Driven by a burgeoned expansion in the residential constructional activities all around the world, the global smart mirror market is anticipated to beef up at a stupendous compound annual growth rate (CAGR) of 12.83%, according to our research report “Global Smart Mirrors Market Outlook 2021.”
The global real estate market was valued at USD 13 Trillion in 2015 and is projected to flourish at a healthy rate and reach to USD 24 Trillion by 2020. With the expansion of real estate industry, the number of newly constructed residential buildings is also expected to increase in the coming 5-6 years. This in-turn is likely to fuel the demand of smart mirrors from the residential sector over the covered forecast period.
Smart mirrors are majorly used in the dressing rooms of the retail stores as a virtual dressing platform, which enables the shopper to try multiple outfits and matching attires just by standing in-front of the mirror without actually wearing the clothes. With rising construction activities, the number of clothing retail stores is also expected to increase, which in-turn is believed to augment the growth of smart mirrors market during the forecast period.
The global smart mirror market is mainly segmented on the basis of regions, components and applications. The application segment is further subdivided into automotive, consumer and residential, healthcare, retail and advertising. The consumer and residential is projected to witness the highest growth in comparison to other sectors during 2015-2021.
For in-depth analyses, the report titled “Global Smart Mirror Market Outlook 2021” encompasses the market trends, growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis, Year-on-Year (Y-O-Y) growth comparison and Porter’s five force model.
With the purpose of examining the current competitive landscape of the smart mirror market, this report covers profiling of some of the top players which include Keonn Technologies, Seura, Magna International Inc., Gentex Corporation, Toshiba Corporation, LG Electronics, Panasonic Corporation, etc. The profiling enfolds key information of the companies which includes company overview, products and services, key financials and recent news and developments. On the whole, the report encompasses detailed overview of the global smart mirror market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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