Attractive Opportunities in Frequency Synthesizer Market

The report "Frequency Synthesizer Market by Type (Analog and Digital), Components (Phase Detectors, Loop Filters, Oscillators, and Mixers), Application (Telecommunications, Military & Aerospace, and Research & Measurement), and Geography - Global Forecast to 2022", published by MarketsandMarkets, the market in terms of value, is expected to be valued at USD 1,446.3 Million by 2022, growing at a CAGR of 6.56% between 2017 and 2022. In terms of volume, the market is expected to register a shipment of 1,457.0 thousand units by 2022.

 

Frequency synthesizers are key devices having applications in various sectors such as research and measurement, military and aerospace, and telecommunications. The key features of these devices are high signal clarity, low phase noise, high switching speed, and wide output frequency range. The availability of RF capable ICs and chips and an increase in adoption of mobile phones have contributed to a significant growth of the market. The reduced form factor of the RF capable ICs and chips easily enable integration. The wider adoption of mobile phones directly relates to the wider outreach of the telecommunications sector where frequency synthesizers are key components.

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Telecommunications application is expected to dominate the frequency synthesizer market during the forecast period 
The telecommunications application constituted the largest share of the frequency synthesizer market in 2016 and is expected to grow at a considerable rate between 2017 and 2022. The dominance of telecommunications sector in the market is due to the widespread usage of various telecommunications technologies and the continuous evolution in the technologies deployed in the market. The upcoming 5G technology is expected to contribute significantly toward the growth in the market.

Analog type frequency synthesizers held the largest market share in 2016 
The analog frequency synthesizers are expected to hold the largest share and dominate the frequency synthesizer market between 2017 and 2022. The comparatively enhanced signal clarity than that of digital type synthesizers and better phase noise performance is expected to contribute toward more popular adoption of the analog frequency synthesizers in the market.

North America expected to hold the largest market share, and RoW is expected to grow at the highest rate 
North America is expected to hold the largest share and dominate the frequency synthesizer market between 2017 and 2022. A considerable number of frequency synthesizer vendors are based in the U.S., and there is an increase in investment to upgrade telecommunications, military and research equipment, which would contribute toward the market growth in the region. However, the frequency synthesizer market in RoW, consisting of the Middle East and Africa, and South America, is expected to exhibit the highest growth rate on the back of rapidly expanding telecommunications sector in the region and increasing expenditure from the governments to upgrade the electronic equipment of military.

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The frequency synthesizer market ecosystem includes the manufacturers such as Ultra Electronics (U.K.), Texas Instruments Inc. (U.S.), Analog Devices Inc. (U.S.), National Instruments (U.S.), Qorvo, Inc. (U.S.), FEI-Elcom Tech Inc. (U.S.), and Sivers IMA AB (Sweden).


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Major Key Trends in Terminal Management System Market

According to this research report "Terminal Management System Market by Offering (Software & Services (Professional & Managed Services)), Project Type (Brownfield & Greenfield), Vertical (Oil & Gas (Upstream, Midstream, Downstream), Chemicals), and Geography - Global Forecast to 2023", published by MarketsandMarkets™, the terminal management system market was valued at USD 725.5 Million in 2016 and is expected to reach USD 1097.7 Million by 2023, at a CAGR of 5.94% between 2017 and 2023.

 

The implementation of terminal management solution in brownfield terminals reduces operational costs, and the integrated safety and security solutions enhance the level of automation at a terminal.

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Brownfield terminals expected to grow at a high rate during the forecast period 
Traditional terminal infrastructure such as pipeline connections, tanker berths, and other components is already present, and therefore the automation of such existing terminals by integrating software will help increase the number of brownfield projects.

The key reason attributed to the growth of services in the terminal management system market is the growing awareness for installing automation solutions and the need for providing services, such as training and maintenance, to improve the operational efficiency of terminals and make them more efficient.

For instance, in July 2013, ABB Ltd. (Switzerland) received a contract from Amec Foster Wheeler plc (UK) to automate the bulk inventory operations management of the chemicals complex in Saudi Arabia. As per the contract, ABB Ltd. deployed its T-MAC Plus system to optimize operations, as well as increase energy efficiency, safety, and control with a scalable solution.

Terminal management system market in APAC likely to grow at a high CAGR during the forecast period 
Key factors contributing to the growth of terminal management system market in APAC is the increase in the number of terminal automation projects in countries such as India, Malaysia, and the Philippines. For instance, in June 2015, Yokogawa Electric Corporation (Japan) received a contract worth approximately USD 11 million from Bharat Petroleum Corporation Limited (India) to automate its truck-loading terminals. According to the contract, Yokogawa Electric Corporation provided its terminal logistics suite, a terminal automation system (TAS), to truck loading terminals of Bharat Petroleum Corporation Limited in India.

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Major players operating in the terminal management system market include ABB Ltd. (Switzerland), Honeywell International, Inc. (US), Siemens AG (Germany), Yokogawa Electric Corporation (Japan), Rockwell Automation, Inc. (US), Schneider Electric (France), Emerson Electric Corporation (US), Endress + Hauser AG (Switzerland), General Atomics Corp. (California) and Implico GmbH (Germany).


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Network-Attached Storage Market is Booming

The global Network-Attached Storage Market is expected to be worth USD 45.21 Billion by 2023, growing at a CAGR of 20.1% from 2017 to 2023.

For secure data storage and features such as file-based storage and multiple client access are the reason for the adoption of NAS devices across various end-user industries and hence propelling the growth of the NAS market. Following to this, increasing dependence on digital content being stored in the cloud environment by SMBs, the proliferation of social media content along with high-speed data transfer technologies such as 4G & 5G and the need for a large amount of secure data storage devices for video surveillance application is further driving the growth of the network-attached storage market.

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Scale-out NAS is expected to hold the largest market share in 2023

The network-attached storage market for scale-out storage solution is expected to hold the largest market share in 2023. In scale-out NAS system, the capacity of the device can be expanded by adding clustered nodes to store and manage data. With the capacity of the scale-out array, its performance increases, and at the same time, there is a change in the overall system with the addition of nodes. With additional features to upgrade the storage capacity, scale-out storage solution–based NAS devices have been considered as an alternative to scale-up storage solution based–NAS devices.

Network-attached storage market for the healthcare sector to witness the highest growth rate from 2017 to 2023

The NAS market for the healthcare end-user industry is expected to grow at the highest rate during the forecast period. The healthcare industry comprises healthcare services and facilities, medical devices suppliers and manufacturers, medical insurance, and pharmaceuticals. These organizations need to keep the record of the patients. To keep track of the patients, the healthcare organizations use NAS devices. These devices enable the organizations to keep records and to analyze and keep track of patients’ history.

North America leads the network-attached storage market in terms of market size

North America, being the early adopter of advanced data storage technologies, held the largest share of the NAS market in 2016, followed by Europe and APAC. Every industry in North America is being digitized and demands advanced data storage solutions. This is the major reason behind its largest share in the network-attached storage market.

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The companies that are profiled in the report are Dell EMC (US), NetApp, Inc. (US), Hewlett-Packard Enterprise Company (US), Hitachi Data Systems Corporation (US), Western Digital Corporation (US), NETGEAR, Inc. (US), Synology, Inc. (Taiwan), Buffalo Americas (US), Seagate Technology PLC. (US), and QNAP Systems, Inc. (Taiwan).

This report describes the market trends, drivers, restraints, opportunities, and challenges for the network-attached storage market and forecasts the market up to 2023. The report also includes the vendor DIVE matrix of the market, along with a detailed view of the market across 4 major regions: North America, Europe, Asia Pacific, and Rest of the World (which includes the Middle East and Africa [MEA] and South America). The report profiles the 10 most promising players in the NAS market.

Exponential Strong Growth in Head-Up Display Market

The Head-Up Display Market is expected to grow from USD 1.3 billion in 2018 to USD 7.4 billion in 2025, growing at a CAGR of 28.6%. The factors such as increase in awareness about passenger and vehicle safety, convenience offered by the combination of satellite navigation technology and HUD system, increase in demand for connected vehicles and for technologically advanced HUDs drive the demand for head-up displays.

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61 data Tables

51 Figures

142 Pages

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Projectors/ Projections units to hold the largest share of the Head-Up Display Market during the forecast period

The projector is a major part of HUD as it projects the information on a transparent windshield. Projection units use cathode ray tubes, LEDs, or liquid crystal displays to project the image. The different types of projector technologies include Liquid crystal on Silicon (LCoS), Digital Light Processing (DLP), and Laser Beam Steering (LBS). Projection being the major application of the HUDs, it will hold the largest share of the HUD market during the forecast period.

AR-based HUDs expected to grow at higher CAGR during forecast period

AR-based HUDs are expected to be launched in luxury and premium range of vehicles once they become commercially available in 2018. AR-based HUDs can aid in driver information, assistance, and attention management, along with real-time traffic conditions can be viewed. The demand for such advanced technologies is expected to increase in developing and developed countries such as the US, Germany, the UK, China, and Japan, where there is a high adoption of advanced in-vehicle safety technologies.

Automotive application expected to grow at a higher CAGR during forecast period

Head-up display (HUD) is currently provided as a safety feature in high-end cars by leading luxury car brands such as Jaguar (UK), acquired by TATA Motors in 2008; BMW AG (Germany); Audi AG (Germany); and Mercedes-Benz (Germany). The market for automotive HUDs will primarily be driven by the increase in adoption of advanced driving assistance systems by OEMs across vehicle types and consumer demand for in-vehicle safety features that potentially reduce collisions and injuries caused by human-driver errors.

APAC to be the fastest-growing region in the head-up display market during forecast period

In the recent years, APAC has emerged as the hub for automotive production. Several European and American automobile manufacturers have shifted their production plants in developing countries of APAC. Mid-segment cars are increasingly expected to be equipped with HUD systems owing to their decreasing cost. The extensive evolution of the automotive industry in the growing economies such as Japan, China, and India is expected to boost the HUD market

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Some of the major players operating in the head-up display market are Nippon Seiki (Japan), Continental (Germany), DENSO (Japan), BAE Systems (UK), Visteon (US), Pioneer Corporation (Japan), MicroVision (US), Thales (France), Garmin (Switzerland), and Panasonic (Japan).

Major Key Trends in 5G Chipset Market

The 5G chipset market is estimated to be valued at USD 2.03 Billion in 2020 and is expected to be worth USD 22.41 Billion by 2026, at a CAGR of 49.2% from 2020 to 2026. Increasing M2M/IoT connections are fueling the growth of the 5G chipset market. Increasing demand for mobile data services and high demand anticipated from 5G-enabled smartphones are the other key factors driving this market.

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ASIC to hold largest market share from 2020 to 2026

ASIC is expected to hold the largest share of the 5G chipset market from 2020 to 2026. Demand for 5G-enabled smartphones is expected to result in the largest share of ASIC in the 5G chipset market. Many companies are in the process of developing ASIC chipsets to emerge as early providers and showcase commercial readiness for 5G. ASIC chipsets are mainly used in applications such as consumer electronics, autonomous cars, and industrial automation.

5G chipset market for mmWave frequency band to grow at highest CAGR from 2020 to 2026

The 5G chipset market for mmWave frequency band (between 26 and 39 GHz) is expected to grow at the highest CAGR during the forecast period. High bandwidth offered by this spectrum and the improving participation of telecom service providers in this spectrum are fueling the growth of this frequency band. This spectrum is a mixture of licensed and unlicensed spectrum. A world radiocommunication conference (WRC) to be held in 2019 holds the key to realizing the full potential of 5G bands above 24 GHz.

Consumer electronics to account for largest market size between 2020 and 2026

The 5G chipset market is expected to be led by the consumer electronics end-user industry. This can be attributed to the proliferation of 5G-enabled consumer electronic devices in the market. After the commercialization of 5G network connectivity, it is expected that there will be high demand for 5G-enabled smartphones with high-speed internet connectivity. Hence, the consumer electronics industry is estimated to hold the largest share of the 5G chipset market in 2020.

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North America to lead 5G chipset market in terms of market size

North America is estimated to account for the largest share of the 5G chipset market in 2020. High demand for advanced technologies such as connected cars, machine-to-machine communication, and artificial intelligence will offer huge opportunities for the growth of the 5G chipset market in North America. Additionally, North America has emerged as a prominent region in terms of the development, testing, adoption, and implementation of 5G network services and applications.

Companies that are profiled in this report are Intel (US), Xilinx (US), Samsung Electronics (South Korea), Qualcomm Technologies (US), IBM (US), Nokia (Finland), Qorvo (US), Infineon Technologies (US), Integrated Device Technology (US), and Anokiwave (US).

Significant Growth in Cloud Gaming Market

The Cloud Gaming Market is estimated to be valued at USD 306 million in 2019 and is projected to reach USD 3,107 million by 2024, at a CAGR of 59.0%.

The major driving factors are the commercialization of 5G, the rise in a number of gamers, and the upsurge of immersive and competitive gaming on mobile. An increase in the number of internet users is also expected to drive cloud gaming growth during the forecast period.

Browse 108 market data Tables and 50 Figures spread through 176 Pages and in-depth TOC on "Cloud Gaming Market - Global Forecast to 2024"

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Game Platform Service to grow at higher CAGR in cloud gaming market during forecast period

Game platform service is expected to witness the highest growth in the coming years owing to the presence of key market players like Microsoft, Amazon Web Services, and Google. For instance, in March 2019, Google unveiled Stadia, which is a cloud gaming service that enables instant streaming of games on TV, desktop, laptop, tablet, or smartphone and allows users to seamlessly swap between the platforms with the help of wireless controller that connects directly to Google’s cloud.

Gaming console to hold largest size of cloud gaming market in 2019

The gaming console segment will have a major share in the cloud gaming market owing to the extensive and robust distribution network of major players such as Sony and Microsoft. The launch of cloud gaming platforms has rendered console manufacturers with a favorable opportunity to monetize on their existing library of gaming content and augment their product capabilities. These players are primarily employing their cloud gaming platforms to generate recurring revenue streams through their existing gaming users.

Video streaming to witness fastest growth in cloud gaming market in coming years

Video streaming solution relieves clients from computationally intensive graphics rendering and is ideal for clients with resource-constrained devices. Additionally, in this approach, computational load is paid along with network load since transmitting videos is more expensive than transmitting graphics commands. Owing to this, video streaming will hold the largest market share.

Avid Gamer segment held largest share of cloud gaming market in 2019

The larger market share of avid gamer segment is attributed to their regular presence in the gaming market. However, these gamers are attributed to have a stake of 15–25% of total sales volume, and they tend to be more price-sensitive compared to serious gamers. An avid gamer may become a serious gamer, but time constraints limit this possibility. Such gamers treat gaming as an alternative source of recreation and may temporarily stop gaming for studies, jobs, outdoor games, dis-interest, or boredom.

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APAC to have highest CAGR in cloud gaming market during forecast period

The APAC cloud gaming market is foreseen to augment at a significant rate owing to the increasing number of 5G infrastructure development initiatives in the region. Additionally, the cost-effective nature of the cloud gaming platforms is promoting its usage across various new customer classes that vary in investing in gaming systems due to their expensive nature.

The major players in the cloud gaming market are NVIDIA (US), Intel (US), Google (US), Microsoft (US), Amazon (US), Advanced Micro Devices (US), Sony (Japan), IBM (US), Tencent (China), and Alibaba (China).

Key Trends in Track Geometry Measurement System

The track geometry measurement system (TGMS) market is expected to be valued at USD 2.8 billion in 2019 and is likely to reach USD 3.7 billion by 2024, at a CAGR of 6.00% during the forecast period. The use of track geometry measurement systems by the companies operating in the railway industry for complying with various standards and regulations is among the key factors driving the TGMS market. Moreover, the high popularity of no contact track geometry measurement system is another factor boosting the growth of TGMS market.

The market for vertical profile measurement type is expected to witness significant growth during the forecast period. Vertical profile is the track layout on the vertical plane. It is defined as the average height of left and right rails, which is calculated from the mid-point of these rails. The track class and permissible vehicle speed limit are determined by the railroad administration bodies by using these parameters as these are crucial for the operational efficiency of a rail.

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The market for no contact operation type is expected to grow at a high rate during the forecast period. The major benefit of this operation type is that it is suitable for high and low speed. Also, it ensures high accuracy with the help of advanced technologies such as imaging technologies and optical laser sensors. Therefore, this type of operation method is gaining popularity for track geometry measurement.

Among all railway types, the TGMS market for high-speed railways is expected to grow at the highest rate from 2019 to 2024. High-speed railway projects have been progressing rapidly worldwide for the past few years, creating opportunities for the TGMS market. Europe and APAC are the major regions generating demand in the TGMS market for high-speed railways.

The software segment of the TGMS market is expected to grow at a high rate during 2019–2024. Raw data extracted from hardware components are collected, processed, and analyzed using software. The software solutions are mostly in-built in hardware systems; these solutions can also be purchased separately and then integrated into the hardware. With the help of various software, railway companies/operators are able to measure track geometry quickly and precisely, and later view and analyze to find faults, if any.

Among all regions, the TGMS market in APAC is expected to grow at the highest rate during the forecast period. This growth is attributed to the high economic growth witnessed by major developing economies in the region. Key countries in APAC include China, Japan, Australia, and India. The key players are grabbing opportunities by expanding their global reach and launching new products.

Display Driver Market to Witness Highest Growth

The display driver market is estimated to grow from USD 7.1 billion in 2018 to USD 9.1 billion by 2023, at a CAGR of 5.1% between 2018 and 2023.

The market is growing due to the increasing demand for OLED and flexible displays, adoption of highly priced and advanced display drivers, and growth in automotive display market. Growth in the use of 4K and 8K televisions and availability of UHD content, and evolving role of DDICs in individual components and single integration chips also drive the growth of the market for display driver ICs.

Display driver solution providers are closely watching the display panel market to establish growth strategies mainly because of emerging display technologies such as micro-LED and true quantum dot, which will play crucial role in the display panel market in far future. Having a broader product portfolio catering to specific customer needs for OLED and LTPS displays, specific display devices, display panel size, touch displays, color gamut, and others is the major strategy following by the leading players in display driver market. Companies have continuously launched new products or expanded their existing product capabilities to stay ahead in highly competitive market. Acquiring new customers and establishing manufacturing capabilities in customer proximity has also been the major focus of leading display driver solution suppliers.

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The OLED display panel market is expected to grow rapidly during the forecast period, which will eventually increase the demand for high-performance display driver ICs and subsequently drive the market toward high growth. OLED and flexible displays are trending in the display market due to their increasing adoption in smart devices such as smartphones, wearables (smartwatch, AR/VR HMDs), and smart TVs. South Korea accounts for more than 95% of the total OLED display panel production, owing to which demand for a majority of OLED-based display drivers is emerging from South Korea. With huge investments from Samsung and LG Display in the OLED technology and their production expansion, South Korea is expected to dominate the display driver market for OLED displays, in terms of size, during the forecast period.

The display driver market for wearable devices (smartwatches and AR/VR HMDs) is expected to grow at the highest CAGR between 2018 and 2023. Wearables have emerged as a new driving segment in the global display panel market and are used in applications such as consumer, infotainment, military, fitness and gaming, industrial, lifestyle, and healthcare. Demand for smart wearables, especially the AR/VR HMDs, is expected to increase rapidly during the forecast period and subsequently boost the display driver market.

Demand for a majority of display drivers comes for LCD and OLED displays. These displays are produced in Asia Pacific, especially in China, South Korea, Japan, and Taiwan. A large number of operations related to LCD displays are being shifted to Mainland China owing to favorable government policies and low cost associated with logistics operations concerning the delivery of end products in the display panel market. As Samsung and LG Display are forgoing a part of their LCD display panel manufacturing operations in favor of OLED display panels, it is expected to create a void in the LCD display panel market. Chinese players such as CSOT, BOE Technology, and Tianma Micro-electronics attempt to fill this void by opening new LCD display panel manufacturing plants in China. These factors are expected to contribute to high growth of the display driver market in China during the forecast period. Construction of Gen 6 and above facilities by Chinese players, with government support in terms of finance and land offerings, can have significant impact in the global display panel market. This will increase the production of LCD and OLED displays in China and subsequently increase the demand for display drivers for a majority of applications.

The construction of new OLED and LCD panel manufacturing facilities, development of display drivers based on chip-on-film packages, and innovations in TDDI-type display drivers are the major opportunities in front of display driver manufacturers. Smartphone, television, automotive, and smart wearable segments are expected to offer growth opportunities to display driver manufacturers in the market. Increasing demand for display panels with high resolution, fast response time, and better picture quality is expected to influence the display driver market toward major innovations and subsequently significant growth. Display driver solution providers are closely watching the display panel market to establish growth strategies mainly because of emerging display technologies such as micro-LED and true quantum dot, which will play crucial role in the display panel market in future.

AI Infrastructure Market to Receive Overwhelming Hike in Revenues by 2025

Major factors driving the market for AI infrastructure include increasing adoption of cloud machine learning platform, escalating demand for AI hardware in high-performance computing data centers, rising focus on parallel computing in AI data centers, growing volume of data generated in industries such as automotive and healthcare, improving computing power and declining hardware cost, growing number of cross-industry partnerships and collaborations, and expanding AI applications in industries such as healthcare, automotive, finance, and tourism.

The global AI infrastructure market is projected to grow from USD 14.6 billion in 2019 to USD 50.6 billion by 2025, at a CAGR of 23.1%.

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Key Market Players

Key players operating in the AI infrastructure market are Intel Corporation (US), NVIDIA Corporation (US), IBM (US), Samsung Electronics (South Korea), Google (US), Microsoft (US), Micron Technology (US), Amazon Web Services (US), CISCO (US), Oracle (US), ARM (UK), Xilinx (US), Advanced Micro Devices (AMD) (US), Dell (US), HPE (US), Habana Labs (Israel), and Synopsys Inc. (US).

The market in North America and Europe is one of the key factors restraining the growth of the AI infrastructure market.

AI Infrastructure Market for Deep Learning Technology is Estimated to Grow at Higher CAGR During Forecast Period

AI infrastructure for deep learning technology enables a machine to build a hierarchical representation. For instance, the first layer of the captured image could scan for simple edges, followed by a layer that collects edge-forming shapes (such as rectangle or circle). The final layer could identify machine parts. After scanning several layers to identify the required data, the neural network can collate the features into an algorithm that can recognize the overall image. The growing adoption of robots, cybersecurity applications, IoT, industrial automation, and machine vision technology has created a large volume of data.

AI Infrastructure Market for Cloud Service Providers in APAC is Estimated to Grow at Highest CAGR During Forecast Period

Cloud service providers (CSPs) offer network services, infrastructure, or business applications in the cloud to various companies from industries such as automotive, healthcare, retail, and manufacturing.  The cloud mainly addresses 3 areas of operations: software-as-a-service (SaaS), infrastructure-as-a-service (IaaS), and platform-as-a-service (PaaS). The number of data center providers and cloud companies is likely to increase owing to the high efficiency and economies of scale offered by cloud computing.

China Is Expected to Grow at Highest CAGR in AI Infrastructure Market During Forecast Period

The AI infrastructure market in China is growing rapidly. As multinational and domestic enterprises increasingly transit to cloud services providers (CSPs) and collocation solutions, the AI data center growth in China continues to evolve. The demand for AI data centres in the country has exceeded the available supply as organizations seek enhanced connectivity and scalable solutions for their growing businesses. Investments by the Chinese government for stimulating technological developments have led to an increase in the adoption of cloud-based services such as Big Data Analytics and Internet of Things (IoT).

North America is Projected to Hold Largest Market Share during Forecast Period

At present, North America accounts for the largest share of the global AI infrastructure market, and a similar trend is likely to continue in the near future. The US and Canada are expected to adopt AI-based servers at a high rate. These countries are technologically developed economies in North America because of their strong focus on investing in R&D activities for the development of new technologies. The North American AI infrastructure is further segmented into the US, Canada, and Mexico. The US is one of the major contributors to the North American AI market. The US is one of the leading countries in the world to adopt AI technology.

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Smart Mirror Market Bigger Than It Looks

According to the new market research report "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", The smart mirror market 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.

The growth of the smart mirror market can be attributed to 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.

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Automotive application to hold largest size of smart mirror market by 2018

The smart mirror market is segmented on the basis of application into automotive, hospitality and retail, and others; others include smart homes and healthcare applications. The automotive application is expected to hold a major share of the smart mirror market by 2018. Smart mirrors are widely used in cars and light commercial vehicles. The smart mirrors used in automotive applications include auto-dimming mirrors and connected mirrors, with functionalities such as temperature display, Bluetooth and hands-free connectivity, navigation, turn signals, and microphone. The wide adoption of auto-dimming mirrors owing to such capabilities is a major factor contributing to the largest share of the automotive application in the smart mirror market.

Automotive smart mirror market for exterior mirror to grow at higher CAGR during 2018–2023

Exterior mirrors, or outer rear-view mirrors, are mounted on the outer body of the vehicle to get rear-view images of the traffic on both sides of vehicles. Generally, the passenger cars are installed with 2 outer mirrors one on each side of the vehicle. The major manufacturers of the exterior smart mirrors for automotive are Gentex (US), Magna (Canada), Ficosa (Spain), and Murakami Co., Ltd. (Japan). OEMs are now focusing on the addition of more features to outer mirrors, as they plan to integrate the capabilities for advanced driver assistance systems (ADAS), such as blind spot indicator and lane departure warning indicator, along with park assist.

Market for software component to grow at highest CAGR from 2018 to 2023

Software is an essential part of any smart mirror used in hospitality and retail, and healthcare and smart home applications. The software is used to display any information on the mirror screen. The information to be displayed varies according to the use of the mirror. The data required for displaying this information is sourced from various data sources. The predicted highest growth of the market for software for the said applications is attributed to the large adoption of AR-based mirrors in the hospitality and retail sectors. The advancement of the features such as 3D modeling is likely to result in the higher growth of the market for software during the forecast period.

Europe to hold largest share of automotive smart mirror market by 2018

Europe is the largest market for automotive smart mirrors. Europe is home to major automobile manufacturers such as Volkswagen (Germany), BMW (Germany), and Daimler (Germany), which are expected to create significant demand for auto-dimming smart mirrors. The region is also known for its stringent safety regulations and advanced technologies. The automotive OEMs in Europe are focused on developing new technologies to meet the increased demand for advanced features and increasingly stringent safety norms.

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Major players in the smart mirror market are Gentex (US), Magna (Canada), Electric Mirror (US), Seura (US), Murakami Kaimeido (Japan), Ficosa (Spain), ALKE (Belgium), Ad Notam (Germany), Dension (Hungary), and Keonn (Spain).

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MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

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