Surge in adoption of smart mirrors in the automotive sector, increase in demand for connected device, and transition of digital stores in the retail industry propel the growth of the global smart mirror market. The hardware segment accounted for nearly two-thirds of the total market revenue in 2018. On the other hand, the region across LAMEA would cite the fastest CAGR of 15.0% throughout the forecast period.

Portland,OR, March 30, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global smart mirror market was estimated at $1.92 billion in 2018 and is expected to hit at $4.11 billion by 2025, registering a CAGR of 11.5% from 2018 to 2025. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.

Growing adoption of smart mirrors in the automotive sector, rise in demand for connected device, and transition of digital stores in the retail industry fuel the growth of the global smart mirror market. On the other hand, high initial cost ad security of private information. However, increase in adoption of smart homes coupled with advances in industry 4.0 is expected to create lucrative opportunities for the key market players in the industry.

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The automotive segment to maintain its dominance till 2025-

Based on end-user, the automotive segment accounted for 85% of the total market share in 2018 and is expected to lead the trail by 2025. The residential segment, on the other hand, is projected to grow at the fastest CAGR of 17.7% through 2018–2025.

The hardware segment garnered the lion’s share in 2018-

Based on component, the hardware segment contributed to nearly two-thirds of the total market revenue in 2018 and is predicted to retain its lion’s share during the study period. Simultaneously, the services segment would showcase the fastest CAGR of 13.0% by 2025.

Europe to rule the roost in terms of revenue-

Based on geography, Europe held the major share in 2018, accounting for nearly two-fifths of the total market. At the same time, the LAMEA region would register the fastest CAGR of 15.0% throughout the forecast period.

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Key players in the industry-

The key market players analyzed in the global smart mirror market report include Gentex Corporation, Magna International Inc., Murakami Kaimeido, Ficosa, Dension, Japan Display Inc., Perseus Mirrors, Electric Mirror, Seura, and Samsung Electronics. These market players have combined several strategies including partnership, expansion, collaboration, joint ventures, and others to prove their flair in the industry.

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