The outbreak of the COVID-19 pandemic has made a negative impact on the growth of the smart mirror market. The sustainability of the global market is mainly driven by a significant role of the smart mirror in the healthcare, automotive, and retail industry sector. Though the industries across the countries are shut down in order to reduce the negative impact of the outbreak, the smart mirror market is hindered for a short period of time. This is mainly because of market players of the global smart mirror market are mainly concentrating on the product innovation strategy. For instance, in Jan2020, Gentex and Aston Martin have introduced an advanced tri-camera rearview mirror for a safe and better driving experience. These factors may create a significant impact on the growth of the global market. In addition, during the crisis of COVID-19 chaos situation, government bodies are also providing support to the smart mirror manufacturers.
Check out How COVID-19 impact on the Smart Mirror Market. Click here to Connect with Analyst @ https://www.researchdive.com/covid-19-insights/217/global-smart-mirror-market#myQueryForm
This report is designed to guide leaders in operational, strategic, and financial planning over, the future years. Our report consists of:
- Technological Impact
- Social Impact
- Investment Opportunity Analysis
- Pre- & Post-COVID Market Scenario
- Infrastructure Analysis
- Supply Side & Demand Side Impact
According to the recent publication of Research Dive, the global market for a smart mirror is set to register a revenue of $4,028.3 million by 2026, at 8.8% CAGR during the forecast period.
The segmentation of the global market has been done on the basis of components, end-use industry, and region. The report provides key insights on opportunities, drivers, restraints, vital segments, and market leaders of the global industry.
Check out How retail segment will have significant growth and is projected to surpass $600.4 million in 2026 with 9.6% CAGR, during the forecast period @ https://www.researchdive.com/covid-19-insights/217/global-smart-mirror-market
Factors Affecting the Growth
As per our analyst estimates, the versatility of the smart mirror in multiple industries such as the healthcare, retail, and automotive sector are propelling the growth of the smart mirror in the global market. However, the higher cost of the smart mirror is expected to hamper the growth of the global smart mirror market, during the forecast timeframe.
The Solution Segment will be Most Lucrative
On the basis component, the global market for the smart mirror is categorized into solution, hardware, and software. The solution market accounted for $578.2 million in revenue in 2026 and is expected to rise at a CAGR of 10.1%.
The Retail Sector Will Have exponential growth during the Analysis Period
Depending upon the end-use industry, the global smart mirror market is broadly fragmented into healthcare, retail, smart homes, automotive, hospitality, healthcare, and others. The retail sector for the global smart mirror market valued at $600.4 million in 2026 and is expected to register a CAGR of 9.6% during the analysis period. The growth of the market is mainly attributed to the growing emphasis on enhancement in retail stores with ‘Smart Mirror technology.
Geographical Analysis and Major Market Players
Depending on the geographical region, the global smart mirror market is classified into North America, Europe, Asia Pacific, and LAMEA.
The Europe smart mirror market accounted for $789.6 million in 2018 and is expected to grow at a CAGR of 7.6% during the forecast period. The rising availability of multiple voice assistants, technological innovations, and the growing emphasis on enjoyable shopping experiences are some of the factors anticipated to boost the growth of the Europe smart mirror market.
The significant market players of the global smart mirror market include GENTEX CORPORATION, Ficosa Internacional SA, Magna International Inc., SAMSUNG, DENSION LTD, Murakami Corporation., Séura, Japan Display Inc., Kickstarter, PBC, and ELECTRIC MIRROR, INC.
Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.
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