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The Global Smart Glasses Market size is estimated to grow by USD 76.5 million, at a CAGR of 13.84% between 2023 and 2028. Smart glasses are fitted with a small display and can also be used as conventional glass. They function like helmet-mounted displays but are sleeker than them. In this market size analysis report, the devices have a see-through display and resemble a pair of normal eyeglasses. These devices use Augmented Reality (AR) technology that blends digital content with the physical world. Devices such as Microsoft's HoloLens are used to display computer-generated images in a user's field of vision and to provide relevant information about objects in the real world. The metaverse is set to further drive the smart glasses market, providing users with AR experiences in virtual spaces. It allows the user to scan the real-world environment and provides an enhanced or augmented experience by adding computer-generated information. This market also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the market size analysis report includes historic market data from 2018 to 2022.
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The smart glass market research report is witnessing remarkable growth driven by advancements in technology and increasing demand for smart automation. With features like automatic tinting and electrochromic technology, smart glasses offer users the flexibility to control light, heat, and privacy levels. Heads-Up Display (HUD) and AR experiences enhance user interactions, while specialty glasses like SPD, electrochromic, and photochromic glass provide advanced functionalities. Wearable technology and miniaturization have enabled the development of lightweight and smart glasses, with applications ranging from autonomous vehicles to healthcare settings. With the integration of 5G technologies and sensors, smart glasses offer crystal-clear sound and experiences across various industries, including industrial and emergency room areas. In the dynamic smart glass market, smart glass technology is a key focus. The smart glasses market research report highlights emerging smart glasses market trends that are influencing e-learning. These trends underscore the potential for smart glasses to revolutionize educational methods, making learning more engaging and interactive. As demand grows for multifunctional optical devices like binoculars and smart glasses, the market continues to expand, catering to diverse consumer needs and enhancing operational efficiencies across sectors
The implementation of automation in the industrial sector is a major factor driving the growth in the market size analysis growth report. Automation plays a prime role in the manufacturing industry as automation solutions carry out complex manufacturing processes. Industrial automation enables high efficiency, the predictive maintenance of machines, and good safety; it also increases profitability. The growing implementation of automation across industries is providing possible opportunities for the use in industrial automation. Some manufacturers are adopting smart glass to close their skill gaps quickly and bring critical information to the front line of the workforce.
In October 2020, AGL Automation Ltd, a provider of process automation solutions, announced a partnership with Epson to introduce augmented reality into its portfolio using Epson's Moverio BT-350 smart glass. As the demand for industrial automation in factories rises, the need is expected to increase substantially, which will drive the growth of the global market.
The rise in the number of strategic partnerships and acquisitions is a key global market trend. The number of strategic partnerships and acquisitions is rising in the global market. Strategic partnerships and acquisitions enable vendors to improve their services, expand their geographic presence, strengthen their market position, and develop innovative products. Some examples related to strategic partnerships and acquisitions include:
Moreover, in February 2021, Vuzix Corporation, a leading supplier of Augmented Reality (AR) technology and products, announced a strategic partnership with Rods and Cones, a provider of a fully virtual surgical collaboration platform. Through this partnership, Rods and Cones will incorporate Vuzix's M-Series smart glass as an additional video-capturing device to support optimized remote interactions between surgeons and medical experts. The rise in the number of strategic partnerships and acquisitions will have a positive impact on the market as it will result in the production of efficiency that will be compatible with advanced technologies and components. Such factors will increase the market growth and trends during the forecast period.
The high initial cost is a major factor hindering the market growth in the market size analysis growth report. The market is in its early innovation stage, with low sales and customer adoption. Enterprises dominate the market as most vendors focus on enterprise versions. Limited awareness and AR applications contribute to high average selling prices (USD 150 to USD 10,000). Enterprises integrate these to boost productivity. The high ASP of USD 1,397.39 indicates companies prioritize enterprises over individuals. Vendors target enterprises due to their higher adoption rates.
However, vendors release developer and commercial versions, priced based on use cases. For example, Vuzix offers the M300 smart glass at USD 799.99/unit for enterprises and the M400 smart glass at USD 1,799.99/unit for individuals. ThirdEye Gen provides the X2 Mixed Reality Glass at USD 1,950/unit for enterprise users. These factors may hinder market growth.
The global market share growth of the developer segment will be significant during the forecast period. The developers are commonly called prosumers, and they could be prospective customers involved in further design, manufacture, and development. The vendors in the AR market offer the developer version. Developers have an important role in creating AR hardware and software. The developer version enables developers to test them and recommend solutions to improve them further. Developer-version products are available in the form of a developer kit, which can be bought only by developers (not for commercial use). This will facilitate market size analysis growth report during the forecast period.
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The developer segment was valued at USD 30.70 million in 2018. The demand for developer kits for AR technology and apps has risen, leading to an increased launch of developer kits. This trend will foster the growth of an ecosystem, drive new product development, optimize hardware components, and advance attractive designs. As a result, vendors in the market often prioritize the release of developer versions before focusing on commercialization.
North America is estimated to contribute 64% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional market trends and drivers that shape the market during the market forecast period.
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North America holds a dominant position in the market, primarily due to its longstanding reputation for early technology adoption. The region has consistently been at the forefront of embracing new technologies, making it a prime market for innovative products. This can be attributed, in part, to the presence of major crowdfunding platforms such as Kickstarter and Indiegogo, which have played a crucial role in supporting startups in raising funds for the development of cutting-edge products. Moreover, North America serves as a hub for prominent OEMs (Original Equipment Manufacturers) like Alphabet, Atheer Inc., Optinvent, Vuzix, and Microsoft. These companies are actively involved in the research, development, and manufacturing, contributing to the region's leadership in the market whilst driving the AR and VR smart glasses market size. Additionally, many startups choose to introduce their products first in North America, particularly in the United States, where there is increased awareness of the potential benefits. This early exposure helps build traction and paves the way for successful market penetration. As the smart glasses market in US evolves, the smart glasses market size forecast predicts substantial growth. Insights from the smart glasses market industry report reveal a growing interest. With a larger smart glasses industry size, the sector is set to advance further. This development underscores the expanding potential of smart glasses in the technology landscape.
Companies are implementing various strategies by analyzing factors such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product or service launches to enhance their presence in the market.
3M Co. - The company offers smart glasses such as 3M securefit eye protection glasses.
The AR VR smart glasses market size analysis report also includes detailed analyses of the competitive landscape of the market and information about 15 market players, including:
Qualitative and quantitative smart glasses market analysis report of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Million" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments
The global AR VR smart glasses market is rapidly expanding with the integration of cutting-edge technologies. Autonomous vehicles and heads-up display (HUD) systems are driving demand for smart glasses with automatic tinting and minimalist architecture. Electrochromic technology and smart windows offer users the flexibility of switchable glasses and privacy smart glass. Specialty glass like SPD glass and acoustic insulation are enhancing the user experience, providing light control and heat rejection. Furthermore, Wearable technology advancements, along with 5G technologies, are enabling the AR experiences and miniaturization of sensors in smart glasses. Audio smart glasses deliver crystal clear sound, while electrochromic (EC) smart glass and high performance polymers ensure adaptive visibility. From industrial to healthcare applications, smart glasses are revolutionizing various sectors with their advanced functionalities. In the market, healthcare smart glasses are incorporating features like electrochromic glass, photochromic glass, and thermochromic glass to enhance emergency room areas with smart automation and the smart glasses capabilities.
Moreover, the global AR VR smart glass market is rapidly evolving, especially in outdoor sports, healthcare, and industrial sectors. Smart glasses with AR experience and the capabilities provide enhanced experiences for users. Anti-glare properties and full HD displays ensure clear visibility in various environments. Powered by the Linux operating system and equipped with Bluetooth and USB connectivity, smart glasses offer seamless integration with other devices. Industrial smart glass is seeing increased adoption by aerospace and automotive companies, transforming areas like emergency rooms and tourist activities. However, with features like monocular and binocular displays, smart glasses provide the experiences and multi-functional spaces. Photochromic and SPD technologies enhance light transmission and thermal insulation, while panoramic windows and skylights offer panoramic views and smart facades redefine architectural design possibilities.
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Market Scope |
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Report Coverage |
Details |
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Page number |
191 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 13.84% |
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Market growth 2024-2028 |
USD 76.5 million |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
11.92 |
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Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
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Performing market contribution |
North America at 64% |
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Key countries |
US, France, UK, Germany, and China |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
3M Co., AGC Inc., Alphabet Inc., Atheer Inc, Elbit Systems Ltd., Good Sky Electric Co. Ltd., Huawei Technologies Co., Ltd., Iristick NV, MAD Gaze Ltd., Magic Leap Inc., Microsoft Corp., Nreal Ltd., Optinvent, OXSIGHT Ltd., Seiko Epson Corp., Sony Group Corp., ThirdEye Gen Inc., Toshiba Corp., Vuzix Corp., and Xinology Co. Ltd. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. |
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Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this Smart Glasses Market Size Analysis Report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by OS
8 Market Segmentation by End-user
9 Customer Landscape
10 Geographic Landscape
11 Drivers, Challenges, and Opportunity/Restraints
12 Competitive Landscape
13 Competitive Analysis
14 Appendix
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