The global AR/VR smart glasses market was valued at $8.31 billion in 2019, and is projected to reach $33.16 billion by 2027, registering a CAGR of 16.6% from 2020 to 2027. Virtual reality (VR) technology enables the users and provides a virtual environment by using computer hardware and software. It provides a fully immersive environment in which the user can interact with objects similar to those in the real world. VR technology works on components such as gesture recognition systems, sensors, and embedded electronics.
AR/VR glasses are the most common gear that introduces us to the AR and VR world. Increasing trends of e-commerce and mobile application technology are the major factors that may bring evolution in the AR/VR smart glasses market. The inability of the user interface (UI) of AR glass to properly interact with humans is one of the limiting factors for the growth of the AR/VR smart glasses market.
The scope of the report discusses potential opportunities for key players to enter the AR/VR smart glasses market. Furthermore, it provides an in-depth analysis of the market, outlining current trends, key driving factors, and key areas of investment. The report includes Porter’s five forces analysis to understand the competitive scenario of the industry and role of each stakeholder in the value chain. Moreover, it features strategies adopted by key market players to maintain their foothold in the market.
The AR/VR smart glasses market is segmented based on type, end use, and region. By type, the market is bifurcated into optical see through and video see through. By end use, it is analyzed across gaming industry, healthcare, education, military & defense and others. Based on region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA along with their prominent countries.
The key players profiled in the AR/VR smart glasses market include Avegant, Epson, Everysight Ltd, Kopin Corporation, Lumus Ltd, Optinvent, RealWear, Ricoh Company Ltd., Royale Corporation, and Vuzix.
These key players have adopted strategies, such as product portfolio expansion, mergers & acquisitions, agreements, regional expansion, and collaboration, to enhance their market penetration.
KEY BENEFITS FOR STAKEHOLDERS
- This study includes the analytical depiction of the AR/VR smart glasses market forecast along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information regarding the key drivers, restraints, and opportunities in the AR/VR smart glasses market analysis.
- The AR/VR smart glasses market trends are quantitatively analyzed from 2019 to 2027 to highlight the financial competency of the industry.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the industry.
KEY MARKET SEGMENTS
- Optical See Through
- Video See Through
By End Use
- Gaming Industry
- Military & Defense
- North America
- ·Rest of Europe
- ·Rest of Asia-Pacific
- ·Latin America
- ·Middle East