Smart Mirror Market Analysis - Global Industry Size, Share, Trends and Forecast, 2014 - 2024

Category : Chemicals and Materials | Delivery Format : PDF | Status: Forthcoming | Report ID : ARC308

A mirror that is integrated with connectivity features and myriad electronic devices are specifically called the smart mirrors. These mirrors are majorly used in automotive, retail and healthcare industry. They are integrated with other simple devices in order to make them smart and connectable. The growth of smart mirrors market is highly credible to the upcoming smart applications that have given rise to the development of smart devices that are controlled through mobile applications. The smart mirrors come with touch screen technology and are user friendly and easily to operate.

In automotive industry, these smart mirrors are used in place of ordinary rear view mirrors. These enable the user to get full rear view for safer driving experience. In terms of retail and residential segments, the smart mirrors are utilized for analysing consumer’s requirements, specifically in regards to cosmetic and makeup. These intelligent mirrors are further anticipated to witness bright future in advertisement and retail industry. The pilots of these mirrors were initially installed in office lobbies, elevators, public restrooms and hotels, to better understand the adoptability of these mirrors in the market. Few years back, Mirrus Corporation and CCA (clear channel airports) had performed a pilot test, by installing 150 smart mirrors integrated with advertising displays in all the restrooms at Chicago O’Hare airport. This had resulted in noteworthy rise in the sales in retail sector, particularly in the dressing rooms. The blend of RFIDs with mirrors along with the display technologies are predicted to be very useful in terms of displaying critical information and user-centred advices, hence fuelling the sales growth.

In the healthcare sector, these mirrors are expected to improvise the compliance and patient care, further reducing the excessive cost in healthcare. These are capable of delivering patient specific information that includes real-time human body statistics (blood pressure, body temperature, and heart rate) and reminder for the prescription. Furthermore, the information provided by integrated camera can be used for diagnosing patients more efficiently, and would also enable doctors to provide their patients with appropriate treatments. Growing innovation in the field of technology has become one of key factors driving the smart mirrors market. The market for smart mirrors is highly influenced by technological development across the globe. Various vendors in the market are highly focused on providing innovative products to their customers. Nevertheless, the high initial cost of these mirrors poses significant challenge for the market players. Additionally, the market is also hampered due to lack of awareness and reluctance to change in people.

The market for smart mirrors is primarily segmented into technology, which is further bifurcated into electronic devices and smart material. The electronic devices segment is further segmented into displays, sensors, touch screen and cameras. All these electronic devices are mainly used in the automotive industry. Whereas, the smart material segment is further categorized into technology used and their characteristics; the segment includes self-dimming technology, electro-chromic technology, self-repairing technology and self-cleaning mirrors. The application segment is segmented into consumer & household, automotive, medical & healthcare and retail & advertisement. Presently, the automotive segment is leading the market and is further expected to retain its dominance during the forecast period due to the increasing concern towards safety and security in vehicles. These smart mirrors are available in all distinct modes that are capable of providing complete rear view and governance over reflections of light. Therefore, demand of these smart mirrors is anticipated to remain robust in the automotive sector. Some of the major key players in this market are Magna International Inc., Keonn Technologies, Gentex Corporation, Mirrus Corporation, Panasonic Corporation, Samsung Electronics, ACEP France SA, Seura Solutions, and Dension, S.L.

Market Segmentation

Market by Technology

·         Electro-chromic technology

·         Self-dimming technology

·         Self cleaning mirrors

·         Self repairing mirrors

Market by Application

·         Automotive

·         Consumer & household

·         Medical & healthcare

·         Advertising & retail

Market by Geography

·         North America

o   US

o   Canada

o   Mexico

·         Europe

o   UK

o   Germany

o   France

o   Rest of Europe

·         Asia-Pacific

o   China

o   Japan

o   India

o   Philippines

o   Rest of Asia-Pacific

·         Latin America

o    Brazil

o   Chile

o   Rest of Latin America

·         Middle East and Africa (MEA)

o   South Africa

o   Saudi Arabia

o   Rest of MEA

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