Published Date : Jun 30, 2016
The global smart mirror market is significantly gaining from the increasing demand from major shopping outlets and malls. Favorable government policies encouraging the installation of camera display mirrors in light vehicles are also giving impetus to the global smart mirrors market.
Smart mirrors are made with layers of different materials. Owing to their self-cleaning, self-repairing, and self-dimming capabilities, smart mirrors are considered highly functional. The smart mirror technology also include embedded electronics such as cameras, sensors, and display, which help in converting simple mirror into an electronic device.
Increasing Application of Smart Mirrors across Diverse Industries to Boost Market
The increasing application of smart mirrors across industries such as consumer, healthcare, automotive, and advertising has been the primary factor propelling the market’s growth around the world. In the automotive industry, smart mirrors are increasingly used due to the rising concerns related to road safety. For instance, incorporating electronic self-dimming smart mirrors has helped to considerably improve road safety. Additionally, electronic features of smart mirrors such as GPS, Wi-Fi connectivity, touch capability, display, and sensor systems integrated in these mirrors helps drivers to be more cautious about their surroundings, thus improving road safety. The demand for smart mirrors from the automotive industry is therefore expected to surge at an impressive rate, thus boosting the overall smart mirror market.
Apart from the automotive industry, the market is also expected to witness attractive opportunities in the retail and advertising segment. The growing investment in the research and development activities and the increasing penetration of new technologies will also have a positive influence on the trajectory exhibited by the global smart mirror market.
Companies on Focusing on Launching New Features to Gain Competitive Advantage
Leading companies operating in the global smart mirror market are focusing on rolling out novel features to gain competitive advantage in the market. Several prominent names in the retail industry are capitalizing on the launch of these novel technologies. For instance, Polo Ralph Lauren Corporation in November 2015 has deployed smart mirrors across the changing rooms in all its outlets in New York. Customers can tap on these mirrors for any assistance on the items to try on.
The global smart mirror market is therefore expected to gain significantly from the launch of such recent advancements.