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Home ➤ Building and Construction ➤ Residential Construction and Improvement ➤ Smart Mirror Market
Smart Mirror Market
Smart Mirror Market
Published date: Oct 2023 • Formats:
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  • Home ➤ Building and Construction ➤ Residential Construction and Improvement ➤ Smart Mirror Market

Global Smart Mirror Market By Component (Hardware, Software, and Services), Product Type (Touch Screen and Without Touch Screen), By Application (Automotive, Residential, Healthcare, and Others), and By Distribution Channel (Offline and Online), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, and Forecast 2023-2032

  • Published date: Oct 2023
  • Report ID: 26322
  • Number of Pages: 208
  • Format:
  • Overview
  • Table of Contents
  • Major Market Players
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  • Quick Navigation

    • Report Overview
    • Key Takeaways
    • Market Scope
    • Key Market Segments
    • Drivers
    • Restraints
    • Opportunity
    • Trends
    • Regional Analysis
    • Key Players Analysis
    • Recent Developments
    • Report Scope

    Report Overview

    The Global Smart Mirror Market size was valued at USD 3.8 Billion in 2022 and is expected to reach USD 9.1 Billion in 2032 growing at a CAGR of 9.4% during the forecast period of 2023-2032.

    Smart mirrors, also called communicating mirrors, interactive mirror TVs, and fully automatic magic mirrors, are facing rapid growth due to the improved demand for smart mirrors in global commercial places and corporate offices.

    The rising use of smart mirrors in the wholesale market to increase client knowledge is helping to market growth. This emerging trend is anticipated to boost product demand through the smart mirror market forecast period.

    The major companies have also been growing their product ranges by including new and new products to gain maximum industry share.

    The government’s strict guidelines for equipping existing buildings with energy-saving and green technologies will also help to increase the adoption rate of switchable glasses.

    Smart Mirror Market

    Key Takeaways

    • Market Size and Growth: The Smart Mirror Market was valued at USD 3.8 billion in 2022 and is projected to reach USD 9.1 billion by 2032, growing at a Compound Annual Growth Rate (CAGR) of 9.4% during the forecast period.
    • Components: The software segment dominated the Smart Mirror Market during the forecast period. Smart mirrors offer features like face recognition and voice control, contributing to their growth.
    • Product Types: Touchscreen smart mirrors were the dominant product type in the market due to their efficiency and affordability compared to non-touchscreen mirrors.
    • Applications: The automotive sector played a significant role in boosting the Smart Mirror Market. Smart mirrors are increasingly used in vehicles, equipped with high-resolution cameras and LCD monitors to enhance road safety.
    • Distribution Channels: Offline stores were preferred by consumers, as they could get essential product information from sales agents. This channel dominated the market.
    • Drivers: The increasing demand for smart mirrors in the automotive industry was a major driver, with smart mirrors becoming a key feature in modern vehicles.
    • Restraints: The high cost of smart mirrors limited their adoption. Factors like material costs, installation costs, and specialized treatment for disposal contributed to the higher overall cost.
    • Opportunities: The market saw an increase in the number of startups and novel companies entering the Smart Mirror Market. They focus on R&D to create innovative products and adapt smart mirrors to customer requirements.
    • Trends: The acceptance of SPD (Suspended Particle Device) glass in aerospace manufacturing was a growing trend, as larger mirrors provided passengers with enhanced functionality and control.
    • Regional Analysis: North America held a leading share in the market (over 32.5%) due to the availability of effective products and energy conservation rules. Asia-Pacific is expected to grow at a CAGR of over 10.2%, driven by the demand for high-end automobiles and energy-efficient air conditioners.
    • Key Players: Prominent companies like Samsung Electronics, Ficosa, Japan Display Inc., and others are focusing on product innovation and partnerships with end-users to maintain their market positions.

    Market Scope

    Component Analysis

    Software Segment Dominated The Global Smart Mirror Market During The Forecast Period.

    Based on components, the global smart mirror market is segmented into hardware, software, and services. The software segment is growing with a high CAGR throughout the forecasted period. The technology-developed smart mirror deals with various profits as it introduces software for various intelligent operations.

    They are mainly for personal assistants providing essential and on-time information. Also contains a face recognition system and voice control facility, which can give an efficient line for the advanced fashion and emerging cosmetics industries.

    Product Type Analysis

    Touch Screen Segment Dominated The Market Due to Its Efficiency And Better Results

    Based on product type, the global smart mirror market is segmented into touch screen and without touch screen mirrors. The touchscreen segment is projected to hold an important share of the market due to its better efficacy and cheaper prices than touch-screen-based mirrors, which affects the larger income segment.

    Also, the increasing acceptance of smart electronic devices among the worldwide population is more helpful to segmental growth. As a result, it is anticipated that the smart mirror market will expand significantly between 2023 and 2032.

    Application Analysis

    The Automotive Segment Boosted The Global Smart Mirror Market During The Forecast Period

    By the application of global smart mirror market analysis is segmented, such as automotive, healthcare, residential, and others. The automotive segment has led the market by gaining the largest smart mirror market share.

    Global demand for smart mirrors is rising in automotive production worldwide, with the potential applications of these mirrors in various types of vehicles. Combined with the high-resolution digital camera & LCD Monitor manufactured internally, the cars can help drivers see the traffic from both sides. Therefore, accidents on the roads can be controlled and escaped.

    Distribution Analysis

    The Offline Store Is More Acceptable And Dominated The Global Smart Mirror Market

    By the distribution channel, the global smart mirror market is segmented as offline and online distribution. The offline segment will dominate the market with a major share during the forecasted period.

    Consumers can select a smart mirror from a variety of new, highly performed mirrors at such stores. Also, customers mainly decide to purchase such devices from offline stores as they can get essential product information from the sales agents at such stores.

    Smart Mirror Market Size

    Key Market Segments

    By Component

    • Hardware
    • Software
    • Services

    By Product Type

    • Touch Screen
    • Without Touch Screen

    By Application

    • Automotive
    • Residential
    • Healthcare
    • Other Applications

    By Distribution Channel

    • Offline
    • Online

    Drivers

    Increasing Demand Of Smart Mirror In the Automotive Industry Help To Drive The Global Market

    Smart mirrors are a highly acceptable and emerging technology nowadays, and it affected automotive vehicle manufacturing also, such as the increase in the number of tourist activities worldwide has added to a rise in the demand for automobiles with smart window panels and sunroofs, which allow passengers to take in the scenic beauty from the comfort of the vehicle.

    The market is expected to grow during the forecast period due to the increasing demand for smart glass mirrors for automotive glass panels.

    Restraints

    High Cost of Smart Mirror to Limit its Adoption

    The material cost, installation costs, electricity costs, and functional features, such as control latency, transparency differential, and dimming capabilities, all play a role in responsible the general cost of a smart mirror. This mirror costs a lot more than a regular mirror because of these high costs.

    Also, using rare chemicals and electronic systems necessitates specialized treatment procedures for the disposal of mirror panels, further driving up the final cost. Because of these factors, manufacturers of switchable mirrors find it difficult to list the customers’ benefits and attractive returns on investment when using them.

    Opportunity

    Increasing Number Of Startups And Novel Companies In The Global Smart Mirror Market

    The global market for smart mirrors is comparatively a novel technology which is many startup corporations are arriving in the market with an advanced product. Those novel companies are seriously financing the R&D to create the original product to improve the clients’ overall understanding. They also adapt their smart mirrors as per client requirements, which is probable to deliver new opportunities in the future.

    Increasing R&D efforts

    The Increasing R&D efforts have helped to potential applications for smart mirrors in different other markets. Smart mirrors may increase operational efficiency by 20 to 30 percent. Also, it is frequently used as a privacy mirror in the inner barriers of fighter jets, airplanes, and cruise ships. This factor is anticipated to open up attractive market potential and increase sales of smart mirrors across many end-use industries.

    Trends

    Acceptance Of SPD Glass In The Aerospace Manufacturing Growing Market Trend In Recent Years

    The Demand has been better due to aerospace manufacturing’s rapid growth. The use of larger mirrors, which would provide passengers with greater control and functionality, is being promoted by aircraft manufacturers. They are using these glasses, primarily SPD mirror glass. These mirrors provide a rapid and uniform response, excellent acoustic insulation, light control, and other essential characteristics for improving functions.

    Regional Analysis

    North America held a leading share in the smart mirrors market, with a revenue share above 32.5%. Due to the availability and affordability of effective products such as coated glazing and the making of drive conservation rules in the region. Local companies are offering products that meet consumer needs.

    Asia-Pacific is likely to grow at a CAGR of over 10.2%, with production in the region at the top CAGR. The growth of the area market is being helped by a rise in the demand for high-end automobiles and increased non-reusable income. Also, the acceptance of energy-efficient air conditioners is expected to be focused on the region’s rising awareness of energy saving.

    Smart Mirror Market Region

    Key Regions and Countries

    • North America
      • The US
      • Canada
      • Mexico
    • Western Europe
      • Germany
      • France
      • The UK
      • Spain
      • Italy
      • Portugal
      • Ireland
      • Austria
      • Switzerland
      • Benelux
      • Nordic
      • Rest of Western Europe
    • Eastern Europe
      • Russia
      • Poland
      • The Czech Republic
      • Greece
      • Rest of Eastern Europe
    • APAC
      • China
      • Japan
      • South Korea
      • India
      • Australia & New Zealand
      • Indonesia
      • Malaysia
      • Philippines
      • Singapore
      • Thailand
      • Vietnam
      • Rest of APAC
    • Latin America
      • Brazil
      • Colombia
      • Chile
      • Argentina
      • Costa Rica
      • Rest of Latin America
    • Middle East & Africa
      • Algeria
      • Egypt
      • Israel
      • Kuwait
      • Nigeria
      • Saudi Arabia
      • South Africa
      • Turkey
      • United Arab Emirates
      • Rest of MEA

    Key Players Analysis

    Product Innovation and Partnerships with End-Users

    Prominent Companies need to maintain their market position over product innovation and partnerships with end users. One of the most well-known businesses is Pleotint LLC. With 33 fabrication partners, the company operates in more than 36 nations and has completed more than 35 projects in various fields.

    Under the brand name “Suntuitive,” the company sells a variety of smart mirrors throughout the United States and has focused on the creation of products that control the transmission of solar light inside buildings.

    Market Key Players

    • Samsung Electronics
    • Ficosa
    • Japan Display Inc.
    • Keonn
    • Ad Notam
    • Seura
    • Perseus Mirrors
    • Magna International Inc.
    • Electric Mirror
    • Gentex
    • ALKE
    • Dension
    • Other Key Players

    Recent Developments

    • In July 2018, The company Japan Display Inc. declared the presentation of an IoT Mirror, which can transform to full size or part size and can mechanism via voice command to deliver information such as time, date, condition of weather, entire schedule, etc.
    • In March 2019, a Prominent firm called Ficosa declared business with the major player Panasonic to improve the smart rear-view mirror with the electric toll group for the new BMW X5 in country Japan.

    Report Scope

    Report Features Description
    Market Value (2022) USD 3.8 Bn
    Forecast Revenue (2032) USD  9.1 Bn
    CAGR (2023-2032)  9.4%
    Base Year for Estimation 2022
    Historic Period 2016-2022
    Forecast Period 2023-2032
    Report Coverage Revenue Forecast, Market Dynamics, COVID-19 Impact, Competitive Landscape, Recent Developments
    Segments Covered By Component- Hardware, Software, and Services); Product Type- Touch Screen, Without Touch Screen; By Application- Automotive, Residential, Healthcare, Others; and By Distribution Channel- Offline, Online
    Regional Analysis North America – The US, Canada, & Mexico; Western Europe – Germany, France, The UK, Spain, Italy, Portugal, Ireland, Austria, Switzerland, Benelux, Nordic, & Rest of Western Europe; Eastern Europe – Russia, Poland, The Czech Republic, Greece, & Rest of Eastern Europe; APAC – China, Japan, South Korea, India, Australia & New Zealand, Indonesia, Malaysia, Philippines, Singapore, Thailand, Vietnam, & Rest of APAC; Latin America – Brazil, Colombia, Chile, Argentina, Costa Rica, & Rest of Latin America; Middle East & Africa – Algeria, Egypt, Israel, Kuwait, Nigeria, Saudi Arabia, South Africa, Turkey, United Arab Emirates, & Rest of MEA
    Competitive Landscape Samsung Electronics, Ficosa, Japan Display Inc., Keonn, Ad Notam, Seura, Perseus Mirrors, Magna International Inc., Electric Mirror, Gentex, ALKE, Dension, Other Key Players
    Customization Scope Customization for segments, region/country-level will be provided. Moreover, additional customization can be done based on the requirements.
    Purchase Options We have three licenses to opt for: Single User License, Multi-User License (Up to 5 Users), Corporate Use License (Unlimited User and Printable PDF)

    Frequently Asked Questions (FAQ)

    What is the smart mirror market?

    The smart mirror market refers to the industry that produces and sells mirrors integrated with technology, allowing them to display information, provide interactive features, and connect to other devices.

    How big is the Smart Mirror Market?

    The global Smart Mirror Market size was estimated at USD 3.8 billion in 2022 and is expected to reach USD 9.1 billion in 2032.

    What is the Smart Mirror Market growth?

    The global Smart Mirror Market is expected to grow at a compound annual growth rate of 9.4%.

    Who are the key companies/players in the Smart Mirror Market?

    Some of the key players in the Smart Mirror Markets are Samsung Electronics, Ficosa, Japan Display Inc., Keonn, Ad Notam, Seura, Perseus Mirrors, Magna International Inc., Electric Mirror, Gentex, ALKE, Dension

    What are smart mirrors used for?

    Smart mirrors are used for a variety of purposes, including personal grooming, home automation, fitness tracking, entertainment, and information display. They combine the functionality of a mirror with smart technology features.

    How do smart mirrors work?

    Smart mirrors utilize a combination of reflective glass and display technology. They are equipped with sensors, cameras, and software that enable them to detect and respond to user interactions, display content, and connect to other devices through wireless connectivity.

    Smart Mirror Market
    Smart Mirror Market
    Published date: Oct 2023
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    • Samsung Electronics Co. Ltd Company Profile
    • Ficosa
    • Japan Display Inc. Company Profile
    • Keonn
    • Ad Notam
    • Seura
    • Perseus Mirrors
    • Magna International Inc.
    • Electric Mirror
    • Gentex
    • ALKE
    • Dension
    • Other Key Players
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