The Rear-View Mirror by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
Learn More On The Rear-View Mirror Market:
https://www.thebusinessresearchcompany.com/report/rear-view-mirror-global-market-report
According to The Business Research Company’s Rear-View Mirror, The rear-view mirror market size has grown strongly in recent years. It will grow from $8.85 billion in 2023 to $9.39 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. The growth in the historic period can be attributed to early automotive safety concerns, increased traffic density, regulatory requirements for mirrors, advancements in mirror materials, evolution of automotive design.
The rear-view mirror market size is expected to see strong growth in the next few years. It will grow to $12 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%. The growth in the forecast period can be attributed to expansion of the automotive market in emerging economies, continued focus on vehicle safety, enhanced connectivity features, adoption of smart rear-view mirrors, integration with autonomous vehicle technologies. Major trends in the forecast period include digital rear-view mirrors, augmented reality (ar) mirrors, reduction in blind spots through technology, compact and streamlined mirror designs, integration with vehicle-to-everything (v2x) communication systems.
The increase in the number of vehicles is expected to propel the growth of the rear-view mirror market. Vehicles refer to transportation machines with an engine, such as automobiles, trucks, and buses, for transporting a person or goods. Rear view mirrors are used to ensure safety for the vehicle and passengers. As a result, increasing demand for vehicles also increases the demand for rear-view mirrors. For instance, according to the European Automobile Manufacturers’ Association, a Belgium-based automobile industry body, in 2022, global motor vehicle production reached 85.4 million units, reflecting a 5.7% growth compared to the previous year, 2021. Further, according to the National Automobile Dealers Association, a US-based non-profit organization, the production of light vehicles in North America was projected to reach 14.2 million units in 2022. This production is expected to increase to 15.4 million units in 2023, driven by gradual improvements in the supply chain. Therefore, the increase in the number of vehicles is driving the rear-view mirror market.
Get A Free Sample Of The Report (Includes Graphs And Tables):
https://www.thebusinessresearchcompany.com/sample.aspx?id=6865&type=smp
The rear-view mirror market covered in this report is segmented –
1) By Product Type: Smart Rear-View Mirror, Conventional Rear-View Mirror
2) By Mounting Location: Door Mounted, Body Mounted
3) By Mirror Type: Exterior Mirror, Interior Mirror
4) By Vehicle Type: Passenger Vehicle, Light Commercial Vehicle (LCV), Heavy Commercial Vehicle (HCV)
5) By Feature: Auto dimming, Blind spot detection, Power Control, Automatic Foldable, Heated, Other Features
Technological advancements have emerged as a key trend gaining popularity in the rear-view mirror market. Major companies operating in the rear-view mirror market are focused on developing new technologies to meet consumer demand and reinforce their position. For instance, in in April 2022, Seeing Machines Ltd, an Australian provides driver monitoring technologies, collaborated with Magna, a Canadian automobile mirror provider, on a rear-view mirror that incorporates its Driver Monitoring System (DMS) technology. The two companies produced a demonstrator model that combines a camera, electronics and interior mirror technology, using Seeing Machines enhanced FOVIO eDME (embedded Driver Monitoring Engine) algorithms and software.
The rear-view mirror market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
.
.
.
27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: [email protected]
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
