AR and VR smartglasses market is estimated to exhibit high growth potential during the forecast period owing to its increasing demand across various industry verticals. Rising demand among the enterprises for AR and VR smartglassess is driving the growth of the market. Additionally, innovations and advancements in technology, and increasing use of cloud technologies is adding fuel to the growth of the AR and VR Smart Glasses Market.
The company focusses on offering innovative solutions and keeps up with the fast pace of the technological advancements. Increasing trend of cloud-based technologies and increasing awareness regarding virtual reality and augmented reality applications are the major factors driving the growth of the market. ODG in partnership with Qualcomm has launched the first augmented reality smartglasses powered by new snapdragon 835 processor. The focus towards the promotion of virtual and augmented reality is increasing due to the convenience and creativity being provided to the consumers and growing trend of digitalization is another factor fueling the growth of AR and VR Smart Glasses Market.
The global AR and VR smartglasses market is segmented on the basis of device type, product, and application. The device type segment is further classified into binocular and monocular. The binocular type sub-segment is expected to hold the largest market share of the AR and VR smartglasses market. Whereas, monocular type sub-segment is expected to grow at the highest rate during the forecast period. However, the high costs of the product may hamper the market growth.
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Major Key Players:
- Seiko Epson Corporation (Japan)
- Microsoft Corporation (U.S.)
- Osterhout Design Group (U.S.)
- Samsung Group (South Korea)
- Royole Corporation (U.S.)
- Optinvent (France)
- MicroOLED (France)
- Ricoh (Japan)
- Kopin Corporation (U.S.)
- Imprint Energy, Inc. (U.S.)
- FlexEl, LLC. (U.S.)
- Sony Corporation (Japan)
- HTC Corporation (Taiwan),
- Razer Inc. (U.S.)
- Avegant (U.S.)
- Google Inc. (U.S.)
- Oculus VR (U.S.)
- Vuzix (U.S.)
- Jenax (South Korea)
- Atheer (U.S.)
Market Research Analysis:
North America is estimated to account for the largest share of the market, whereas European market is projected to grow at the fastest rate during the forecast period. The North American market is witnessing a rapid growth due to technological advancements and increasing demand for augmented reality and virtual reality development platforms across different industry verticals in this region.
The U.S. holds the majority of market share both in terms of revenue as well as the adoption of cloud-based technologies.
The global AR and VR smart glasses market is studied for Asia Pacific, North America, Europe, and Rest of the World. It has been observed that North America is estimated to account for the largest share of the market, whereas Europe is projected to grow at the fastest rate during the forecast period.
The North American market growth is attributed to technological advancements and increased adoption of cloud-based technologies across various industry verticals.
AR and VR Smart glasses Market Segmentation:
The global AR and VR smart glasses market is segmented on the basis of device type, product, and application. The application segment is classified as gaming, education, military, industrial, and commercial.
However, the commercial segment is expected to hold the largest market share of the AR and VR smart glasses market owning to the increasing demand for augmented reality and virtual reality applications in the e-commerce and retail sectors.
The global AR and VR smart glasses market is segmented by device type, product, and application. Based on the device type, the market is segmented into binocular and monocular.
Based on the product, the market is segmented into mobile phone smart glasses, integrated smart glasses, and external smart glasses. Whereas, based on the application, the market is segmented into gaming, education, military, industrial, and commercial.
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- Technology Investors
- Research/Consultancy firms
- Technology Solution Providers
- Government Bodies
- Hospitality Sector
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