The main function of the automotive rearview mirror is to give the driver a clear vision of all the objects to the side or rear of the vehicle. To ensure safety, manufacturers are focusing on novel technologies for the development of innovative automotive rearview mirrors. As many manufacturing companies have recently launched a rearview mirror that incorporates a rear camera, where the whole display mirror is converted into a video display that provides a panoramic view of the objects behind the vehicle. Significant efforts have been made by component and automobile manufacturers to reduce aerodynamics noise, drag, and vibration.
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Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
Some of the factors that boost the market growth include increase in awareness about vehicle and passenger safety, the trend of integrating additional features, and rise in demand for premium segment vehicles. However, the high replacement cost of the smart rear-view mirror is anticipated to hamper the growth of the market. Furthermore, integration of infotainment and navigation applications are expected to offer lucrative opportunities for the market.
Rise in demand for premium segment vehicles – With the huge increase in buying power due to modernization and the increase in spending power of people, the number of vehicles is increasing significantly across the globe. Thus, the customers who are seeking to buy an automobile are gradually shifting toward the premium segment. Also, the technology is rapidly restructuring the automotive industry, and the automotive Original Equipment Manufacturer (OEM) is continuously adopting new technological changes. Hence, the upcoming automobiles comprise more luxury to enhance the comfort of the passengers and to sustain their position in the market as well which will further boost the automotive rear-view system market growth.
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Key benefits of the report:
- This study presents the analytical depiction of the automotive rear-view system market industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the automotive rear-view system market share.
- The current market is quantitatively analyzed from 2020 to 2027 to highlight the automotive rear-view system market scenario.
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