Global Smart Mirror Market was valued at US$ 2.87 Bn in 2018 and is expected to reach US$ 6.54 Bn by 2026, at a CAGR of 10.84% during a forecast period.
Based on application, the automotive sector is expected to hold the largest share in the market during the forecast period owing to rising automation industry across the globe. On the basis of component, software segment is projected to lead the market growth during the forecast period due to software is an essential part of a smart mirror, which is used in hospital and smart home applications. The software has features such as display any information on a screen and 3D modeling are expected to propel the market growth during the forecast period.
Major driving factors of the market are rising vehicles production, construction activities are increasing in the residential sector, and growing technological advancements. Growing usage of IoT and rise in penetration of smart technologies are expected to surge the market growth during the forecast period. The increasing acceptance of smart home technology, integrating organic light emitting diode in smart mirrors and increased adoption of smart mirrors in hotels and public restrooms, which is surging the global smart mirrors market growth in a positive way. Various government bodies are implementing camera display mirrors in light motor vehicles in some nations are also expected to drive the market growth. However, lack of technological knowledge and a high cost of a product are act as restraints in the market. The report provides an in-detail list of drivers and restraints in the market, which are influencing the market growth. Additionally, provides expected opportunities and emerging trends.
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North America is projected to hold the largest share in the market during the forecast period owing to growing technological advancements, developed economy, and changing living standards of the consumers. Growing adoption of smart mirrors in hotels & restaurants, shopping mall, and the automotive sector is fuelling the market growth in this region. Asia Pacific is expected to generate the highest CAGR during the forecast period owing to increasing disposable income of consumers and increasing production of vehicles. The report includes a detailed study of Porterâ€™s Five Forces model to analyze the different factors affecting the growth of the market. Moreover, the study also covers a market attractiveness analysis, PESTLE analysis, Value Chain Analysis, and SWOT analysis.
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Key playerâ€™s studies, analyzed, profiled and benchmarked inSmart Mirror Market areGentex Corporation, Magna International Inc., Japan Display Inc., Samsung Electronics, and Murakami Kaimeido.
The Scope of the Report for Global Smart Mirror Market
Global Smart Mirror Market, by Component
Global Smart Mirror Market, by Application
Global Smart Mirror Market, by Region
Middle East & Africa
Key Players Operating in Global Smart Mirror Market
Magna International Inc.
Japan Display Inc.