Global Smart Mirror Market Expected to Reach $4,118.7 Million by 2025

WILMINGTON, DE, UNITED STATES, December 13, 2024 /EINPresswire.com/ -- Allied Market Research, titled, "Smart Mirror Market by Component and End User: Global Opportunity Analysis and Industry Forecast, 2018 - 2025," the global Smart Mirror Market size was valued at $1,750.0 million in 2017, and is projected to reach $4,118.7 million by 2025, growing at a CAGR of 11.5% from 2018 to 2025.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 & 𝐓𝐎𝐂: https://www.alliedmarketresearch.com/request-sample/195

At present, Europe dominates the market, followed by North America. In 2017, the U.S. dominated the North America market, and Germany led the overall market in Europe. However, in Asia-Pacific, China currently dominates the market.

A smart mirror is an advanced mirror incorporated with technologies such as sensors, cameras, displays, and connectivity equipment. These mirrors are majorly used in various industry verticals such as automotive, retail, residential, healthcare, and others. The functions of smart mirrors can differ depending on their utility. For instance, in the residential sector, it can be used for recognizing people, talking to them, and learning an individual's habits as a part of a smart home. In addition, in the automotive sector, smart mirrors can be used as side-view and rearview mirrors for enhanced safety purposes. Moreover, in the field of retail, smart mirrors are incorporated for suggesting customers with trending outfits.

The increase in the adoption of smart mirrors in the automotive sector, the rise in demand for connected devices, and the transition to digital stores in the retail industry act as the key drivers of the global smart mirror market. However, high initial costs and security concerns of private information hamper the growth of the market. Conversely, the increase in adoption of smart homes coupled with advances in industry 4.0 is expected to create lucrative growth opportunities for the Smart Mirror market shortly.

𝐆𝐞𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐰𝐢𝐭𝐡 𝐲𝐨𝐮’𝐫𝐞 𝐑𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭𝐬: https://www.alliedmarketresearch.com/request-for-customization/195

The automotive sub-segment secured the highest share of about 89.9% in the end-user segment in 2017 and is expected to grow at a CAGR of 10.4% during the forecast period, 2018-2025. In terms of components, the hardware segment is expected to account for the highest market share in the coming years, however, the services segment is expected to grow at the highest CAGR of 13.0% during the forecast period.

Europe secured the highest market share in 2017, owing to the wide presence of key automotive manufacturing companies. In addition, most of the car manufacturers are located in Germany. Furthermore, countries such as China and India are growing rapidly in the automotive sector, which is in turn increasing the demand for smart mirrors in the Asia-Pacific region.

𝐊𝐞𝐲 𝐅𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐒𝐦𝐚𝐫𝐭 𝐌𝐢𝐫𝐫𝐨𝐫 𝐌𝐚𝐫𝐤𝐞𝐭:

- Based on end users, the automotive segment led the global smart mirror market in 2017. However, the residential segment is anticipated to grow at the highest CAGR during the forecast period.
- Europe held the majority share in 2017 in the global smart mirror market size.
- By component, the hardware segment dominated the global smart mirror market in 2017.
- LAMEA is anticipated to exhibit the highest CAGR during the forecast period.

The key players operating in the smart mirror market are Japan Display Inc., Gentex Corporation, Magna International Inc., Samsung Electronics, Murakami Kaimeido, Seura, Perseus Mirrors, Ficosa, Dension, and Electric Mirror.

𝐈𝐧𝐪𝐮𝐢𝐫𝐲 𝐛𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/195

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬:

Allied Market Research is a top provider of market intelligence that offers reports from leading technology publishers. Our in-depth market assessments in our research reports consider significant technological advancements in the sector. In addition to other areas of expertise, AMR focuses on analyzing high-tech and advanced production systems. We have a team of experts who compile thorough research reports and actively advise leading businesses to enhance their current procedures. Our experts have a wealth of knowledge on the topics they cover. Also, they use a variety of tools and techniques when gathering and analyzing data, including patented data sources.

David Correa
Allied Market Research
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