The latest report by IMARC Group, titled "Smart Mirror Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028," finds that the global smart mirror market size reached US$ 2.7 Billion in 2022. A smart mirror is a two-way digital mirror integrated with advanced cameras, electronic displays, sensors, and connectivity systems. It is equipped with internet, Bluetooth, Wi-Fi connectivity, and touchscreen capabilities to access smartphone applications, receive phone calls, and provide the user with an interactive experience. It also includes built-in light-emitting diode (LED) lights with adjustable color functions to provide optimal lighting as per the user's requirement. Owing to these properties, smart mirrors find extensive applications across automotive, advertising, retail, residential, and healthcare industries.
Global Smart Mirror Market Trends:
The market is primarily driven by the expanding automotive industry. Smart mirrors are widely used in vehicles with advanced driver assistance systems (ADAS) to enhance the safety of the driver and the passengers. In addition, rapid digitization across the retail sector represents another major growth-inducing factor. Besides this, various technological advancements, such as the introduction of smart mirrors equipped with the Internet of Things (IoT) and artificial intelligence (AI) solutions, are also propelling market growth. Moreover, the rising disposable incomes of the consumers, extensive research and development (R&D) activities conducted by key players, and the rising product adoption by fashion brands in fitting rooms to provide a 360-degree view of the outfit are some of the other factors creating a positive market outlook across the globe. Looking forward, IMARC Group expects the market to reach a value of US$ 5.2 Billion by 2028, exhibiting a CAGR of 11.7% during the forecast period (2023-2028).
- Based on the component, the market has been categorized into hardware and software.
- On the basis of the type, the market has been classified into interior and exterior mirrors.
- Based on the functionality, the market has been bifurcated into connected and non-connected mirrors.
- On the basis of technology, the market has been segmented into self-dimming, self-cleaning, and self-repairing.
- Based on the end user, the market has been segregated into automotive, healthcare, residential, and others.
- Region-wise, the market has been divided into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has been examined in the report, with some of the key players being Archello, Dension Ltd, Electric Mirror Inc., Ficosa International SA (Panasonic Corporation), Gentex Corporation, Japan Display Inc., Magna International Inc., Murakami Corporation, Samsung Electronics Co. Ltd and Seura.
|Base Year of the Analysis
||Component, Type, Functionality, Technology, End User, Region
||Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Archello, Dension Ltd, Electric Mirror Inc., Ficosa International SA (Panasonic Corporation), Gentex Corporation, Japan Display Inc., Magna International Inc., Murakami Corporation, Samsung Electronics Co. Ltd and Seura
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