Press release
AR And VR Smart Glasses Market Research, Size, Share, Growth, Major Companies And Forecast 2033
AR And VR Smart Glasses Market
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.
Market Overview -
Augmented reality (AR) smart glasses are wearable computer-capable eyewear that adds more information ideally 3D visuals and information like animations and videos to the user's real-world settings by superimposing the computer-generated or digital information on their surroundings. Virtual reality glasses or goggles are one type of eyewear that also doubles as a display. They enable the wearer to browse through a gallery of digital images that they can then manipulate.
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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.
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.
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Key Segments -
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
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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