Press release
Smart Mirror Global Market Set to Skyrocket to $6.21 Billion By 2032 with an Impressive CAGR 13.6% | Perseus Mirrors, Electric mirror Inc., Japan Display Inc., Magic Fitness, Fiture Holding LLC.
Smart Mirror Global Market
The Business Research Company offers in-depth market insights through Smart Mirror Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The smart mirror market size has grown rapidly in recent years. It will grow from $3.26 billion in 2023 to $3.73 billion in 2024 at a compound annual growth rate (CAGR) of 14.3%. The growth in the historic period can be attributed to vanity and grooming trends, retail and fitting room experiences, growth in augmented reality (ar) and virtual reality (vr), adoption of smart home technology, retail and fashion industry applications..
The smart mirror market size is expected to see rapid growth in the next few years. It will grow to $6.21 billion in 2028 at a compound annual growth rate (CAGR) of 13.6%. The growth in the forecast period can be attributed to personalized shopping experiences with smart mirrors, fitness and wellness monitoring in home mirrors, integration of ai for virtual try-ons, global expansion of smart home technology, healthcare and telehealth applications, augmented reality makeup and beauty guidance.. Major trends in the forecast period include smart mirrors with ai fashion stylists, biometric and facial recognition for personalization, interactive fitness and workout mirrors, smart mirrors for skin health and diagnostics, ar and vr integration for immersive experiences, eco-friendly and sustainable smart mirror materials..
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Market Segmentation:
The smart mirror market covered in this report is segmented -
1) By Component: Hardware, Software, Services
2) By Type: Exterior Mirror, Interior Mirror
3) By Functionality: Connected, Non-Connected
4) By Feature: AR-Smart Mirror, Non AR-Smart Mirror
5) By Application: Automotive, Healthcare, Retail And Marketing, Consumer, Other Appplications
Major Driver - Rising Demand For Connected Devices Fuels Growth In The Smart Mirrors Market
The high demand for connected devices is expected to propel the growth of the smart mirrors market. Consumers have been keen to investigate the advantages of adding additional devices to the internet and how that may enhance their lives as technology has developed. The increasing demand for connected devices will increase the demand for smart mirrors and also improve functionality and features. According to IoT Analytics, a German-based Internet of Things (IoT) market insights and strategic business intelligence, in 2022, the internet of things is expected to grow to 14.4 billion active connections from 12.3 billion in 2021. Therefore, the high demand for connected devices drives the growth of smart mirrors.
Competitive Landscape:
Major companies operating in the smart mirror market include Perseus Mirrors, Samsung Electronics Co. Ltd., Electric mirror Inc., Japan Dsiplay Inc., Magna International Inc., Ficosa Internacional SA, Blickfeld GmbH, Magic Fitness, Fiture Holding LLC., Mirror (Vaurum Labs), Arecor Ltd plc., Avegant Corp., Oak Labs, Dension Ltd., Panasonic Corporation, Space Micro Inc., Fusion Processing, PsyOmics Ltd., Gentex Corporation, Portl Technologies, Vercon Smart Mirror Factory, Murakami Kaimeido Kyushu Corp., Seura Solutions LLC., HiMirror Inc., MirroCool Inc., HILO Smart Mirror Inc., Memomi Labs Inc., Perch Interactive Inc., SmartSpot Inc., Smart Mirrors Solutions LLC
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Top Trend - Technological Advancements And Integration Of Fitness Capabilities Drive Innovation In The Smart Mirror Market
Technological advancement is a key trend gaining popularity in the smart mirror market. Major companies in the smart mirror market are advancing in their advanced technologies and integrating options such as fitness into their products. For instance, in July 2022, Portl, an India-based intelligent home mirror company, launched a smart mirror in India. The smart fitness mirror has an interactive fitness mirror with Wi-Fi, BlueTooth connectivity, HD cameras, and edge AI processing. These sensors instantly correct a user's posture and shape. This indicates that the individual's posture is adjusted when they perform their workouts in front of the smart mirror.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Smart Mirror Market Characteristics
3. Smart Mirror Market Trends And Strategies
4. Smart Mirror Market - Macro Economic Scenario
5. Smart Mirror Market Size And Growth
…..
27. Smart Mirror Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology.
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