AR and VR Smart Glasses Market Expected to Reach at High Pace by 2023 | Know COVID-19 Analysis | Top Companies- Microsoft, Seiko Epson Corporation

The AR and VR smart glasses market witnesses rapid expansion across the globe. The market growth attributes to the high adoption of cloud-based technologies and the huge popularity of smart glasses in entertainment. Besides, the increasing demand for smart glasses in gaming, education, industrial military, and others applications drive the growth of the market. Moreover, the emergence of AR-powered smart glasses in smartphones and other intelligent devices escalate market growth.

In its recently published industry analysis, Market Research Future (MRFR) asserts that the global AR and VR smart glasses market valuation is poised to touch USD 31 BN by 2023, growing at over 13% CAGR throughout the forecast period (2017-2023). The market demonstrates significant growth opportunities. Increasing investments in the development of AR and VR smart glass technology substantiate the growth of the market.

Other major factors fostering the growth of the market include extended applications of AR and VR smart glass in aviation, marine, solar power, and the electronics sector. Additionally, rising investments transpired into R&D activities to bring more advancement in the technology have favored the market expansion, lowering technology prices.

AR and VR Smart Glasses Market- Competitive Landscape
Highly competitive, the AR and VR smart glasses market appears to be diversified with the presence of many well-established players having a regional and global presence. Players incorporate acquisition, partnership, collaboration, expansion, product & technology launch in order to gain competitive advantage and to stay at the market forefront. There are two kinds of new entrants in the market established companies from adjacent industries and technology startups.

Major Players:
Players leading the global AR and VR smart glasses market include Microsoft Corporation (US), Seiko Epson Corporation (Japan), Osterhout Design Group (US), Royole Corporation (US), Samsung Group (South Korea), Optinvent (France), Ricoh (Japan), Kopin Corporation (US), MicroOLED (France), Imprint Energy, Inc. (US), Sony Corporation (Japan), FlexEl, LLC. (US), HTC Corporation (Taiwan), Avegant (US), Razer Inc. (US), Google Inc. (US), Vuzix (US), Oculus VR (US), Atheer (US), and Jenax (South Korea), among others.

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AR and VR Smart Glasses Market Segmentation
By Device Type : Monocular and Binocular.
By Product : Integrated Smart Glasses, Mobile Phone Smart Glasses, External Smart Glasses, and others.
By Application : Gaming, Education, Industrial Military, and others.
By Regions : Americas, Europe, Asia Pacific, and the Rest-of-the-World.

AR and VR Smart Glasses Market - Regional Analysis
North America dominates the global AR and VR smart glasses market. The largest market share attributes to the presence of many well-established industry players and infrastructure in the region, allowing faster implementation of advanced technologies.

Besides, the rising technological advances, alongside the increasing popularity of GPRS and server-cloud enabled AR & VR smart glasses, drive market growth. The North American AR and VR smart glasses market is projected to retain its dominance throughout the estimated period.
Europe stands second in the global AR and VR smart glasses market. The market growth is driven by the increasing popularity of these glasses and colossal investment by major key players. Additionally, Supportive government policies and the presence of key players propel the growth of the regional market. The European global AR and VR smart glasses market is expected to create a substantial revenue pocket during the assessment period.

Industry/ Innovation/ Related News:
October 26, 2020 ---- PhotonLens (the UK), an Augmented Reality startup, and Shadow Creator (China), an AR hardware company, announced an ODM partnership to co-design the first smart glass with dual 6 DoF controllers and Qualcomm Snapdragon XR Platform. PhotonLens would serve as the co-designer and global distributor of Photons, smart glass, and lightweight active gaming systems.

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Major Highlights of TOC Covers:
1. Executive Summary
2. Key Business Trends
3. Regional Trends and Growth
4. Product Trends
5. End-use Trends
6. Definition and Forecast Parameters
7. AR and VR smart glasses Market Segmentation
8. AR and VR smart glasses Market Landscape
9. Vendor Matrix
10. Company Profiles
11. Business Overview
Continued...…

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This release was published on openPR.