Smart Glasses Market - Future of Wearable Technology

Smart glasses are wearable glasses with integrated computer which supports Bluetooth, Wi-Fi and GPS. These glasses possess all the features of a smart phone and can display the information on glass screen. Moreover, they also offer functions such as activity tracker that tracks heartbeat counts, calories burned, distance covered, etc.

Smart glasses are employed with various technologies consisting of wearable computing, 4G technology, android technology, virtual and augmented reality, eye tap technology, etc. The smart glass also has a video display, a camera, a speaker, touchpad, and microphones. The glasses have gained importance owing to their ability of thermal & acoustic insulation, energy conservation, along with 3D design proposition. Human computer interface control, which allow the individual control the product can be provided through three main inputs, which includes hand-held, touch, and touchless input. This consists of touchpad or buttons, compatible devices (e.g. smartphones or control unit) for remote control, speech recognition, gesture recognition, eye tracking and brain computer interface, etc. Several companies have launched their smart glasses including Google’s Google glass, Microsoft’s Hololense, Vuzix’s Smart glasses, etc.

Growing demand for smart glasses in healthcare applications, emerging applications of smart glasses integrated with virtual and augmented reality are the major factors fueling the growth of global smart glasses market. Additionally, rising demand of head-mounted display in entertainment and gaming sector is also projected to enhance the demand for smart eyewear technology over the forecast period.

The smart glasses market is bifurcated based on the display technology, operating system, application and region. Based on the technology, the market is further segmented as diffractive waveguide, holographic waveguide, polarized waveguide, reflective waveguide and others. Diffractive waveguide consists of slanted diffraction grating elements and Holographic waveguide has three holographic optical elements (HOE) packed together. This technology is used by Sony and Konica Minolta. Polarized waveguide consists of six multilayer coated polarized reflectors in glass package, while reflective waveguide is thick light guide with single semi reflective mirror whereas Epson employs this technique in their Moverio product.

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The market is further segmented based on the operating system as android, windows and others. Android is expected to have largest market share and is expected to continuously grow during the forecast period. Android is the most used OS, as most smartphones are powered with android, which are connected to smart glasses. Among the major smart glass providers, almost all of them including Google glass, Vuzix, etc. are powered by android systems.

The global smart glasses market is further categorized based on its application, which includes consumer enterprise, manufacturing, healthcare, military & defense, warehouses, construction and architecture and others. The application of smart glass in construction sector is developing, the process of sight visit, the certification process can be omitted by using the glasses on a construction site or in the field, and anyone can connect from afar for sightseeing. Smart glass’s application in healthcare is expected to be the most dominating segment and are now combined with virtual and augmented reality, thus helping to treat patients with mental disorders

Geographically, the smart glasses market is bifurcated into North America, Europe, Asia Pacific, Middle East and Africa and Latin America. It also includes countries/regions such as the U.S, the U.K., Germany, France, Japan, China, India, GCC, North Africa, South Africa and Brazil. North America is anticipated to dominate the market, in terms of revenue, as major players investing in the technology belong to this region, as well as, increasing research and development work in North America, due to availability of major research institutes and laboratories in the region.

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Major players in the global smart glasses market includes, Microsoft, Google, Vuzix, Toshiba, Epson, Samsung, Chemion, Wiseup and Phevos,. In May 2018,Toshiba commercialized their first wearable AR smart glasses, which are designed for business and industrial applications. The Toshiba dynaEdge AR is a highly-integrated solution, which consists of a head mounted display, a PC module and software that are designed to offer out-of-box functionality and supporting custom applications.

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