Market Size –
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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Scope Of Smart Mirror Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Smart Mirror Market Overview
Market Drivers –
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.
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
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Regional Insights –
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.
Key Companies –
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
Table of Contents
1. Executive Summary
2. Smart Mirror Market Report Structure
3. Smart Mirror Market Trends And Strategies
4. Smart Mirror Market – Macro Economic Scenario
5. Smart Mirror Market Size And Growth
…..
27. Smart Mirror Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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