On the basis of regional analysis, the market is segmented into North America, Europe, Asia-Pacific and Rest of the World. North America region is generating highest market share in the Smart Mirrors Market owing to better network infrastructure, higher technology implementation and implementation of smart mirrors in healthcare sector. Adoption of smart mirrors in North America is mainly due to the invention of advanced technology and economies benefitting from it. North America region is leading due to presence of major players from the region in the smart mirrors market. The increased adoption of smart mirrors in healthcare, retail and automotive sector is driving the market in the region. The rise in demand for self-cleaning in dental treatment is driving the smart mirrors market in the region.
Smart Mirrors Market Segmentation
The smart mirrors market has been segmented on the basis of component, technology and end-user. End-user segment consists of retail, healthcare, consumer and household and automotive. In North America region, retail sector is witnessing considerable market share owing to adoption of smart mirrors in upscale stores and shopping malls. Smart mirrors in some of the mirrors are able to capture video of customer in trail room, so that it can compare image side by side with other colorful dress in one try.
According to Market Research Future Analysis, smart mirrors market has been valued at approximately USD 1057 Million by the end of forecast period with approx. 12% of CAGR during forecast period 2017 to 2023.
Smart Mirrors Market Players:
- Gentex Corporation (U.S.)
- Magna International Inc. (Canada)
- ACEP France SAS (France)
- Panasonic Corporation (Japan)
- Seura Solutions (U.S.)
- Samsung Electronics Co., Ltd. (South Korea)
- Keonn Technologies (Spain)
- Mirrus Corporation Inc (U.S.)
- Perseus Mirrors (U.S.)
- Electric Mirror, LLC (U.S.)
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Market Research Analysis:
The smart mirrors market in North America region is growing due to high adoption of smart mirrors in retail and healthcare sector. The invention of smart mirrors is gaining popularity among youth due to busy work schedule and changing lifestyle which is driving the market in the region. According to the study, Europe region is one of the prominent player in smart mirrors market due to hike in motor vehicle production. Asia-Pacific market is estimated to be one of the fastest growing market as government is continuously investing into research and development of smart mirrors market. Increasing IT landscape is boosting the market in the region. Developing countries such as India and China are adopting smart mirrors at a large scale owing to increasing IT infrastructure, robust industrialization that is boosting the market in the region. By end-user segment, retail, automotive and healthcare sector is driving the smart mirrors market.
By end-user segment, smart mirrors market is segmented into retail, healthcare, automotive, consumer and household among others. Retail and healthcare sector is expected to be highest growing segment in smart mirrors market. Smart mirrors has wide application in healthcare, they can be used to detect the cardiovascular disease including stroke and heart disease which are the main reason behind most human deaths occurring in the world. The study indicates, in future the image provided by the camera will be able to detect change in facial features and markers of stress, anxiety and disease. Images displayed by the smart mirrors can be used to access person heart beat rate and blood oxygenation.
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