Persistence Market Research Reports Smart Mirror Market | Page 2

The global smart mirror market 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 in terms of revenue contribution in 2015;
however, consumer & residential segment is expected to expand at the highest CAGR of 12.9% over 2016–
2022, due to increasing adoption of new & innovative technologies in the smart mirror industry by various
smart mirror manufacturers across the globe
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The growth of the global smart mirror market is mainly driven by the high demand of smart mirror from key
applications. Also, various key players in the smart mirror market 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. 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 in specific regions. By region, Europe has been estimated to dominate
the smart mirror market, accounting for over 40% value share of the overall market in 2015 and is expected to
exhibit healthy CAGR of over 11.1% during the projected period.
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Market Players
Some of the major players identified in the global smart mirror market are Gentex Corporation, Magna
International Inc., Pro Display, Evervue, Séura, Alke, ad notam AG, Tech2o, Samsung Electronics Co., Ltd.,
TOSHIBA CORPORATION, Panasonic Corporation. Key players in the market follow the strategy of
acquisition and mergers and are 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.