AR and VR Smart Glasses Market Size 2022 | Worth US$ 28.3 Billion by 2027 | Growth Rate (CAGR) of 13.20% | IMARC Group

The latest research study "AR and VR Smart Glasses Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" by IMARC Group, finds that  the global AR and VR smart glasses market size reached US$ 12.86 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 28.3 Billion by 2027, exhibiting a growth rate (CAGR) of 13.20% during 2022-2027.

Virtual reality (VR) and augmented reality (AR) glasses refer to smart glasses that connect the physical and digital worlds. AR glasses help users with everyday tasks and improve their ability to express themselves while changing images or modifying real world views. On the other hand, VR glasses offer an immersive virtual environment that allows users to experience being in an actual location. AR and VR glasses enable individuals to access information hands-free, exchange data, remotely record still images, videos, and audio, share their point of view in real-time and enhance their real world. They also allow users to analyze information relevant to their surroundings. As a result, AR and VR smart glasses are widely used to enhance workplace efficiency, productivity, and compliance as they can improve and replace existing technology solutions within enterprise supply chains.

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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

AR and VR Smart Glasses Market Trends and Drivers:

The global AR and VR smart glasses market is primarily driven by the surging adoption of AR and VR technology in numerous end use industries, including military and defense, e-commerce, healthcare, and education. Moreover, continuous advancements in machine learning (ML), the internet of things (IoT), and artificial intelligence (AI), along with big data and analytics, are positively influencing market growth. Additionally, the increasing improvements in mobile applications, rapid digitization, and the advent of high-speed 5G internet have catalyzed market growth. Besides this, the rising demand for AR and VR games and an increasing number of gamers have accelerated the product adoption rate. Furthermore, numerous product innovations, such as the integration of 360-degree video and 3D interactive content, improved face and object tracking, and enhanced speech recognition, are contributing to the market growth. Other factors, including ongoing research and development (R&D) activities, the emergence of industry 4.0, rapid industrialization, and inflating disposable income levels, are also anticipated to propel the market growth.

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AR and VR Smart Glasses Market 2022-2027 Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

Avegant Corp., Everysight Ltd. (Elbit Systems Ltd.), HTC Corporation, Kopin Corporation, Microsoft Corporation, Optinvent, Seiko Epson Corporation, Sony Interactive Entertainment LLC (Sony Group Corporation) and Vuzix.

The report has segmented the market on the basis of type and end use.

Breakup by Type:

Optical See Through
Video See Through

Breakup by End Use:

Gaming Industry
Healthcare
Education
Military and Defense
Others

Breakup by Region:

North America: (United States, Canada)
Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America: (Brazil, Mexico, Others)
Middle East and Africa

Key highlights of the report:

Market Performance (2016-2021)
Market Outlook (2022- 2027)
Porter's Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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