Created by: MarketsandMarkets

Aug 2022

Smart Mirror Market

Size, Trends, Forecast (2022-2027)

Smart Mirror Market

Size, Trends, Forecast (2022-2027)

Global smart mirror market size is estimated to be USD 2.7 billion in 2022 and is projected to reach USD 5.9 billion by 2027, at a CAGR of 16.8% during the forecast period

Driver

Alternative to convex mirrors for enhanced safety features in automobiles

Smart Mirror Market

Dynamics

Restraint

Security breach of confidential and personal data

Opportunity

Transition from traditional stores to digital stores in retail industry

Challenge

Lack of awareness about smart mirrors

Europe to dominate the market during the forecast period due to increasing adoption of smart mirrors

Europe is expected to lead the smart mirror market between 2022 and 2027. Some of the major factors propelling market growth in Europe include increasing adoption of Electric Vehicles (EVs) in the region, and emphasis on automation of various end-use industries including automotive and retail.

Key Market Players

Gentex Corporation (US), Ficosa (Spain), Seura Solutions (US), Magna International (Canada), Japan Display Inc. ("JDI") (Japan), Murakami Kaimeido (Japan), Harman International Industries (US), ad notam (Germany), Dension (Hungary), and Keonn Technologies (Spain)

In January 2022, Seura Solutions launched vanity mirrors for every category to match every lifestyle. Séura vanity mirrors are tailor-made and expertly crafted for an entirely personalized reflection.

In September 2021, Gentex Corporation (NASDAQ: GNTX) acquired the Israeli start-up Guardian Optical Technologies, a pioneer in multimodal sensor technology designed to provide a comprehensive suite of driver- and cabin-monitoring solutions for the automotive industry.

In May 2021, Séura, a US-based designer technology company, released its latest developments in high-tech lighted mirrors for a broad range of applications from residential use to the hospitality industry.
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