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.
Virtual reality and augmented reality glasses are examples of smart glasses that connect the virtual and real worlds. They can share their point of view in real-time, record videos, still photos, and audio remotely, trade data, access information hands-free, etc. AR glasses help users express themselves more clearly and assist them with daily tasks. People might feel as though they are physically present thanks to the intense virtual experience provided by VR glasses. Accordingly, they can improve and possibly take the place of current technological solutions in business supply chains. These glasses increase workplace productivity, compliance, and efficiency.
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 augmented and virtual reality games and the rise in gamers. Additionally, the market expansion is being supported by the increasing adoption of 5G internet with high speed, the expanding digitization, and ongoing improvements in mobile applications. Another important growth-promoting aspect is the increasing use of AR and VR technologies in a variety of sectors, such as healthcare, military and defense, e-commerce, education, etc. Additionally, major market players are fusing big data analytics with artificial intelligence (AI), machine learning (ML), and the internet of things (IoT), which is positively impacting the global market.
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. d/b/a Everysight Ltd.
The HTC Company
Corporation Kopin
Windows Corporation
Optinvent
Corporation Seiko Epson
(Sony Group Corporation) Sony Interactive Entertainment LLC
Vuzix.
The market has been divided into segments based on type and end use in the study.
Separation by Type:
Laser See Through
Seeing Through Videos
Division by End Use:
Gaming sector
Healthcare
Education
Armed forces and defense
Others
Division by Region:
North America: (Canada and the United States)
China, Japan, India, South Korea, Australia, Indonesia, and other countries in Asia-Pacific
Germany, France, the United Kingdom, Italy, Spain, Russia, and other countries in Europe
Latin America: (Mexico, Brazil, and Other)
Europe, Asia, and Africa
