Smart Mirror Market: Global Size, Share, Trends, Growth and Forecast, 2022-2032
The Smart Mirror Market is forecasted to thrive at XX% CAGR to reach notable market value by the end of 2032. The smart mirror is an electronic device mirror and known as a magic mirror with several benefits. It covers a wide range of technologies including wireless sensor systems, AI (Artificial Intelligence), displays, touch capability, Wi-Fi connectivity, and GPS (Global Positioning System), mobile data acquisition, AR (augmented reality) and others technology. Smart mirror updates the information related to the weather report, calendar events, news, and social media notifications and others.
Growth Drivers & Restrain
A smart mirror is one of the very latest technologies for home automation and other areas such as hospitals, automotive, and others. The smart mirror is being used for security purposes, fast updating information related to navigation, calendar, weather report, stock reports, quotes, and others. These wide range of applications of smart mirrors are fueling the growth of the smart mirror market. Technology has become an everyday part of our lives as the growing adoption of smartphones with high speed of internet technologies such as 4G and LTE (long term evolution) and using home automation apps through voice recognition is boosting the market growth of smart mirror. Moreover, the acrylic smart mirror is made of very transparent glass, as acrylic glass provides a crystal-clear view of the text and graphics compared to a standard glass two-way mirror.
Additionally, the smart mirror has a number of applications such as in elevators, airports, hotels, office lobbies, public restrooms, and others. For instance, in January 2011, Clear Channel Airports (CCA) and Mirrus Corporation collaborated on a pilot program of deploying 150 smart mirrors with advertising displays in all restrooms at the Chicago O'Hare airport. Besides this, growing investment in R&D activities on smart mirrors and new technology innovation are the major factors driving the smart mirror market globally. Additionally, the smart mirror market is segmented based on application into automotive, hospitality, smart homes, and others. Among them, healthcare and automotive applications dominate the global smart mirror market. As in hospitals, the smart mirrors used for patient-specific information such as real-time human body statistics (heart rate, body temperature, and blood pressure) and prescription reminders is anticipated to drive the demand for the smart mirror market in near future. Besides this, these smart mirrors are also used in automotive with functionalities such as temperature display, navigation, turn signals, and others is one of the key elements which are propelling the growth of smart mirror market. In terms of region, the Europe region led the smart mirror market in terms of revenue. The presence of major automobile manufacturers such as Volkswagen, BMW, and Daimler are creating demand for smart mirrors in Europe.
Further, the availability of better technology infrastructure in Europe is also encouraging the demand for smart mirrors in European countries. However, the high initial cost of manufacturing and implementation of smart mirror devices are restraining revenue growth of the smart mirror market.
The research offers a comprehensive analysis of smart mirror market with respect to following sub-markets:
- Audio Systems
- Extension Cord
- Software Application
- Hidden Camera Recording
- Home Monitoring & Security
- Weather Condition
North America (U.S. & Canada)
Europe (Germany, United Kingdom, France, Italy, Spain, Russia and Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Indonesia, Taiwan, Australia, New Zealand and Rest of Asia Pacific)
Latin America (Brazil, Mexico, Argentina and Rest of Latin America)
Middle East & Africa (GCC, North Africa, South Africa and Rest of Middle East & Africa)
The report profiles various major market players such as,
- Gentex Corporation
- Magna International Inc
- Panasonic Corporation
- Seura Solutions
- Samsung Electronics
- Keonn Technologies
- Mirrus Corporation
- Pro Display
- Other Major & Niche Players
And by geography, SWOT Analysis, risk analysis, key facts, company overview, business strategy, key product offerings, marketing and distribution strategies, new product development, recent news (acquisition, expansion, technology development, research & development expansion and other market activities.
The study also provides company’s positioning and market share in smart mirror market.
Timeline Considered for Analysis:
- 2019: Base Year
- 2020: Estimated Year
- 2020 to 2025: Forecasted Year
Research Scope and Deliverables
Overview & Executive Summary
Market Drivers, Trends, Challenges and Opportunities
Market Size and Forecast Projections
Macroeconomic Indicators of Various Countries Impacting the Growth of the Market
Extensive Coverage of Industry Players including Recent Product Launches and Market Activities
Porter’s Five Force Analysis
Market Segmentation Analysis:
Industry report analyzes the smart mirror market by the following segments:
- By End-User
- By Component
- By Applications
Geographic Market Analysis:
The report offers separate analysis of North America, Europe, Asia Pacific, Latin America and Middle East & Africa. In addition, further breakdown of market data and analysis of region into countries is covered in the report.
Customization: We also offers customization’s in the industry report as per the company’s specific needs.
Key Questions Answered in the Smart Mirror Market Industry Report
- What is the overall market size in 2019? What will be the market growth during the forecast period i.e. 2020-2025?
- Which region would have high demand for product in the upcoming years?
- What are the factors driving the growth of the market?
- Which sub-market will make the most significant contribution to the market?
- What are the market opportunities for existing and entry-level players?
- What are various long-term and short-term strategies adopted by the market players?