The global AR/VR smart glasses market is anticipated to grow at a CAGR of 16.2 % during the forecast period (2022-2028). Wearable devices that operate as a human-computer interface are known as AR/VR smart glasses. Smart glasses contain a variety of functions that enable users to examine data relevant to their environment. In recent years, AR/VR smart glass technology has advanced dramatically which had positively supported the market growth during the forecast period. Manufacturing, shipping, field service, inspection, and operation are just a few of the industries where AR/VR smart glass technology is currently making strides.
Some driving factors for the global AR/VR smart glasses market are:
- During the forecast period, advances in artificial intelligence (AI) and machine vision, together with big data and analytics, are projected to create prospects for the AR/VR smart glasses market. Face and object tracking enhancements, speech recognition for input, and other AR and VR features will improve and expand in popularity, over the forecast period.
- The global AR/VR smart glasses market is being driven by expanding trends toward industry 4.0 and increased demand for AR/VR technology in the gaming industry. Furthermore, the global AR/VR smart glasses market will likely benefit from future trends such as 5G technology and a growing shift toward digitization.
North American region is expected to hold a significant share in the AR and VR smart glasses market due to the presence of major industry participants. The players in the region are continuously developing and expanding products line which will help the market to grow significantly. The Asia-Pacific region is predicted to be the fastest-growing region during the forecast period due to the increased usage of smart glasses in the manufacturing and industrial sectors. Moreover, raising public awareness regarding benefits of using AR/VR smart glasses technology is further growing the market during the forecast period.
Some major players in the market include Avegant, Seiko Epson Corp., Everysight Ltd., Kopin Corp., and Lumus, among others. The market players are also contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new product launches, in order to stay competitive in the market. For instance,
- In April 2022, Nreal, a Chinese augmented reality (AR) startup, launched its smart glasses in the UK. Users watch movies or play games on big virtual displays with Nreal’s eyewear. Users do so by using a cord to link the glasses to their smartphones.
- In September 2019, In conjunction with luxury eyewear maker Luxottica by Ray-Ban, Facebook unveiled its first AR smart glasses. Project Aria, a research project run by Facebook’s Reality Labs, is in charge of the product’s R&D.
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Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Type
- By End-User
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
Competitive Landscape- Avegant, Seiko Epson Corp., Everysight Ltd., Kopin Corp., Lumus, among others.
A full report is available at: https://orionmarketreports.com/global-ar-vr-smart-glasses-market/112568/
Global AR/VR Smart Glasses Market Report by Segment
By Type
- Optical See-Through
- Video See-Through
End-User
- Gaming Industry
- Healthcare
- Education
- Military & Defense
- Others
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
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