how Big is The AR and VR glasses Market:
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 (augmented reality) and VR (virtual reality) glasses?
AR or augmented reality and VR, also known as virtual reality glasses, are smart glasses that help wearers in recording still videos, images, and audio remotely, access information hands-free, exchange data, share their point of view in real-time, and augment their real world. Users can also analyze information relevant to their surroundings via these glasses. They can improve and even replace existing technological solutions within enterprise supply chains. In line with this, AR and VR glasses aid in enhancing workplace productivity, efficiency, compliance, etc. They provide an immersive virtual experience and assist users with everyday tasks, thereby allowing them to express themselves more effectively. Consequently, these glasses are gaining extensive traction across the globe.
AR and VR Smart Glasses Market Trends and Drivers:
The inflating levels of industrialization and the growing penetration of high-speed 5G internet are primarily driving the AR and VR smart glasses market. Additionally, the rising adoption of AR and VR technology in numerous industries, including healthcare, military and defense, e-commerce, education, etc., is further bolstering the market growth. Besides this, the increasing number of gamers and the escalating demand for augmented and virtual reality games are acting as another significant growth-inducing factor.
Moreover, continuous developments in mobile applications, extensive investments in R&D activities, and the introduction of industry 4.0 are positively influencing the global market. Apart from this, numerous advancements in Machine Learning (ML), Artificial Intelligence (AI), the Internet of Things (IoT), big data, and analytics are also stimulating the market growth. Furthermore, the elevating integration of 3D interactive content with enhanced face and object tracking, 360-degree video, and better speech recognition is expected to fuel the AR and VR smart glasses market over the forecasted period.
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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