Global Smart Mirror Market, By Component (Hardware, Software, Services), Technology (Smart Material, Embedded Technologies), Type (Exterior Mirror, Interior Mirror), Functionality (Connected, Non-Connected), Augmented Reality Feature (AR-Smart Mirror, Non AR-Smart Mirror), Application (Automotive, Healthcare, Retail and Marketing, Consumer and Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
The smart mirror market is expected to witness market growth at a rate of 10.45% in the forecast period of 2021 to 2028, and is estimated to reach the value of USD 7,266.57 billion by 2028. Data Bridge Market Research report on smart mirror market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth. The increase in demand for the product for various industrial applications globally is escalating the growth of smart mirror market.
The smart mirror, also called virtual mirror, refers to the type of mirror that is embedded with electronic and smart technologies such as augmented reality, IoT, and high quality electronic displays, among others technology. These mirrors can be controlled with the use of smart phones, computers or tablets, and are used in automotive industry and in retail shop to give better comfort to the users.
The rise in demand for connect devices across the globe acts as one of the major factors driving the growth of smart mirror market. The increase in demand for smart mirrors in the retail industry owning to the technological advancements in artificial intelligence, gesture recognition technology, augmented reality, and connect devices, and presence of large number of start-ups accelerate the market growth. The rise in demand for advanced driver assistance system (ADAS) as it provides the driver a better and safer driving experience, which provides self-dimming, secure driving environment, automatic brightness adjustment and self-cleaning further influence the market. Additionally, shift toward digitalized manufacturing, technological innovations, presence of stringent passenger safety regulations, rapid urbanization and transition from traditional stores to digital stores in retail industry positively affect the smart mirror market. Furthermore, high demand for smart homes extend profitable opportunities to the market players in the forecast period of 2021 to 2028.
On the other hand, high cost associated with the mirrors and security of confidential and personal data are expected to obstruct the market growth. Lack of awareness is projected to challenge the smart mirror market in the forecast period of 2021-2028.
This smart mirror market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info smart mirror market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Smart Mirror Market Scope and Market Size
The smart mirror market is segmented on the basis of component, technology, type, functionality, augmented reality feature and application. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of component, the smart mirror market is segmented into hardware, software, and services.
- On the basis of technology, the smart mirror market is segmented into smart material, and embedded technologies.
- On the basis of type, the smart mirror market is segmented into exterior mirror and interior mirror.
- On the basis of functionality, the smart mirror market is segmented into connected, and non-connected.
- On the basis of augmented reality feature, the smart mirror market is segmented into AR-smart mirror, and non-AR-smart mirror.
- On the basis of application, the smart mirror market is segmented into automotive, healthcare, retail and marketing, consumer and others.
Smart Mirror Market Country Level Analysis
The smart mirror market is analyzed and market size, volume information is provided by country, component, technology, type, functionality, augmented reality feature and application as referenced above.
The countries covered in the global smart mirror market report are the U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
Europe dominates the smart mirror market due to the use of IoT in the automotive industry within the region. Asia-Pacific is expected to witness significant growth during the forecast period of 2021 to 2028 because of the increased acceptance of embedded electronics and smart devices in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Smart Mirror Market Share Analysis
The smart mirror market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to smart mirror market.
The major players covered in the smart mirror market report are ELECTRIC MIRROR, INC., Séura, Murakami Corporation, PERSEUS MIRRORS, actiMirror, GLANCE DISPLAYS, On The Wall, Inc, ad notam AG, DENSION LTD, Embrace, Gentex Corporation, and MAGNA INTERNATIONAL INC, Ficosa Internacional SA, S.L., Mirrocool, and Memomi, among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Customization Available : Global Smart Mirror Market
Data Bridge Market Research is a leader in consulting and advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include production cost analysis, trade route analysis, price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), import export and grey area results data, literature review, consumer analysis and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Factbook) or can assist you in creating presentations from the data sets available in the report.