Overview and Scope
Augmented reality (AR) smart glasses are wearable computer-capable eyewear that adds more information ideally 3D visuals and information like animations and videos to the user’s real-world settings by superimposing the computer-generated or digital information on their surroundings. Virtual reality glasses or goggles are one type of eyewear that also doubles as a display. They enable the wearer to browse through a gallery of digital images that they can then manipulate.
Sizing and Forecast
The ar and vr smart glasses market size has grown rapidly in recent years. It will grow from $15.93 billion in 2023 to $18.58 billion in 2024 at a compound annual growth rate (CAGR) of 16.6%. The growth in the historic period can be attributed to gaming and entertainment applications, enterprise adoption, increased mobile connectivity, r&d investments, healthcare and medical applications.
The ar and vr smart glasses market size is expected to see rapid growth in the next few years. It will grow to $34.62 billion in 2028 at a compound annual growth rate (CAGR) of 16.8%. The growth in the forecast period can be attributed to 5g network expansion, industrial and manufacturing applications, e-commerce and retail integration, health and wellness solutions, collaboration and remote work tools. Major trends in the forecast period include advancements in display technology, integration of 5g connectivity, enterprise applications and industry solutions, form factor and design innovation, extended reality (xr) convergence.
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Segmentation & Regional Insights
The ar and vr smart glasses market covered in this report is segmented –
1) By Type: Optical See Through, Video See Through
2) By Device Type: Binocular, Monocular
3) By Product: Mobile Phone Smart Glasses, Integrated Smart Glasses, External Smart Glasses
4) By End Use: Gaming Industry, Healthcare, Education, Military And Defense, Other End Users
North America was the largest region in the AR And VR smart glasses market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global AR and VR smart glasses market report during the forecast period. The regions covered in the ar and vr smart glasses market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
An increasing number of gamers is expected to propel the growth of the AR and VR smart glasses market going forward. Gaming is the term used to describe the activity of playing video games online, on a dedicated gaming console, computer, or smartphone, and gamers are individuals who play video games. Smart glass is utilized as a head-up display to simulate a giant screen for gaming. For instance, in March 2023, according to a blog shared by Cybercrew UK, a UK-based online audio and video media company, the number of gamers in the UK had grown by 63% since the 2021 lockdown. Consumers who play video games spent $5.2 billion on them in 2020. It is the first time video game sales in the UK have surpassed $5 billion. By 2025, revenue might reach $7.6 million. Furthermore, according to Invest India, an India-based national investment promotion and felicitation agency, online gaming revenue increased by 28% in 2021 to $1.2 billion, and it is anticipated to reach $1.9 billion by 2024. Therefore, an increasing number of gamers is driving the growth of the AR and VR smart glasses market.
Key Industry Players
Major companies operating in the ar and vr smart glasses market report are Seiko Epson Corporation, Samsung Electronics Co. Ltd., Optinvent SA, Ricoh Company Ltd., Microsoft Corporation, Avegant Corporation, Everysight Ltd., Kopin Corporation, HTC Corporation, Sony Interactive Entertainment LLC, Vuzix Corporation, Royole Corporation, Lumus Ltd., RealWear Inc., Google LLC, Atheer Inc., Meta Platforms Inc., DAQRI, Pico Interactive Inc., Acer Inc., Lenovo Group Limited, Osterhout Design Group Inc., Rokid Corporation Limited, Ubimax GmbH, ThirdEye Gen Inc., Nreal (Beijing) Technology Co. Ltd., Mad Gaze, Ximmerse, ViewAR GmbH, Magic Leap Inc.
The ar and vr smart glasses market report table of contents includes:
1. Executive Summary
2. AR And VR Smart Glasses Market Characteristics
3. AR And VR Smart Glasses Market Trends And Strategies
4. AR And VR Smart Glasses Market – Macro Economic Scenario
5. Global AR And VR Smart Glasses Market Size and Growth
….
31. Global AR And VR Smart Glasses Market Competitive Benchmarking
32. Global AR And VR Smart Glasses Market Competitive Dashboard
33. Key Mergers And Acquisitions In The AR And VR Smart Glasses Market
34. AR And VR Smart Glasses Market Future Outlook and Potential Analysis
35. Appendix
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