Electric Outside Rear View Mirror Market 2022 by Manufacturers, Regions, Type and Application, Forecast to 2030

In accordance to the research report by Credible Markets Electric Outside Rear View Mirror Market was valued at USD 8.85 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 4.1% from 2021 to 2028.

Electric Outside Rear View Mirror Market-Market Overview
Countries worldwide have witnessed a setback due to the COVID-19 pandemic, negatively impacting automobile production. The aftermath of the initial lockdowns implemented in March 2020 resulted in supply chain disruptions, with several production facilities coming to a halt. However, starting 2022 automotive production is expected to witness recovery. The growing demand for enhanced safety, comfort, and convenience in automobiles, especially in developing and mature economies, is anticipated to drive the market growth over the forecast period. Concerns related to passenger and driver protection against accidents are expected to favor product adoption. Changes in vehicle design over the years, such as the introduction of oversized back headrests for vehicle and passenger safety, are expected to contribute to an increased demand for advanced mirrors as their visibility is not affected due to design changes in the vehicle. This has encouraged several manufacturers in the industry to introduce smart mirrors in vehicles to offer better visual clarity while preserving the intended benefit and function.Smart rear-view mirrors include a full-screen monitor for clear visibility, with the potential to switch freely between the two modes, such as camera and mirror. For instance, Nissan has developed a Multi-sensing system with rear camera control and an image-processing program that eliminates or dramatically reduces glare in the rear field that is caused due to trailing cars' headlights and taillights. The camera also helps the driver understand the traffic conditions.

Electric Outside Rear View Mirror Market- Key Market Trends:
The automotive industry is evolving every next day, new technologies are trying to replace the existing conventional option. The automotive outside rearview mirror market is facing tough competition from new camera technologies. Leading automotive OEMs and exterior component manufacturers are spending of huge amount on research and development of future technologies.At Consumer Electronics Show 2016, BMW displayed its i8 Mirrorless Concept. The cameras on the concept vehicle were covered with Gorilla Glass, which comes with a heating element. The system is also having a feature to display a warning alert to the driver when any surrounding vehicles approaching on either side of the vehicle with an alarming indication on the display glass. This feature helps the driver to change the lanes accordingly.Valeo developed a similar technology named Sightstream, in which the cameras are installed where the exterior side mirrors are conventionally mounted, technology comes with driver assistance features such as blind-spot detection and assist while door opening by detecting passing vehicles.

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The key market players for global Electric Outside Rear View Mirror market are listed below:
Ficosa International SA
Magna International Inc
Ichikoh Industries
Samvardhana Motherson Group
Murakami Corporation
Mitsuba Corp
Prakant Electronics
Motherson Sumi Systems Limited
Gentex
MEKRA Lang
SL Corporation
Flabeg
Shanghai Lvxiang

Segmental Analysis of Electric Outside Rear View Mirror market
Based on Type
Memory Storage Electric Rearview Mirror
Foldable Electric Rearview Mirror
Heatable Electric Rearview Mirror

Segmental Analysis of Electric Outside Rear View Mirror market
Based on Applications
Passenger Vehicle
Light Commercial Vehicle

Geographically, the market covers- United States,,Canada,,Germany,,UK,,France,,Italy,,Spain,,Russia,,China,,Japan,,South Korea,,Australia,,Thailand,,Brazil,,Argentina,,Chile,,South Africa,,Egypt,,UAE,,Saudi Arabia

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Heighlights of the report:
A complete backdrop analysis, which includes an assessment of the parent market
Important changes in market dynamics
Market segmentation up to the second or third level
Historical, current, and projected size of the market from the standpoint of both value and volume
Reporting and evaluation of recent industry developments
Market shares and strategies of key players
Emerging niche segments and regional markets
An objective assessment of the trajectory of the market

Frequently Asked Questions About This Report
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