Global Smart Mirror Market to reach USD 4.5 billion by 2025.
Global Smart Mirror Market valued approximately USD 1.92 billion in 2016 is anticipated to grow with a healthy growth rate of more than 9.93% over the forecast period 2018-2025. Advancement in technology and the growing use of smart mirrors in the automobile sector are the major factors driving the growth in Global Smart Mirror Market. However, the cost of these mirrors is very high and lack of awareness among people are the constraints in the growth of the market. A smart mirror is a multifunctional mirror that has an electronic display screen, placed behind the glass. The display provides the viewer with different information like time, date, weather and news updates. This mirror is useful for the person who wants to stay informed while doing a work or want to multitask. Smart mirrors have various features such as touchscreen option and Internet connectivity. The smart mirror is being used in vehicles in a different manner like, for rear-view, that assists in parking the vehicle, mirror with self-dimming and light sensors are used to control reflections that provide improved road safety by improving driver convenience. Thus, the demand for smart mirrors is getting strong in the automotive sector. The smart mirrors have become popular among those having busy work schedules, luxurious population and changing lifestyle. Moreover, smart mirrors have various applications which include consumer, household, retail, advertising, medical & healthcare.
The regional analysis of Global Smart Mirror Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share. Whereas, owing to the countries such as China, Japan, and India, Asia Pacific region is anticipated to exhibit higher growth rate / CAGR over the forecast period 2018-2025.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
- Hospitality and Retail
- Others (Smart Homes and Healthcare)
- North America
- Asia Pacific
- Latin America
- Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2015, 2016
Base year – 2017
Forecast period – 2018 to 2025
The industry is seeming to be fairly competitive. Some of the leading market players include Gentex Corporation, Magna International Inc., ACEP France SA, Panasonic Corporation, Seura Solutions, Samsung Electronics, Dension, Keonn Technologies, S.L. and Mirrus Corporation, Evervue, Alke, Toshiba, Ad Notam AG, Pro Display, and Tech2o, Electric Mirror, Murakami Kaimeido, Ficosa and so on. Acquisitions and effective mergers are some of the strategies adopted by the key manufacturers. New product launches and continuous technological innovations are the key strategies adopted by the major players.
Target Audience of the Global Smart Mirror Market in Market Study:
- Key Consulting Companies & Advisors
- Large, medium-sized, and small enterprises
- Venture capitalists
- Value-Added Resellers (VARs)
- Third-party knowledge providers
- Investment bankers