Latest Trends in the Smart Mirror Market


Posted September 4, 2020 by ctom7000

What are the upcoming trends for the Smart Mirror market?
 
The overall smart mirror market was valued at USD 1,955.6 million in 2017 and is expected to reach USD 4,420.8 million by 2023, at a CAGR of 9.41% between 2018 and 2023.

By application, the hospitality and retail smart mirror market segment is expected to grow at the highest growth rate during the forecast period

Among the application segment, the hospitality and retail smart mirror segment is expected to grow at the highest CAGR during the forecast period. Smart mirrors are often used in the retail sector wherein retailers try to catch the interest of potential clients and encourage them for frequent or regular visits. Additionally, they can display useful information, ranging from price and size availability to the fabric used. Smart mirrors allow shoppers to share their shopping experiences on social media. The increasing adoption rate of smart mirrors in North America and Europe for the hospitality and retail sectors is also driving the smart mirror market.

Download PDF Brochure:
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=71622395

By type, the interior mirror holds the largest share of the automotive smart mirror market

The interior mirror segment is expected to hold the largest market share. The automotive market for the interior smart mirror was valued at USD 1,249.7 million in 2017 and is expected to reach USD 2,432.1 million by 2023, at a CAGR of 6.05% during the forecast period. At present, the interior auto/self-dimming mirrors are more often used in cars and light commercial vehicles.

APAC to account for the highest market growth during the forecast period

APAC is expected to grow at the highest market growth in the smart mirror market during the forecast period, followed by the APAC region. The adoption of advanced technologies such as smart mirrors is projected to increase rapidly due to the increase in the production of luxury and premium cars in the Indian and Chinese automotive markets. Other factors contributing to the growth of the automotive smart mirror market include the falling prices of camera technology and increasing demand for advanced features in mirrors for vehicles. APAC is a cost-sensitive market as compared to other regions. Currently, auto/self-dimming mirrors are mostly used in passenger cars.

Key Market Players

Gentex (US), Magna (Canada), Electric Mirror (US), Seura (US), Murakami Kaimeido (Japan), Ficosa (Spain), ALKE (Belgium). Ad Notam (Germany), Dension (Hungary), and Keonn (Spain).

Request Free Sample Report:
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=71622395

Magna (Canada) has been ranked second in this market. The company offers interior mirrors having features such as auto-dimming, telematics, display, sensor integration, Bluetooth and hands-free connectivity, navigation, and microphone. Its exterior mirrors include features such as integrated cameras. The expansion of business in non-traditional markets is an important part of its growth strategy. The company expanded its plant in Slovakia in October 2017. Also, in September 2017, Magna opened an engineering center in China.
-- END ---
Share Facebook Twitter
Print Friendly and PDF DisclaimerReport Abuse
Contact Email [email protected]
Issued By Tom
Country United Kingdom
Categories Automotive , Technology
Tags smart mirror market , smart mirror market covid19 analysis , smart mirror market forecast , smart mirror market share , smart mirror market size , smart mirror market trends
Last Updated September 4, 2020