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ELECTRONICS & SMART DEVICES

Global Smart (digital) Mirror Market Analysis & Opportunity Outlook 2021

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Extensive insights into the Growth of Smart (digital) Mirror Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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Global Smart Mirror Market Overview button

Smart mirror is an innovative technology that enables the user to access smartphone like features on a basic mirror. These smart mirrors are embedded with several electronic components such as displays, sensors, etc. which enhance the user’s experience. 
Regionally, Europe held the top rank in the global smart mirror market in 2015. Hiked motor vehicle production (19% of global motor vehicle production) in 2014 and a continuous rise in coming years to propel the smart mirror market in Europe. As a result, Europe’s smart mirror market is anticipated to expand at a compound annual growth rate (CAGR) of 11.14 % over the forecast period.

However, North America is expected to experience the highest growth in the smart mirror market followed by the Asia-Pacific over the forecast period. North America smart mirror market is forecasted to expand at a CAGR of >15% during 2015-2021. During 2015-2016, the year-on-year (Y-O-Y) growth rate of the market declined by a very nominal margin of 0.1 percentage points. The year-on-year (Y-O-Y) growth rate is further projected to increase at an average rate of 17.0% from 2017-2021. From 2016 to 2018, the North America smart mirror market is anticipated to expand at an average y-o-y % growth of 15.9%. Better GDP figures, promising trade balance, flourishing economies and continuous expansion in personal disposable income in Asia-Pacific region, especially in India & China, is likely to escalate the smart mirror market in the region.               
On the basis of applications, the smart mirror market is segmented into automotive, retail and advertising, consumer and residential and healthcare. Among these, automotive sector at 80% share in 2021 is forecasted to have the largest share of smart mirrors during 2015-2021.
The smart mirror market is further divided on the basis of components as displays, sensors, cameras and others. Since, smart mirror is mainly driven by the sensors and related technology therefore the global smart mirror sensors market is projected to witness the highest compound annual growth rate (CAGR) during the covered forecast period.

Increasing light vehicle productions, growth in residential construction, etc. are some of the factors that are expected to drive the global smart mirror market in coming 5-6 years. However, factors such as high cost and lack of awareness about the smart mirrors are likely to pose a major threat for the global smart mirror market growth during the forecast period i.e. 2015-2021. CLICK TO DOWNLOAD FREE SAMPLE REPORT

Key Players

  • Ad Notam AG 
  • Alke, Evervue 
  • Gentex Corp. 
  • Magna International Inc. 
  • Panasonic 
  • Pro Display 
  • Seura, Tech2o 
  • Toshiba Corp

Scope and Context

Overview of the Parent Market

Analyst View

Segmentation

The global smart mirror market is segmented as follows:

  • By Component Market Size and Y-O-Y Growth Analysis
  • By Application  Market Size and Y-O-Y Growth Analysis

By Regions

  • North America (United States, Canada), Market size, Y-O-Y growth Market size, Y-O-Y growth & Opportunity Analysis, Future forecast & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis

Market Dynamics

Supply and Demand Risk

Competitive Landscape

Porter’s Five Force Model

Geographical Economic Activity

Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio

Recent Trends and Developments

Industry Growth Drivers and Challenges

Key Information for Players to establish themselves in current dynamic environment


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