Market Research Future published a research report on “Smart Mirror Market Size Research Report- Global Forecast 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.
Smart Mirror Market Size 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
Market Research Future (MRFR) asserts that the Smart Mirror Market Size is estimated to touch a valuation of USD 4.01 billion, garnering a CAGR of 14.15% during the forecast period (2018-2023). The surging adoption of advanced driver assistance system in the automotive sector is predicted to encourage the market’s growth worldwide. Smart mirrors can be referred to as advanced mirrors which are specifically made by integrating sensors, displays, and camera as embedded electronic components. Such next-generation mirrors provide internet connectivity along with touchscreen features and are high in demand owing to their convenience, design, and safety. The smart mirror plays a vital role in the modern-day shopping community and is considered an exception to the traditional mirrors used in automobiles, malls, and homes.
The Smart Mirror Market Size is experiencing a rapid growth rate with the surging adoption of advanced driver assistance system in the automotive sector. The transition of the retail sector into digital stores is considered another factor is encouraging the marker growth. With road safety taken into prime consideration due to the rising number of accidents, the demand for smart mirrors in the automotive sector has increased globally. In the advertising and retail sector, smart mirrors find its application mainly in the dressing rooms which triggers its sales and offer a better customer experience. These mirrors offer seamless experience by allowing the users to access the information from connected devices like laptops, smartphones, TV, and laptops. It also addresses up-to-date information which is required by the users and offers them better access. Thereby, these mirrors generate new opportunities for the fashion designers as well as the manufacturers in order to come up with new ideas, standout in the competition, and grow their market share. Smart mirrors also have a crucial role to play in the healthcare market. Smart mirror technologies can help to improve patient care, thus minimizing the expenses of healthcare. They also deliver patient-specific information like real-time vital statistics of the patients along with prescription reminders. Such factors are considered to encourage market growth across the globe. Moreover, the presence of start-ups involved in offering innovative features to their smart mirror products is likely to bolster the market growth in the long run.
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The prominent players in the Smart Mirror Market Size 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
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
4 Market Landscape
4.1 Porter’s Five Forces Analysis
4.1.1 Threat Of New Entrants
4.1.2 Bargaining Power Of Buyers
4.1.3 Threat Of Substitutes
4.1.4 Segment Rivalry
4.2 Value Chain/Supply Chain Of Global Smart Mirrors Market
5 Industry Overview Of Global Smart Mirrors Market
5.2 Growth Drivers
5.3 Impact Analysis
Know More about this Report @ https://www.marketwatch.com/press-release/smart-mirrors-market-2019-global-size-analysis-and-gross-margin-research-report-industry-trends-growth-factors-emerging-technologies-key-vendors-and-regional-forecast-2023-2019-10-18
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