Smart Mirror Market to be Worth $1,012.6 Million by 2030: Grand View Research, Inc.

SAN FRANCISCO, June 14, 2023 /PRNewswire/ -- 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.

Key Industry Insights & Findings from the report:

• 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.

Read full market research report, "Smart Mirror Market Size, Share & Trends Analysis Report By Installation Type (Wall Mounted, Free-Standing), By Application (Residential, Commercial), By Distribution Channel (Online, Offline), By Region, And Segment Forecasts, 2023 - 2030", published by Grand View Research.

Smart Mirror Market Growth & Trends

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.

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

• Wall Mounted
• Free-Standing

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

• Residential
• Commercial

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

• Online
• Offline

Smart Mirror Market - 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

Check out more market research studies published by Grand View Research:

• Smart Shower Market - The global smart shower market size is anticipated to reach USD 2.71 billion by 2030, according to a new report by Grand View Research, Inc., and expanding at a CAGR of 11.8% from 2023 to 2030. An increase in the average number of bathrooms in U.S. households is also resulting in the greater adoption of newer and smart bathroom products, including smart showers. In the past half-century, the number of bathrooms per person in America has doubled. Moreover, the share of houses with 10 or more bathrooms has doubled in the past decade, according to a January 2020 blog post by The Atlantic. According to the U.S. Census Bureau, of the 970,000 single-family homes completed in 2021, 27,000 had one and one-half bathrooms or less and 320,000 homes had three or more bathrooms. This trend is projected to fuel the demand for smart showers.
• Smart Doorbell Market - The global smart doorbell market size is expected to reach USD 33,428.5 million by 2030, registering CAGR of 33.4% from 2023 to 2030 according to a new report by Grand View Research, Inc. Rising geriatric population, availability of improved M2M communication systems, along with development & launches of Internet of Things and artificial intelligence-based security systems worldwide are the factors contributing to the growing demand for these products at residential spaces, which drives the market growth.
• Smart Air Purifier Market - The global smart air purifier market size is expected to reach USD 4.71 billion by 2025, according to a new report by Grand View Research, Inc. It is projected to expand at a CAGR of 12.2% during the forecast period. Rising efforts to eradicate airborne diseases and to maintain clean and healthy environment are anticipated to drive the growth. Rise in pollution levels across the world is a major factor driving the demand for anti-pollution products including smart air purifiers.

Browse through Grand View Research's Electronic & Electrical Industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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