The global smart (digital) mirror market is segmented into application such as automotive, retail and advertising, consumer and residential and healthcare. Among these segments, automotive segment grabbed the largest market of smart (digital) mirror and is projected to continue its dominance over the forecast period. Additionally, robust expansion of automotive sector all over the globe coupled with continuous integration of numerous features into vehicles such as smart mirror, infotainment system and others are believed to flourish the growth of smart (digital) mirror market.
Global smart (digital) mirror market is expected to register a noteworthy CAGR over the forecast period i.e. 2015-2021. Moreover, the global smart (digital) mirror market is projected to expand at exponential revenue globally by the end of 2024. The market of smart (digital) mirror is expanding on the back of wide scale application in numerous sectors such as automotive, advertising, healthcare and others.
The display segment by component is projected to capture the largest market in overall smart (digital) mirror market. Further, sensor segment is believed to witness a considerable CAGR by 2021. In terms of regional platform, Europe and North America are the most prominent regional market of smart (digital) mirror market. Europe region seized the biggest market of smart (digital) mirror market owing to growing adoption of smart (digital) mirror by automotive industry.
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Technological advancement in mirror
Continuous research and development activities in the field of smart (digital) mirror by major key players to provide innovative products is believed to foster the growth of smart (digital) mirror market. Furthermore, growing adoption of advanced and innovative technologies by various smart mirror manufacturers across the globe is predicted to supplement the growth of smart (digital) mirror market.
Robust expansion of automotive industry
Rapid urbanization coupled with positive GDP figures of developed and developing nation has fuelled the growth of various industries such as automotive industries and others which is likely to elevate the growth of smart (digital) mirror market. Additionally, increasing adoption of smart (digital) mirror by clothing store for their fitting rooms is also bolstering the market of smart (digital) mirror.
On the contrary, high cost associated with the implementation of the smart mirror and lack of awareness regarding advance technology in underdeveloped and developing regions are the factors hampering the market of smart (digital) mirror across the globe.
The report titled “Global Smart (digital) Mirror Market Analysis & Opportunity Outlook 2021” delivers detailed overview of the global smart (digital) mirror market in terms of market segmentation by component, by application and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the global smart (digital) mirror market which includes company profiling of Ad Notam AG, Alke, Evervue, Gentex Corp., Magna International Inc., Panasonic, Pro Display, Seura, Tech2o and Toshiba Corp. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global smart (digital) mirror market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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