Smart Mirror Market: Growth and Emerging Trends

Posted by Tom C on February 14th, 2023

Global Smart mirror market report share is projected to reach USD 5.9 billion by 2027, at a CAGR of 16.8% during the forecast period.

The market for smart mirrors is a quickly expanding business, driven by the rise in popularity of cutting-edge, technologically advanced home furnishings. Smart mirrors are a crucial part of smart homes since they integrate technologies like touchscreens, voice control, and integrated lighting in addition to offering more than simply a reflection.

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The rising popularity of home automation and smart home technologies is one of the major factors driving the market for smart mirrors.Smart mirrors can be incorporated into smart home systems, giving customers the ability to manage other connected devices from the mirror itself, including lighting, thermostats, and security systems.They are a handy addition to any home because they can be configured to show weather forecasts, news headlines, and other information.

The market for smart mirrors is expanding as a result of the growing use of these devices in the fashion and beauty sectors. Users use smart mirrors with augmented reality (AR) technology can try on virtual cosmetics or attire, creating a distinctive and engaging shopping experience. Smart mirrors can offer individualised exercises and health monitoring in the fitness and healthcare industries.

The market for smart mirrors is also gaining from the expansion of digital signage and display systems in the hospitality and retail sectors. Smart mirrors can be utilised in retail displays, restrooms, and hotel rooms to give consumers and visitors individualised information and amusement.

Geographically, the North American market for smart mirrors is the largest and expanding most quickly due to the rising use of smart home technologies and the presence of numerous significant players in the region. In the upcoming years, the Asia-Pacific area is anticipated to increase significantly due to the region's growing urbanisation and the desire for cutting-edge home décor products.

Perseus Mirrors, Samsung Electronics Co. Ltd., Electric Mirror, LLC, Gentex Corporation, and Ficosa Internacional SA are some of the major companies in the smart mirror business. To create new technology and remain competitive, these businesses make significant investments in R&D.

In general, the market for smart mirrors is anticipated to maintain its rapid expansion in the years to come, propelled by the rising demand for cutting-edge, technologically advanced home décor goods. It is anticipated that the popularity of smart home technology would increase along with the development of new technologies like augmented reality (AR) and voice control.