Press release
Global Smart Mirror Market Projected to Grow at 13.3% CAGR, Reaching $6.86 Billion by 2029
Smart Mirror Market
What Will the Smart Mirror Industry Market Size Be by 2025?
In recent times, the smart mirror market size has experienced significant growth. It is projected to expand from $3.67 billion in 2024 to $4.17 billion in 2025, growing at a compound annual growth rate (CAGR) of 13.5%. The growth observed in the past is linked to vanity and grooming trends, advancements in retail and fitting room experiences, the rise of augmented reality (AR) and virtual reality (VR), the embrace of smart home technologies, and applications in the retail and fashion sector.
What's the Long-Term Growth Forecast for the Smart Mirror Market Size Through 2029?
In the ensuing years, the smart mirror market is projected to experience swift expansion, with a forecasted growth to $6.86 billion by 2029 and a CAGR of 13.3%. Its boom during the anticipated period is due to factors such as tailor-made shopping experiences using smart mirrors, utilization of smart mirrors for fitness and wellness tracking at home, AI's integration for virtual trials, worldwide proliferation of smart home technology, applications in healthcare and telehealth, as well as makeup and beauty guidance using augmented reality.
Highlighted trends for the imminent period involve smart mirrors equipped with AI fashion consultants, the use of biometric and facial identification for customization, interactive fitness and exercise mirrors, smart mirrors used for skin health and diagnostics, as well as integration of AR and VR for immersive experiences, and the emergence of eco-friendly and sustainable materials for smart mirrors.
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What Are the Key Growth Drivers Fueling the Smart Mirror Market Expansion?
The proliferation of connected devices is predicted to fuel the expansion of the smart mirrors market. As technology has evolved, consumers have shown interest in exploring the benefits of incorporating more devices into the internet and how this might enhance their lifestyles. This surge in demand for connected devices is set to both boost the need for smart mirrors and augment their capabilities and features. As per the German-based IoT market research and strategic business intelligence firm, IoT Analytics, the number of active internet of things connections is projected to rise to 14.4 billion in 2022, up from 12.3 billion in 2021. Consequently, this substantial demand for connected devices is driving the growth of the smart mirrors market.
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What Are the Key Trends Driving Smart Mirror Market Growth?
The upward trend of technological progression is becoming increasingly recognized within the smart mirror market. Large-scale enterprises in this sector are making headway with their high-tech developments, incorporating features such as fitness into their product line. For instance, Portl, a smart home mirror firm based in India, unveiled its smart mirror in the country in July 2022. The innovative fitness mirror features interactive capabilities with Wi-Fi, Bluetooth connectivity, HD cameras, and edge AI processing. These intuitive sensors instantaneously rectify a user's posture and form. Thus, as an individual exercises in front of the smart mirror, their posture is effortlessly adjusted.
How Is the Smart Mirror Market Segmented?
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 Applications
Subsegments:
1) By Hardware: Display Panels, Sensors, Camera Systems
2) By Software: Operating Systems, Custom Apps, User Interface Software
3) By Services: Installation Services, Maintenance and Support Services, Subscription Services
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Which Companies Are Leading the Charge in Smart Mirror Market Innovation?
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), Oak Labs, Panasonic Corporation, 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
Which Regions Are Leading the Global Smart Mirror Market in Revenue?
Asia-Pacific was the largest region in the smart mirror market in 2024. The regions covered in the smart mirror market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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