About Smart Mirrors
A smart mirror is a two-way mirror with an inbuilt display behind the glass. It can be customized to display local weather forecasts, news bulletins, upcoming calendar schedules, social media feeds, etc. The Smart Mirrors market is expected to grow in the future due to the increasing demand for the integration of smart mirrors in automobiles and the use of digital technology in the retail industry. Furthermore, the industry is being propelled forward by the growing trend of smart cities and smart homes. Various smart mirror manufacturers around the world are rapidly introducing new and revolutionary innovations in the smart mirror industry, boosting the smart mirror market.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The market is seeing fragmented market players, by seeing huge growth in this market the key leading vendors are highly focusing on the production technologies, efficiency enhancement, and product life. There is a various growth opportunity in this market which is captured by leading players via tracking the ongoing process enhancement and huge invest in market growth strategies. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Smart Mirrors market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Magna International (Canada), Electric Mirror (United States), Perseus Mirrors (United States), Evervue USA Inc. (United States), Seura (United States), LG Electronics (South Korea), Panasonic (Japan), Gentex (United States), Pro Display (United Kingdom) and Samsung (South Korea) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are ActiMirror (China) and SERAKU Co., Ltd (Japan).
Segmentation Overview
AMA Research has segmented the market of Global Smart Mirrors market by Type (Self-Dimming Mirrors, Self Cleaning Mirrors and Other), Application (Medical, Consumer and Household, Retail, Automotive and Other) and Region.
On the basis of geography, the market of Smart Mirrors has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Functionality, the sub-segment i.e. Connected will boost the Smart Mirrors market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Component, the sub-segment i.e. Hardware( Display, LED Light, Sensors, Camera, Connectivity) will boost the Smart Mirrors market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Smart Mirrors Used to Analyse the Face Tissue and Increasing Use of Smart Mirrors in Retail Sector
Market Growth Drivers:
Changing Lifestyle and Busy Work Schedule amoung the Population, Demand for Smart Mirrors in Automotive Sector for Safety and Upsurge Demand of Digital Technology in Retail Industry
Challenges:
Security Concern related to Personal and Confidential Data and Lack of Awareness
Restraints:
High Manufacturing and Implementation Cost of Smart Mirrors
Opportunities:
Rising Number of Smart Cities and Smart Homes in Emerging Countries and Growth in the Automotive Sector in Developing Countries
Market Leaders and their expansionary development strategies
In December 2022, Bioniq has acquired smart mirror company Vaha to increase its personalised health and fitness offering. In thia acquisition expands the growth of product portfolio.
On February 2022, MySize, Inc. the provider of AI-driven measurement solutions is pleased to announce the availability of its FirstLook Smart Mirror, an interactive, mirror-like touch display that provides shoppers in physical stores with an enhanced, online shopping experience and contactless checkout.
Key Target Audience
Smart Mirrors Manufacturers, Raw Material Suppliers, Smart Mirrors Suppliers/ Distributors, Potential Investors and Research and Development Firm
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.