AR and VR Smart Glasses Market Size, Trends, Growth, Forecast 2023-2028
IMARC Group, a leading market research company, has recently releases report titled "AR and VR Smart Glasses Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" by IMARC Group, finds that the global AR and VR smart glasses market size reached US$ 14.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 30.7 Billion by 2028, exhibiting a growth rate (CAGR) of 13.5% during 2023-2028.
What is AR and VR Smart Glasses?
AR (augmented reality) and VR (virtual reality) glasses represent smart
glasses that bridge the gap between the digital and physical worlds. They can
record videos, still images, and audio remotely, share their point of view in
real-time, exchange data, access information hands-free, etc. AR glasses aid
users with everyday tasks and allow them to express themselves more
effectively. VR glasses offer an immersive virtual experience, thereby enabling
individuals to feel the experience of being in an actual location. In line with
this, they can enhance and even replace existing technology solutions within
enterprise supply chains. These glasses improve workplace efficiency,
productivity, compliance, etc.
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AR and VR Smart Glasses Market Trends and Drivers:
The growing demand for augmented and virtual reality games and the
increasing number of gamers are primarily driving the AR and VR smart glasses
market. Additionally, the rising penetration of high-speed 5G internet, the
inflating digitization, and continuous advancements in mobile applications are
further bolstering the market growth. Besides this, the widespread adoption of
AR and VR technology in several industries, including healthcare, military and
defense, e-commerce, education, etc., is acting as another significant
growth-inducing factor. Moreover, key market players are integrating Artificial
Intelligence (AI), Machine Learning (ML), and the Internet of Things (IoT) with
big data and analytics, which is positively influencing the global market.
Apart from this, extensive investments in R&D activities are also
stimulating the market growth. Furthermore, the development of 3D interactive
content with enhanced face and object tracking, 360-degree video, and better
speech recognition is projected to fuel the AR and VR smart glasses market in
the coming years.
AR and VR Smart Glasses Market 2023-2028 Analysis and Segmentation:
Competitive Landscape:
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)
- 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
- Healthcare
- Education
- Military
and Defense
- Others
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
- Market Outlook
- 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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