What is the global market size of Smart Mirror Market?

Global Smart Mirror Market size was valued at USD 2.5 billion in 2021 and is poised to grow from USD 2.96 billion in 2022 to USD 6.25 billion by 2030, growing at a CAGR of 8.8% in the forecast period (2023-2030).

Smart Mirror Market Size, Share, Growth Analysis, By Application(Residential, Commercial and others), By Installation type(Wall mounted, freestanding and others), By Distribution channel(Online and offline), By Region - Industry Forecast 2024-2031

Q: Who are the key vendors in the Global Smart Mirror Market?

Competition in the global Smart Mirror market is expected to increase during the forecast period because new players are expected to enter the global market and the number of devices compatible with Smart Mirror will also increase. Currently, only a few key players are providing their services in the global market but these numbers will increase in the upcoming years. 'Gentex Corporation', 'Electric Mirror', 'Ficosa International', 'Seura', 'Magna International', 'Samsung Electronics', 'Pro Display', 'Evervue', 'Dension', 'Perseus Mirrors', 'MirroCool', 'Panasonic Corporation', 'Toshiba Corporation', 'Murakami Corporation', 'Dension', 'Memomi Labs Inc.', 'ACEPOM Technology', 'Mirrorme', 'SmartMirror.com', 'Oak Labs Inc.'

Q: Which region accounted for the largest share in Global Smart Mirror Market?

Globally, North America is estimated to hold the highest global Smart Mirror market share. Main factors during this growth period are the presence of top market players,Increasing the number of households coupled with the increasing number of manufacturers shifting preference towards healthy drinks,and others.

Report ID: SQMIG45I2077 | Region: Global | Published Date: July, 2024
Pages: 270 | Tables: 86 | Figures: 76

Smart Mirror Market Dynamics

Smart Mirror Market Drivers

Increased Usage of Advanced Driver Assistance System to Bolster Market Growth

One of the key features that aid drivers a better and safer driving experience to provide self dimming, secure driving environment, automatic brightness adjustment and self cleaning is Advanced Driver assistance system. Along with the ADAS system increasing demand for smart mirrors in the retail industries due to technological advancement in artificial intelligence, Gesture recognition technology, augmented reality and connected devices.

Smart Mirror Market Restraints

Concerns about Data Loss to Hinder Market Growth

Due to the high end components installed in smart mirrors such as sensors, camera connectivity, system display, the manufacturing and implementation cost of smart Mirror devices is relatively higher than the traditional Mirror. This integration of IoT and IT with household up plans lead to the increasing purchasing cost of smart mirrors.Therefore, along with increasing cost and loss of personal data in the smart mirror leads to the negative impact on the growth of the market.

Smart Mirror Market Report Snapshots

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Smart Mirror Market size was valued at USD 2.5 billion in 2019 and is poised to grow from USD 2.96 billion in 2023 to USD 6.25 billion by 2031, growing at a CAGR of 8.8% in the forecast period (2024-2031).

Competition in the Smart Mirror market is expected to increase during the forecast period because new players are expected to enter the market and the number of devices compatible with Smart Mirror will also increase. Currently, only a few key players are providing their services in the market but these numbers will increase in the upcoming years. 'Gentex Corporation', 'Electric Mirror', 'Ficosa International', 'Seura', 'Magna International', 'Samsung Electronics', 'Pro Display', 'Evervue', 'Dension', 'Perseus Mirrors', 'MirroCool', 'Panasonic Corporation', 'Toshiba Corporation', 'Murakami Corporation', 'Dension', 'Memomi Labs Inc.', 'ACEPOM Technology', 'Mirrorme', 'SmartMirror.com', 'Oak Labs Inc.'

One of the key features that aid drivers a better and safer driving experience to provide self dimming, secure driving environment, automatic brightness adjustment and self cleaning is Advanced Driver assistance system. Along with the ADAS system increasing demand for smart mirrors in the retail industries due to technological advancement in artificial intelligence, Gesture recognition technology, augmented reality and connected devices.

The convex mirror Is replaced with a traditional mirror to improve safety features in the car. South Korea is looking to inculcate a smart mirror that plays a vital role in comfort and safety while driving the cars. These mirrors are Electrochromic auto dimming mirrors which are used in high end vehicles that reduce driver eye strain and fatigue while improving the visibility in low light condition.The mirror supports the driver to make safe decisions while driving and provide safety in cars by offering the better rear View images.

Globally, North America is estimated to hold the highest Smart Mirror market share. Main factors during this growth period are the presence of top market players,Increasing the number of households coupled with the increasing number of manufacturers shifting preference towards healthy drinks,and others.

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Smart Mirror Market Size, Share, Growth Analysis, By Application(Residential, Commercial and others), By Installation type(Wall mounted, freestanding and others), By Distribution channel(Online and offline), By Region - Industry Forecast 2024-2031

Smart Mirror Market Dynamics

Smart Mirror Market Report Snapshots

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FAQs

What is the market size of Smart Mirror Market?

Who are the key vendors in the Smart Mirror Market?

What is the key driver of Smart Mirror Market?

What is the key market trend for Smart Mirror Market?

Which region accounted for the largest share in Smart Mirror Market?

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