Smart Mirror Global Market Report 2024

Smart mirrors are reflective surfaces that function as two-way mirrors with an electronic display situated behind the glass. They have the capability to showcase a variety of information such as time, weather updates, calendar events, and daily news. These mirrors can display information, accept touch input, and incorporate additional features like speakers, cameras, microphones, and various sensors. They serve as a means to access diverse types of information through widgets, encompassing elements such as current weather conditions, time, date, and news updates.

The primary components of smart mirrors consist of hardware, software, and services. Hardware plays a crucial role in crafting the mirror and includes various components like displays, cameras, sensors, among others. Smart mirrors are categorized into exterior mirrors and interior mirrors, offering functionalities that can be either connected or non-connected. Furthermore, smart mirror features are classified into AR-smart mirrors and non-AR-smart mirrors. The applications of smart mirrors extend across sectors such as automotive, healthcare, retail and marketing, consumer applications, and various other domains.

The smart mirror market research report is one of a series of new reports that provides smart mirror market statistics, including smart mirror industry, global smart mirror market size, regional shares, competitors with an smart mirror market share, detailed smart mirror market segments, market trends and opportunities, and any further data you may need to thrive in the smart mirror industry. This smart mirror market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The smart mirror market size has grown rapidly in recent years. It will grow from $3.26 billion in 2023 to $3.73 billion in 2024 at a compound annual growth rate (CAGR) of 14.3%. The growth observed during the historical period can be credited to trends in vanity and grooming, advancements in retail and fitting room experiences, the expansion of augmented reality (AR) and virtual reality (VR), increased adoption of smart home technology, and applications within the retail and fashion industry.

The smart mirror market size is expected to see rapid growth in the next few years. It will grow to $6.21 billion in 2028 at a compound annual growth rate (CAGR) of 13.6%.
The anticipated growth in the forecast period can be linked to personalized shopping experiences facilitated by smart mirrors, the incorporation of fitness and wellness monitoring capabilities in home mirrors, the integration of AI for virtual try-ons, the global expansion of smart home technology, and the increasing applications in healthcare and telehealth. Additionally, augmented reality makeup and beauty guidance are expected to contribute to this growth. Notable trends projected for the forecast period encompass smart mirrors featuring AI fashion stylists, the utilization of biometric and facial recognition for personalization, the emergence of interactive fitness and workout mirrors, the application of smart mirrors for skin health and diagnostics, the integration of AR and VR for immersive experiences, and a shift towards eco-friendly and sustainable materials in smart mirror manufacturing.

The smart mirrors market is expected to experience significant growth due to the high demand for connected devices. Consumers are increasingly exploring the benefits of integrating additional devices into the internet to enhance their lives as technology advances. This growing demand for connected devices is anticipated to drive the demand for smart mirrors, leading to improved functionality and features. IoT Analytics, a German-based Internet of Things (IoT) market insights and strategic business intelligence firm, predicts that the internet of things will expand to 14.4 billion active connections in 2022, up from 12.3 billion in 2021. Consequently, the robust demand for connected devices is a key factor fueling the growth of the smart mirrors market.

The rise in remote work is poised to be a significant catalyst for the smart mirror market's growth. Remote work, or telecommuting, involves employees performing their job tasks from locations outside the traditional workplace, often from their homes or other remote settings. The increased prevalence of remote work has generated a demand for tools and technologies that enhance the efficiency, productivity, and enjoyment of the remote work experience. Smart mirrors, with their ability to integrate communication, productivity, and well-being features, are well-positioned to meet these needs and drive their adoption. A report from the United States Census Bureau in September 2022 revealed that 48.3% of the workforce in the District of Columbia engaged in remote work, marking the highest percentage of home-based workers among states and state equivalents in 2021. Noteworthy states with substantial proportions of remote workers included Washington (24.2%), Maryland (24.0%), Colorado (23.7%), and Massachusetts (23.7%). Hence, the increasing prevalence of remote work is a driving force behind the smart mirror market's growth.

Technological advancement emerges as a prominent trend gaining momentum in the smart mirror market. Key companies in the market are advancing their technologies and incorporating features such as fitness into their products. For example, Portl, an India-based intelligent home mirror company, introduced a smart fitness mirror in July 2022. This interactive fitness mirror comes equipped with Wi-Fi, Bluetooth connectivity, HD cameras, and edge AI processing. The sensors instantly correct a user's posture and form during workouts performed in front of the smart mirror.

Major players in the smart mirror market are also investing in innovative technologies like smart interactive mirrors to cater to larger customer bases, drive more sales, and increase revenue. A smart interactive mirror refers to a technologically advanced and interactive reflective surface with digital features and capabilities. MySize Inc., an Israel-based software company, launched the FirstLook Smart Mirror in February 2022, featuring an interactive touch display that mimics a mirror while offering in-store shoppers an enhanced online shopping experience and a contactless checkout option. This mirror seamlessly integrates into various retail settings, including fitting rooms or other high-traffic strategic locations.

In December 2022, Bioniq, a UK-based biotechnology company, acquired VAHA for an undisclosed amount, marking a strategic move in Bioniq's ongoing expansion strategy. The acquisition strengthens Bioniq's health subscription services in Europe and the Middle East, with VAHA, a Germany-based smart mirror company, expected to integrate into the global platform, expanding the portfolio of personalized health and wellness offerings.

Major companies operating in the smart mirror market include Perseus Mirrors, Samsung Electronics Co. Ltd., Electric mirror Inc., Japan Dsiplay Inc., Magna International Inc., Ficosa Internacional SA, Blickfeld GmbH, Magic Fitness, Fiture Holding LLC., Mirror (Vaurum Labs), Arecor Ltd plc., Avegant Corp., Oak Labs, Dension Ltd., Panasonic Corporation, Space Micro Inc., Fusion Processing, PsyOmics Ltd., Gentex Corporation, Portl Technologies, Vercon Smart Mirror Factory, Murakami Kaimeido Kyushu Corp., Seura Solutions LLC., HiMirror Inc., MirroCool Inc., HILO Smart Mirror Inc., Memomi Labs Inc., Perch Interactive Inc., SmartSpot Inc., Smart Mirrors Solutions LLC

Asia-Pacific was the largest region in the smart mirror market in 2023. The regions covered in the smart mirror market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the smart mirror market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.

The smart mirror market consists of sales of smart mirrors with and without a touchscreen . Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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