Smart Mirror Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET OVERVIEW

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.

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.

Smart Mirror Report Scope