Dublin, June 28, 2017 (GLOBE NEWSWIRE) -- Research and Markets has announced the addition of the "Smart Mirror Market - Global Drivers, Opportunities, Trends, and Forecasts to 2022" report to their offering.
The Smart Mirror market is expected to reach $1,220.3 million by 2022, growing at a CAGR of 14.4% during the forecast period 2016-2022.
Smart mirror is one of the growing priorities of modern days' shopping community. It is an alternative to the traditional mirror being used in malls, automobiles, and homes. The smart mirror offers an effortless experience allowing the user to get access to the information like they will eventually get from other devices such as smartphones, laptops, and TV. It is an interactive touch-free device that will address the need of accessing up-to-date information required by the user.
The combination of mirrors with RFID & display technology will be useful in displaying information and can be customized according to user-specific suggestions. As for now, consumers are interested in using technology in integrated mirrors, thereby creating opportunities for both manufacturers and fashion designers to come up with new innovative ideas to grab market share and standout in the competition.
The automobile industry was the first to start the smart mirror trend, helping in collecting information such as newsfeed, music, calendar with an additional option of Bluetooth connectivity. The market is driven by the automotive sector as the innovative mirrors will play a major role in providing comfortable drive and safety to the driver. The mirrors are available in different modes offering complete rear-view and control over the reflections. There is a vast scope for embedded mirrors in other sectors such as retail, healthcare, and residential. The leading adoption of technology is driving various start-ups to enter the market along with electronic devices manufacturers.
The market study of smart mirror will talk about smart materials and embedded technologies. In addition, the report talks about the regions and industry verticals. The smart material market is segmented into self-dimming, self-healing, and self-cleaning mirrors. Self-dimming mirrors hold the majority of the market share as automobiles are using rear-view mirrors. The embedded technologies include internet connectivity, RFID, Bluetooth, cameras, touchscreen, etc.
The automotive sector holds the majority of the mirror market share followed by retail. The consumer and healthcare sectors have tremendous opportunities during the forecast years, and the market will see a lot of players entering the ecosystem. The smart material market is expected to reach $709.4 million by 2022, growing at a CAGR of 16.3%.
Market Dynamics
Drivers
- Rapid demand from retail sector
- Growing investment in R&D to improve product portfolio
- Regulations for installing camera display mirrors
Restraints
- High cost
- Lack of awareness
Opportunities
- Smart mirror for healthcare
- Smart washroom
Key Topics Covered:
1 Industry Outlook
2 Report Outline
3 Market Snapshot
4 Market Outlook
5 Market Characteristics
5.4 DRO - Impact Analysis
6 Smart Mirror by Technologies: Market Size and Analysis
7 End-user Verticals: Market Size and Analysis
8 Regions: Market Size and Analysis
9 Competitive Landscape
10 Vendor Profiles
Companies Mentioned
- Ad Notam AG
- Alke
- Evervue
- Gentex Corp.
- Magna International Inc.
- Panasonic
- Pro Display
- Samsung Electronics Co. Ltd.
- Seura
- Tech2o
- Toshiba Corp.
For more information about this report visit https://www.researchandmarkets.com/research/mk58zz/smart_mirror