Press release
AR and VR Smart Glasses Market Share 2023, Size ($ 30.7 Bn), Trends, Forecast Report 2028
AR and VR Smart Glasses Market Trends 2023
The global AR and VR smart glasses market size reached US$ 14.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 30.7 Billion by 2028, exhibiting a growth rate (CAGR) of 13.5% during 2023-2028.
What is AR (augmented reality) and VR (virtual reality) glasses?
AR (augmented reality) and VR (virtual reality) glasses refer to the smart glasses that bridge the gap between the digital and physical worlds. AR glasses aid in modifying views or changing images of the real world while assisting users with everyday tasks and enabling them to express themselves more effectively. In contrast, VR glasses offer an immersive virtual experience, thus allowing users to feel the adventure of being in an actual location. With these glasses, wearers can record videos, still images, and audio remotely, access information hands-free, exchange data, share their point of view in real-time and augment their real world. In addition to this, users can analyze information relevant to their surroundings. As a result, these glasses can enhance and replace existing technology solutions in enterprise supply chains, thereby improving workplace productivity, efficiency, and compliance.
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AR and VR Smart Glasses Market Trends and Drivers:
The escalating demand for this technology in various end-use industries, including healthcare, military, e-commerce, defense, and education, is primarily driving the AR and VR smart glasses market. Besides this, continual advancements in artificial intelligence (AI) and the Internet of Things (IoT), in combination with Big Data and analytics, are further augmenting the market growth. Moreover, various innovations in AR and VR glasses, such as the incorporation of 3D interactive content with enhanced face and object tracking, 360-degree video, and better speech recognition, are also catalyzing the global market. Apart from this, the elevating requirement for virtual and augmented reality games and the rising number of gamers are acting as significant growth-inducing factors. Additionally, the expanding Industry 4.0 and the emerging trend of industrialization are also stimulating the market growth. Furthermore, the increasing penetration of high-speed 5G internet and the development of mobile applications are expected to bolster the AR and VR smart glasses market in the coming years.
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)
• 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
• Market Outlook
• 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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Contact US
IMARC Group
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Email: sales@imarcgroup.com
Follow us on Twitter: @imarcglobal
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About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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