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Smart Mirror Market Size

Report ID: GMI6017
Published Date: Feb 2024
Report Format: PDF

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Smart Mirror Market Size

Smart Mirror Market size was valued at USD 2 million in 2023 and is estimated to register a CAGR of over 10.1% between 2024 and 2032. The market expansion has been significantly influenced by the growing popularity of Artificial Intelligence (AI) and virtual assistant technologies that allow the control of bathroom products.

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Within a smart home environment, smart mirrors can be easily integrated with other smart systems and gadgets. They are a useful addition to smart homes as they can function as control centers, showing information, sending out notifications, and easing communication with other smart equipment. Voice assistants, such as Alexa or Google Assistant, as well as streaming services for music and entertainment including Netflix can be easily integrated with smart mirrors. Smart mirrors also enable the virtual try-on of clothing, jewelry, and makeup, providing consumers a more engaging shopping experience. Therefore, they are becoming more common in the retail industry.

Smart Mirror Market Report Attributes
Report Attribute	Details
Base Year:	2023
Smart Mirror Market Size in 2023:	USD 1.71 Billion
Forecast Period:	2024 - 2032
Forecast Period 2024 - 2032 CAGR:	10.1%
2032 Value Projection:	USD 4.39 Billion
Historical Data for:	2018 - 2023
No. of Pages:	161
Tables, Charts & Figures:	212
Segments covered:	Component, Application, Distribution Channel, Region
Growth Drivers:	Integration of AI and IoT in smart mirrors Growing demand for technological advancements in the hospitality and retail sectors Rising interest in smart home technologies Advancements in display technologies
Pitfalls & Challenges:	Privacy and security concerns High installation and maintenance costs

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Cameras or Additional sensors on smart mirrors can collect personal data, which is a serious privacy risk. If sufficient security measures are not taken, there is a risk of hacking or access to private information. Since implementing the mirror is a complex procedure, people with no technical expertise have trouble establishing and connecting smart mirrors with other smart devices. Furthermore, smart mirrors tend to be more expensive than ordinary mirrors, thereby hampering market expansion.

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

Smart mirror industry was worth USD 1.71 million in revenue in 2023 and is estimated to expand at over 10.1% CAGR between 2024 – 2032 owing to the growing popularity of AI and virtual assistant technologies that allow the control of bathroom products.

The hardware segment was USD 1 billion in 2023 and is projected to record substantial growth by 2032 owing to the latest display technologies, such as OLED and high-resolution LCD to enhance aesthetic appeal and visual quality.

North America smart mirror market generated USD 570 million in revenue in 2023 and is estimated to exhibit robust growth through 2032 owing to the growing consumer preference for smart home automation in region.

Some of the top companies engaged in the market are AD Natom AG, Avis Electronics Corporation, Dension Evervue, Electric Mirror, Inc, Ficoca International SA, Gentex Corporation, Harman International Industries, Keonn Technologies SL, Kohler Company, LumiDesign, Magna International, Secura, and Videotree.