Increasing demand for smart mirror in the malls and the major shopping outlets and government
regulations authorizing installation of camera display mirrors in light motor vehicles in certain
countries around the world are the factors driving the growth of the market on the whole; coupled
with smart mirror getting increasingly popular among individuals with hectic work life, and changing
lifestyle, mostly in developed countries of the world. This, in turn, is boosting the growth of the
smart mirror market. On the other hand, factors such as the smart mirror’s high implementation
cost and low awareness among people with respect to smart mirror technology are expected to
restrain market growth. Smart Mirror Market is classified, by component into Sensors, Displays,
Camera, and others (Mic, Speaker, and Communication Devices). Smart Mirror Market is classified,
by application into Automotive Sector, Consumer and Residential, Healthcare, Retail Sector &
Advertising.
The consumer and Residential segment is expected to grow at the highest CAGR over the forecast
period, due to increasing adoption of new and innovative technologies in the smart mirror industry
by various smart mirror manufacturers across the globe. Automotive sector, the smart mirror is
gaining popularity across developed regions and is gaining traction in developing regions as well. In
automobile applications, smart mirrors are replacing rear-view mirrors and offer improved safety
and security features as compared to conventional mirrors.
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Smart Mirror Market is segmented, geographically into North America, Europe (Eastern Europe,
Western Europe), Asia Pacific, Latin America, Middle East and Africa. Europe held the maximum
market share in 2015 and is expected to continue to do so in future. This is mainly accredited to the
introduction of favorable regulations by the government in several countries in this region. North
American smart mirror market is expected to rise at the highest CAGR in the years to come. Smart
Mirror Market key players include TOSHIBA CORPORATION, Magna International Inc., Gentex
Corporation, Alke, ad notam AG, Pro Display, Evervue, Séura, Tech2o, Samsung Electronics Co., Ltd.,
and Panasonic Corporation.