Europe Smart Mirror Market Size, Share & Industry Trends Analysis Report By Sales Channel (Indirect Sales and Direct Sales), By Offering, By Technology (Electro Chromatic), By Installation Type, By Application, By Country and Growth Forecast, 2022 - 2028
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Market Report Description
The Europe Smart Mirror Market would witness market growth of 14.3% CAGR during the forecast period (2022-2028).
Manufacturers in the market are concentrated on meeting consumer demand because being socially active & updated at the same time is a current demand. As a result, smart mirrors are incorporated with social media networks and offer daily news updates as well as weather and traffic updates. Thus, over the course of the forecast period, these factors are anticipated to support the growth of the smart mirror market.
Also, smart mirrors are increasingly taking the place of traditional mirrors in trial rooms at numerous high-end apparel accessory stores and outlets. As a result, customers will be able to virtually try on the product they want to buy without actually doing so. These mirrors have top-notch sensors that accurately scan the customer's physical characteristics before reproducing the same dimensions in a virtual reflection along with the chosen outfit or accessory. The major players are all concentrating on expanding their individual portfolios. These companies engage in research & development to create novel products with supplementary features that can be utilized in a variety of application areas.
The use of consumer electronics such as laptops, smartphones, and others is rapidly increasing in the region. Governments all around the world are promoting investment opportunities in the production of various electronic devices and supporting digitization. Customers anticipate a broad range of new products with expanded services & installations as well as more capabilities. The consumer electronics industry in the region is expanding as a result of changing lifestyle preferences, the rise of the middle class, and a growing propensity to use smart electronic devices. Additionally, the growing number of internet users and high consumer disposable income will probably accelerate the development of digital devices in the future. This expanding demand for consumer electronics would contribute to the growth of the regional smart mirror market.
The Germany market dominated the Europe Smart Mirror Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $488 million by 2028. The UK market is exhibiting a CAGR of 13.3% during (2022 - 2028). Additionally, The France market would experience a CAGR of 15.2% during (2022 - 2028).
Based on Sales Channel, the market is segmented into Indirect Sales and Direct Sales. Based on Offering, the market is segmented into Hardware (Displays, Cameras, Sensors, and Others), Software, and Services. Based on Technology, the market is segmented into Electro Chromatic and Others. Based on Installation Type, the market is segmented into Fixed and Free Style. Based on Application, the market is segmented into Automotive, Residential, Retail, Hospitality, Healthcare, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Smart Mirror Market will Hit $6.6 Billion by 2028, at a CAGR of 15.8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Murakami Corporation, Japan Display, Inc., Gentex Corporation, Magna International, Inc., Harman International Industries, Inc. (Samsung Electronics Co., Ltd.), Seura Solutions, ad notam AG, Dension Kft., Keonn Technologies, and Ficosa International, S.A.
Scope of the Study
Market Segments Covered in the Report:
By Sales Channel
- Indirect Sales
- Direct Sales
- Electro Chromatic
By Installation Type
- Free Style
- Rest of Europe
Key Market Players
List of Companies Profiled in the Report:
- Murakami Corporation
- Japan Display, Inc.
- Gentex Corporation
- Magna International, Inc.
- Harman International Industries, Inc. (Samsung Electronics Co., Ltd.)
- Seura Solutions
- ad notam AG
- Dension Kft.
- Keonn Technologies
- Ficosa International, S.A.
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