A smart mirror is an innovative technology that enables the user to access smartphone like features on a basic mirror. These smart mirrors are embedded with several electronic components such as displays, sensors, etc. which enhance the users experience.
The global smart mirror market is anticipated to expand at an astonishing compound annual growth rate (CAGR) of 12.83%.
Regionally, with USD 165 Million, Europe held the top rank in the global smart mirror market in 2015. Hiked motor vehicle production (19% of global motor vehicle production) in 2014 and a continuous rise in coming years to propel the smart mirror market in Europe. As a result, Europe smart mirror market is anticipated to expand at a modest compound annual growth rate (CAGR) over the forecast period.
However, North America is expected to experience the highest growth in the smart mirror market followed by the Asia-Pacific over the forecast period. Better GDP figures, promising trade balance, flourishing economies and continuous expansion in personal disposable income in Asia-Pacific region, especially in India & China, is likely to escalate the smart mirror market in the region.
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On the basis of applications, the smart mirror market is segmented into automotive, retail and advertising, consumer and residential and healthcare. Among these, automotive sector at 80% share in 2021 is forecasted to have the largest share of smart mirrors during 2015-2021.
The smart mirror market is further divided on the basis of components as displays, sensors, cameras and others. Since, smart mirror is mainly driven by the sensors and related technology therefore the global smart mirror sensors market is projected to witness the highest compound annual growth rate (CAGR) of 15.63% during the covered forecast period.
Increasing light vehicle productions, growth in residential construction, etc. are some of the factors that are expected to drive the global smart mirror market in coming 5-6 years.
However, factors such as high cost and lack of awareness about the smart mirrors are likely to pose a major threat for the global smart mirror market growth during the forecast period i.e. 2015-2021.
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Table Of Contents
Table of Contents:
1. List of Figures
2. List of Tables
3. Executive Summary
4. Research Methodology
5. Global Smart Mirror Market Size and Year-on-Year (Y-O-Y) Growth Rate, 2015-2021
6. Global Smart Mirror Market Trend Analysis
7. Market Dynamics
7.1 Growth Drivers
7.1.1 Growth in the Automobile Sector
126.96.36.199 Impact Analysis
7.1.2 Increase in Residential Building Construction
188.8.131.52 Impact Analysis
7.1.3 Rising Demand from Retail Sector
184.108.40.206 Impact Analysis
7.1.4 Increasing Innovation in Smart Mirror Technology
220.127.116.11 Impact Analysis
7.2.1 High Cost of Smart Mirrors
18.104.22.168 Impact Analysis
7.2.2 Lack of awareness
22.214.171.124 Impact Analysis
7.2.3 Safety Issues on Use of Smart Mirrors in Dressing Rooms
126.96.36.199 Impact Analysis
8. North America Smart Mirror Market Outlook
8.1 North America Smart Mirror Market Size and Year-on-Year (Y-O-Y) Growth Rate, 2015-2021
8.1.1 U.S. Smart Mirror Market Size and Year-on-Year (Y-O-Y) Growth Rate, 2015-2021
8.1.2 Canada Smart Mirror Market Size and Year-on-Year (Y-O-Y) Growth Rate, 2015-2021
8.2 North America Year-on-Year (Y-O-Y) Growth Rate Comparisons- By Country
8.3 North America Market Attractiveness- By Country
8.4 North America Smart Mirror Market BPS Analysis
9. Latin America Smart Mirror Market Outlook
9.1 Latin America Smart Mirror Market Size and Year-on-Year (Y-O-Y) Growth, 2015-2021
10. Europe Smart Mirror Market Outlook
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