Global Smart Mirror Market 2021-2027

A smart mirror is a multifunctional mirror that has an electronic display screen, placed behind the glass. The display provides the viewer with different information like time, date, weather, and news updates. This mirror is useful for the person who wants to stay informed while doing work or wants to multitask. Smart mirrors have become popular among those having busy work schedules, luxurious populations,s and changing lifestyles. Moreover, smart mirrors have various applications which include consumer, household, retail, advertising, medical & healthcare. Smart mirrors have various features such as touchscreen options and Internet connectivity. The smart mirror is being used in vehicles in a different manner like, for rear-view, that assists in parking the vehicle, mirror with self-dimming and light sensors are used to control reflections that provide improved road safety by improving driver convenience.

According to a market report published by Bizwit Research & Consulting, LLP, Global Smart Mirror market is valued approximately USD 2967.44 Million in 2020 and is anticipated to grow with a healthy growth rate of nearly 11.89% over the forecast period 2021-2027.

Favorable government regulatory policies, the presence of a large number of start-ups, and increasing demand in major shopping outlets and malls are the major factors driving the growth in Global Smart Mirror Market. Furthermore, increasing technological advancements and growing adoption from smart homes is expected to create new opportunities for the market. However, security concerns regarding confidential and personal data may constrain the growth of the market.

A smart home’s devices are connected through the internet, allowing the user to handle features such as home security, temperature, lighting, and a home theatre from afar. With such features, the smart mirror has become one of the emerging smart home devices, which facilitates ample features remotely. Smart mirrors can be operated with the help of Bluetooth connectivity or the internet and can be accessed with voice commands or mobile applications along with gestures and touch. According to Statista, the estimated rate of penetration of smart homes was 10.62% in 2020, which is forecasted to reach 21.09% in 2025. Thus, increasing penetration of smart homes is likely to offer lucrative growth opportunities for smart mirrors during the forecasted period.

Global Smart Mirror Market Size study, by Component (Hardware, Solution, Services) by End-use (Healthcare, Automotive, Hospitality & retail and residential) and by Regional Forecasts 2021-2027

The total market revenue is calculated on the basis of revenue generated through the sales smart mirrors. However, sales generated from reselling of the smart mirrors are excluded from the report. Major companies covered under the report include Ficosa International SA, MemoMi, Gentex, Magna, Electric Mirror, HARMAN, Pro display, Ad Notam AG, Seura, Dension Ltd.

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