Smart Mirror Market Exhibiting a Growth Rate (CAGR) of 11.75% during 2022-2027 | Archello, Dension Ltd, Electric Mirror

According to IMARC Group's latest report, titled "Smart Mirror Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027", the global smart mirror market size reached US$ 2.4 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 4.7 Billion by 2027, exhibiting a growth rate (CAGR) of 11.75% during 2022-2027.

Market Overview:

A smart mirror is a digital device equipped with advanced sensors, electronic displays, cameras, and connectivity systems. The two-way mirror is also equipped with Bluetooth, internet, Wi-Fi, and touchscreen capabilities to receive phone calls, provide an interactive user experience, and access smartphone applications. The mirrors are backed with an in-built light-emitting diode (LED) with warmth functions and adjustable color to provide optimal lighting as per the user's requirement. They also have self-cleaning, self-dimming, and self-repairing capabilities, due to which they are extensively used across the advertising, automotive, retail, healthcare, and residential sectors. 

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Market Trends:

The rapid digitization in the retail industry and the development of smart mirrors integrated with the internet of things (IoT) and artificial intelligence (AI) solutions are driving the market growth. Moreover, the increasing demand for smart mirrors across the automotive industry is another growth-inducing factor. Smart mirrors are installed in passenger and light commercial vehicles to provide blind spot vision and enhance the safety of the passenger and the driver. Apart from this, the surging consumer expenditure power and rapid digitization across the retail industry are creating a positive outlook for market growth. Other factors, such as the growing investments in research and development (R&D) activities and the increasing product recognition among consumers, are bolstering the market growth.

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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

Competitive Landscape with Key Players:

Archello
Dension Ltd
Electric Mirror Inc.
Ficosa International SA
Panasonic Corporation
Gentex Corporation
Japan Display Inc.
Magna International Inc.
Murakami Corporation
Samsung Electronics Co. Ltd
Seura

Breakup by Component:

Hardware
Software

Breakup by Type:

Interior Mirrors
Exterior Mirrors 

Breakup by Functionality:

Connected Mirror
Non-Connected Mirror 

Breakup by Technology:

Self-Dimming
Self-Cleaning
Self-Repairing

Breakup by End User:

Automotive
Healthcare
Residential
Others

Breakup by Region:

North America (United States, Canada)
Europe (Germany, France, United Kingdom, Italy, Spain, Others)
Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Others)

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Key highlights of the report:                                                           

Market Performance (2016-2021)
Market Outlook (2022-2027)
Market Trends
Market Drivers and Success Factors
The Impact of COVID-19 on the Global Market
Value Chain Analysis
Structure of the Global Market
Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

Contact Us:

IMARC Group
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About Us: 

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

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