Smart Mirror Market - Size, Share, Outlook, and Opportunity Analysis, 2019

A smart mirror refers to a highly functioning advanced mirror that is manufactured by the integration of embedded electronics such as sensors, cameras, and displays. Smart mirrors provide a number of features such as internet connectivity and touchscreen option. Memory mirror is a large display that is comprised of cameras and other devices. They are used in showrooms to try on apparel. Furthermore, smart mirrors find applications in automotive, consumer, residential, retail, advertising, and medical & healthcare sectors.

Market Dynamics

Governments of many countries have become more vigilant towards road accidents caused up by backing up of vehicles. Thus, they are taking actions regarding the installation of the smart rear vision system for vehicles. For instance, the U.S. issued a rule requiring rear visibility technology in all new vehicles weighing under one ton manufactured on or after March 31, 2018. Furthermore, the Russian government curiously mandating that all new cars to be equipped with rear cameras as drivers can back up easily. Thus, these factors are expected to drive growth of the market during the forecast period. Manufacturers in the market are focused on fulfilling consumer demand since today’s demand is to be socially active and updated at the same time. Thus, smart mirrors are integrated with social media platforms and provide an update about daily news, weather forecasting, and traffic reports. Hence, these factors are expected to propel the global smart mirror market growth over the forecast period.

Market Taxonomy

This report segments the Global Smart Mirror Market on the basis of Component, Application and Region. On the basis of Component, Global Smart Mirror Market is segmented into Displays, Camera, Sensors and Others (Mic, Speaker, Other communication devices. On the basis of Application, the Global Smart Mirror Market is segmented into Automotive, Consumer & Residential, Healthcare and Retail Sector & advertising. On the basis of region, Global Smart Mirror Market is segmented into North America, Latin America, Europe, Asia pacific, Middle East and Africa.

Key features of the study:

This report provides an in-depth analysis of the Global Smart Mirror Market and provides market size (US$ Million) and compound annual growth rate (CAGR %) for the forecast period (2020-2027), considering 2019 as the base year
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by leading players
It profiles leading players in the global Smart Mirror Market based on the following parameters – regulatory landscape, company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
Key companies covered in the Global Smart Mirror Market includes Panasonic Corporation, Gentex Corporation, Samsung Electronics Co., Ltd., Magna International Inc., Tech2O, Pro Display, ad notam AG, Evervue, Murakami Kaimeido, and Perseus Mirrors.
These key market players are focusing on collaboration strategy with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.
Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, technology up gradation, market expansion, and marketing tactics
The global Smart Mirror market report caters to various stakeholders in this industry including investors, suppliers, distributors, new entrants, and financial analysts
Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the Global Smart Mirror Market

Detailed Segmentation:

Global Smart Mirror Market, By Component: