Press release
Global Smart Mirror Market to Top US$ 6.5 Bn Valuation by 2031
Persistence Market Research delivers key insights on the global smart mirror market in its latest report. In terms of volume, the global smart mirror market is anticipated to expand at a CAGR of close to 10% over 2021-2031 period, and top a market value of US$ 6.5 Bn, driven by various growth factors, regarding which Persistence Market Research offers vital insights in detail in this report.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.
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.
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.
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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.
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.
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Market Segmentation:
Component
Sensors
Displays
Camera
Others (Mic, Speaker, and Communication devices)
Application
Automotive Sector
Consumer & Residential
Healthcare
Retail Sector & Advertising
Region
North America
U.S.
Canada
Latin America
Brazil
Mexico
Rest of Latin America
Europe
Germany
France
U.K.
Spain
Italy
Russia
Rest of Europe
Asia Pacific
Japan
China
Rest of Asia Pacific
The Middle East & Africa (MEA)
GCC
South Africa
North Africa
Rest of MEA
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