Press release
Smart Mirror Market is expected to touch a US$ 6.5 Bn by the end of 2031
The global smart mirror market is estimated to attain a valuation of US$ 2.5 Bn by the end of 2021. Smart Mirror Market Size is expected to reach US$ 6.5 Bn by the end of 2031.
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On the basis of component, the market has been segmented into sensors, displays, camera and others. In terms of value share, displays have been estimated to be the dominant segment in 2021 global Smart Mirror Market Size.
The global Smart Mirror Market Size has been segmented by application into automotive sector, consumer & residential, healthcare, and retail sector & advertising. Of these segments, automotive sector segment is estimated to be the largest segment in the global Smart Mirror Market Size in terms of revenue contribution in 2021; however, consumer & residential segment is expected to expand at a impressive CAGR over 2021-2031, due to increasing adoption of new & innovative technologies in the smart mirror industry by various smart mirror manufacturers across the globe.
Growth of the global Smart Mirror Market Size is mainly driven by the high demand of smart mirror from key applications. Also, various key players in the Smart Mirror Market Size are focused towards enhancing their respective product portfolios by introducing products with new and innovative features for use across a range of application areas is fueling the growth of the Smart Mirror Market Size. However, high implementation cost of the smart mirror and either relatively low or total lack of awareness among people regarding smart mirror technology are restraining the growth of the market to some extent.
This report covers trends driving each segment and respective sub-segments and offers analysis and insights of the potential of the Smart Mirror Market Size in specific regions. By region, North America has been estimated to dominate the Smart Mirror Market Size and is expected to account for 25.5% value share of the overall market in 2021, exhibiting a healthy CAGR over the next ten years.
Some of the major players identified in the global Smart Mirror Market Size are Gentex Corporation, Magna International Inc., Pro Display, Evervue, Séura, Alke, ad notam AG, Tech2o, Samsung Electronics Co., Ltd., TOSHIBA CORPORATION, and Panasonic Corporation.
Key players in the market follow the strategy of acquisition and mergers and are focusing on meeting consumer demands and their needs in order to strengthen their position in the market. Furthermore, consistent investment in R&D activities in order to enhance existing products and services portfolio is another major strategy adopted by major players operating in the Smart Mirror Market Size.
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Market Segmentation:
Component
Sensors
Displays
Camera
Others (Mic, Speaker, and Communication devices)
Application
Automotive Sector
Consumer & Residential
Healthcare
Retail Sector & Advertising
Region
North America
U.S.
Canada
Latin America
Brazil
Mexico
Rest of Latin America
Europe
Germany
France
U.K.
Spain
Italy
Russia
Rest of Europe
Asia Pacific
Japan
China
Rest of Asia Pacific
The Middle East & Africa (MEA)
GCC
South Africa
North Africa
Rest of MEA
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