LONDON--(BUSINESS WIRE)--The truck mirror system market size is poised to grow by USD 2.65 billion during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
The automotive industry is witnessing the fitment of rear-view mirror systems with advanced functionalities such as electrically adjustable and foldable, in-built defogger, day/night functionality, and integrated camera display. Some of these features are now available for truck applications as well. Pickup trucks, for instance, feature several driver-assistance functionalities in rear-view mirrors. For instance, the pickup trucks offered by Ford Motor, GMC, and FCA’s RAM feature various advanced functionalities in interior and exterior rear-view mirrors, which include auto-dimming feature, heater, and defogger. The medium- and heavy duty trucks offered in most developed automotive markets feature electrically operated mirrors. Thus, the increasing functionalities in rear-view mirrors will drive the truck mirror system market growth during the forecast period.
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As per Technavio, the developments in interior rear-view mirror technologies 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.
Truck Mirror System Market: Developments in Interior Rear-View Mirror Technologies
Prominent automakers are focusing on augmenting side mirrors with camera systems and screens. Automakers are focusing on hybridization; a mix of conventional mirror system and camera-based displays, of exterior side mirrors as well as interior rear-view mirrors. For instance, in November 2018, Jaguar Land Rover announced the incorporation of hybrid interior rear-view mirror ‘ClearSight Rear View Mirror’ in its 2020 model Evoque. The mirror switches between the actual rear-view mirror and HD display with the flip of a switch placed at the rear center of the mirror. In addition, the use of smart glass in the manufacture of rear-view mirror has increased over the years. Thus, developments in interior rear-view mirror technologies will drive the truck mirror system market growth during the forecast period.
“Other factors such as developments in side rear-view mirror technologies, and the integration of biometric authentication system with mirror system will have a significant impact on the growth of the truck mirror system market value during the forecast period,” says a senior analyst at Technavio.
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Truck Mirror System Market: Segmentation Analysis
This market research report segments the truck mirror system market by application (light-duty trucks and medium and heavy-duty trucks) and geography (the Americas, APAC, and EMEA).
The Americas led the market in 2018, followed by APAC and EMEA respectively. During the forecast period, the Americas is expected to maintain its dominance and register the highest incremental growth due to factors such as the high demand for advanced technologies that provide comfort while driving and improve the safety of the vehicle, and the growth of the medium- and heavy-duty trucks market.
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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
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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