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Global Industry Analysis on Smart Mirror Market, 2015 to 2021
Focus on road safety concern helps to increase the demand for integrated electronic functionality smart mirror in automotive sector. Electrochromic self-dimming smart mirrors helps in the road safety by increasing response times and minimizing driver fatigue. Many other features such as integrated sensor, displays, touch capability, GPS and Wi-Fi connectivity improves the driving experiences. According to a research report, around one-fifth of all new automobiles sold in 2013 have rear-view smart mirrors equipped with light sensor-triggered and self-dimming capability. Various other factor such as style, innovative design, comfort, safety and convenience leads to boost the growth of smart mirror market. The total market size for smart mirror in automotive sector is expected to reach around USD 2.4 billion by 2020.
Due to its ability to place customized and dynamic image content through the use of electronic displays, the demand of smart mirror is also gaining popularity in nonautomotive applications. Application of smart mirrors is also growing in consumer sector. Smart mirror become one of the fascinated product for use in bedrooms and bathrooms and makes the room more decorative. These smart mirrors together with embedded with electronics and displays provides email, news, calendars, reminders, sports scores, traffic status and daily weather information. The market potential for the growth of smart mirrors is high in retail and advertising sector during furcated period. Use of smart mirrors in dressing rooms helps to increase in the sales of garment by use of RFID and display technologies which suggest customer specific designed and information.
The application of smart mirrors is also growing in healthcare segment. With the help of smart mirror patient can get the specific information and real-time vital statistics of body temperature, heart rate and blood pressure and can get required prescription reminders. Smart mirror also helps in reducing long term healthcare expenses of patient.
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Many global brands such as Gentex Corporation, Magna and Mirrus offers most innovative smart mirror in the market with emphasis on latest technology and better quality. This further leads to increase the global smart mirror market. Growing investment over research and development on smart mirror and introduction of new technology further helps in the growth of global smart mirror market. Asia pacific is one of the prominent markets for the growth of smart mirror market. Due to rapidly growth in building construction and architectural work in Asia Pacific region, the smart mirror market also rise. In North America, the U.S holds the largest market share of smart mirror. The global smart mirror market is expected to grow in a single digit growth rate during forecasted period 2014- 2020.
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Some of the major companies operating in global smart mirror market are Gentex Corporation, Magna, AGC, Panasonic, Seura, Samsung, Cybertecture and Mirrus.
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