Press release
AR And VR Smart Glasses Global Market Report 2024 - By Size, Share, Trends, Demand, Forecast To 2033
The Business Research Company offers in-depth market insights through AR And VR Smart Glasses Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth 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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Market Segmentation:
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
Major Driver - Rising Gamer Numbers Fuel Growth In Ar And Vr Smart Glasses Market
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.
Competitive Landscape:
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.
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Top Trend - Ar And Vr Smart Glasses Market Driven By Innovative Products
Product innovations are the key trends gaining popularity in the AR and VR smart glasses market. Major companies operating in the AR and VR smart glasses market are focused on developing innovative product solutions to strengthen their position in the market. For instance, in October 2022, Seiko Epson Corporation, a Japan-based electronics company, launched the Moverio BT-45C and BT-45CS devices, the newest generation of Moverio augmented reality (AR) smart glasses. The latest Moverio models offer immersive, hands-free cooperation between on-site workers and remote specialists and are specifically designed for mission-critical operations such as troubleshooting, maintenance, inspection, and training. This helps to increase efficiency, improve safety, and decrease downtime. The Moverio BT-45C and BT-45CS are equipped with brand-new Si-OLED (organic light emitting diode) technology, a proprietary optical engine, and a binocular see-through Full HD display with a 34° field-of-view (FoV) to seamlessly integrate digital content with the outside world. They are also compatible with a wide range of collaboration and remote assistance software.
The Table Of Content For The Market Report Include:
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. AR And VR Smart Glasses Market Size And Growth
…..
27. AR And VR Smart Glasses Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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