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Smart (Digital) Mirror Market Analysis By Growth, Emerging Trends And Future Opportunities Till 2027
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter's five force model.
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The global smart (digital) mirror market is segmented on the basis of the component, technology, end-user and region. On the basis of component, the market is bifurcated into sensors, displays, camera and Audio system. Of these segments, displays segment has been estimated to dominate the market in 2017, with 42% market share in terms of revenue contribution. On the basis of end-user, the global smart mirror market is segmented into automotive sector, consumer and residential, healthcare, and retail sector and advertising.
Automotive sector segment has been projected to dominate the market in 2017 across the globe. Smart Mirrors display valuable information of the product such as price, size and accessibility of the fabric. Various customers also share their views on social media about smart mirrors. The smart mirrors use the technology such as electro chromic technology, self-dimming technology, self -cleaning mirrors and self-repairing mirrors.
The Global smart mirror market is expected to grow from USD 2.85 billion by 2017 to USD 4.52 billion by 2027, at a CAGR of 9.8% from 2017 to 2027 on account of increasing demand from automotive industry and development from outdated stores to new transformed digital stores.
In the regional market, North America captured the largest market share in overall global smart digital mirror market and is anticipated to continue its supremacy over the estimated period. Moreover, invention of new and innovative technology has enabled users to adopt smart mirrors in daily usage. Many of the commercial estate such as shopping multiplex and hotels have already switched to smart mirrors to ease the customer experience.
The growth in smart digital mirror market can be accounted on the basis of increasing demand from health care and retail sector coupled with rising awareness among the people towards using more friendly technology.
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Innovation in technology will boost the Global Smart (Digital) Market
The advancement in technology, which includes the use of internet connectivity, cameras, touchscreen and Bluetooth, will help the market to grow. The use of technology in automotive sector to safeguard the life of driver and also to ensure easy driving experience, these are most essential factor that will help in boost growth in the market. Though there are some factors hampering the growth of the global smart digital mirror market like high initial cost and lack of awareness among the individuals.
This report also provides the existing competitive scenario of some of the key players of the global smart (digital) mirror market which includes company profiling of Gentex Corporation, Magna International Inc., ACEP France SAS, Panasonic Corporation, Seura Solutions, Samsung Electronics Co., Ltd. ,Keonn Technologies and other key players.
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global smart (digital) mirror market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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