Overview:

Smart mirrors are advanced mirrors having connected system and embedded electronics including sensors, digital displays, cameras, and touch screens. The systems are now compatible with smart home devices and have augmented reality functions with auto light adjusting capabilities and suggestions.

Market Dynamics:

Growing deployment of smart homes is a key factor that is expected to boost demand for smart mirrors especially is developed countries. Presence of smart home devices, connected systems, and high internet network are other factors further supporting the adoption of the smart mirrors along with smart homes. Additionally, rising adoption of smart mirror technology by retail sector for advertising and enhancing customer experience is another factor driving growth of the market. This factor is expected to further propel growth of the market to a significant extent during the forecast period. However, high cost of smart mirrors is hampering growth of the market is residential sector especially in developing countries.

Key Trends:

Rising adoption smart mirrors in automotive for various functionalities is a key trend observed in the market. For instance, Gentex Corporation developed full display mirror in 2017 for commercial use.

Regional Analysis:

For detailed understanding of market dynamics, the global marketis analyzed across key regions viz. North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The North American accounts for the major revenue share in 2018, owing to rising adoption of connected systems from retail as well as automotive sector. Additionally, high disposable income among individuals is another factor fueling growth of the North America smart mirror market. The market in Middle East and Africa is expected to witness considerable growth during the forecast period. This growth can be attributed to the countries in the region which are retail hubs and have high tourist visitors rate year on year. Thus, rising focus on enhancing customer experience is a key factor driving the growth of the market in Middle East and Africa. The market in Asia Pacific is expected to witness highest growth during the forecast period. 

Scope of the Report:

Detailed Segmentation:

Global Smart Mirror Market, By Component:

• Hardware
• Software
• Services

Global Smart Mirror Market, By Technology:

• Smart Material
• Embedded Technologies

Global Smart Mirror Market, ByApplication:

• Automotive
• Healthcare
• Retail and Marketing
• Consumer
• Others

Key Players Covered:

Key players operating in the market includes, Electric Mirror, Inc., Séura, Murakami Corporation, Ficosa Internacional SA, S.L., Mirrocool, Memomi, Perseus Mirrors, Actimirror, Glance Displays, On the Wall, Inc, Ad Notam AG, DENSION LTD, Embrace, Gentex Corporation, and Magna International Inc

Key features of the study:

Foresight Market Research provides detailed analysis on Smart Mirror Market in our report- Global Smart Mirror Market by component, technology, application, and region. The report provides market size (US$ Mn) and compounded annual growth rate (%) for the forecast period: 2019 – 2029, considering 2018 as the actual year. The report also contains in-depth analysis about market drivers, restraints, opportunities, new product launches, product approval, ongoing trends, and regional outlook. The report delivers competitive analysis about leading players in the global Smart Mirror Market based on various parameters such as company overview, product portfolio, regional presence, financial performance, distribution strategies, key developments, marketing strategies, and future plans. The analysis from the report would acquaint the marketers and management authorities of companies to make the appropriate decision with respect to their future product launch, ongoing trends, market expansion, and marketing tactics used overall the globe.