Selbyville, Delaware, June 27, 2023 (GLOBE NEWSWIRE) -- Smart Mirror Market size is predicted to cross USD 7.9 billion by 2032, as per a recent study by Global Market Insights Inc.
The increasing demand for smart homes and connected devices is driving the market expansion. Smart mirrors provide features such as voice commands, weather updates, health monitoring, and personalized information display. The integration of AI and IoT capabilities has further fueled their popularity. Additionally, the growing emphasis on personal grooming, fitness tracking, and the overall wellness trend is boosting the adoption of smart mirrors. Increasing commercial application range of the product such as virtual try-on in retail sector and patient monitoring in telemedicine will further help the market to continue its upward trajectory in the coming years.
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Interactive functionalities of smart mirror software
Based on component, the smart mirror market is segmented into software, hardware, and service. The market share from software segment is expected to witness growth through 2032. The software acts as the brain behind the mirror, enabling it to offer a wide range of interactive features and functionalities. It allows users to customize their experience by integrating various applications and services into the mirror's interface. This includes features like voice assistants, weather updates, fitness tracking, virtual try-on for cosmetics or fashion, and even augmented reality experiences. The continuous advancements in smart mirror software, including improvements in user interfaces, data analytics, and machine learning algorithms that provide enhanced user experiences will favor the product adoption.
Increasing adoption of connected devices across residential sector
In terms of application, the market is divided into healthcare, automotive, hospitality, residential, and others. The smart mirror market share from the residential segment will grow substantially from 2023 to 2032 owing to the rising trend of smart homes which has created a demand for connected devices that offer convenience, automation, and integration with other smart home systems. Smart mirrors perfectly align with this trend by providing a seamless blend of functionality and aesthetics. These mirrors also offer a range of features that cater to personal grooming, wellness, and convenience, making them desirable for residential consumers.
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Rising disposable income of consumers in APAC region
Asia Pacific smart mirror market is predicted to observe significant growth through 2032, attributed to the increasing urbanization, rising disposable income, and a tech-savvy population. The demand for smart homes and connected devices is growing rapidly, leading to higher adoption of smart mirrors in residential spaces. Additionally, the strong presence of consumer electronics manufacturers and rapid technological advancements contribute to the market development. Evolving lifestyle of consumers, increasing awareness about personal grooming, and the desire for advanced home automation solutions in China, India South Korea, and other developing nations will fuel the regional industry share in coming years.
Key players in the global market
Some of the leading solution providers in the global smart mirror market are Dension, Harman International Industries, AD Natom AG, Magna International, Evervue, Gentex Corporation, Ficosa International SA, Kohler Co., Murakami Kaimeido, and Keonn Technologies SL.
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About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
