Smart Mirror Market Key Players Analysis 2031
A smart mirror is an advanced mirror integrated with technologies such as displays, sensors, cameras, and connectivity equipment. These mirrors are mainly used in numerous industry verticals such as retail, healthcare, automotive, residential, and others. The functions of smart mirrors can differ depending on their utility. For instance, in the automotive industry, smart mirrors can be utilized as rearview and side-view mirrors for enhanced safety purposes.
MARKET SCOPE
The "Global Smart Mirror Market Analysis to 2031" is a specialized and in-depth study with a special focus on the global market trend analysis. The report aims to provide an overview of the smart mirror market with detailed market segmentation by component, application, and geography. The report provides key statistics on the market status of the leading smart mirror market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on component, the global smart mirror market is segmented into hardware and software.
- On the basis of application, the market is segmented into automotive, healthcare, residential, retail and advertising, and others.
MARKET DYNAMICS
Drivers:
- The Smart mirror market is anticipated to grow in the forecast period owing to driving factors such as rising demand for smart mirror in automotive sector and transformation of retail industry from traditional stores to digital stores.
- Growing smart home market coupled with advancements in industry 4.0 is expected to stimulate smart mirror market to grow in the future.
Restraints:
- High cost may hinder the growth of the smart mirror market.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The smart mirror market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the smart mirror market in these regions.
IMPACT OF COVID-19 ON SMART MIRROR MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
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The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The smart mirror market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the smart mirror market in these regions.
IMPACT OF COVID-19 ON SMART MIRROR MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
MARKET PLAYERS
The report covers key developments in the smart mirror market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from smart mirror market are anticipated to lucrative growth opportunities in the future with the rising demand in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the smart mirror market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- DENSION LTD.
- ELECTRIC MIRROR, INC.
- Ficosa Internacional SA
- GENTEX CORPORATION
- Keonn Technologies, S.L.
- Magna International Inc.
- Murakami Corporation
- Perseus Mirrors
- Alke
- Séura
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Smart Mirror Market - By Component
1.3.2 Smart Mirror Market - By Application
1.3.3 Smart Mirror Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. SMART MIRROR MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PORTER'S FIVE FORCES ANALYSIS
4.2.1 Bargaining Power of Buyers
4.2.1 Bargaining Power of Suppliers
4.2.1 Threat of Substitute
4.2.1 Threat of New Entrants
4.2.1 Competitive Rivalry
4.3. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS
5. SMART MIRROR MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. SMART MIRROR MARKET - GLOBAL MARKET ANALYSIS
6.1. SMART MIRROR - GLOBAL MARKET OVERVIEW
6.2. SMART MIRROR - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. SMART MIRROR MARKET - REVENUE AND FORECASTS TO 2028 - COMPONENT
7.1. OVERVIEW
7.2. COMPONENT MARKET FORECASTS AND ANALYSIS
7.3. HARDWARE
7.3.1. Overview
7.3.2. Hardware Market Forecast and Analysis
7.4. SOFTWARE
7.4.1. Overview
7.4.2. Software Market Forecast and Analysis
8. SMART MIRROR MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. AUTOMOTIVE
8.3.1. Overview
8.3.2. Automotive Market Forecast and Analysis
8.4. HEALTHCARE
8.4.1. Overview
8.4.2. Healthcare Market Forecast and Analysis
8.5. RESIDENTIAL
8.5.1. Overview
8.5.2. Residential Market Forecast and Analysis
8.6. RETAIL AND ADVERTISING
8.6.1. Overview
8.6.2. Retail and Advertising Market Forecast and Analysis
8.7. OTHERS
8.7.1. Overview
8.7.2. Others Market Forecast and Analysis
9. SMART MIRROR MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Smart Mirror Market Overview
9.1.2 North America Smart Mirror Market Forecasts and Analysis
9.1.3 North America Smart Mirror Market Forecasts and Analysis - By Component
9.1.4 North America Smart Mirror Market Forecasts and Analysis - By Application
9.1.5 North America Smart Mirror Market Forecasts and Analysis - By Countries
9.1.5.1 United States Smart Mirror Market
9.1.5.1.1 United States Smart Mirror Market by Component
9.1.5.1.2 United States Smart Mirror Market by Application
9.1.5.2 Canada Smart Mirror Market
9.1.5.2.1 Canada Smart Mirror Market by Component
9.1.5.2.2 Canada Smart Mirror Market by Application
9.1.5.3 Mexico Smart Mirror Market
9.1.5.3.1 Mexico Smart Mirror Market by Component
9.1.5.3.2 Mexico Smart Mirror Market by Application
9.2. EUROPE
9.2.1 Europe Smart Mirror Market Overview
9.2.2 Europe Smart Mirror Market Forecasts and Analysis
9.2.3 Europe Smart Mirror Market Forecasts and Analysis - By Component
9.2.4 Europe Smart Mirror Market Forecasts and Analysis - By Application
9.2.5 Europe Smart Mirror Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Smart Mirror Market
9.2.5.1.1 Germany Smart Mirror Market by Component
9.2.5.1.2 Germany Smart Mirror Market by Application
9.2.5.2 France Smart Mirror Market
9.2.5.2.1 France Smart Mirror Market by Component
9.2.5.2.2 France Smart Mirror Market by Application
9.2.5.3 Italy Smart Mirror Market
9.2.5.3.1 Italy Smart Mirror Market by Component
9.2.5.3.2 Italy Smart Mirror Market by Application
9.2.5.4 Russia Smart Mirror Market
9.2.5.4.1 Russia Smart Mirror Market by Component
9.2.5.4.2 Russia Smart Mirror Market by Application
9.2.5.5 Rest of Europe Smart Mirror Market
9.2.5.5.1 Rest of Europe Smart Mirror Market by Component
9.2.5.5.2 Rest of Europe Smart Mirror Market by Application
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Smart Mirror Market Overview
9.3.2 Asia-Pacific Smart Mirror Market Forecasts and Analysis
9.3.3 Asia-Pacific Smart Mirror Market Forecasts and Analysis - By Component
9.3.4 Asia-Pacific Smart Mirror Market Forecasts and Analysis - By Application
9.3.5 Asia-Pacific Smart Mirror Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Smart Mirror Market
9.3.5.1.1 Australia Smart Mirror Market by Component
9.3.5.1.2 Australia Smart Mirror Market by Application
9.3.5.2 China Smart Mirror Market
9.3.5.2.1 China Smart Mirror Market by Component
9.3.5.2.2 China Smart Mirror Market by Application
9.3.5.3 India Smart Mirror Market
9.3.5.3.1 India Smart Mirror Market by Component
9.3.5.3.2 India Smart Mirror Market by Application
9.3.5.4 South Korea Smart Mirror Market
9.3.5.4.1 South Korea Smart Mirror Market by Component
9.3.5.4.2 South Korea Smart Mirror Market by Application
9.3.5.5 Rest of Asia-Pacific Smart Mirror Market
9.3.5.5.1 Rest of Asia-Pacific Smart Mirror Market by Component
9.3.5.5.2 Rest of Asia-Pacific Smart Mirror Market by Application
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Smart Mirror Market Overview
9.4.2 Middle East and Africa Smart Mirror Market Forecasts and Analysis
9.4.3 Middle East and Africa Smart Mirror Market Forecasts and Analysis - By Component
9.4.4 Middle East and Africa Smart Mirror Market Forecasts and Analysis - By Application
9.4.5 Middle East and Africa Smart Mirror Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Smart Mirror Market
9.4.5.1.1 South Africa Smart Mirror Market by Component
9.4.5.1.2 South Africa Smart Mirror Market by Application
9.4.5.2 Saudi Arabia Smart Mirror Market
9.4.5.2.1 Saudi Arabia Smart Mirror Market by Component
9.4.5.2.2 Saudi Arabia Smart Mirror Market by Application
9.4.5.3 U.A.E Smart Mirror Market
9.4.5.3.1 U.A.E Smart Mirror Market by Component
9.4.5.3.2 U.A.E Smart Mirror Market by Application
9.4.5.4 Rest of Middle East and Africa Smart Mirror Market
9.4.5.4.1 Rest of Middle East and Africa Smart Mirror Market by Component
9.4.5.4.2 Rest of Middle East and Africa Smart Mirror Market by Application
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Smart Mirror Market Overview
9.5.2 South and Central America Smart Mirror Market Forecasts and Analysis
9.5.3 South and Central America Smart Mirror Market Forecasts and Analysis - By Component
9.5.4 South and Central America Smart Mirror Market Forecasts and Analysis - By Application
9.5.5 South and Central America Smart Mirror Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Smart Mirror Market
9.5.5.1.1 Brazil Smart Mirror Market by Component
9.5.5.1.2 Brazil Smart Mirror Market by Application
9.5.5.2 Argentina Smart Mirror Market
9.5.5.2.1 Argentina Smart Mirror Market by Component
9.5.5.2.2 Argentina Smart Mirror Market by Application
9.5.5.3 Rest of South and Central America Smart Mirror Market
9.5.5.3.1 Rest of South and Central America Smart Mirror Market by Component
9.5.5.3.2 Rest of South and Central America Smart Mirror Market by Application
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. SMART MIRROR MARKET, KEY COMPANY PROFILES
11.1. DENSION LTD.
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. ELECTRIC MIRROR, INC.
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. FICOSA INTERNACIONAL SA
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. GENTEX CORPORATION
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. KEONN TECHNOLOGIES, S.L.
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. MAGNA INTERNATIONAL INC.
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. MURAKAMI CORPORATION
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. PERSEUS MIRRORS
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. ALKE
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. SéURA
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
1. DENSION LTD.
2. ELECTRIC MIRROR, INC.
3. Ficosa Internacional SA
4. GENTEX CORPORATION
5. Keonn Technologies, S.L.
6. Magna International Inc.
7. Murakami Corporation
8. Perseus Mirrors
9. Alke
10. Séura
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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