Safety has always been a top priority for automobile manufacturers. Advancement in safety & security has changed with the development of automotive industry. Now, safety measures and technologies have a need to visit and reinvent in terms of the approach implies steep growth in automobile sales. Development of blind spot mirror technology has become a vital aspect among the safety features in automobiles. Conventional mirrors in the automobile industry were utilized to gauge the distance of the approaching vehicle. However, with changing times, aspects such as surging headlight beams and the development of smart mirrors to visualize smaller obstacles has been a big concern for automotive industry. The blind spot mirror has a wide range of angles compared to the conventionally installed mirrors in a vehicle. Curved surface in blind spot mirrors allows maximum vision, which prevents blind spots that cannot be observed directly by the driver.
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Global Blind Spot Mirror Market: Regional Overview
The global blind spot market is segmented into North America, Latin America, Europe, East Asia, South Asia, and MEA (Middle East & Africa). North America market for blind spot mirror is expected to be the largest among the regions. Automotive market in North America is one of the largest market owing to the presence of SUVs and mini trucks plying on the roads. This factor creates a lot of opportunities for blind spot mirror market in North America. South Asia market, which is the future hub for automotive industry, owing to the rising disposable income leads to increasing purchasing power. Thus, the region is anticipated to have lucrative market for blind spot mirror market trailed by East Asia. European market for automotive industry is known for its penchant for high-end cars, whose safety and security features would enhance the blind spot mirror market.
Global Blind Spot Mirror Market: Key Players
The key players in blind spot mirror market are FLABEG Holding GmbH (Germany), Magna International Inc. (Canada), Ficosa International S.A. (Spain), SL Corporation (South Korea), Gentex Corporation (U.S.), and Burco Inc. (U.S.). Valeo SA (France), Honda Lock Manufacturing (Japan), Ichikoh Industries, Ltd. (Japan), Lumax Automotive Systems Ltd (India), and Murakami Corporation (Japan) are among others.
The research report presents a comprehensive assessment of the blind spot mirror market and contains thoughtful insights, facts and historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The blind spot mirror market report provides analysis and information, according to market segments such as geographies, application and industry.
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Global Blind Spot Mirror Market: Segmentation
On the basis of mounting position, the door mounted variety is more preferred in automotive industry. This high adoption is primarily due to the easiness and freedom that it caters to in syndicating the electronic & electrical system. This helps in replacement and maintenance of the blind spot mirrors. On the basis of location, the global blind spot mirror market is segmented by interior blind spot mirror and exterior blind spot mirror. The interior mirror holds more alternatives for customization, such as swapping between normal mirrors and transforming into the digital screen. This assists in improved maneuverability and vehicle control. On the basis of sales channel, the global blind spot mirror market is segmented by OEMs and aftermarket.
Global Blind Spot Mirror Market: Dynamics
The global blind spot mirror market has a handful of driving factors on a global level. A steady increase in the global automotive sales coupled with rising purchasing power of consumers across the globe aids in the substantial growth of blind spot mirror market. Secondly, the increasing number of road accidents have time and again reinstated the importance of safety features in automobiles. Lastly, prominent market players have to deal with tremendous competition in the automotive field from blind spot mirror market. In order to overcome this, manufacturers have to differentiate their product portfolio and offer high technological specifications at competitive prices to stay up in blind spot mirror market. The global blind spot market is expected to grow at a significant CAGR during the forecast period.
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