Driving the Growth of Smart Mirror Market
The global Smart Mirror Market is estimated to be valued at US$ 988.6 Mn or Mn in 2023 and is expected to exhibit a CAGR of 15% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
SWOT Analysis: -
· Strengths: - Smart mirrors offer improved safety, convenience and personalization compared to traditional mirrors. They provide real-time information to users.
· Weaknesses: - High initial costs and technical complexities involved in developing and manufacturing smart mirrors.
· Opportunities: - Growing adoption in automotive, retail and other industry verticals. Potential for development of advanced features like facial/gesture recognition.
· Threats: - Issues regarding data privacy and security. Competition from other digital displays.
Key Takeaways: -
The Global Smart Mirror Market Growth is expected to witness high, exhibiting CAGR of 15% over the forecast period, due to increasing consumer preference for connected home devices and adoption of IoT technology.
Regional analysis: - North America dominated the smart mirror market in 2023, accounting for over 30% share. However, Asia Pacific is anticipated to grow at the fastest rate due to rising automobile production and increasing focus of Chinese OEMs on developing smart cities.
Key players: - Key players operating in the smart mirror market are ad notam AG, Evervue, Gentex Corporation, Magna International Inc., Murakami Kaimeido, Panasonic Corporation, Perseus Mirrors, Pro Display, Samsung Electronics Co., Ltd., and Tech2O.
Read More - https://themediumblog.com/driving-the-growth-of-smart-mirror-market/
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