Automotive mirror replacement system is a camera monitor system used to replace a car’s exterior and interior mirrors. Automotive mirror replacement system consists of three cameras which are installed in the vehicle. Instead of the rear-view mirror, automotive mirror replacement system provides two monitors with organic light emitting diodes (OLEDs) oriented in the usual viewing directions and displaying what is happening at the rear and sides of the vehicle.
Rise in demand for technologically advanced safety system is expected to be a key driving factor of the automotive mirror replacement system market during the forecast period. Increase in production of vehicles are also projected to boost the automotive mirror replacement system market during the forecast period. Implementation of stringent norms on the automotive industry regarding safety concerns by global regulatory bodies is anticipated to augment the demand for automotive mirror replacement system further.
Automotive mirror replacement system offers several benefits such as better rear view even in bad weather, longer life, safety, and expansion in driver’s field view. This is estimated to provide lucrative opportunities to the automotive mirror replacement system market. In case of malfunction in camera while driving will not project actual rear view which can be challenging to drive. It is anticipated to hamper the automotive mirror replacement system market during the forecast period. In cold weather, visibility in rear view mirror becomes difficult which can cause accident, damage. This can be overcome using automotive mirror replacement system.
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The automotive mirror replacement system market can be segmented based on portability, vehicle type, display range, and region. Based on portability, the automotive mirror replacement system market can be bifurcated into embedded type and portable type. The embedded type segment accounts for a large share of the automotive mirror replacement system market, as embedded type systems are fixed and used by most of the global automotive industries as compared to portable type systems, which are not fixed.
In terms of vehicle type, the automotive mirror replacement system market can be classified into passenger vehicles and commercial vehicles. The passenger vehicles segment is further sub-classified into sedans, multi-purpose vehicles, and sports utility vehicles. The commercial vehicles segment can be further split into lightweight commercial vehicles and heavy commercial vehicles.
In terms of display range, the automotive mirror replacement system market can be divided into short-range, mid-range, and long-range. The long-range segment dominates the automotive mirror replacement system market. Most of the modern vehicles prefer long-range display range as it projects long field distance in the screen in an enlarged view as compared to the mid-range view and short-range view.
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Based on geography, the automotive mirror replacement system market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America and Europe accounts for a major share of the global automotive mirror replacement system market owing to the high adoption rate of automotive mirror replacement system and expansion in the automotive sector. This has led to an increase in the production of vehicles installed with automotive mirror replacement system. The automotive mirror replacement system market in Asia Pacific, especially in China, Japan, and South Korea is also anticipated to expand due to adoption of technological advancements during the forecast period.
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