A recent report published by Infinium Global Research on smart mirror market provides in-depth analysis of segments and sub-segments in global as well as regional smart mirror market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional smart mirror market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global smart mirror market. According to the report, the global smart mirror market is projected to grow at a CAGR of 9% over the forecast period of 2018-2024.
A smart mirror is an advanced mirror integrated with technological components such as cameras, sensors, connectivity equipment, and displays. Some smart mirror products offer touchscreen option that will address the need of accessing up-to-date information required by the user. Depending upon their utilities the functions of smart mirrors can differ. Smart mirrors are useful for recognizing people, talking to them, and can learn an individual’s habits. In addition, it helps provides information such as calendar, social media notifications, newsfeed, and music with an option of Bluetooth connectivity. Besides this, the smart mirrors can be used as side-view and rearview mirrors in the automotive. These mirrors provide enhanced safety features for the automotive. In addition, in the field of retail, smart mirrors are used for suggesting customers with trending outfits.
The major factors of the smart mirror market are driven by the surge in adoption of advanced driver assistance system (ADAS). Here the smart mirror plays a major role in providing comfortable driving assistance and safety to the driver. Moreover, the different modes of mirror offer complete rear-view and control over the reflections. Moreover, the rise in demand for connected devices is promoting the growth in this market. Some of the factors such as concerns regarding the confidentiality of private information and the high cost of smart mirrors are restraining the growth of the smart mirror market. On the contrary, the upsurge in the adoption of the smart home is expected to create lucrative growth opportunities for this market. Moreover, the factors boosting the smart mirror market is the growing investment in R&D activities.
Among the geographies, Europe holds the majority of the market share in the smart mirror market followed by the North America region. The wide acceptance of smart mirror in retail, automobiles, and consumer sectors is the major driver for the growth of the smart mirrors market in these regions. This technology is still in the developing stage and at present, it is mostly adopted in the developed regions. Emerging countries like India, China, and Brazil are expected to be the potential market for the smart mirror market over the years to come.
The report on global smart mirror market covers segments such as end user. On the basis of the end user, the global smart mirror market is categorized into automotive, healthcare, retail, and residential.
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. In this section, the key trends and market size for each geography are provided over the period of 2016-2024. The countries covered in the North America region include the U.S., Canada, and Mexico; while the Asia-Pacific region includes countries such as China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are the major markets included in the European region. The U.S. drives the growth in the North America region, as it is the largest market in the region. In the Asia-pacific region, rapid industrial growth in India and China offer a substantial potential for the growth in the smart mirror market. As a result, the APAC region is projected to experience a growth at a CAGR of x.x% over the forecast period 2018-2024.
The report provides profiles of the companies in the global smart mirror market such as Alke, Evervue, Gentex Corp., Magna International Inc., Panasonic, Pro Display, Samsung Electronics Co. Ltd., Seura, Tech2o, and Toshiba Corp.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the global smart mirror market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of smart mirror market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the smart mirror market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players. This report will help manufacturers, suppliers, and distributors of the smart mirror market to understand the present and future trends in this market and formulate their strategies accordingly.
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