The latest research study “AR and VR Smart Glasses Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global AR and VR smart glasses market size reached US$ 12.86 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 28.3 Billion by 2027, exhibiting a growth rate (CAGR) of 13.20% during 2022-2027.
AR and VR glasses represent smart glasses that are used by wearers to record still images, videos, and audio remotely, share their point of view in real-time, access information hands-free, exchange data, etc. AR glasses aid individuals with everyday tasks and allow them to express themselves more effectively. VR glasses offer an immersive virtual experience, thus enabling them to feel being in an actual location. Users can analyze information suitable to their surroundings through these glasses. Consequently, they can improve and even replace existing technology solutions within enterprise supply chains, thereby enhancing workplace efficiency, productivity, compliance, etc.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
AR and VR Smart Glasses Market Trends and Drivers:
Continuous advancements in artificial intelligence (AI), machine learning (ML), and the Internet of Things (IoT) are among the key factors driving the AR and VR smart glasses market. Additionally, the growing number of gamers and the escalating demand for augmented and virtual reality games are further catalyzing the market growth. Besides this, the rising utilization of AR and VR technology in several industries, including e-commerce, healthcare, military and defense, education, etc., is acting as another significant growth-inducing factor. Moreover, the emerging trend of digitization, the increasing penetration of high-speed 5G internet, and the development of mobile applications are also positively influencing the global market. Apart from this, the elevating integration of 3D interactive content with 360-degree video, enhanced face and object tracking, better speech recognition, etc., is propelling the market growth. Furthermore, the introduction of industry 4.0 and the inflating disposable income levels are expected to fuel the AR and VR smart glasses market in the coming years.
AR and VR Smart Glasses Market 2022-2027 Analysis and Segmentation:
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) and 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
- Military and Defense
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 (2016-2021)
- Market Outlook (2022- 2027)
- 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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