The global automotive electric side view mirror market is expected to post a CAGR of more than 9% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
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Vendors in the market are integrating rearview mirrors with advanced driver assistance systems (ADAS). This technology integrates cameras and mirrors with lighting and telematics to improve visibility through real-time information. Moreover, in 2018, NHTSA in the US mandated the use of rear cameras in all vehicles. This compelled automakers to include rearview visibility systems, such as backup cameras in passenger cars, vans, SUVs, and trucks. Such regulatory mandates have spurred the incorporation of the latest technologies in the automotive mirror systems, which is driving market growth.
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As per Technavio, the development of surround-view mirror system will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Automotive Electric Side View Mirror Market: Development of Surround View Mirror System
The surround-view mirror system or 360o camera system intelligently combines information from various cameras in the vehicle and displays as a single video to provide an elevated view to the driver. It is also backed with sonar technologies to identify the distance between the adjacent vehicles and objects to alert driver with audio signals. This trend is expected to further increase the integration of electronics into the automotive side view mirror, thereby boosting the growth of the market.
“The development of autonomous cars and advances in automotive camera technology will further boost market growth during the forecast period”, says a senior analyst at Technavio.
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Global Automotive Electric Side View Mirror Market: Segmentation Analysis
This market report segments the global automotive electric side view mirror market application (passenger cars and commercial vehicles) and geography (APAC, Europe, MEA, North America, and South America).
The APAC region led the market in 2018, followed by Europe, North America, South America, and MEA respectively. During the forecast period, the APAC region is expected to maintain its dominance over the market. This is due to the growing demand for luxury cars in the region.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Geographic comparison
- Key leading countries
- Landscape disruption
- Competitive scenario
- Vendors covered
- Vendor classification
- Market positioning of vendors
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