The global smart mirror market will reach $5.9 billion by 2027 at a CAGR of 16.8%

DUBLIN, September 16, 2022 /PRNewswire/ — The “Global Smart Mirror Market by Offering (Hardware (Displays, Sensors, Cameras), Software, Services), Application (Automotive (Indoor, Outdoor), Hospitality, Retail), Technology, Install Type, Sales Channel and region – forecast until 2027″ report has been added to from ResearchAndMarkets.com offer.

The global smart mirror market size is estimated at $2.7 billion in 2022 and should reach $5.9 billion by 2027, at a CAGR of 16.8% over the forecast period. Some of the major factors contributing to the growth of the smart mirror market include increasing adoption of electric vehicles (EVs) across the globe and growing emphasis on automation of various end-use industries including automotive and retail.

Other major factors propelling the growth of the market include rising focus on enhanced security devices in automobiles, growing number of smart homes, increasing penetration of virtual retail and smart retail stores for increase customer satisfaction.

Sensors are expected to witness the highest growth among all hardware components in the global smart mirror market by 2027

Hardware components include sensors, displays, cameras, and other peripherals such as audio systems and connectivity devices. A sensor is one of the most important hardware components of smart mirrors. Sensors can perform logical functions such as decision making and communication with various other systems as well as controlled devices. A variety of sensors are used in smart mirrors such as temperature, humidity, light, and occupancy sensors. A light sensor is built into the smart mirror to measure the light in a room or the environment to determine if the mirror should be turned on/off. The humidity sensor is an essential component of smart mirrors in bathrooms to protect the electronics of smart mirrors from humidity.

Growing adoption of IoT devices for home automation to propel the deployment of smart mirrors in residential applications

Smart mirrors used in smart homes or residential applications can be integrated with IoT devices such as Alexa or smartphones to provide information such as weather updates, email notifications, as well as for security and control of home appliances in the environment in which they are deployed. The smart mirror systems deployed in the residential application or homes can accept three modes of input commands, namely touch, mobile and voice commands. Touchscreen controls can be used whenever an admin/owner is in front of the mirror and mobile controls can be used when the mirror admin/owner is away from the mirror.

Electrochromatic smart mirrors are expected to dominate the market over the forecast period

Electrochromatic smart mirrors are expected to see high demand in the coming years due to the growing demand for auto-dimming technology in electric vehicles (EVs) and mirrorless vehicles. Electrochromatic mirrors/self-dimming mirrors use a combination of optoelectronic sensors and other complex electronic devices such as sensors, circuit boards and microcontrollers that continuously monitor ambient light and the intensity of light shining directly onto the mirror surface. As soon as sensors detect glare, the electrochromatic surface of the mirror darkens to protect the driver’s eyes and his concentration. Gentex is one of the best known manufacturers of auto-dimming mirrors.

Market dynamics

Drivers

  • Alternative to convex mirrors for improved safety features in automobiles
  • Smart homes driven by IoT devices
  • Presence of a large number of start-ups
  • Innovative Features

Constraints

  • Security breach of confidential and personal data

Opportunities

  • Transition from traditional stores to digital stores in the retail sector
  • Industry 4.0 to provide growth opportunities
  • Untapped potential in Asia Pacific

Challenges

  • Lack of awareness about smart mirrors
  • Higher cost than ordinary mirrors

Main topics covered:

1. Introduction

2 Research methodology

3 Executive Summary

4 premium previews

5 Market Overview

6 Smart Mirror Market, By Supply

7 Smart Mirror Market, By Technology

8 Smart Mirrors Market, By Application

9 Smart Mirror Market, By Installation Type

10 Smart Mirrors Market, By Sales Channel

11 Smart Mirrors Market, by Region

12 Competitive Landscape

13 company profiles

14 Appendix

Companies cited

  • Ad Notam
  • Alke
  • Density
  • Director
  • electric mirror
  • Eyeyes GmbH
  • Ficosa International SA
  • Gentex Company
  • Glance poster
  • Harman International Industries (subsidiary of Samsung)
  • Hilo Smart Mirror
  • Japan Display Inc.
  • Keonn Technologies
  • Magna International
  • metroclick
  • mirrorcool
  • Murakami Kaimeido
  • Nextgo Company Limited
  • oaklabs
  • Perseus Mirror
  • Pingala Software India Pvt. ltd.
  • Professional display
  • Seura Solutions
  • Seymourpowell
  • smart dot

For more information on this report, visit https://www.researchandmarkets.com/r/f7d44f

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SOURCE Research and Markets