What Makes the Smart Mirror Industry A Worthy Market for Investment?

The world today is highly fascinated about smart devices. With the growing digitalization and advancement in technologies, every device has been upgraded to a smarter version of its basic model. And now, not just the devices, but technology has shown its wonders in the ‘world of mirrors’ as well. According to a research, the mirror industry is expected to flourish due to the rising popularity and demand for smart mirrors from all across the globe.

What is a smart mirror?

A smart mirror is a technologically advanced mirror that is equipped with a display screen which is integrated behind its glass. This mirror is able to display everything from news feeds, weather predictions, upcoming appointments to current time on the surface of the mirror. Basically, this is a high-tech device which is similar to a smartphone. With this device, a user can view anything he/she wishes to know about, without the need to unlock one’s mobile phone. 

Growing demand for smart mirrors

Smart mirrors can be used in homes as well as in various other areas such as beauty salons, shopping malls, clothing stores, hospitals, and vehicles. The rising demand for smart mirrors from numerous sectors is creating more growth opportunities for the smart mirror market. Major automotive manufacturers such as BMW, Volkswagen, Hummer, Ferrari, and Aston Martin have implemented this technology in automobiles to offer 360-degree view, smart vision, and signals for notifying potential threats. The application of smart mirrors in automotive industry is expected to be one of the major driving factors for the growth of smart mirror market. 

New developments in the smart mirror industry

Recently, Capstone Companies, Inc., a designer, manufacturer, and marketer of consumer inspired products which is well-known for integrating technological innovations with today’s lifestyle has launched a magical Capstone Connected smart mirror. This product enables you to do all your grooming activities and simultaneously gain insights such as local news, weather forecasts, check the traffic conditions before leaving, and many more interesting things. 

Look wise, the device is exactly like a mirror, with an advanced design which makes it perfect for a bedroom, bathroom, entryway or even for commercial stores. Along with basic functionality of a normal mirror, the device also has features similar to a tablet, for instance, touchscreen and voice interfaces for internet access. The device is built using an Android operating system which can be used for downloading apps, browsing social media platforms, and all the activities that can be done using internet. In case of multiple users using the device, each user can change and customize the smart mirror according to their personal needs.

Apart from Capstone there are many other companies trying to contribute to the growth of smart mirror industry. Some of the top companies are Perseus motors, Dension Inc., Electric motors, Japan display Inc., Gentex corporation, Magna international Inc., Murakami corporation., Samsung Electronics, Ficosa (Panasonic), Seura, and many others. These companies are greatly involved in several activities such as merges and collaborations, partnerships, new product launches, and geographical expansions.

Smart mirror industry to have more growth opportunities in coming years

At present, smart mirrors are mostly in demand in the luxury markets owing to their high costs. As per a survey, these days people are showing increased interest in purchasing smart devices such as smart mirrors due to the advantages they offer. The growing popularity and demand for smart devices is giving a boost of motivation for companies active in this market to launch upgraded versions of smart mirrors. Also, a report by Research Dive states that the Europe is one of the highly potential market for smart mirrors . On the other hand, Asia- pacific is expected to be the largest emerging market in coming years, owing to growing GDP and increased number of hotels and restaurants in this region. Hence, considering all these factors it is clear that one can definitely invest in the smart mirror industry in the upcoming years.