Automotive Inside Rearview Mirrors (IRVM) Market Share

Market Share of Automotive Inside Rearview Mirrors (IRVM) Industry

The automotive market is moderately fragmented due to the presence of many local and global players such as Gentex Corporation, Magna International Inc., and Samvardhana Motherson Reflectec amongst others. The market is transforming but the new technologies are right now available mostly in luxury vehicles and in a selected market and near future, it will not replace the conventional mirrors. As the laws are still with conventional mirrors.

Although companies are increasing investment in R&D projects to provide more convenient and safer experience to the car owner without replacing the conventional mirrors. With rising technological dominance and improved IRVM features market has witnessed immense growth. For instance,

• In August 2022, the Mahindra and Mahindra introduced the new Scorpio N petrol variant with the auto dimming IRVM in order to improve user safety and comfort during the rises.
• In July 2022, SemiDrive announced that Chery's OMODA 5 SUV has adopted SemiDrive's X9 series automotive SoC (system-on-a-chip). The X9 series can provide outputs of up to 10 HD screens, such as instrument panels, console control, rearview mirrors, and entertainment for back row passengers, through a single chip. It supports multi-screen sharing and interaction.

Automotive Rear View Mirror Market Leaders

1. Gentex Corporation

2. Magna International, Inc.

3. Samvardhana Motherson Reflectec

4. Ficosa International SA

5. Murakami Corporation

*Disclaimer: Major Players sorted in no particular order