Smart Mirror Statistics By Market Size, Usage and Facts
Updated · Oct 08, 2024
WHAT WE HAVE ON THIS PAGE
- Introduction
- Editor’s Choice
- General Smart Mirror Statistics
- What is a Smart Mirror?
- Key Features Of Smart Mirrors
- Smart Mirror Market Size Statistics
- Smart Mirror Statistics By Key Players Market Analyses
- Smart Mirror Market Share Statistics By Installation Types
- Smart Mirror Statistics By Region and Country
- Market Size Of Smart Fitness Mirrors In China
- Smart Mirror’s Product Development And Innovations Statistics
- Conclusion
Introduction
Smart Mirror Statistics: Smart mirrors have become popular in recent years because of their advanced features. These mirrors have a display built behind the glass that can show information like weather updates, news, or even social media feeds on the mirror’s surface. The integration of AI, IoT, and AR technologies is making smart mirrors more popular, offering interactive and personalized experiences for users.
These mirrors are revolutionizing traditional mirrors by turning them into multi-functional devices. Interested in the smart mirror? Want to know how it works and which brand is leading the market in 2024? Check out this Smart Mirror Statistics report. It offers simple explanations and useful data from various studies, which can help you understand and use the information in the future.
Editor’s Choice
- The global advanced mirror market will be valued at around USD 4.5 billion by 2024, an increase from USD 4.2 billion in 2023.
- The United States is the biggest market for smart mirrors, making up about 35% of the world market.
- In the U.S., smart mirrors range from USD 100 for basic models to over USD 400 for larger ones with advanced features.
- Due to its good products and energy-saving rules, North America will lead the market with an over 32.5% share in 2024.
- In 2023, general stores used the most smart mirrors (57.5%), making them the top users of this technology.
- The smart mirror market is divided into hardware, software, and services segments. Hardware accounted for around 65% of the market share in 2023.
- In 2024, general stores will hold the largest share of the market, at 57.5%, due to the widespread adoption of smart mirrors in retail.
- At the same time, wall-mounted smart mirrors dominate the market, making up about 70% of the total installations, particularly in residential and commercial spaces.
General Smart Mirror Statistics
(Source: mordorintelligence.com)
- The above graph depicts that by 2024, the global smart mirror market will be valued at USD 4.35 billion.
- The market will grow by 11.43% yearly from 2024 to 2029, reaching USD 7.47 billion by 2029.
- As of 2024, the main companies in the smart mirror market are Gentex, Ficosa, Magna, Samsung, and Japan Display.
- In 2024, approximately 20 to 30% of new smart mirrors will have integrated health tracking systems, a number expected to grow in response to consumer demand for health-centric technologies.
What is a Smart Mirror?
A smart mirror is an interactive, technologically advanced mirror that integrates hardware, software, and sensors to provide additional functionality beyond reflecting an image. These mirrors often include displays behind the reflective surface, allowing users to access information and interact with various features.
Key Features Of Smart Mirrors
- Display Integration: Smart mirrors feature a digital screen embedded within the mirror, which can display data such as the time, weather, news, or fitness metrics while still functioning as a traditional mirror.
- Touch and Voice Control: Many smart mirrors come equipped with touchscreens or voice assistants (like Alexa or Google Assistant), allowing users to control the device hands-free or through touch.
- IoT and Connectivity: Smart mirrors can connect to other smart devices through the Internet of Things (IoT), enabling users to sync them with phones, fitness trackers, or home automation systems.
- Health and Fitness Monitoring: Some smart mirrors provide health tracking features, such as heart rate monitoring, workout guidance, and skin analysis, making them popular in both residential homes and healthcare settings.
- Interactive Retail Experiences: In retail, smart mirrors allow virtual try-ons for clothes and accessories, providing customers with personalized shopping experiences.
- Automotive Safety Features: Smart mirrors enhance safety in vehicles by offering features like rearview camera feeds, blind spot detection, and lane departure warnings.
Smart Mirror Market Size Statistics
(Source: market.us)
- As per a report published by market.us, the global advanced mirror market will be valued at around USD 4.5 billion by 2024, an increase from USD 4.2 billion in 2023.
- The market’s expected growth rate will be 9.4% of CAGR from 2023 to 2032, resulting in USD 9.1 billion.
- Smart Mirror Statistics also show that the expected market size of smart mirrors will be USD 5 billion by 2025, followed by 2026 (USD 5.6 billion), 2027 (USD 6.0 billion), 2028 (USD 6.4 billion), 2029 (USD 7.0 billion), 2030 (USD 7.5 billion), and 2031(USD 8.2 billion).
Smart Mirror Statistics By Key Players Market Analyses
- Gentex Corp.
- Ficosa (Panasonic)
- Magna International Inc.
- Samsung Electronics Co., Ltd.
- Japan Display Inc.
(Source: mordorintelligence.com)
- Gentex Corporation’s sales were USD 572.9 million in the second quarter of 2024, slightly down from USD 583.5 million in the same quarter of 2023.
- Ficosa, in collaboration with Panasonic, continues to make significant strides in the smart mirror market, and it is expected to reach a value of USD 3.73 billion by 2024.
- Smart Mirror Statistics also declared that Magna International generated around USD 11 billion in the first quarter of 2024, a 3% increase from the previous year.
(Reference: technavio.com)
- As per Smart Mirror Statistics, in 2023, the wall-mounted segment was the leading category in the smart mirrors market, contributing up to 65% of the total market revenue and expected to cover 70% by 2024.
- These mirrors are particularly popular in homes, hotels, and retail stores, where maximizing space and providing sleek aesthetics are crucial.
- Meanwhile, Free-standing mirrors are typically used in luxury retail stores and high-end commercial settings, where mobility and larger display sizes capture a 35% market share.
By Application
(Source: cdn.gminsights.com)
- In 2023, smart mirrors in cars made up 49% of the market and helped drivers avoid accidents by increasing awareness.
- The smart home sector has become a significant driver of the smart mirror market, accounting for around 20-25% of the share and contributing to an estimated 10.2% CAGR for the residential sector from 2024 to 2032.
- Retailers are increasingly using smart mirrors to enhance customer experience, providing features such as virtual try-ons and personalized recommendations through augmented reality (AR) and artificial intelligence (AI) technologies.
- Smart Mirror Statistics further reports that in 2023, the healthcare segment of the smart mirror market accounted for a 10.5% share of the overall smart mirror market.
By Component
- As of 2024, the hardware segment will secure the largest market, resulting in 65-70% of the total smart mirror market.
- Key Components: Displays (LCD, OLED), sensors, cameras, and connectivity modules form the core hardware of smart mirrors.
- On the other hand, by the end of the year, the software component will make up around 20-25% of the market.
- Key Functions: Software enables the integration of smart mirrors with AI-powered features, such as voice recognition, health tracking, virtual try-ons, and interactive displays.
By Usage
(Reference: researchgate.net)
- Smart Mirror Statistics reports that in 2023, smart mirrors are most commonly used in general stores, where they account for 57.5% of the market.
- Furthermore, medical (17.5%), Fashion (15%), Academic (5%), and Sports (5%) are the top application usage shares.
Smart Mirror Statistics By Region and Country
- In 2023, the region generated approximately USD 570 million, accounting for a significant portion of global market revenue.
- Europe holds a significant share of the global smart mirror market, accounting for around 25% of the total market.
- The Asia-Pacific region will reach up to witness the fastest growth in the smart mirror market, with a CAGR of over 10% projected through 2024-2032.
Market Size Of Smart Fitness Mirrors In China
(Reference: statista.com)
- The smart fitness mirror market in China was valued at approximately 0.03 billion yuan in 2020, followed by 2022 (0.2 billion yuan) and 2023 (2 billion yuan).
- Smart Mirror Statistics also show that the market is projected to experience significant growth and is estimated to reach around 5.1 billion yuan by 2024 and 11.2 billion yuan by 2025.
Smart Mirror’s Product Development And Innovations Statistics
#1. Integration of AI and IoT
- Smart mirrors are increasingly incorporating AI and IoT functionalities, making them central hubs in smart homes and commercial settings.
- In 2024, AI-powered features such as facial recognition, voice control, and gesture recognition will be standard in newer models.
- These functionalities allow users to interact with the mirror through natural language commands, enhancing convenience and efficiency.
#2. Augmented Reality (AR) Applications
- AR features have emerged as a key innovation in the smart mirror space, particularly in the retail and beauty industries.
- In 2024, AR capabilities will likely be integrated into over 50% of new smart mirror models, especially those designed for commercial spaces.
#3. Health and Wellness Features
- The health and wellness trend is significantly influencing smart mirror product development in 2024.
- Smart mirrors now come equipped with health monitoring systems that track vital signs, fitness progress, and even skin health.
#4. Automotive Smart Mirrors
- Automotive smart mirrors will see major technological upgrades in 2024, driven by the rise of electric and autonomous vehicles.
- These mirrors now incorporate ADAS (Advanced Driver Assistance Systems), which provide features like blind-spot detection, lane-departure warnings, and real-time camera feeds to enhance driver safety.
- Magna International introduced its ClearView system, which combines camera and mirror technologies to reduce blind spots. This feature has gained traction in the market, and the system is being integrated into several Ram 2500 and 3500 truck models.
#5. Sustainability and Customization
- Customization is another key trend in the smart mirror market for 2024.
- Companies like Seura Solutions have introduced customizable vanity mirrors that allow consumers to personalize designs and functionalities based on their specific needs.
- Additionally, sustainability is becoming a focus, with manufacturers exploring eco-friendly materials and energy-efficient technologies to meet consumer demand for greener products.
- Customizable smart mirrors are expected to make up 15% of the total market by 2025.
Conclusion
Smart mirrors are quickly changing different industries, from homes and gyms to stores and cars. They combine advanced technology with everyday use, making them popular for people who want convenience, safety, and other effectiveness. With new developments in AI, IoT, and health tracking, the smart mirror market will keep growing in 2024 and beyond.
As companies add more exciting features, smart mirrors will become an important part of smart homes and connected devices, improving how we interact with our environment.
FAQ.
- Fitness tracking and workout guidance
- Displaying weather, news, and calendar updates
- Virtual try-on in retail stores
- Monitoring health metrics, such as heart rate and skin condition
- Safety features in cars, such as blind-spot detection
Most smart mirrors are easy to install, but advanced models may need professional help, especially with smart home integration.
Basic mirror features work without the internet, but things like data updates, voice control, and fitness tracking need it.
Maitrayee, after completing her graduation in Electrical Engineering, transitioned into the world of writing following a series of technical roles. She specializes in technology and Artificial Intelligence, bringing her experience as an Academic Research Analyst and Freelance Writer, with a focus on education and healthcare under the Australian system. From an early age, writing and painting have been her passions, leading her to pursue a full-time career in writing. In addition to her professional endeavors, Maitrayee also manages a YouTube channel dedicated to cooking.
