Dublin, Dec. 13, 2018 (GLOBE NEWSWIRE) — The “Smart Mirror Market by Application (Automotive, Hospitality & Retail), Automotive Smart Mirror (Type and Functionality), Hospitality & Retail Smart Mirror (Component, Technology, and Augmented Reality), and Region – Global Forecast to 2023” report has been added to ResearchAndMarkets.com’s offering.
The smart mirror market, in terms of value, is expected to grow from USD 2.82 billion by 2018 to USD 4.42 billion by 2023, at a CAGR of 9.41% from 2018 to 2023.
Major drivers for the growth of smart mirror market are the increasing demand for smart mirrors in the automotive industry, the transition from traditional stores to digital stores in the retail industry, the presence of a large number of start-ups in the smart mirror market, and new and innovative features of smart mirrors.Smart mirrors are often used in the retail sector wherein retailers try to catch the interest of potential clients and encourage them for frequent or regular visits. Additionally, they can display useful information, ranging from price and size availability to the fabric used. Smart mirrors allow shoppers to share their shopping experiences on social media. The increasing adoption rate of smart mirrors in North America and Europe for the hospitality and retail sectors is also driving the smart mirror market.These players have adopted strategies such as product launch, product developments, collaborations, agreements, and acquisitions to cater to the needs of customers.Market Dynamics
Drivers
Increasing Demand for Smart Mirrors in Automotive IndustryTransition From Traditional Stores to Digital Stores in Retail IndustryPresence of Large Number of Start-Ups in Smart Mirror MarketNew and Innovative Features of Smart MirrorsRestraintsSecurity of Confidential and Personal DataOpportunitiesGrowing Smart Home MarketUntapped Market in APACChallengesHigh Costs and Lack of AwarenessCompanies Mentioned
ActimirrorAD NotamAlkeDensionDirrorElectric MirrorFicosaGentexGlance DisplaysKeonnMagnaMemomiMirrocoolMurakami KaimeidoMyra MirrorsOak LabsPerseus MirrorsSeymourpowellSmartspotSuraFor more information about this report visit https://www.researchandmarkets.com/research/sbvrd4/4_4_billion?w=12Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.CONTACT: ResearchAndMarkets.com
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Related Topics: Telematics and Vehicle Electronics, Internet of Things and M2M
$4.4 Billion Smart Mirror (Automotive, Hospitality & Retail) Market 2018 – Global Forecast to 2023 – GlobeNewswire
