Automotive Inside Rearview Mirrors (IRVM) Market Size (2024 - 2029)

Automotive Rear View Mirror Market Analysis

The Automotive Inside Rearview Mirrors Market size is estimated at USD 3.08 billion in 2024, and is expected to reach USD 4.08 billion by 2029, growing at a CAGR of 5.82% during the forecast period (2024-2029).

The Automotive inside rearview mirrors was negatively affected by the pandemic, as majority of OEM and auto component suppliers had to close down their production sites with ongoing government lockdown measures. This held the market with low demand from OEMs for IRVM and reduces production volumes from manufacturers. After 2021, market started witnessing a steady demand for the IRVM with rising auto sales across the globe coupled with an improved supply chain network worldwide. 

Moreover, over the medium term, growing production of vehicles with integrated ADAS features in wake of rising awareness toward comfort and safety of passengers and government regulations mandating safety features expected to drive demand in the market. For instance, According to Insurance Institute for Highway Safety says 15,000 people are injured annually in back over accidents, with children and elders having been the most victims. Additionally, the National Highway Traffic Safety Administration report says that nearly 840,000 blind-spot accidents occur every year in the United States. This makes its prime utilization for vehicle IRVM to maintain driver comfort and safety.

Cameras and sensors are a vital part of any new vehicle, as they serve many different purposes. They help OEMs to manufacture cars that are safer, more comfortable to drive, and more fuel-efficient. Rear-view cameras and other camera systems for vehicles have generally been seen as useful tools for improving the safety of vehicles on the road. But in some cases, the complex camera and monitor systems that are supposed to increase the driver's visibility become confusing and distracting.

Asia-Pacific region is likely to dominate global automotive rear view mirror market owing to rising production of vehicle in the India, Japan and China. In addition, this is Europe are likely to register second largest market due to the presence of prominent players in the region for instance, Porsche, AUDI, Volkswagen, and BMW. The technological development in these regions is expected to create significant opportunities in automotive mirror market over the forecast period.

Automotive Rear View Mirror Industry Segmentation

The automotive inside rearview mirror is the mirror placed inside the car cabin which helps the driver to get a clear view of the back. This IRVM has proved its importance and utilization during vehicle reversing and managing blind sports during vehicle driving to improve rider safety and comfort.

The automotive inside rearview mirror market is segmented by vehicle type, power train type, ,features type, sales channel, and geography. On the basis of vehicle type, the market has been segmented into passenger cars and commercial vehicles. On the basis of the power train, the market has been segmented into ICE and electric. On the basis of feature type, the market has been segmented into auto-dimming, prismatic, and blindspot indicators.

On the basis of sales channel, the market has been segmented into OEM and aftermarket. On the basis of geography, the market has been segmented into North America, Europe, Asia-pacific, and the rest of the World. For each segment, and the market sizing and forecast have been done on basis of value (USD million).