Global Market for Auto-Dimming Mirrors to Reach US$3.7 Billion by 2018, According to New Report by Global Industry Analysts, Inc.
GIA announces the release of a comprehensive global report on Auto-Dimming Mirrors markets. The world market for Auto-Dimming Mirrors is forecast to reach US$3.7 billion by 2018, driven by growth in broader markets such as rear-view mirrors and specifically, the automotive industry. Increased demand for integrated safety features, especially catering to night vision driving, healthy ROIs, economic turnaround, and technological advancements, will translate into rapid development in the market. With new players entering the fray, the near monopolistic status of the Auto-Dimming Mirrors market is bound to change, and intense competition and product differentiation will be key growth determinants.
San Jose, California (PRWEB) July 20, 2012
Follow us on LinkedIn — Automobile safety technologies have evolved at a frenetic pace over the decades, driven partially by Government mandates and in part by OEMs focus on safety as a measure for brand differentiation in the marketplace. Safety technologies provide the perfect platform for creating real functional demarcation. Over the years, the technology has evolved from passive safety solutions designed to react and mitigate impact after occurrence of the accident to active safety technologies that aim at proactively preventing accidents. The global Auto-Dimming Mirror technology originally developed for use in fighter aircrafts to minimize glare, has over the years evolved in form and usability, with application areas extending beyond the traditional realms to the burgeoning automotive industry as well. Night driving, especially on poorly lit highways can be uncomfortable and hazardous as the extremely bright glare from vehicles in the rear can act as major distraction, often blinding the driver and leading to fatal accidents that could have been easily avoided. The concept of auto-dimming mirror installation in vehicles was a major breakthrough in this area and has emerged as an important accessory to ensure safe driving. Growth in the market is largely dependent on the rear-view mirror industry and to a great degree mirrors the trends, dynamics and structure of the automobile industry.
The auto-dimming or electrochromic mirrors market is currently healthy and growing at a robust rate. In line with the increasing usage of auto-dimming mirrors, the market witnessed aggressive growth rates and is anticipated to continue at the same pace in the near future. The highly effervescent nature of the market has tempted developers to bring in increased dose of energy and focus in order to gain traction in this highly profitable market segment. However, despite robust growth potential, high costs continue to offset steady penetration levels in most markets. In order to combat the challenge, manufacturers are looking at innovative and cost-effective technologies that are differentiated by lower price points and advanced features. The trend of embedding and integrating mirrors with camera and LED technologies for driver assistance and comfort is rapidly becoming the norm. Another low-cost remedy to eliminate blind spots and night glare would be the use of flat aspheric and low-glare mirrors. In the near term, auto-dimming mirrors integrated with radar systems for detection of blind spots are expected to become a standard feature in majority automobile variants.
Recuperation in economic conditions and an increase in disposable income levels are fuelling the demand for high-end vehicles featuring latest technological gadgetry and accessories. Growing clamor for automobiles fitted with advanced music systems, lush interiors, remote controlled systems and integrated LCD displays in rear-view mirrors indicate changing consumer perceptions and demand for the latest technological offerings. Auto-dimming mirrors featuring compass and temperature read-outs which display information regarding directions and climatic conditions is a case in point. Another example is that of wide-angle mirrors that offer a wider view compared to the ordinary mirrors. Applicability and usability of auto-dimming mirrors is rapidly moving outside the scope of traditional rear-view functions, to newer realms including sunroofs for concept cars and dimmable windows in aircraft passenger cabins.
North America and Europe represents the largest regional markets, capturing a major chunk of the global market, as stated by the new market research report on Auto-Dimming Mirrors. Post recession, despite resurgence in automotive sales and recovery in discretionary aftermarket spends, the European automotive industry continues to reel under the impact of the sovereign debt crisis. Stringent credit restrictions, loss of consumer confidence, escalating labor costs and an uncertain domestic environment is bound to deal a heavy hand to the overall automotive industry, impacting niche markets such as rear-view mirrors and auto components. In the scenario, fast growing Asian markets are expected to offer a ray of hope. Increase in production capacities, low penetration levels and rising affluence in these regions are reflected in the surging demand for new automobiles and accessories. Asia-Pacific, buoyed by high potential markets of China, India, Taiwan and Korea, is forecast to race ahead at the strongest CAGR of about 24% through 2018.
The market for Interior Auto-Dimming Mirrors, equipped with specialized electro-optic sensors to detect glare and automatically darken the mirror has taking huge strides, with auto makers increasingly featuring such mirrors as standard features in most high-end passenger vehicles. The interior mirrors market accounts for the larger share of the market and is forecast to expand at a sturdy compounded annual growth rate over the years. Penetration rates of the interior mirrors are highest in developed countries of North America and Western Europe, where electrochromic interior mirrors are offered as standard equipment on high-end, luxury and medium priced versions of vehicles.
Key players profiled in the report include ABEO Technology, AlphaMirror Direct, FICOSA International SA, FLABEG Holding GmbH, Gentex Corporation, Magna International, Inc., Murakami Kaimeido, SMR-Samvardhana Motherson Reflectec, Tokai Rika Co., Ltd., among others.
The research report titled “Auto-Dimming Mirrors: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive market overview, impact of recession, current market trends, key growth drivers, recent industry activity, and profiles of major/niche global market participants. The report provides annual sales estimates and projections for the years 2010 through 2018 in both value (US$ Million) and volume (thousand units) terms for geographic markets including, US, Canada, Japan, Europe, Asia-Pacific, and Rest of World. Key product segments analyzed include Exterior and Interior Auto-Dimming Mirrors. The study also provides historic data for an insight into market evolution over the period 2004 through 2009.
For more details about this comprehensive market research report, please visit —
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world’s largest and reputed market research firms.
Global Industry Analysts, Inc.
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