Press release
Smart Mirror Market Expected to Success US$ 6.5 Million by 2031
On the basis of component, the market has been segmented into sensors, displays, camera and others. In terms of value share, displays have been estimated to be the dominant segment in 2021 global smart mirror market.
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The global smart mirror market has been segmented by application into automotive sector, consumer & residential, healthcare, and retail sector & advertising. Of these segments, automotive sector segment is estimated to be the largest segment in the global smart mirror market in terms of revenue contribution in 2021; however, consumer & residential segment is expected to expand at a impressive CAGR over 2021–2031, due to increasing adoption of new & innovative technologies in the smart mirror industry by various smart mirror manufacturers across the globe.
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Growth of the global smart mirror market is mainly driven by the high demand of smart mirror from key applications. Also, various key players in the smart mirror market are focused towards enhancing their respective product portfolios by introducing products with new and innovative features for use across a range of application areas is fueling the growth of the smart mirror market. However, high implementation cost of the smart mirror and either relatively low or total lack of awareness among people regarding smart mirror technology are restraining the growth of the market to some extent.
This report covers trends driving each segment and respective sub-segments and offers analysis and insights of the potential of the smart mirror market in specific regions. By region, North America has been estimated to dominate the smart mirror market and is expected to account for 25.5% value share of the overall market in 2021, exhibiting a healthy CAGR over the next ten years.
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Some of the major players identified in the global smart mirror market are Gentex Corporation, Magna International Inc., Pro Display, Evervue, Séura, Alke, ad notam AG, Tech2o, Samsung Electronics Co., Ltd., TOSHIBA CORPORATION, and Panasonic Corporation.
Key players in the market follow the strategy of acquisition and mergers and are focusing on meeting consumer demands and their needs in order to strengthen their position in the market. Furthermore, consistent investment in R&D activities in order to enhance existing products and services portfolio is another major strategy adopted by major players operating in the smart mirror market.
Market Segmentation:
Component
• Sensors
• Displays
• Camera
• Others (Mic, Speaker, and Communication devices)
Application
• Automotive Sector
• Consumer & Residential
• Healthcare
• Retail Sector & Advertising
Region
• North America
o U.S.
o Canada
• Latin America
o Brazil
o Mexico
o Rest of Latin America
• Europe
o Germany
o France
o U.K.
o Spain
o Italy
o Russia
o Rest of Europe
• Asia Pacific
o Japan
o China
o Rest of Asia Pacific
• The Middle East & Africa (MEA)
o GCC
o South Africa
o North Africa
o Rest of MEA
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