Global Smart Mirror Market is valued approximately USD 1.9 Billion in 2018 and is anticipated to grow with a healthy growth rate of more than 11.68% over the forecast period 2019-2026.
Smart mirror is modern and alternative of traditional mirror equipped with sensors, integrated displays, connectivity equipment’s and cameras. These mirrors are used in different industries like automotive, housing, healthcare, retail and others. Their utility differs as per the industry requirement like in automotive industry they can be use as side view and rear view for ensuring safety measures. In retail, the mirror can be used as a tool of promotion. Factors like increase in the adoption of Internet of things and connected devices are driving the demand. Furthermore, rise in the standard of living, increasing affluent population are driving the demand. Significant growth opportunities in the smart homes and health care sector can propel the demand for the smart mirror in the market, in healthcare it can reduce healthcare expanse, also can give real time information such as body temperature, blood pressure, sugar level, and heart rate etc. in smart houses the can be used in recognizing people, talking to them and learning and understanding an individual behavior. Furthermore, the advertising and media houses are using smart mirrors for displaying products and also gathering customer insights are expected to drive the growth of smart mirrors in the market. However high implementation cost, privacy concerns, Technical problems like sensor default, system failure can hinder the demand of smart mirror in the forecasted period.
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. Europe is the leading/significant region across the world in terms of market share owing to rising demand of Smart Mirrors due to presence of like Volkswagen, BMW, Daimler in the region. North America is contributing a satisfactory growth in the global Smart Mirror market during the forecast period due to widely use and acceptance of mirrors in automobiles, retail and consumer sectors. Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2019-2026 due to presence of large number of producers and consumers across the region.
Major market player included in this report are:
Magna International Inc.
ACEP France SA
S. L. and Mirrus Corporation
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)
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017
Base year – 2018
Forecast period – 2019 to 2026
Target Audience of the Global Smart Mirror Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers