Industry

Global Auto-Dimming Mirror Market Overview And Prospects

According to The Business Research Company’s Auto-Dimming Mirror, The auto-dimming mirror market size has grown strongly in recent years. It will grow from <b>$2.12 billion in 2023 to $2.25 billion in 2024 at a compound annual growth rate (CAGR) of 5.9%. </b> The growth in the historic period can be attributed to growing awareness of driver safety and glare reduction, integration of advanced driver assistance systems (adas) in vehicles, growing demand for commercial vehicles, stringent safety regulations promoting the use of anti-glare mirrors, increased demand for luxury and high-end vehicles with advanced features..

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The auto-dimming mirror market size is expected to see strong growth in the next few years. It will grow to <b>$2.88 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%. </b> The growth in the forecast period can be attributed to surge in the adoption of electric and autonomous vehicles, integration of advanced sensors and cameras in auto-dimming mirrors, growth in the connected car ecosystem, increasing focus on driver comfort and reducing eye strain during night driving, expansion of the automotive market in emerging economies. Major trends in the forecast period include advancements in camera technology, use of artificial intelligence (ai) for adaptive dimming, development of electrochromic mirrors with customizable tint levels, integration of digital displays and augmented reality features, collaboration between automakers and technology providers .The surge in the automotive industry is expected to propel the growth of the auto-dimming mirror market going forward. The automotive industry refers to the designing, developing, and manufacturing of motor vehicles. These mirrors are used in vehicles to reduce the glare of light that is coming from other vehicles and hence prevent the driver from getting distracted. For instance, according to the India Brand Equity Foundation, an India-based government export agency, in May 2022, sales of automobiles in India increased by 5.8%, which is 18.49 million units, as compared to 17.47 million units in the year 2020. Also, the premium car industry sold 2,259 units in December 2021, an increase of 19.7% when compared with 2020. Therefore, the growth of the automotive industry is driving the growth of the auto-dimming mirror market.

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The auto-dimming mirror market covered in this report is segmented –

1) By Fuel Type: Internal Combustion Engine, Hybrid, Electric

2) By Vehicle Type: Passenger Vehicle, Commercial Vehicle

3) By Functionality Type Market: Connected Auto-Dimming Mirror, Non-connected Auto-Dimming Mirror

4) By Application Type: Inside Rear-View Mirror, Outside Rear-View MirrorTechnological innovations have emerged as the key trend gaining popularity in the auto-dimming mirror market.

Major companies operating in the auto-dimming mirror sector are focused on introducing new technologies to sustain their position in the market. For example, Gentex, a US-based company that develops, designs, and manufactures automatic-dimming rear-view mirrors, launched the latest version of its HomeLink car-to-home automation system that works on Bluetooth. It also controls a variety of radio frequencies by using cloud-based home automation technology that makes up the system. In addition, the company created an app that allows cloud-based device operation.

The auto-dimming mirror market report table of contents includes: