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SE200244 |
Pages: 180 |
Jan 2020 |
The smart mirror market forecast $2,046.4 million in 2018 and is projected to grow $ 4,415.4 Million by 2026, growing at a CAGR of 9.5% in the forecast period.
A smart mirror is a technological advanced mirror within an inbuilt display screen behind the glass. It displays anything a user wants on the mirror surface like weather forecast, upcoming appointments, news feed, current time and many more. It acts like a mobile handset on the mirror with an image of the user so that the user can check all the necessary information in the mirror itself.
Joint ventures and product development among key market players, along with the growing usage of smart technology among people across the globe, are expected to drive the smart mirror market growth.
However, the high costs of smart mirror is likely to hamper the growth of the market.
According to the regional analysis of the market, the Europe smart mirror market share is anticipated to grow at a CAGR of 8.3%, generating a revenue of $1,558.0 million during the forecast period.
With the increase use of smart technologies among the population is considered driving factor for the growth of the smart mirror market. Smart mirror has the ability to display the most important information without even unlocking your smart phone. It shares all the valuable information with the one touch. Smart mirror is a product which is not only used in homes but it is also used in various other segment like Clothing shops, barber shop, beauty shops, in various malls, hospitals and many others which creates more opportunity and a wider scope for the smart mirror market. The growing automotive sector is considered to be the one of the major smart mirror market driver, It provides user the experience of riding with wide camera angle through the LCD screen connected on it which gives the 360-degree view of his car while riding and increase the safety to the driver with advanced driver assistance system (ADAS).
The biggest restrains for the smart mirror market is the cost of the smart mirror which is very high as compared to the normal mirrors. Due to the cost restrains only the premium class segment can only afford the smart mirror. The personal information that is been saved in the mirror can be considered as one of the restrains for the smart mirror market. For instance, If the smart mirror is being used in malls or any shops, then the personal data of the customer is being synced with the smart mirror and it involuntarily save the user data. The personal information that is being transmitted unintentionally can might eventually cause a high security breach.
Source: Research Dive Analysis
The smart mirror market size for software segment was $477.8 million in 2018 and is expected to grow at a CAGR of 10.7% during the anticipated period. Software are used to perform the activities which can be used in the smart mirror. Hardware segment registered a revenue of $1,301.5 million in 2018, and is further anticipated to grow at a CAGR of 8.7% in the forecast period. Hardware segment is further divided into audio system sensors, camera, and others. These hardware’s are used mainly to perform the primarily functions of mirror like image processing voice input as well as power consumptions.
Source: Research Dive Analysis
Automotive segment was $442.3 million in 2018 and is further anticipated to generate a revenue of $922.0 million by 2026. The purpose of smart mirror is to provide the driver a clear view of all the objects moving aside to the vehicle. For instance, in 4 wheelers, two types of rear view mirrors are used windshield rear view mirrors and side view mirrors, so that driver can have a complete view of road and the vehicles passing nearby. Smart mirrors are also mostly used in the hospitality segment which include hotels, resorts and restaurants so that the customer can have a better experience like voice command, 2 way messaging and many others. The hospitality segment was $349.5 million in 2018 and is expected to grow at a CAGR of 9.7% during the anticipated period.
Source: Research Dive Analysis
Europe was the highest revenue contributor, accounting for $789.6 million in 2018, and is estimated to reach $1,558.0 million by 2026. In Europe, major automotive manufacturers like Volkswagen, BMW, Ferrari, Hummer, and Aston Martin have adopted this technology for use in automobiles to offer smart vision, 360-degree view, and alerts from potential danger situations.
North America held the smart mirror market size in 2018 by $613.4 million and is expected to grow at a CAGR of 9.0% in the forecast period. North America has the highest purchasing power and have the most premium class user throughout the world, Rise in adoption of smart mirror technology in retail, smart homes, and consumer sectors significantly boosts the growth of the North America smart mirror market. Asia- pacific can be considered as a largest emerging market in the future, due to increasing GDP and increasing hotels and restaurants, Asia-Pacific is considered to be the future market for the smart mirror, which is expected to grow at $1,169.5 million by 2026 at a CAGR of 10.7%.
Smart mirror market players are Dension Inc., Electric motors, Ficosa(Panasonic), Gentex corporation, Japan display Inc., Magna international Inc., Murakami corporation., Perseus motors, Samsung Electronics, Seura among many others.
| Aspect | Particulars |
| Historical Market Estimations | 2018-2019 |
| Base Year for Market Estimation | 2018 |
| Forecast timeline for Market Projection | 2019-2026 |
| Geographical Scope | North America, Europe, Asia-Pacific, LAMEA |
| Segmentation by Component |
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| Segmentation by End use |
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| Key Countries covered | U.S., Canada, Germany, France, UK, Italy, Japan, China, India, South Korea, Australia, Middle west, Africa |
| Key Companies Profiled |
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Source: Research Dive Analysis
1. Research Methodology
1.1. Desk Research
1.2. Real time insights and validation
1.3. Forecast model
1.4. Assumptions and forecast parameters
1.4.1. Assumptions
1.4.2. Forecast parameters
1.5. Data sources
1.5.1. Primary
1.5.2. Secondary
2. Executive Summary
2.1. 360° summary
2.2. Component trends
2.3. End-use trends
3. Market overview
3.1. Market segmentation & definitions
3.2. Key takeaways
3.2.1. Top investment pockets
3.2.2. Top winning strategies
3.3. Porter’s five forces analysis
3.3.1. Bargaining power of consumers
3.3.2. Bargaining power of suppliers
3.3.3. Threat of new entrants
3.3.4. Threat of substitutes
3.3.5. Competitive rivalry in the market
3.4. Market dynamics
3.4.1. Drivers
3.4.2. Restraints
3.4.3. Opportunities
3.5. Technology landscape
3.6. Regulatory landscape
3.7. Patent landscape
3.8. Pricing overview
3.8.1. By component
3.8.2. By end-use
3.8.3. By region
3.9. Market value chain analysis
3.9.1. Stress point analysis
3.9.2. Raw material analysis
3.9.3. Manufacturing process
3.9.4. Distribution channel analysis
3.9.5. Operating vendors
3.9.5.1. Raw material suppliers
3.9.5.2. Product manufacturers
3.9.5.3. Product distributors
3.10. Strategic overview
4. Smart mirror market, by Component
4.1. Hardware
4.1.1. Market size and forecast, by region, 2017-2028
4.1.2. Comparative market share analysis, 2018 & 2028
4.2. Software
4.2.1. Market size and forecast, by region, 2017-2028
4.2.2. Comparative market share analysis, 2018 & 2028
4.3. Services
4.3.1. Market size and forecast, by region, 2017-2028
4.3.2. Comparative market share analysis, 2018 & 2028
5. Smart mirror market, by End-use
5.1. Automotive
5.1.1. Market size and forecast, by region, 2017-2028
5.1.2. Comparative market share analysis, 2018 & 2028
5.2. Hospitaltiy
5.2.1. Market size and forecast, by region, 2017-2028
5.2.2. Comparative market share analysis, 2018 & 2028
5.3. Retail
5.3.1. Market size and forecast, by region, 2017-2028
5.3.2. Comparative market share analysis, 2018 & 2028
5.4. Smart Homes
5.4.1. Market size and forecast, by region, 2017-2028
5.4.2. Comparative market share analysis, 2018 & 2028
5.5. Healthcare
5.5.1. Market size and forecast, by region, 2017-2028
5.5.2. Comparative market share analysis, 2018 & 2028
5.6. Others
5.6.1. Market size and forecast, by region, 2017-2028
5.6.2. Comparative market share analysis, 2018 & 2028
6. Smart mirror market, by Region
6.1. North Region
6.1.1. Market size and forecast, by type, 2017-2028
6.1.2. Market size and forecast, by application, 2017-2028
6.1.3. Market size and forecast, by end-use, 2017-2028
6.1.4. Market size and forecast, by country, 2017-2028
6.1.5. Comparative market share analysis, 2018 & 2028
6.1.6. U.S
6.1.6.1. Market size and forecast, by type, 2017-2028
6.1.6.2. Market size and forecast, by application, 2017-2028
6.1.6.3. Market size and forecast, by end-use, 2017-2028
6.1.6.4. Comparative market share analysis, 2018 & 2028
6.1.7. Canada
6.1.7.1. Market size and forecast, by type, 2017-2028
6.1.7.2. Market size and forecast, by application, 2017-2028
6.1.7.3. Market size and forecast, by end-use, 2017-2028
6.1.7.4. Comparative market share analysis, 2018 & 2028
6.1.8. Mexico
6.1.8.1. Market size and forecast, by type, 2017-2028
6.1.8.2. Market size and forecast, by application, 2017-2028
6.1.8.3. Market size and forecast, by end-use, 2017-2028
6.1.8.4. Comparative market share analysis, 2018 & 2028
6.2. Europe
6.2.1. Market size and forecast, by type, 2017-2028
6.2.2. Market size and forecast, by application, 2017-2028
6.2.3. Market size and forecast, by end-use, 2017-2028
6.2.4. Market size and forecast, by country, 2017-2028
6.2.5. Comparative market share analysis, 2018 & 2028
6.2.6. UK
6.2.6.1. Market size and forecast, by type, 2017-2028
6.2.6.2. Market size and forecast, by application, 2017-2028
6.2.6.3. Market size and forecast, by end-use, 2017-2028
6.2.6.4. Comparative market share analysis, 2018 & 2028
6.2.7. Germany
6.2.7.1. Market size and forecast, by type, 2017-2028
6.2.7.2. Market size and forecast, by application, 2017-2028
6.2.7.3. Market size and forecast, by end-use, 2017-2028
6.2.7.4. Comparative market share analysis, 2018 & 2028
6.2.8. France
6.2.8.1. Market size and forecast, by type, 2017-2028
6.2.8.2. Market size and forecast, by application, 2017-2028
6.2.8.3. Market size and forecast, by end-use, 2017-2028
6.2.8.4. Comparative market share analysis, 2018 & 2028
6.2.9. Italy
6.2.9.1. Market size and forecast, by type, 2017-2028
6.2.9.2. Market size and forecast, by application, 2017-2028
6.2.9.3. Market size and forecast, by end-use, 2017-2028
6.2.9.4. Comparative market share analysis, 2018 & 2028
6.2.10. Rest of Europe
6.2.10.1. Market size and forecast, by type, 2017-2028
6.2.10.2. Market size and forecast, by application, 2017-2028
6.2.10.3. Market size and forecast, by end-use, 2017-2028
6.2.10.4. Comparative market share analysis, 2018 & 2028
6.3. Asia-Pacific
6.3.1. Market size and forecast, by type, 2017-2028
6.3.2. Market size and forecast, by application, 2017-2028
6.3.3. Market size and forecast, by end-use, 2017-2028
6.3.4. Market size and forecast, by country, 2017-2028
6.3.5. Comparative market share analysis, 2018 & 2028
6.3.6. China
6.3.6.1. Market size and forecast, by type, 2017-2028
6.3.6.2. Market size and forecast, by application, 2017-2028
6.3.6.3. Market size and forecast, by end-use, 2017-2028
6.3.6.4. Comparative market share analysis, 2018 & 2028
6.3.7. India
6.3.7.1. Market size and forecast, by type, 2017-2028
6.3.7.2. Market size and forecast, by application, 2017-2028
6.3.7.3. Market size and forecast, by end-use, 2017-2028
6.3.7.4. Comparative market share analysis, 2018 & 2028
6.3.8. Japan
6.3.8.1. Market size and forecast, by type, 2017-2028
6.3.8.2. Market size and forecast, by application, 2017-2028
6.3.8.3. Market size and forecast, by end-use, 2017-2028
6.3.8.4. Comparative market share analysis, 2018 & 2028
6.3.9. South Korea
6.3.9.1. Market size and forecast, by type, 2017-2028
6.3.9.2. Market size and forecast, by application, 2017-2028
6.3.9.3. Market size and forecast, by end-use, 2017-2028
6.3.9.4. Comparative market share analysis, 2018 & 2028
6.3.10. Rest of Asia-Pacific
6.3.10.1. Market size and forecast, by type, 2017-2028
6.3.10.2. Market size and forecast, by application, 2017-2028
6.3.10.3. Market size and forecast, by end-use, 2017-2028
6.3.10.4. Comparative market share analysis, 2018 & 2028
6.4. LAMEA
6.4.1. Market size and forecast, by type, 2017-2028
6.4.2. Market size and forecast, by application, 2017-2028
6.4.3. Market size and forecast, by end-use, 2017-2028
6.4.4. Market size and forecast, by country, 2017-2028
6.4.5. Comparative market share analysis, 2018 & 2028
6.4.6. Latin America
6.4.6.1. Market size and forecast, by type, 2017-2028
6.4.6.2. Market size and forecast, by application, 2017-2028
6.4.6.3. Market size and forecast, by end-use, 2017-2028
6.4.6.4. Comparative market share analysis, 2018 & 2028
6.4.7. Middle East
6.4.7.1. Market size and forecast, by type, 2017-2028
6.4.7.2. Market size and forecast, by application, 2017-2028
6.4.7.3. Market size and forecast, by end-use, 2017-2028
6.4.7.4. Comparative market share analysis, 2018 & 2028
6.4.8. Africa
6.4.8.1. Market size and forecast, by type, 2017-2028
6.4.8.2. Market size and forecast, by application, 2017-2028
6.4.8.3. Market size and forecast, by end-use, 2017-2028
6.4.8.4. Comparative market share analysis, 2018 & 2028
7. Company profiles
7.1. Dension
7.1.1. Business overview
7.1.2. Financial performance
7.1.3. Product portfolio
7.1.4. Recent strategic moves & developments
7.1.5. SWOT analysis
7.2. Electric Mirror
7.2.1. Business overview
7.2.2. Financial performance
7.2.3. Product portfolio
7.2.4. Recent strategic moves & developments
7.2.5. SWOT analysis
7.3. Ficosa(Panasonic)
7.3.1. Business overview
7.3.2. Financial performance
7.3.3. Product portfolio
7.3.4. Recent strategic moves & developments
7.3.5. SWOT analysis
7.4. Gentex Corporation
7.4.1. Business overview
7.4.2. Financial performance
7.4.3. Product portfolio
7.4.4. Recent strategic moves & developments
7.4.5. SWOT analysis
7.5. Japan Display Inc.
7.5.1. Business overview
7.5.2. Financial performance
7.5.3. Product portfolio
7.5.4. Recent strategic moves & developments
7.5.5. SWOT analysis
7.6. Magna International Inc.
7.6.1. Business overview
7.6.2. Financial performance
7.6.3. Product portfolio
7.6.4. Recent strategic moves & developments
7.6.5. SWOT analysis
7.7. Murakami corporation
7.7.1. Business overview
7.7.2. Financial performance
7.7.3. Product portfolio
7.7.4. Recent strategic moves & developments
7.7.5. SWOT analysis
7.8. Perseus Mirror
7.8.1. Business overview
7.8.2. Financial performance
7.8.3. Product portfolio
7.8.4. Recent strategic moves & developments
7.8.5. SWOT analysis
7.9. Samsung Electronics Co. Ltd.
7.9.1. Business overview
7.9.2. Financial performance
7.9.3. Product portfolio
7.9.4. Recent strategic moves & developments
7.9.5. SWOT analysis
7.10. SEURA
7.10.1. Business overview
7.10.2. Financial performance
7.10.3. Product portfolio
7.10.4. Recent strategic moves & developments
7.10.5. SWOT analysis
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