Smart Mirror Market Analysis, Size, Growth, Share, Trend,
Forecast 2023 – 2030
Smart Mirror Market Growth & Trends
According to a new report by Grand View Research, Inc., the global smart mirror market is estimated to reach a valuation of USD 1,012.6 million by 2030, with a projected compound annual growth rate (CAGR) of 8.8% from 2023 to 2030.
The market's expansion is driven by the increasing demand for smart home devices, which has significantly impacted the adoption of smart mirrors. These cutting-edge mirrors have become increasingly popular due to their seamless integration with various smart devices and systems within a smart home ecosystem. Functioning as convenient control centers, they deliver notifications, provide information, and facilitate connectivity with other smart devices, making them an irresistible addition to modern smart homes.
Among the different types of smart mirrors, wall-mounted options have emerged as the dominant segment, capturing a significant market share in 2022. Consumers, conscious of the higher cost associated with smart mirrors compared to regular mirrors, are exercising caution, and choosing wallmounted alternatives. Apart from saving space by eliminating the need for floor placement, these mirrors also enhance the overall aesthetic appeal of a room. Given that bathrooms, in particular, tend to be smaller in many homes, the demand for space-saving solutions like wall-mounted smart mirrors has surged.
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In 2022, offline sales channels accounted for a larger market size in smart mirror sales. The availability of offline channels provides customers with a valuable opportunity to personally evaluate the products, assessing the quality, design, and functionality of smart mirrors before making a purchase. This hands-on experience becomes particularly vital when considering premium products like smart mirrors. Additionally, offline channels often employ knowledgeable sales personnel who can offer personalized assistance and guidance, further enriching the overall shopping experience.
North America emerged as the leading region in the global smart mirror market, capturing the largest share. The growth in North America can be attributed to the widespread acceptance of smart technologies, the increasing consumer demand for personalized experiences, and the convenience provided by smart mirrors. Smart mirrors have become a highly desirable choice for households in North America due to their unique functionalities, convenience, and aesthetic appeal. Their ability to display real-time information, seamlessly integrate with virtual assistants, and offer personalized features has significantly contributed to this popularity.
Smart Mirror Market Report Highlights:
Europe is projected to witness substantial growth with a considerable CAGR from 2023 to 2030. In Europe, consumers place a high value on design and aesthetics in home decor, fueling the preference for products like smart mirrors.
The free-standing segment is expected to experience significant expansion with a substantial CAGR over the forecast period. The flexibility in mirror placement serves as a key driving factor behind the growing popularity and demand for free-standing smart mirrors.
The commercial segment is anticipated to witness faster growth with a higher CAGR over the forecast period. The adoption of smart mirrors in commercial spaces enhances customer convenience, reduces return rates, and boosts sales, leading to their increasing utilization in various commercial settings.
Online sales channels are predicted to expand at a higher CAGR over the forecast period. Online distribution channels offer numerous conveniences for shopping, resulting in increased consumer usage and driving the growth of this segment.
Smart Mirror Market Segmentation
Grand View Research has segmented the global smart mirror market based on installation type, application, distribution channel, and region.
Smart Mirror Installation Type Outlook (Revenue, USD Million, 2017 - 2030)
Wall Mounted
Free-Standing
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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
o U.S.
Europe o UK o Germany o France
Asia Pacific
o China
o Japan
o India
o South Korea
o Australia
Central & South America
o Brazil
Middle East & Africa
o 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
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The data analysis in the report will help you Smart Mirror Market dynamics projected from 2022 - 2030
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