Smart Mirrors – Industry Analysis and Trend Forecast by Technavio

Renewable energy

According to the latest market research study by Technavio, the global smart mirrors market is expected to grow at a CAGR of more than 12% during the forecast period 2017 to 2021.

This report by Technavio provides an in-depth analysis of the global smart mirrors market regarding revenue and developing market trends. The report also includes a current analysis and forecasts for numerous market sectors and all geographical regions.

Technavio research analysts categorize the market based on the end-user

The top three revenue-generating end-user segments are discussed below:

Global smart mirrors market by automotive sector: The extensive use of smart mirrors in the automotive sector makes it the largest end-user segment in the global market. These mirrors are designed with advanced electronic technologies that improve the safety features of vehicles. The smart mirrors are integrated with GPS navigation and other technologies that increase the performance of the automobiles. Some of the technologies integrated with these systems are Wi-Fi connectivity, Bluetooth connectivity, integrated sensor systems, and backup cameras.

The integration of smart mirrors with automotive electronics help drivers to drive with ease and improve road safety. The rising demand for smart mirrors in the automotive sector from developed countries will drive the market for these products during the forecast period. Moreover, market research analysts estimates that these mirrors will replace rear-view and side-view mirrors as they offer better safety and security features compared to conventional mirrors,” says Chetan Mohan, a lead analyst at Technavio for research on embedded systems.

Global smart mirrors market by retail sector: The rising number of major shopping outlets and malls across the globe will fuel the adoption of smart mirrors in the retail sector. The use of smart mirrors will help the retailers enhance the customer experience and helps them make smarter merchandising decisions. The mirrors integrated into fitting rooms use RFID technology to recognize items brought by a customer into the fitting room and display the product information on the mirror. Such advancement in technology will fuel the growth of the market in this segment.

Global smart mirrors market by the consumer and household sector: The extensive use of smart mirrors integrated with electronics in bathrooms and kitchens will augment the growth of the market in the consumer and household sector. These mirrors are equipped with cameras that can capture photos or videos and transfer them to smartphones using Wi-Fi or Bluetooth. The vendors in the market are also focusing introducing smart mirrors integrated with cameras and motion sensors to monitor apartments to attract more consumers.

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The top vendors operating in the global smart mirrors market are:

  • Evernue
  • Magna international

The other prominent vendors in the market include OAK LABS, MemoMi Labs, Gentex, Pro Display, SAMSUNG, Alke’, ad notam, Tech2o (Buyrite Group of Companies), actiMirror, SERAKU, Two Way Mirrors, Keonn Technologies, LG Electronics, Panasonic, and Toshiba.

A comprehensive analysis is presented in the Technavio study titled, ‘Global Smart Mirrors Market 2017-2021’. Technavio also customizes reports by additional regions and specific segments upon request.

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