Global Smart Mirror Market 2023-2030

Global Smart Mirror Market 2023-2030

Global Smart Mirror Market Size, Share & Trends Analysis Report by Product Type (Touch screen and Without Touch Screen), by Augmented Reality (AR) Feature (AR-Smart Mirror and Non AR-Smart Mirror), by Technology (Smart Material and Embedded Technologies), and by Application (Automotive, Residential, Healthcare, and Others), Forecast Period (2023-2030)

The global smart mirror market is anticipated to grow at a CAGR of 30.1% during the forecast period (2023-2030). Homeowners are increasingly showing interest in smart mirrors owing to their innovative design and capacity to enhance the functionality and aesthetics of living spaces. The rising demand for smart home solutions plays a significant role in driving the growth of the smart mirror market in the residential sector. As more homeowners adopt the idea of automated systems and connected gadgets, smart mirrors have become an integral part of smart homes. For instance, in May 2022, H&M installed freestanding smart mirrors in the changing rooms and sales floor of its COS Beverly Hills shop in California. The purpose behind this implementation was to provide with customers interactive design advice and virtual try-on experiences Satisfied with the response, the retailer plans to expand this technology to more locations nationwide, showcasing the increasing significance of smart mirrors in enhancing the retail experience.

Segmental Outlook

The global smart mirror market is segmented by product type, AR feature, technology, and application. Based on the product type, the market is sub-segmented into touch screen and without touch screen. Based on the augmented reality feature, the market is sub-segmented into AR-smart mirrors and non-AR-smart mirrors. Based on the technology, the market is sub-segmented into smart materials (glass, acrylic), embedded technologies, and Further, on the basis of application, the market is sub-segmented into automotive, residential, healthcare, and others (retailing and marketing). Among the product types, the touch screen sub-segment is anticipated to hold a considerable share of the market owing to the rise in the development of engaging and innovative techniques. For the development of smart mirror technologies, three components are generally used: a two-way glass, a display, and a computer device.

The Automotive Sub-Segment is Anticipated to Hold a Considerable Share of the Global Smart Mirror Market

Among the application, the automotive sub-segment is expected to hold a considerable share of the global smart mirror market. The segmental growth is attributed to the growing influence of an extensive vehicle accessory program that provides their customers with a comprehensive range of optional content. For instance, the auto-dimming rearview mirror provides enhanced safety when driving at night. It is composed of a mirror component and an electronic system that uses photo sensors to detect light coming from the front and back. For instance, in May 2021, Gentex Corp. started shipping a Bluetooth-enabled automatic-dimming mirror with HomeLink integrated buttons to Volkswagen (VWoA). This mirror allows users to control various radio frequency (RF) and cloud-based smart home appliances. It also enables individual cloud-based smart home devices to be configured for user control, as well as full home automation workflows.

Regional Outlook

The global smart mirror market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia), and the Rest of the World (the Middle East & Africa, and Latin America. Among these, North America is anticipated to hold a prominent share of the market across the globe, owing to the high concentration of the market solution vendors including MirroCool, Evervue USA Inc., HILO Smart Mirror and others.

Global Smart Mirror Market Growth by Region 2023-2030

Source: OMR Analysis

The Asia-Pacific Region is Expected to Grow at a Significant CAGR in the Global Smart Mirror Market

Among all regions, the Asia-Pacific regions is anticipated to grow at a considerable CAGR over the forecast period. Smart mirror producers offers a variety of models with various sizes, styles, and extra features, including LED illumination, demister pads, Bluetooth connectivity, and built-in music systems which is the major factor supporting the market growth. This diverse range of options is a major factor supporting the market's growth as customers can now choose a smart mirror that meets their unique requirements and preferences.

The increased demand for automotive applications based on smart mirrors in the Asia-Pacific region is driven by the growing number of automotive units being consumed in countries such as China and India. Moreover, The Asia-Pacific smart mirror market is expanding due to the substantial presence of key manufacturers and advancements in technology in nations like China, Japan, and South Korea. These countries are renowned for their technological and electronic innovation, enabling the creation and implementation of innovative smart mirror solutions. India's startup scene for smart mirrors is characterized by a dynamic ecosystem that is continually evolving. Companies here are utilizing technology to develop fresh and interesting customer experiences across various industries. In Australia, there is a greater emphasis on smart homes and the integration of more gadgets and technologies, providing greater interoperability and customization choices. This focus on smart homes is positively impacting the market for smart mirrors in the region.

Market Players Outlook

The major companies serving the smart mirror market include actiMirror Corp. Ltd., Ficosa Internacional SA, Denison Glass & Mirror, Inc., HILO Smart Mirror, Glance Displays, Inc. and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in February 2022, Revieve®, a company that creates personalized digital brand experiences for global brands, retailers, and digital service providers in the beauty, skin, health, and wellness sectors, recently announced a partnership with actiMirror, a provider of real-time personalized consumer experiences through AI-powered smart mirrors.

The Report Covers

Market value data analysis of 2022 and forecast to 2030.

Annualized market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions.

Key companies operating in the global smart mirror market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

Analysis of market-entry and market expansion strategies.

Competitive strategies by identifying ‘who-stands-where’ in the market.