Automotive Camera-Based Side Mirrors Market Size to grow by USD 15.59 thousand between 2024-2028
According to a research report “ Automotive Camera-Based Side Mirrors Market” by Application (Passenger cars, Commercial vehicles) Product Type (Rear-view mirror, Front mirror) Geography (APAC, Europe, North America, Middle East and Africa, South America)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 15.59 thousand, at a CAGR of 27.85% during the forecast period. In the automotive industry, camera-based side mirrors represent a significant advancement over traditional side-view mirrors. These innovative mirror systems are anticipated to gain increasing popularity among consumers during the forecast period. Camera-based side mirrors provide enhanced visibility, offering a broader field of view compared to conventional mirrors. This expanded perspective enables drivers to detect approaching vehicles from the sides or rear more efficiently. Furthermore, these mirrors eliminate blind spots and deliver high-definition live-streaming video, thereby improving overall driving safety and convenience. The superior functionality of camera-based side mirrors is expected to boost demand for vehicles equipped with these advanced mirror systems.
Browse market data tables, figures, and in-depth TOC on “Automotive Camera-Based Side Mirrors Market” by Application (Passenger cars, Commercial vehicles) Product Type (Rear-view mirror, Front mirror) Geography (APAC, Europe, North America, Middle East and Africa, South America) Global Forecast to 2028. Download Free Sample
By Application, the Passenger cars segment is projected to dominate the market size in 2024
The automotive camera-based side mirrors market is poised for significant growth during the forecast period, driven by the expanding sales of passenger cars and light commercial vehicles (LCVs) in emerging economies. In particular, the demand for rear-view mirrors is expected to surge due to increasing passenger car registrations in developing countries like China, India, Brazil, South Korea, Indonesia, and parts of Eastern Europe. Furthermore, the implementation of new safety regulations and emission norms, coupled with technological advancements from key market players, will further fuel market expansion. LCVs, such as minivans, are increasingly being utilized for commercial applications like mobile canteens and intercity transportation, leading to a corresponding increase in LCV sales and the demand for advanced camera-based side mirrors.
By Product Type, Rear-view mirror segment is expected to hold the largest market size for the year 2024
The global automotive camera-based side mirrors market is primarily driven by the passenger car segment, with luxury automakers leading the adoption of these advanced safety features. Regulatory bodies are increasingly permitting camera-based mirror systems as alternatives to conventional mirrors, signaling a shift in the automotive industry. Notably, the US market, which currently does not allow the installation of camera-based side mirrors in production vehicles, is expected to undergo regulatory changes during the forecast period. This regulatory evolution, coupled with the growing emphasis on vehicle safety, will likely fuel the demand for camera-based side mirrors in North America, contributing positively to the passenger car segment's growth.
APAC is forecasted to hold the largest market size by region in 2024
The Automotive Camera-Based Side Mirrors market represents a significant growth opportunity for technology innovators and automotive manufacturers. This advanced mirror technology, which utilizes cameras instead of traditional glass mirrors, offers enhanced safety features, improved visibility, and sleek design. Market trends indicate increasing consumer preference for these mirrors due to their ability to provide a wider viewing angle and reduce blind spots. Additionally, regulatory initiatives promoting safety and advanced technology in vehicles are expected to further fuel market expansion.
The Automotive Camera-Based Side Mirrors Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
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Research Analysis Overview
The Automotive Camera-Based Side Mirrors Market is witnessing significant growth due to the increasing demand for enhanced driving visibility and advanced safety features. Camera-based mirror systems offer superior rearview capabilities, enabling drivers to see beyond their blind spots and improve overall vehicle safety. These systems incorporate features like lane departure warning, blind-spot detection, and automatic folding, making them a popular choice among Automotive OEMs and consumers. The market for camera-based side mirrors is segmented into commercial vehicles and passenger cars, with the premium segment leading the passenger vehicle market. The use of these systems is not limited to passenger vehicles alone, as they are also being adopted by commercial vehicle manufacturers to ensure better safety and compliance with regulatory requirements. These mirror systems offer 360-degree viewing angles and night vision assistance, making them an essential safety feature for modern vehicles. However, the high cost of implementation and potential flaws related to camera quality and reliability may hinder the market growth. Despite these challenges, the future of automotive side mirrors looks promising, with ongoing advancements in camera technology and increasing consumer demand for safety features.
Market Research Overview
The Automotive Camera-Based Side Mirrors market is a significant component of the automotive safety ecosystem, with growing demand in the automotive market due to the integration of smart connectivity features and advanced technologies. These mirror systems use high-definition cameras instead of traditional glass mirrors, offering improved functionality, resolution, and driving visibility. Rearview capabilities include lane departure warning, blind-spot detection, and vehicle safety features. Automotive manufacturers are increasingly adopting camera-based mirror systems in both passenger cars and commercial vehicles, including electric and IC engine models. The use of these systems reduces noise and CO2 emissions, making them particularly appealing for electric vehicles and luxury/premium segment vehicles. Exterior component manufacturers are investing in camera technologies to meet this demand. Digital mirrors and surround-view mirror systems offer 360-degree viewing angles and night vision assistance, enhancing safety and convenience. However, challenges such as cost, noise reduction, and flaws in camera technologies remain. Government incentives for vehicle safety and the rise of autonomous vehicles are expected to further boost market growth. Automatic folding, blind spot indicator, auto-dimming, and electric features are becoming standard in premium passenger vehicles.
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