[Latest] Global Smart Mirror Market Size/Share Worth USD 7300 Million by 2028 at a 11% CAGR: Zion Market Research (Industrial Trends, Report, Analysis, Players, Outlook, Forecast, Growth, Value, Segmentation)

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NEW YORK, United States, April 20, 2023 (GLOBE NEWSWIRE) — Zion Market Research has published a new research report titled “Global Smart Mirror Market By Component (Services, Software, And Hardware), By Type (Interior Mirror And Exterior Mirror), By Technology (Embedded Technology And Smart Material), By Augmented Reality Feature (AR-Smart Mirror And Non-AR-Smart Mirror), By End-User (Automotive, Healthcare, Consumers, And Others) And By Region – Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2022 – 2028” in its research database.

“According to the latest research study, the demand of global Smart Mirror Market size & share in terms of revenue was valued at USD 3441 million in 2021 and it is expected to surpass around USD 7300 million mark by 2028, growing at a compound annual growth rate (CAGR) of approximately 11% during the forecast period 2022 to 2028.”

What is Smart Mirror? How big is the Smart Mirror Industry?

Smart Mirror Market Overview:

A smart mirror is essentially a component used in a variety of sensors, cameras, and technical tools. This component is used by numerous industries, including retail, technology, and mostly the automobile sector. According to reports, smart mirrors are a popular household item that may be used to recognize customers, learn about their buying preferences, and identify their patterns.

These mirrors are typically found in cars as side-view or rear-view mirrors that show the flow of traffic in particular directions. They are widely used in the fashion and retail sectors to present people wearing their preferred attire.

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Global Smart Mirror Market: Growth Dynamics

• Rise of many companies with multiple smart mirror utilities globally to drive market growth

Because of their plethora of benefits in all recently growing businesses and industries, smart mirrors have a bright future in the worldwide market. The mirror’s ability to recognize and record identifying information for every item is built into its design and manufacturing. They are designed with a foundational framework that can identify patterns and present outcomes depending on those patterns. The security foundation in the smart mirrors is also very carefully built to preserve the data of various objects. The mirror is a useful component for a variety of businesses and company domains that are emerging in the present generation thanks to all these qualifications. The global market value of smart mirrors is increased by the expanding uses of artificial intelligence and augmented reality in numerous digital industries.

Companies are now putting a lot of effort into creating cutting-edge smart mirror systems to meet the expanding consumer demand for smart homes. For instance, at CES Innovation 2020 in January 2020, Kohler Co., a world leader in the development of a cutting-edge kitchen and bath products, unveiled a wide range of innovative bathroom products, including the Moxie showerhead, smart grooming mirror, new touchless toilet technology system, smart speaker, and shower mode system.

• High price for the device implementation and reduction of confidentiality in retail may hamper market growth

However, it is projected that the smart mirror’s greater price will reduce demand from the population’s low-income segment. Additionally, it is anticipated that the widespread availability of other goods that may fulfill the same function, such as projection screens, blackboards, etc., will reduce demand for smart mirrors among educational institutions and corporate offices.

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Report Scope

Smart Mirror Market: Segmentation Analysis

The global Smart Mirrors market is segmented based on product, distribution channel, and region.

The global smart mirror market is divided into touch screen products and non-touch screen products based on the kind of product. Due to its increased usability and higher pricing of smart touch-screen based mirrors, the touch screen sector is anticipated to hold a sizeable portion of the market, generating larger revenues. Additionally, segmental growth is being fueled by the increasing usage of smart electronic gadgets among the world’s population.

The global smart mirror market is divided into offline and online segments based on the distribution channel. Since customers can select a smart mirror in-person from a selection of other highly functional mirrors at such locations, the offline segment is anticipated to account for a sizable portion of the market. Customers also choose to purchase these gadgets from physical stores in large part because the salespeople there can provide them with essential product knowledge.

The global smart mirror market is segmented as follows:

By Component

• Services
• Software
• Hardware

By Technology

• Embedded technology
• Smart material

By Augmented reality feature

• AR-Smart Mirror
• Non-AR-smart Mirror

By End-use

• Automotive
• Healthcare
• Consumers
• Others

Browse the full “Smart Mirror Market By Component (Services, Software, And Hardware), By Type (Interior Mirror And Exterior Mirror), By Technology (Embedded Technology And Smart Material), By Augmented Reality Feature (AR-Smart Mirror And Non-AR-Smart Mirror), By End-User (Automotive, Healthcare, Consumers, And Others) And By Region – Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2022 – 2028.”- Report at https://www.zionmarketresearch.com/report/smart-mirror-market

Competitive Landscape

Some of the main competitors dominating the global smart mirror market include – 

• Archello
• Gentex Corporation.
• Magna International Inc.
• Pro Display.
• Evervue.
• Séura.
• Alke.
• ad notam AG.
• Tech2o.
• Samsung Electronics Co., Ltd.
• Others    

 Key Insights from Primary Research:

• According to the analysis shared by our research forecaster, the smart mirror market is likely to expand at a CAGR of around 11% during the forecast period (2022-2028).
• In terms of revenue, the smart mirror market size was valued at around US$ 3441 million in 2022 and is projected to reach US$ 7300 million by 2028.
• The global market of smart mirrors has a prospective high growth because of its barrage of utilities in all newly emerging companies and business fields.
• Based on type of product, the touch screen sector is anticipated to hold a sizeable portion of the market.
• Based on distribution channel segmentation, the offline segment is anticipated to account for a sizable portion of the market.
• On the basis of region, the “Europe” region is predicted to be leading revenue generator during the forecast period.

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Key questions answered in this report:

• What is the market size and growth rate forecast for Smart Mirror industry?
• What are the main driving factors propelling the Smart Mirror Market forward?
• What are the leading companies in the Smart Mirror Industry?
• What segments does the Smart Mirror Market cover?
• How can I receive a free copy of the Smart Mirror Market sample report and company profiles?

Key Offerings:

• Market Size & Forecast by Revenue | 2022−2028
• Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
• Market Segmentation – A detailed analysis by Component, Technology, Augmented Reality Feature, End-use and Region
• Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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Regional Analysis:

The global smart mirror market is predicted to be led by Europe during the forecast period. The greatest portion of the European region is ascribed to the presence of the population’s higher income group, which leads to the region’s high consumption of such smart devices. Further encouraging market expansion in the region is the increased use of smart mirror systems by retail establishments for the provision of an effective user interface to store visitors in nations like the U.K. and Italy.

For instance, a U.S.-based financial services company called Mastercard Incorporated introduced a smart mirror system for retail businesses in the U.K. in June 2018 to make it easier for customers to identify products and make payments at the stores.

By Region

• North America
  • U.S.
  • Canada
  • Rest of North America
• Europe
  • France
  • UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

Recent Developments

• On June 2020, in order to offer members of the household on-demand fitness training sessions based on wall mounted mirror technology, Lululemon Athletica, a Canadian apparel brand, bought the in-home fitness startup MIRROR.

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