How Big is the Market for AR VR Smart Glasses?
In 2022, the market for AR and VR smart glasses was valued at US$14.6 billion. Looking ahead, IMARC Group projects that the market will develop at a compound annual growth rate (CAGR) of 13.5% between 2023 and 2028, reaching US$ 30.7 billion.
What do the terms “augmented reality” and “virtual reality” refer to?
Smart glasses that connect the virtual and physical worlds are referred to as AR (augmented reality) and VR (virtual reality) spectacles. By altering perspectives or altering images of the real environment, augmented reality glasses help users with everyday chores and improve their ability to express themselves. Contrarily, VR glasses provide an intense virtual experience, enabling users to simulate the excitement of being in a real place. With these glasses, users can augment their real world, share their point of view in real time, exchange data, exchange data, and record films, still photographs, and audio remotely. Users can also examine data pertinent to their immediate environment. These glasses can therefore complement and replace current technological solutions in company supply chains, enhancing compliance, productivity, and efficiency at work.
Market Trends and Drivers for AR and VR Smart Glasses:
The market for AR and VR smart glasses is primarily being driven by the rising demand for this technology across a range of end-use industries, including healthcare, military, e-commerce, defense, and education. In addition, ongoing developments in the fields of artificial intelligence (AI), the Internet of Things (IoT), Big Data, and analytics are contributing to the market’s expansion. In addition, the increasing demand for virtual and augmented reality games and the growing number of players are both major growth-inducing drivers.
Competitive Environment:
The report’s analysis of the market’s competitive landscape includes thorough profiles of the major organizations operating there.
- Avent Corp.
- Elbit Systems Ltd.’s Everysight Ltd.
- Corporation HTC
- Corporation Kopin
- Windows Corporation
- Optinvent
- Seiko Epson Business
- Sony Group Corporation’s Sony Interactive Entertainment LLC
- Vuzix.
The market has been divided into segments based on type and end use in the study.
Separation by Type:
- See Through Optics
- See-through video
Division by End Use:
- Gaming Sector
- Medical care
- Instruction
- Defense and the military
- Others
Division by Region:
- North America (Canada and the United States)
- Asia-Pacific (including China, Japan, India, South Korea, Australia, Indonesia, and other countries)
- Europe (Germany, France, Italy, Spain, Russia, and other countries)
- Brazil, Mexico, and other nations in Latin America
- Africa and the Middle East.
