body Mounted
  • Door Mounted

  Vehicle

  • Passenger Cars
  • Light Commercial Vehicles
  • Trucks
  • Buses

Key benefits of the report:

  • This study presents the analytical depiction of the automotive rear-view system market 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 a detailed analysis of the automotive rear-view system market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the automotive rear-view system market scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
  • The report provides a detailed automotive rear-view system market analysis based on competitive intensity and how the competition will take shape in the coming years.

Questions answered in the automotive rear-view system market research report:

  • What are the leading market players active in the automotive rear-view system 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?
 
With collective industry experience of about 200 years of its analysts and experts, Allied Market Research (AMR) encompasses most infallible research methodology for its market intelligence and industry analysis. We do not only engrave the deepest levels of markets but also sneak through its slimmest details for the purpose of our market estimates and forecasts. Our approach helps in building greater market consensus view for size, shape and industry trends within each industry segment. We carefully factor in industry trends and real developments for identifying key growth factors and future course of the market. Our research proceeds are the resultant of high quality data, expert views and analysis and high value independent opinions. Our research process is designed to deliver balanced view of the global markets and allow stakeholders to make informed decisions.

We offer our clients exhaustive research and analysis based on wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics and regional intelligence. Our in-house industry experts play instrumental role in designing analytic tools and models, tailored to the requirements of particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of our recommendations and advice. With AMR’s calibrated research process and 360` degree data-evaluation methodology, our clients are assured of receiving:

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With a strong methodology we are, therefore, confident that our research and analysis are most reliable and guarantees sound business planning.

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We refer a broad array of industry sources for our secondary, which typically include; however, not limited to: Company SEC filings, annual reports, company websites, broker & financial reports and investor presentations for competitive scenario and shape of the industry

  • Patent and regulatory databases for understanding of technical & legal developments
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Our primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks and face-to-face interactions. We are also in professional corporate relations with various companies that allow us greater flexibility for reaching out industry participants and commentators for interviews and discussions, fulfilling following functions:

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Our primary research interview and discussion panels are typically composed of most experienced industry members. These participants include; however, not limited to:

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AMR has developed set of analyst tools and data models to supplement and expedite the analysis process. Corresponding to markets, where there is significant lack of information and estimates, AMR’s team of experts and analyst develop specific analyst tools and industry models to translate qualitative and quantitative industry indicators into exact industry estimates. These models also allow analysts to examine the prospects and opportunities prevailing in the market to accurately forecast the course of the market.
 
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