Smart Mirrors Market
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Smart Mirrors Market Size, Share & Analysis By Product Type (Touchscreen, Without Touchscreen), By Application (Automotive, Retail, Residential, Hospitality, Healthcare, Others), By Distribution (Offline, Online), By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa), and Growth Forecast To 2032
Report ID: RV95965 | Published: Mar 2024 | Historical Period: 2018-2022 | Pages: 186 | Price: $3260| Industry: Consumer Goods
Smart Mirrors Market Overview 2024:
The global smart mirrors market size was USD 2.9 billion in 2023 and is expected to register a robust revenue CAGR of 16.5% during the forecast period. This growth can be significantly driven by factors such as rising integration of advanced technologies such as Artificial Intelligence (AI), Internet of Things (IoT), Augmented and Virtual Reality (AR/VR), high deployment of smart mirrors across commercial and residential sectors, and rising demand for IoT devices.
Smart mirrors, also known as magic mirrors are innovative technological devices that combine the functionality of traditional mirrors with various advanced features like interactive display, touchscreen interface integrated cameras, and sensors. These mirrors are equipped with various sensors, interactive display panels, and cameras to provide a range of functionalities apart from simple reflection.
Smart mirrors are commonly used in residential and commercial bathrooms, bedrooms, apparel stores, cosmetic stores, hotels, restaurants, gyms, fitness centers, clinics and hospitals, and vehicles and automotive showrooms.
Smart mirrors are typically equipped with features such as weather updates, news feeds, calendar events, and entertainment features like streaming video, music, and podcasts. These mirrors also allow consumers to try on products or clothing items without physically trying them on. In addition, it enables individuals to display and record their exercise routines, workout videos and progress tracking.
However, these smart mirrors are costly compared to traditional mirrors which can hinder its adoption in low-income households or small businesses.
Graphical Overview:
Key Takeaways:
High Preference for Personalized Experiences and Increasing Focus on Health and Wellness:
Consumers are constantly seeking personalized experiences across several aspects of their lives, including in-home environments. They are investing in customized home products including smart mirrors with features like customizable lighting, virtual try-ons for clothing and cosmetics, and tracking health and fitness. This is a crucial factor driving global market growth during the forecast period.
Other factors such as rising individual spending capacity, increasing investments in R&D activities, and expanding applications of smart mirrors in retail and hospitality are expected to boost global market growth over the forecast period.
Limited Awareness and Integration Challenges:
Though different smart devices are gaining traction in many parts of the globe, there is still limited awareness about the capabilities and benefits of smart mirrors among consumers. This can hamper the market growth to a certain extent going ahead.
As smart mirrors are equipped with cameras, microphones, and sensors there is a high possibility of data thefts and easy access to sensitive user data. In addition to this, integrating smart mirror solutions with existing infrastructure can be challenging for users as well as businesses. These factors too can hamper overall market growth between 2024 and 2032.
Product Type Outlook:
Based on product type, the global market is segmented into touchscreen, and without touchscreen. The touchscreen market is expected to account for a significantly larger revenue share during the forecast period. This growth can be attributed to rapid advancements in mirror and touchscreen technology, rising adoption of touchscreen mirrors in residential and commercial settings, increasing purchasing power, and high preference for touchscreen smart mirrors for interactive user experience, enhanced convenience, and multi-touch capability.
Distribution Channel Outlook:
The global market is segmented into offline, and online based on distribution channels. The online segment is expected to register rapid revenue CAGR over the forecast period owing to rapidly expanding e-commerce sector, rising number of online retailers, and high preference for online shopping due to enhanced convenience, wide variety, hassle-free payments, and quick delivery.
Regional Outlook:
North America market is expected to account for a significantly larger revenue share in the global market during the forecast period owing to constant technological advancements, rising adoption of AR/VR, AI, and IoT in mirror solutions, presence of leading companies, high preference for personalized experiences and rising deployment of smart mirrors across various sectors.
Report Coverage:
| Report Details | Outcome |
| Base Year for Estimation | 2023 |
| Historical Data | 2018-2022 |
| Forecast Period | 2024-2032 |
| Segments Covered | Product Type, Application, Distribution, and Region |
| By Product Type | Touchscreen, Without Touchscreen |
| By Application | Automotive, Retail, Residential, Hospitality, Healthcare, Others |
| By Distribution | Offline, Online |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Country Scope | United States, Canada, Germany, France, UK, Italy, Russia, China, Japan, South Korea, Southeast Asia, India, Mexico, Brazil, Saudi Arabia, UAE, Turkey |
| Qualitative Info | •Value Chain Analysis •Pricing Analysis •Regional Outlook •Market Trends •Market Share Analysis •Competition Analysis •Technological Advancements |
| Key Players | Gentex Corporation, Electric Mirror, Ficosa International, Seura, Magna International, Samsung Electronics, Pro Display, Evervue, Dension, Perseus Mirrors, MirroCool, Panasonic Corporation, Toshiba Corporation, Murakami Corporation, Memomi Labs Inc., ACEPOM Technology, Mirrorme, SmartMirror.com, Oak Labs Inc. |
| Customization Scope | 10 Hours of Free Customization and Expert Consultation |
Competitive Landscape:
The global smart mirrors market is extremely competitive, comprising several regional and global level key players. Leading key players are focused on adopting various strategic alliances like mergers and acquisitions, partnerships, joint ventures, collaborations, and product launches to maintain their global position and enhance their product offerings. They are also focused on innovation, and scalability, and are adapting to evolving technology trends and consumer needs.
Some Leading Market Companies Listed in the Report:
- Gentex Corporation
- Electric Mirror
- Ficosa International
- Seura
- Magna International
- Samsung Electronics
- Pro Display
- Evervue
- Dension
- Perseus Mirrors
- MirroCool
- Panasonic Corporation
- Toshiba Corporation
- Murakami Corporation
- Memomi Labs Inc.
- ACEPOM Technology
- Mirrorme
- SmartMirror.com
- Oak Labs Inc.
Smart Mirrors Industry Recent Developments:
- In March 2022, Portl, a fitness technology company announced the launch of its first smart mirror equipped with WiFi, Bluetooth connectivity, and edge AI processing. The sensors help to detect incorrect posture and form and provide nutrition recommendations and access to several qualified coaches.
- In January 2022, MySize announced the launch of MySizeID FirstLook Smart Mirror at the National Retail Federation 2022.
- In January 2022, Wellnesys, Inc. introduced ARIA, a smart mirror with computer vision, AR/VR, and smart sensing technologies.
The global smart mirrors market has been segmented based on product type, application, distribution channel, and region:
By Product Type:
- Touchscreen
- Without Touchscreen
By Application:
- Automotive
- Retail
- Residential
- Hospitality
- Healthcare
- Others
By Distribution Channel:
- Offline
- Online
By Region:
- North America
- United States
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Russia
- Nordic Countries
- Asia Pacific
- China
- Japan
- South Korea
- Southeast Asia
- India
- Australia
- Rest of Asia
- Latin America
- Mexico
- Brazil
- Rest of Latin America
- Middle East & Africa
- Turkey
- Saudi Arabia
- UAE
- Rest of MEA
Frequently Asked Questions!
- Gentex Corporation
- Electric Mirror
- Ficosa International
- Seura
- Magna International
- Samsung Electronics
- Pro Display
- Evervue
- Dension
- Perseus Mirrors
- MirroCool
- Panasonic Corporation
- Toshiba Corporation
- Murakami Corporation
- Memomi Labs Inc.
- ACEPOM Technology
- Mirrorme
- SmartMirror.com
- Oak Labs Inc.
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