DUBLIN--(BUSINESS WIRE)--The "Global Automotive Electric Side View Mirror Market 2019-2023" report has been added to ResearchAndMarkets.com's offering.
The automotive electric side view mirror market will register a CAGR of over 9% by 2023.
The automotive industry is undergoing a radical change in the form of electrification of vehicle components. Vehicle manufacturers are replacing mechanical parts with electronic components to increase the vehicle's power and fuel efficiency.
Similarly, conventional side-view mirrors increase the air drag of the vehicle and negatively affect its fuel efficiency. Replacing these with camera-based side mirrors decreases the vehicle's overall air drag and allows the vehicle to consume less fuel.
The rise in the number of electronic parts used in the automotive industry will eventually reduce the production cost due to the economies of scale. This will, in turn, reduce the prices of electronic sensors, actuators, and mechanisms used in electric side view mirrors and drive adoption during the forecast period.
Increasing safety concerns in automotive ecosystem
Most safety measures are focused on drivers as human errors are the primary cause of accidents. Vehicle safety in terms of side-view visibility is evolving as an important focus for customers and vehicle manufacturers.
As a result, the dimming mirror emerged in the automotive market. Although the cost of these systems is high, with increasing demand, costs are expected to decrease during the forecast period.
Circuitry issues with electric side view mirrors leading to high replacement and repair costs
Replacement costs associated with automotive technologies have increased with advances in automotive technologies. The maintenance cost of electric side view mirrors is considerably higher than that of conventional side-view mirrors.
Despite the benefits of automotive electric side view mirrors, vehicle owners and drivers may prefer to use conventional mirrors owing to reliability concerns. Automotive electric side view mirrors may fail due to functional and operational issues. These issues are a major challenge for the growth of the market.
Competitive Landscape
The market appears to be moderately fragmented and with the presence of several vendors. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market's competitive landscape and offering information on the products offered by companies.
Key Players
- Ficosa Internacional S.A.
- Magna International Inc.
- Mitsuba Corp.
- Motherson Sumi Systems Limited
- Murakami Corporation
Topics Covered
PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
PART 03: MARKET LANDSCAPE
- Market ecosystem
- Market segmentation analysis
PART 04: MARKET SIZING
- Market definition
- Market sizing 2018
- Market size and forecast 2018-2023
PART 05: FIVE FORCES ANALYSIS
PART 06: MARKET SEGMENTATION BY APPLICATION
- Comparison by application
- Passenger cars - Market size and forecast 2018-2023
- Commercial vehicles - Market size and forecast 2018-2023
- Market opportunity by application
PART 07: CUSTOMER LANDSCAPE
PART 08: GEOGRAPHIC LANDSCAPE
- Geographic comparison
- APAC - Market size and forecast 2018-2023
- Europe - Market size and forecast 2018-2023
- North America - Market size and forecast 2018-2023
- South America - Market size and forecast 2018-2023
- MEA - Market size and forecast 2018-2023
- Key leading countries
- Market opportunity
PART 09: DRIVERS AND CHALLENGES
PART 10: MARKET TRENDS
- Development of surround view mirror system
- Development of autonomous cars
- Advances in automotive camera technology
- Growing popularity of integrated memory system that store seat and side mirror preference
PART 11: VENDOR LANDSCAPE
- Overview
- Landscape disruption
- Competitive scenario
PART 12: VENDOR ANALYSIS
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Ficosa Internacional S.A.
- Magna International Inc.
- Mitsuba Corp.
- Motherson Sumi Systems Limited
- Murakami Corporation
For more information about this report visit https://www.researchandmarkets.com/research/dwxrvp/global_automotive?w=4
