Overview and Scope
Smart mirrors are two-way mirrors, having an electronic display behind the glass. The time, weather, calendar events, and the day’s news can all be displayed. These mirrors can show information, include touch input, and include speakers, cameras, microphones, and other sensors. It is used to access different types of information in the form of widgets, such as the current weather, and time, date, and news updates.
Sizing and Forecast
The smart mirror market size has grown rapidly in recent years. It will grow from $3.26 billion in 2023 to $3.73 billion in 2024 at a compound annual growth rate (CAGR) of 14.3%. The growth in the historic period can be attributed to vanity and grooming trends, retail and fitting room experiences, growth in augmented reality (ar) and virtual reality (vr), adoption of smart home technology, retail and fashion industry applications.
The smart mirror market size is expected to see rapid growth in the next few years. It will grow to $6.21 billion in 2028 at a compound annual growth rate (CAGR) of 13.6%. The growth in the forecast period can be attributed to personalized shopping experiences with smart mirrors, fitness and wellness monitoring in home mirrors, integration of ai for virtual try-ons, global expansion of smart home technology, healthcare and telehealth applications, augmented reality makeup and beauty guidance. Major trends in the forecast period include smart mirrors with ai fashion stylists, biometric and facial recognition for personalization, interactive fitness and workout mirrors, smart mirrors for skin health and diagnostics, ar and vr integration for immersive experiences, eco-friendly and sustainable smart mirror materials..
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Segmentation & Regional Insights
The smart mirror market covered in this report is segmented –
1) By Component: Hardware, Software, Services
2) By Type: Exterior Mirror, Interior Mirror
3) By Functionality: Connected, Non-Connected
4) By Feature: AR-Smart Mirror, Non AR-Smart Mirror
5) By Application: Automotive, Healthcare, Retail And Marketing, Consumer, Other Appplications
Asia-Pacific was the largest region in the smart mirror market in 2023. The regions covered in the smart mirror market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
The high demand for connected devices is expected to propel the growth of the smart mirrors market. Consumers have been keen to investigate the advantages of adding additional devices to the internet and how that may enhance their lives as technology has developed. The increasing demand for connected devices will increase the demand for smart mirrors and also improve functionality and features. According to IoT Analytics, a German-based Internet of Things (IoT) market insights and strategic business intelligence, in 2022, the internet of things is expected to grow to 14.4 billion active connections from 12.3 billion in 2021. Therefore, the high demand for connected devices drives the growth of smart mirrors.
Key Industry Players
Major companies operating in the smart mirror market include Perseus Mirrors, Samsung Electronics Co. Ltd., Electric mirror Inc., Japan Dsiplay Inc., Magna International Inc., Ficosa Internacional SA, Blickfeld GmbH, Magic Fitness, Fiture Holding LLC., Mirror (Vaurum Labs), Arecor Ltd plc., Avegant Corp., Oak Labs, Dension Ltd., Panasonic Corporation, Space Micro Inc., Fusion Processing, PsyOmics Ltd., Gentex Corporation, Portl Technologies, Vercon Smart Mirror Factory, Murakami Kaimeido Kyushu Corp., Seura Solutions LLC., HiMirror Inc., MirroCool Inc., HILO Smart Mirror Inc., Memomi Labs Inc., Perch Interactive Inc., SmartSpot Inc., Smart Mirrors Solutions LLC
The smart mirror market report table of contents includes:
1. Executive Summary
2. Smart Mirror Market Characteristics
3. Smart Mirror Market Trends And Strategies
4. Smart Mirror Market – Macro Economic Scenario
5. Global Smart Mirror Market Size and Growth
…..
31. Global Smart Mirror Market Competitive Benchmarking
32. Global Smart Mirror Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Smart Mirror Market
34. Smart Mirror Market Future Outlook and Potential Analysis
35. Appendix
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