Smart Mirrors Market to grow by USD 3.30 billion between 2022 - 2027, Growth Driven by the demand for smart mirrors from apparel shopping outlets - Technavio

NEW YORK, Oct. 20, 2023 /PRNewswire/ -- The Smart Mirrors Market report has been added to Technavio's offering. With ISO 9001:2015 certification, Technavio has proudly partnered with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the smart mirrors market between 2022 and 2027 is USD 3.30 billion. Get deeper insights into the market size, current market scenario, future growth opportunities, major growth driving factors, the latest trends, and much more. Buy the full report here

Growing demand for smart mirrors from apparel shopping outlets drives the smart mirrors market growth. Traditional mirrors in fitting rooms are replaced with smart mirrors by various high-end clothing accessories stores and retailers as they allow shoppers to actually see wearing the products they want to try. The way smart mirrors work is they are equipped with high-quality sensors that accurately detect the physical characteristics of the buyer before they are reflected on the screen in the same dimensions as the virtual reflection, as well as clothing and accessories. Hence, such factors drive the growth of the smart mirrors market during the forecast period. 

• Market Challenge - The high cost associated with smart mirrors challenges the smart mirrors market. The high price is attributed to the factor that mirrors incorporate advanced technologies such as networking capabilities, sensors, and built-in displays. For instance, large smart mirrors range in price from USD 400 to over USD 3,000. Additionally, the smart mirror manufacturing process requires a large capital investment, which affects the mirror price. Hence, such factors hinder the growth of the smart mirrors market during the forecast period. Learn about additional key drivers, trends, and challenges available with Technavio. Read the FREE Sample PDF Report Now

The smart mirrors market is segmented by Type (Wall mounted and Free-standing), Distribution Channel (Offline and Online), and Geography (Europe, North America, APAC, South America, and Middle East and Africa). 

• By Type, the wall-mounted segment will be significant during the forecast period. These mirror helps to save space by freeing up floor space and enhancing the overall look of the room. Space-saving solutions are in high demand, as most homes tend to have smaller bathrooms. These space-saving solutions include wall-mounted smart mirrors.
• By Geography, Europe is estimated to contribute 35% to the growth of the global market during the forecast period. View the FREE Sample Report for insights into the contribution of all the segments and regional opportunities in the report.

Key Companies in the Smart Mirrors market:

actiMirror Corp. Ltd., Parallel AV Inc., DE KEYZER, ELECTRIC MIRROR INC, Evervue USA Inc., FOSHAN ETERNA INTELLIGENT BATHROOM CO. LTD., Gentex Corp., Keonn Technologies, Kohler Co., LumiDesign, Magna International Inc., Mira, Modern Lighting by Lumens Light and Living, Murakami Corp., Panasonic Holdings Corp., Pro Display, Reflectel, Seura Inc., Videotree, Walmart Inc.

Related Reports:

The automotive intelligent rearview mirror market size is estimated to grow at a CAGR of 15.47% between 2022 and 2027. The market size is forecast to increase by USD 959.46 million. 

The Automotive Electrically Adjustable Outside Rear View Mirror (ORVM) Market size is estimated to grow at a CAGR of 4.81% between 2023 and 2027. 

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Type

Market Segmentation by Distribution Channel

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

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SOURCE Technavio