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Global Auto Dimming Mirror Market to Grow at a CAGR of 4.7% During 2021-2026, Aided by the Increasing Need for Safety in Automobiles

According to a new report by EMR titled, ‘Global Auto Dimming Mirror Market Report and Forecast 2021-2026’, the market attained a value of about USD 1.97 billion in 2020. The industry is further expected to grow at a CAGR of 4.7% in the forecast period of 2021-2026 to reach USD 2.6 billion by 2026.

The global auto dimming mirror industry is being driven by the growing focus of major players to provide improved and advanced features integrated with latest technologies like Internet of Things (IoT) and cloud computing. Some of these advanced features include wireless controls to operate home automation, tire pressure measurement displays, temperature measurement displays, navigation systems, Bluetooth, and blind spot detection, among others. Over the forecast period, the outside rear-view mirror segment is expected to witness a significant growth. This can be attributed to the increasing regulatory compliance pertaining to the use of outside rear-view mirrors in all types of vehicles.

The increasing focus of companies on developing new products with state-of-the-art features can prove to be a key factor in augmenting the market growth in the near future. For instance, in November 2019, Gentex Corporation (NASDAQ: GNTX) announced the release of three new products at the SEMA show of 2019. Among these products was a new auto dimming mirror with an integrated HomeLink button and home automation system based on cloud. Thus, such developments can play a pivotal role in determining the success of the auto dimming mirror industry.

Market Analysis by Type, Glass Type, Vehicle Type, Fuel Type, Application, and Region:

  • The market on the basis of type can be divided into connected, and non-connected. 
  • Based on glass type, the industry can be divided into smart glass, SPD glass, photochromatic glass, liquid crystal, thermotropics, electrochromic, and others. 
  • On the basis of vehicle type, the market is bifurcated into passenger vehicle and commercial vehicle.
  • By fuel type, the market is divided into internal combustion engine, electric, and hybrid.
  • The market is divided based on application into inside rear-view mirror and outside rear-view mirror.
  • The regional markets for auto dimming mirror include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The growing demand for advanced and state-of-the-art features in vehicles is a key driver for the market growth.
  • The rapidly growing automotive industry is an important factor in the success of the market.
  • The rising awareness of road safety features in automobiles can propel the industry growth.
  • The developing regions like the Asia Pacific are expected to provide great opportunities for the industry growth owing to the rising disposable incomes and rising consumer awareness.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for auto dimming mirror  for the periods (2016-2020) and (2021-2026). 
  • The report also offers the historical (2016-2020) and forecast (2021-2026) markets for the types, glass types, vehicles types, fuel types, applications, and regions of auto dimming mirror. 
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global auto dimming mirror market are Gentex Corporation, Magna International Inc., Ficosa Internacional SA, Shenzhen Germid Co. Ltd., and others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging. 

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over a 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve. 

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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