The world today is highly fascinated about smart devices. With the
growing digitalization and advancement in technologies, every device has been
upgraded to a smarter version of its basic model. And now, not just the
devices, but technology has shown its wonders in the ‘world of mirrors’ as well.
According to a research, the mirror industry is expected to flourish due to the
rising popularity and demand for smart mirrors from all across the globe.
1 Smart Mirror
Market Segmentation by Component
- Hardware
- Software
- Services
2 What is a smart mirror?
A smart mirror is a technologically advanced mirror that is equipped
with a display screen which is integrated behind its glass. This mirror is able
to display everything from news feeds, weather predictions, upcoming
appointments to current time on the surface of the mirror. Basically, this is a
high-tech device which is similar to a smartphone. With this device, a user can
view anything he/she wishes to know about, without the need to unlock one’s
mobile phone.
3 Smart Mirror Market Segmentation by End use
- Automotive
- Hospitality
- Retail
- Smart
homes
- Health
care
- Others
The
cost of the smart mirror is one of the main restrains. As the cost of the smart
mirror is considered to be very high only the premier and top segment can only
afford it. The security concern is considered to be the major restrains in
smart mirror market. Such mirrors have linked to the customer's personal
information, which is shared inadvertently but may result in a breach of
security.
4 Key Companies
Profiled
- Dension
Inc.,
- Electric
motors,
- Ficosa(Panasonic),
- Gentex
corporation,
- Japan
display Inc.,
- Magna
international Inc.,
- Murakami
corporation.,
- Perseus
motors,
- Samsung
Electronics,
- Seura
5 Growing demand for smart mirrors
Smart mirrors can be used in homes as well as in various other areas
such as beauty salons, shopping malls, clothing stores, hospitals, and
vehicles. The rising demand for smart mirrors from numerous sectors is creating
more growth opportunities for the smart mirror market. Major automotive
manufacturers such as BMW, Volkswagen, Hummer, Ferrari, and Aston Martin have
implemented this technology in automobiles to offer 360-degree view, smart
vision, and signals for notifying potential threats. The application of smart
mirrors in automotive industry is expected to be one of the major driving
factors for the growth of smart mirror market.
6 New developments in the smart mirror
industry
Recently, Capstone Companies, Inc., a designer, manufacturer, and
marketer of consumer inspired products which is well-known for integrating
technological innovations with today’s lifestyle has launched a magical
Capstone Connected smart mirror. This product enables you to do all your
grooming activities and simultaneously gain insights such as local news,
weather forecasts, check the traffic conditions before leaving, and many more
interesting things.
Look wise, the device is exactly like a mirror, with an advanced design
which makes it perfect for a bedroom, bathroom, entryway or even for commercial
stores. Along with basic functionality of a normal mirror, the device also has
features similar to a tablet, for instance, touchscreen and voice interfaces
for internet access. The device is built using an Android operating system
which can be used for downloading apps, browsing social media platforms, and
all the activities that can be done using internet. In case of multiple users
using the device, each user can change and customize the smart mirror according
to their personal needs.
Apart from Capstone there are many other companies trying to contribute
to the growth of smart mirror industry. Some of the top companies are Perseus
motors, Dension Inc., Electric motors, Japan display Inc., Gentex corporation,
Magna international Inc., Murakami corporation., Samsung Electronics, Ficosa
(Panasonic), Seura, and many others. These companies are greatly involved in
several activities such as merges and collaborations, partnerships, new product
launches, and geographical expansions.
7 Smart mirror industry to have more growth
opportunities in coming years
At present, smart mirrors are mostly in demand in the luxury markets
owing to their high costs. As per a survey, these days people are showing
increased interest in purchasing smart devices such as smart mirrors due to the
advantages they offer. The growing popularity and demand for smart devices is
giving a boost of motivation for companies active in this market to launch
upgraded versions of smart mirrors. Also, a report by Research Dive states that
the Europe is one of the highly potential
market for smart mirrors . On the
other hand, Asia- pacific is expected to be the largest emerging market in
coming years, owing to growing GDP and increased number of hotels and
restaurants in this region. Hence, considering all these factors it is clear
that one can definitely invest in the smart mirror industry in the upcoming
years.
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