Smart Mirror Market

In 2017, in terms of revenue, the hardware segment dominated the global smart mirrors market in the component category. By end user, the automotive segment is anticipated to lead the market throughout the forecast period. The key players are adopting new techniques to provide customers with advanced and innovative product offerings.

The global smart mirrors market 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.

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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.

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

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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.

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