Smart Mirror Market Size To Reach $1,012.6 Million By 2030



 Smart Mirror Market Growth & Trends

The global smart mirror market size was estimated to reach USD 1,012.6 million in 2030 and is anticipated to expand at a CAGR of 8.8% from 2023 to 2030, according to a new report by Grand View Research, Inc. The increasing demand for smart home devices is having a significant impact on the smart mirror market. Smart mirrors have become highly sought-after due to their ability to seamlessly integrate with various smart devices and systems within a smart home ecosystem. These mirrors serve as convenient control centers, delivering notifications, presenting information, and facilitating connectivity with other smart devices, making them an appealing addition to modern smart homes.

The wall mounted smart mirror dominated the market by holding a major share in 2022. Smart mirrors are high in cost and due to their higher cost in comparison to regular mirrors, consumers are exercising caution and gravitating towards wall-mounted smart mirrors. These types of smart mirrors not only help save space by eliminating the need for floor placement but also enhance the aesthetic appeal of a room. Given that bathrooms, in particular, are typically smaller in many homes, there is a significant demand for space-saving solutions like wall-mounted smart mirrors.

Application of smart mirror in commercial spaces exhibited the largest share in 2022. The adoption of smart mirrors in the commercial sector has experienced significant growth in recent years due to their ability to enhance customer experiences, improve engagement, and provide valuable data for businesses. These devices offer various functionalities that cater to different industries, transforming the way businesses interact with customers.One industry where smart mirrors have gained traction is retail. They are used in stores to create interactive and immersive shopping experiences, enabling customers to virtually try on clothing, accessories, or makeup. This technology enhances customer convenience, reduces return rates, and boosts sales.

The sale of smart mirror through offline channel held the larger market size in 2022. Offline channels offer customers the chance to personally evaluate the products, providing them with a valuable opportunity to assess the quality, design, and functionality of smart mirrors before committing to a purchase. This hands-on experience becomes especially significant when considering the integration of a premium product such as a smart mirror. Furthermore, offline channels typically employ well-informed sales personnel who can offer personalized assistance and guidance to customers, further enhancing their shopping experience.

North America accounted for the largest share of the market. The growth of smart mirrors in the region can be attributed to the growing acceptance of smart technologies, the heightened consumer demand for personalized experiences, and the convenience they provide. Smart mirrors have emerged as a desirable choice for consumers due to their unique combination of functionality, convenience, and aesthetic appeal. Their capability to display real-time information, seamlessly integrate with virtual assistants, and offer personalized features has significantly contributed to their popularity among households in North America.

Various steps are adopted by the key companies including new product launches, partnerships, mergers and acquisitions, global expansion, and others to gain more share of the market. 

Request a free sample copy or view report summary: https://www.grandviewresearch.com/industry-analysis/smart-mirror-market-report

Smart Mirror Market Report Highlights

  • Europe is expected to expand with a considerable CAGR over the forecast period from 2023 to 2030. In Europe, consumers place a high value on design and aesthetics in home decor, which drives the preference for products like smart mirrors
  • The free-standing segment is estimated to expand with substantial CAGR over the forecast period. The flexibility in placement of these mirrors is a key driving factor behind the increasing popularity and growth of free-standing smart mirrors
  • The commercial segment is anticipated to expand with a faster CAGR over the forecast period. Use of smart mirrors in commercial spaces enhances customer convenience, reduces return rates, and boosts sales owing to which their adoption is increasing in commercial spaces thus surging the market growth
  • The online sales channel is expected to expand with a higher CAGR over the forecast period. Online distribution channels offer various conveniences for shopping owing to which its use is increasing among consumers thus surging the segment’s growth

Smart Mirror Market Segmentation

Grand View Research has segmented the global smart mirror market on the basis of installation type, application, distribution channel, and region:

Smart Mirror Installation Type Outlook (Revenue, USD Million, 2017 - 2030)

  • Wall Mounted
  • Free-Standing

Smart Mirror Application Outlook (Revenue, USD Million, 2017 - 2030)

  • Residential
  • Commercial

Smart Mirror Distribution Channel Outlook (Revenue, USD Million, 2017 - 2030)

  • Online
  • Offline

Smart Mirror Regional Outlook (Revenue, USD Million, 2017 - 2030)

  • North America
    • U.S.
  • Europe
    • U.K.
    • Germany
    • France
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
  • Central & South America
    • Brazil
  • Middle East & Africa
    • South Africa

List of Key Players of Smart Mirror Market

  • ELECTRIC MIRROR, INC.
  • Séura
  • Hidden Television
  • Majestic Mirror & Frame
  • AVIS Electronics company
  • FOSHAN ETERNA INTELLIGENT BATHROOM CO., LTD.
  • Reflectel
  • LumiDesign
  • Evervue USA Inc.
  • Videotree

Browse Full Report: https://www.grandviewresearch.com/industry-analysis/smart-mirror-market-report

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