Smart Mirror Market Research Report by Component (hardware, software, services), Application (automotive, hospitality & retail, others), Technology (self- diming, self-cleaning, self-repairing), Region (Europe, APAC, RoW)-Global Forecast till 2023
The global smart mirrors market is poised to have an incredible growth at 14.15% CAGR over the forecast period (2018-2023). Smart mirrors also known as “magic mirrors” are two-way mirrors that has an inbuilt display just behind the glass. This display can easily show anything a person desires on the surface of the mirror such as upcoming appointments, news feed, weather forecast, current time and more. It is basically a mirror that is infused with a smart technology. Smart mirrors are available in every size from full bathroom mirrors to small table mirrors and more. These mirrors are embedded with electronics namely touchscreen option, internet connectivity, sensors, digital displays and cameras. In the automotive industry it is used as an alternative to rear-view mirrors, in the residential and retail sectors it is used to analyze the needs of the consumers particularly in respect to makeup and cosmetic, in the healthcare domain it is used for improving patient care and compliance, deliver patient specific information and thereby reduce surplus healthcare cost and advertisers use it for target advertising. Apart from this, smart mirrors are widely used in hotels, public restrooms, elevators and shopping malls.
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There are ample factors that is boosting the growth of the smart mirrors market. These factors as stated by the Market Research Future (MRFR) report include growing demand from the automotive industry, innovative and new features of smart mirrors, transition to digital stores from traditional stores, increasing use of advanced driver assistance system in the automotive industry, and increasing need for connect devices. Also, the growing demand for such mirrors in public restrooms, hotels, elevators, outlets and major shopping malls is again predicted to propel the Smart Mirror Market growth. On the contrary, high implementation cost, technical drawbacks namely faulty sensors, privacy concerns and lack of awareness are factors that may hamper the growth of the smart mirrors market over the forecast period.
The prominent players in the Smart Mirror Market are – Gentex Corporation (U.S.), Magna International Inc. (Canada), ACEP France SAS (France), Panasonic Corporation (Japan), Seura Solutions (U.S.), Samsung Electronics Co., Ltd. (South Korea), Keonn Technologies (Spain), Mirrus Corporation Inc. (U.S.), Perseus Mirrors (U.S.), Electric Mirror, LLC (U.S.), among others.
Smart Mirrors Global Market - Segmentation
MRFR report offers a wide segmental analysis of the smart mirrors market on the basis of component, application and technology.
· Based on component, the smart mirrors market is segmented into services, software and hardware.
· Based on application, the smart mirrors market is segmented into hospitality and retail, automotive and others. Of these, hospitality and market is predicted to have the largest share in the market over the forecast period.
· Based on technology, the smart mirrors market is segmented into self-diming and others (self-repairing, self-cleaning).
Smart Mirrors Global Market - Regional Analysis
By region, the smart mirrors market covers growth opportunities and latest trends across Rest of the World, Asia Pacific, Europe and North America. Of these, Europe will have colossal growth in smart mirrors market over the forecast period and is predicted to experience tremendous growth opportunities. The smart mirrors market in North America is predicted to develop at a substantial rate due to the growing use of such next-generation mirrors in different segments namely consumer segments, healthcare, retail and hospitality and automotive. In the APAC region, the smart mirrors market is anticipated to have a remarkable growth owing to the emerging startups offering advanced features namely integration of personal assistance and other artificial intelligence-based technologies to smart mirrors. Moreover, introduction of favorable regulations laid down by the government here is likely to boost the market growth in the future.
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TABLE OF CONTENTS
LIST OF FIGURES
FIGURE 1 Global Smart Mirrors Market Segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Porter’s Five Forces Analysis Of Global Smart Mirrors Market
FIGURE 4 Value Chain Of Global Smart Mirrors Market
FIGURE 5 Share Of Global Smart Mirrors Market In 2017, By Country (In %)
FIGURE 6 Global Smart Mirrors Market, 2018–2023
FIGURE 7 Global Smart Mirrors Market Size, By Component, 2018
FIGURE 8 Share Of Global Smart Mirrors Market, By Component, 2018 To 2023
FIGURE 9 Global Smart Mirrors Market Size, By Application, 2018
FIGURE 10 Share Of Global Smart Mirrors Market, By Application, 2018 To 2023
FIGURE 11 Global Smart Mirrors Market Size, By Technology, 2018
FIGURE 12 Share Of Global Smart Mirrors Market, By Technology, 2018 To 2023
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