Portland, OR -- (SBWIRE) -- 09/21/2017 -- Smart Mirror is the emerging concept in this fast changing IT world. Smart Mirror is an alternative to a rear mirror used in the automotives. It provides integrated GPS navigation, Bluetooth connectivity and backup camera, which helps the driver to drive the vehicle with ease. Smart mirrors are used in both automotive and non automotive sectors. The global auto-diming mirror market is growing at a CAGR of 7.59% and it is expected to reach a value of $3 million by 2016.
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The major driving factors of Smart Mirror marke t are comfort and safety. It provides safety by tracking the vehicle whenever required. Use of smart mirror in automotives has reduced the rate of road accidents. This is the biggest benefit of the smart mirror, which leads to a secure driving environment. This smart mirror technology possesses features such as self-dimming, self-cleaning, self-repairing, etc. The key restrain for this technology are its technical drawbacks such as memory loss and faulty sensors etc.
The report handles all the issues in-depth and provides appropriate measures for .the related issues.
Smart Mirror Market Analysis by Technology
The technology segment is primarily classified into two sectors, namely Smart material and Electronic devices. Further, the Smart material sector is classified based on the technology used and their features such as Electro chromic Technology, Self-Dimming Technology, Self Cleaning Mirrors, and Self Repairing Mirrors. Electronic devices sector is classified base on sensors, displays, cameras and touch sensors. All the electronic devices are commonly used in automotives.
Smart Mirror Market Analysis by Applications
Various applications of Smart mirror technology are automotive, consumer & household, medical & healthcare, and advertising & retail. In addition, there are numerous opportunities available in automotive sector through the use of advanced electronic technologies such as Wi-Fi connectivity, integrated sensor systems to further improve road safety.
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Smart Mirror Market Analysis by Geography
Global smart mirror market is segmented into North America, Europe, Asia-Pacific and RoW regions
High Level Analysis
Report gives a fair idea of the global smart mirror market, its benefits and key concerns. The global market analysis using Porter's five force model and SWOT analysis serves the companies to adopt new strategies to increase their market share. Threat of bargaining powers of customers and suppliers is analyzed based on study of partners. Possible set of substitutes are studied to analyze threat of substitutes. Threat of new entrants and intersegment rivalry is estimated based on due analysis of nature of the business. The value chain analysis in the report explains the key intermediaries operating in this market. Market dynamics is analyzed on their strategic moves for the benefit of stakeholders.