Smart Mirror Statistics 2023 – Market Share and Companies
Page Contents
Introduction
Smart Mirror Statistics: Smart mirrors have been gaining a reputation in recent years because of their superior capabilities and talents. These mirrors are prepared with an inbuilt display in the back of the glass, that could show something a user needs on the reflecting floor, together with weather forecasts, information updates, or even social media feeds.
Are you still unaware of the term smart mirror? How does a smart mirror work and which brand is trending over the global market in 2024? Then go through this Smart Mirror Statistics, which includes insights and statistical analysis taken out from several studies and results; that can be beneficial for your future use.
Editor’s Choice
(Source: mordorintelligence.com)
- As of 2024, the global market valuation of Smart Mirror is estimated to reach $4.35 billion.
- The marketplace is projected to grow at a CAGR of 11.43% from 2024 to 2029, with an international market size of $7.47 billion by 2029.
- The market leaders in smart mirrors are Gentex Corp., Ficosa (Panasonic), Magna International Inc., Samsung Electronics Co., Ltd., and Japan Display Inc.
- The United States is presently the most important marketplace for smart mirrors, accounting for approximately 35% of the global market proportion.
- In terms of traffic sources, the report found that the majority of website traffic comes from organic search 49%.
- As of 2023, the highest usage of Smart Mirror applications is in general stores with a market share of 57.5%.
- The worldwide technology market of smart mirrors in 2023 is projected to be $3.28 billion.
- Wall mounted is the leading sector of the tech-implemented mirror with above 65% market share of overall revenue.
- In 2023, the North American region has captured the highest share of the global smart mirror market resulting in 37%.
- Based on end-user type, the automotive segment is supposed to gain the fastest CAGR of 15.2% from 2022 to 2027.
Facts of Smart Mirror
- The advanced tech mirror market was valued at $3.4 billion in 2023 and is predicted to attain $6.7 billion using the subsequent 5 years, registering a CAGR of 17.4%.
- The international technology implemented mirror marketplace size turned into valued at $514.6 million in 2022, $2.3 billion in 2021, and is expected to attain USD 6.2 billion by 2030, at a CAGR of 11.2% from 2022 to 2030.
- The tech mirror manufacturing marketplace boom fee is projected to be almost 8% from 2023 to 2033
- The usage of smart mirrors inside the retail industry has been growing because it enables improved client purchasing enjoyment.
- The retail industry has been the use of technology-implemented mirrors to beautify patron buying revel, while the automobile enterprise is also adopting this generation.
- The market also finds applications in an extensive range of end-person sectors, but the simplest packages located in the automobile and retail industries stand to advantage most.
Smart Mirror Statistics 2023
Technological mirrors have been developing in popularity over the past few years, and the market is predicted to continue its growth in 2023. In this section, we will discuss the overall marketplace boom and product segmentation of the advanced tech mirror industry.
(Source: market.us)
- The worldwide advanced mirror market length turned into valued at $5 billion in 2023 and is expected to grow at a compound annual increase charge (CAGR) of 9.4% from 2023 to 2032, in keeping with a file by using Grand View Research.
- By the end of 2032, the global market share of this industry is expected to be $9.1 billion.
- According to a document by way of Mordor Intelligence, the global marketplace of tech mirror is expected to be $6.7 billion with the aid of the following 5 years.
- As of the above graph analysis, in the coming year, the global smart mirror market size is followed by 2024 ($4.5 billion), 2025 ($5 billion), 2026 ($5.6 billion), 2027 ($6 billion), 2028 ($6.4 billion), 2029 ($7 billion), 2030 ($7.5 billion), 2031 ($8.2 billion), and 2032 ($9.1 billion).
- The worldwide advanced mirror marketplace market was valued at $514.6 million in 2022 and is predicted to develop at a compound annual growth charge (CAGR) of 8.8% from 2023 to 2030,
- The international marketplace is anticipated to keep a marketplace cost of $548.21 Million in 2023 and $1,183.54 Million by 2033.
- This also suggests that the mirror production marketplace growth fee is projected to be nearly 8% from 2023 to 2033.
- The year-over-year months increase charge in 2023 is around 15.05%, and its miles are predicted to attain USD 6.2 billion through 2030, at a CAGR of 11.2% from 2022 to 2030.
By Technology Statistics
(Source: globenewswire.com)
- On the other hand, the worldwide technology market of smart mirrors in 2023 is projected to be $3.28 billion.
- Whereas, the marketplace share is going to be $4.72 billion with a 7.6% CAGR by 2028.
Key Players in the Global Market
(Source: mordorintelligence.com)
- Gentex Corporation: Gentex Corporation is an international leader in the tech mirror market. The company gives a variety of tech mirrors with superior functions inclusive of facial reputation, gesture recognition, and voice popularity. Gentex Corporation has a vast presence in the car industry and is a prime supplier of these mirrors to main car manufacturers.
- Electric Mirror: Electric Mirror is the main manufacturer of such tech mirrors for the hospitality enterprise. The business enterprise offers several smart mirrors with functions inclusive of built-in lighting, Bluetooth connectivity, and touchscreen controls. Electric Mirror has a robust presence in the US marketplace and is expanding its operations globally.
- Perseus Mirrors: Perseus Mirrors is a leading manufacturer of advanced mirrors for the healthcare industry. The business enterprise offers several tech mirrors with capabilities such as biometric sensors, essential signal tracking, and telemedicine abilities.
- Ficosa: Ficosa is a Spanish agency that specializes in the development of tech-oriented mirrors for the automotive industry. The company gives a range of these mirrors with features together with blind spot detection, lane departure warning, and rearview camera show. Ficosa has a robust presence in Europe and is expanding its operations globally.
By User Demographic Statistics
- According to a report using Mordor Intelligence, the usage of these mirrors is extra customary in many of the more youth people.
- The file shows that the age institution of 18-34 years is the maximum energetic user of such mirrors.
- The record also indicates that users aged 55 years and above are active customers of smart mirrors.
By Type Statistics
(Reference: technavio.com)
- Wall mounted is the leading sector of the tech-implemented mirror with above 65% market share of overall revenue.
- While the Free-stand holds a market share of 35% share in 2023.
- By the end of 2022, the highest share was accounted for by the wall-mounted smart mirror segment with a share of 80%.
By Application Statistics
(Reference: researchgate.net)
- As of 2023, the highest usage of smart mirror applications is in general stores with a market share of 57.5%.
- Furthermore, other application usage shares are followed by medical (17.5%), Fashion (15%), Academic (5%), and Sports (5%).
By Region Statistics
(Source: coherentmarketinsights.com)
- In 2023, the North American region has captured the highest share of the global Smart Mirror market resulting in 37%.
- During the forecast period from 2022 to 2027, Europe is expected to grow with the fastest CAGR of 11.3%
By Country Statistics
- The United States is presently the most important marketplace for smart mirrors, accounting for 35% of the global market proportion.
- The market inside the United States of America is expected that a compound annual gross rate (CAGR) of 15.5% from 2023-2033.
- Europe is the second-largest marketplace for tech mirrors, accounting for approximately 28% of the worldwide marketplace share.
- The marketplace of smart and tech mirrors in Europe is expected with a CAGR of 13.2%.
- China is the 3rd biggest market for Smart Mirrors, with approximately 19% of the worldwide marketplace percentage approximately.
- Whereas, the marketplace is supposed to gain a CAGR of 18.5% for the duration of the forecast period.
- The marketplace of advanced mirrors in India is predicted to grow with a CAGR of 21.3% throughout the forecast duration.
- On the other hand marketplace of Smart Mirrors in Japan is predicted to grow at a CAGR of 16.8% during the forecast length.
Smart Mirror Statistics By Website Traffic
- The report is based on a survey of 400 web professionals and states that the monthly visit has resulted in around 10K average website viewers, with the median website receiving 1K monthly visits.
- The report also found that 50% of websites have received less than 500 monthly visits.
- In terms of traffic sources, the report found that the majority of website traffic comes from organic search 49%.
- Whereas, in 2023 other website traffic of smart advanced mirror are followed by direct traffic source (17%), social media (7%), paid search (5%), referral traffic (4%), and the remaining 18% of traffic comes from other sources.
- On the other hand, the average bounce rate for websites is 58 percent, with the median bounce rate being 70%.
Conclusion
Smart mirrors have grown to be more and more popular in recent years due to their potential to decorate everyday exercises and offer precise and customized reviews in commercial settings. These devices are mirrors with digital shows that can be used for many purposes, together with showing climate and news updates, imparting make-up tutorials, or even monitoring fitness development. As a result, smart mirrors have come to be a warm subject matter in recent days as people around the world are showing more interest.
Sources
FAQ.
The smart tech mirror enterprise is fantastically aggressive, with numerous key players dominating the marketplace. Some of the main companies in the industry encompass Samsung, Panasonic, LG, Magna International, and Perseus Mirrors.
According to marketplace studies reports the global tech mirror marketplace is expected to be USD 6.2 billion in 2023 and is projected to attain $16.51 billion by 2029, growing at a CAGR of 10.84% throughout the forecast duration. The marketplace percentage of male or female organizations varies depending on the location and alertness
These mirrors are utilized by a huge range of customers, such as people within the splendor and fashion industries, healthcare providers, and automotive producers. The demographics of tech mirror users vary depending on the utility and place.
The usage of these mirrors varies by us, with a few areas displaying better adoption charges than others. For example, the retail enterprise in North America has seen a good sized growth within the use of mirrors to decorate the purchaser shopping revel. In Asia-Pacific, the automobile enterprise is a key consumer of advanced mirrors.
Website visitors for pinnacle tech mirror agencies vary depending on the corporation and vicinity. Some agencies have an international presence and attract a large quantity of site visitors to their websites, while others have extra localized awareness.
- These advanced mirrors can display a wide variety of facts, consisting of weather forecasts, news updates, and social media feeds.
- The use of such mirrors within the retail enterprise has been growing because it allows enhanced client buying revel.
- The healthcare enterprise is likewise exploring using these mirrors to decorate patient care and streamline medical methods.
- These mirrors also are being used in the automobile industry to provide drivers with actual-time facts approximately their vehicles and surroundings.
Barry is a lover of everything technology. Figuring out how the software works and creating content to shed more light on the value it offers users is his favorite pastime. When not evaluating apps or programs, he's busy trying out new healthy recipes, doing yoga, meditating, or taking nature walks with his little one.
