Smart Mirror Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024
Albany, NY -- (SBWIRE) -- 07/07/2016 -- The increasing demand from malls and major shopping outlets has been boosting the global smart mirrors market. The market is also gaining impetus from favorable government policies across many countries, mandating the installation of 'camera display mirrors' in light vehicles.
A new analysis by Transparency Market Research (TMR), titled "Smart Mirror Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2024," provides a comprehensive overview of the global smart mirror market. It presents insights into the growth drivers and restraints that will have an impact on the growth exhibited by the market between 2016 and 2024.
Made with layers of different materials, these smart mirrors are considered highly functional. They come with self-repairing, self-cleaning, and self-dimming capabilities. Smart mirror technologies also comprise embedded electronics such as displays, cameras, and sensors, which convert a simple mirror into an electronic devices.
The rising application of smart mirrors in automotive, healthcare, consumer, and advertising industries has been positively influencing the market's growth worldwide. The application of smart mirrors in the automotive industry is gaining ground due to the rising focus on enhanced road safety. Incorporating electronic self-dimming smart mirrors has been positively contributing to improve road safety, thus boosting their demand from the automotive sectors. Additionally, electronic functionalities such as Wi-Fi connectivity, GPS, touch capability, display, and sensor systems integrated in smart mirrors considerably enhance road safety. This is expected to have a significant impact on the growth prospects for the smart mirror market in the automotive sector.
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Retail and advertising sectors are also expected to show lucrative prospects for smart mirrors. The growing investment in research and development activities and penetration of novel technologies will also influence the global smart mirror market positively.
In order to gain a competitive edge in the market, the majority of companies operating in the market are capitalizing on novel technologies to offer additional features in their products. For instance, Polo Ralph Lauren Corporation has deployed smart mirrors across all fitting rooms across its flagship New York stores in November 2015. These mirrors allow customers to tap on display for assistance related to the items to try on.
The report presents an in-depth analysis of various factors influencing the market's growth across various application and regional segments. Interspersed with relevant data, the report is intended to update stakeholders about the prevailing market dynamics. To study the competitive landscape in the market, companies such as Magna International Inc., Gentex Corporation, Seura Solutions, ACEP France SA, Panasonic Corporation, Dension, Keonn Technologies, Samsung Electronics, S.L., and Mirrus Corporation are profiled in the report.
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TMR's data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.