About Safety Mirrors
A mirror is a polished or smooth surface made up using acrylic, polycarbonate, and stainless steel that create an image by using the reflection of an object. Safety mirror mostly used in automotive sectors to give rear view to the driver. In some countries, the mirror is mandatory in the vehicle to give a rear view. Increasing traffic & security solutions and increasing demand for mirrors in the automotive sector are the major drivers for the market. Additionally, the emergence of the smart mirror for safety and security purpose, increasing research and development activities by established players, an increasing number of mergers and partnerships between vehicle manufacturers and mirror manufacturers have been supplementing the overall growth of the market. However, lack of standard, intense competition and the emergence of smart displays and digital cameras are the factors that have been limiting the overall growth of the market.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Competition among existing players is due to the stiff market share occupied by leading players. The companies are implementing strategic activities such as acquisition and mergers along with collaboration with companies in other industries to help them in improving sustenance and maintaining their competitive advantages.The Vendors having a strong hold in the market are Fred Silver Co, Duravision Systems, Ashtree Vision and Safety, SE Kure Domes & Mirrors. Analyst at AMA Research estimates that United States and European Vendors will contribute the maximum growth to Global Safety Mirrors market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Fred Silver Co (United States), Duravision Systems (India), Ashtree Vision and Safety (United Kingdom), SE Kure Domes & Mirrors (United States), Clarke's Safety Mirrors (United Kingdom), Smartech Safety Solutions Private Limited (India), Safe Fleet Bus & Rail (United States) and Walker Glass Company Ltd (Canada) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Clarke's Safety Mirrors Ltd (United Kingdom) and Lester L. Brossard Company (United States).
Segmentation Overview
AMA Research has segmented the market of Global Safety Mirrors market by Type (Convex Safety Mirror, Flat Safety Mirror and Dome Safety Mirror), Application (Commercial and Residential) and Region.
On the basis of geography, the market of Safety Mirrors has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Material , the sub-segment i.e. Acrylic will boost the Safety Mirrors market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Installation Type, the sub-segment i.e. Indoor will boost the Safety Mirrors market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Size, the sub-segment i.e. Small will boost the Safety Mirrors market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
An Emergence of Smart Mirror for Safety and Security purpose
Market Growth Drivers:
Increasing Demand due to High Demand for Traffic and Security Solutions and High Demand from Rapidly Growing Automotive Sector
Challenges:
Intense Competition and the Emergence of Smart Displays and Digital Cameras
Restraints:
Lack of Standard and Fluctuation in the prices of Raw Material
Opportunities:
New Launches and Increasing Research and Development Activities by Established Players and Increasing Number of Merges and Partnerships between Vehicle Manufacturers and Mirror manufacturers
Market Leaders and their expansionary development strategies
In October 2023, Safe-O-Way International, a leading provider of traffic safety products, announced a strategic partnership with RoadTech CCTV, a UK company specializing in traffic monitoring systems. The partnership aims to develop integrated solutions for improving road safety at intersections and blind spots.
In October 2023, Pilkington Group, a UK-based glass manufacturer, introduced its new "Auto-Dimming Safety Mirrors" that automatically adjust their tint based on ambient light conditions, reducing glare and improving visibility for drivers, especially at night.
Key Target Audience
Mirror Manufacturers, Raw Material Suppliers, Suppliers and Distributors, Research Organizations, Investors and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.