Expected to exceed the valuation of US$883 Mn by the end of 2025, global augmented reality (AR) glasses market size is likely to expand at a stupendous CAGR of 17.8% over 2021 – 2025. Fairfield Market Research in its latest market intelligence report forecasts that the worldwide demand for AR glasses will continue to proliferate as an increasing number of enterprises seek improved operational efficiency through ease of operation. With more than 38% share in the total market revenue, North America continues to lead its way in AR glasses market. Led by the US, the region will benefit the most from 5G technology, and growing integration of smart glass technology with tech innovations like edge computing, conversational platforms, and cybersecurity.
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Market to benefit from Widening Adoption
Businesses across a variety of domains, including manufacturing, government, healthcare, and logistics have been registering notable inclination toward remote, hands-free/contactless operation, especially since the onset of COVID-19 pandemic. This will remain the key factor pushing the growth of AR glasses market in future, says the report. It also highlights that the manufacturing industry will remain the key revenue contributor to market, whereas healthcare industry looks highly promising in terms of opportunity generation in future.
Enterprise AR Glasses Remain in Demand
With over 90% market value share, adoption of enterprise AR glasses is expected to remain on an uptrend as enterprises are striving to comply with newly imposed remote operation guidelines. Moreover, many law enforcement agencies are showcasing their preference for using AR glasses at public places for identification of high body temperature. With the rise of telehealth, and rising popularity of telemedicine, the world of medicine and healthcare is likely to witness deepening penetration of AR glasses that have the potential to facilitate collaboration, and communication with remote experts. Google Glass is in fact being widely used by surgeons during procedures, as well as for training sessions. Police department also records remarkable adoption for obtaining hands-free route information about relatively unfamiliar, potential troublesome locations, as well as crime and suspect notifications.
Consumer AR Glasses See a Demand Plunge
Sales of consumer AR glasses however suffered a plunge to a certain extent as the number of consumers willing to purchase AR glasses for sports and other events witnessed a fall during the pandemic situation. Top product brands like Snap, North, and Realmax Inc. are experiencing limited demand from consumers. While COVID-19 pandemic has been one factor behind the restricted consumer demand dynamics, another more important factor that accounts for this is the overpowering potential of smartphones. Customers today have been looking for something that can potentially take them way ahead of where their smartphones can take them. Several customers even look at AR glasses as a serious threat to privacy, which again tends to limit their adoption potential in global market.
Competitive Landscape Analysis - AR Glasses Market
Besides Google, Rokid, Vuzix, and Seiko Epson remain the significant players in global enterprise AR glasses landscape. Furthermore, Vuzix, ThirdEye, and Iristick represent a few of the top players serving healthcare and medical industry. On the other hand, Seiko Epson, DigiLens, Solos Wearables, and Everysight constitute some of the dominant companies driving consumer AR glasses space. Entry of biggies like Facebook, Apple, and Reliance Jio in the consumer AR market points to the flourishing prospects of AR glasses market in the near future.
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Various factors are propelling the global AR and VR smart glasses market share.
According to the recent MRFR report, such factors include growing demand for augmented reality devices in medical training and education, inpatient care management, and the growing interest of top tech giants.
Key PlayersKey contenders in the global AR and VR smart glasses market report include the Atheer (U.S.), Jenax (South Korea), Vuzix (U.S.), Oculus VR (U.S.), Google Inc. (U.S.), Avegant (U.S.), Razer Inc. (U.S.), HTC Corporation (Taiwan), Sony Corporation (Japan), FlexEl, LLC.
(U.S.), Imprint Energy, Inc. (U.S.), Kopin Corporation (U.S.), Ricoh (Japan), MicroOLED (France), Optinvent (France), Royole Corporation (U.S.), Samsung Group (South Korea), Osterhout Design Group (U.S.), Microsoft Corporation (U.S.), and Seiko Epson Corporation (Japan).
AR and VR Smart Glasses Market@ https://www.openpr.com/news/2207700/ar-and-vr-smart-glasses-market-expected-to-reach-at-high-pace Market SegmentationThe MRFR report highlights an inclusive segmental analysis of the global AR and VR smart glasses market based on application, product, and device type.
Of these, the external smart glasses segment will lead the market over the forecast period for its growing use in gaming as well as other applications and growing use of cloud-based technologies.
Get Exclusive FREE Sample Copy Of this Report @ https://www.upmarketresearch.com/home/requested_sample/33928 UpMarketResearch offers a latest published report on “Global AR Smart Glasses Market Analysis and Forecast 2018- 2025” delivering key insights and providing a competitive advantage to clients through a detailed report.
Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
The report contains basic, secondary and advanced information pertaining to the AR Smart Glasses Market global status and trend, market size, share, growth, trends analysis, segment and forecasts from 2018 – 2025.
The numerical data is backed up by statistical tools such as SWOT analysis, BCG matrix, SCOT analysis, PESTLE analysis and so on.
The statistics are represented in graphical format for a clear understanding on facts and figures.
For More Information On This Report, Please Visit https://www.upmarketresearch.com/home/enquiry_before_buying/33928 The generated report is firmly based on primary research, interviews with top executives, news sources and information insiders.
Market ScopeMarket Research Future (MRFR) reveals in its new research study that the AR and VR smart glasses market 2020 can procure an approximate growth rate of 13% between 2020 and 2027 (appraisal period).
While the countries are rushing to achieve a covid-19 breakthrough, this demand is only going to increase, boosting the growth prospects of the AR and VR smart glasses.Request a Free Sample @ https://www.marketresearchfuture.com/sample_request/4837Top Boosters and Main DeterrentsIn May 2020, Vuzix Corporation, a well-known supplier of AR smart glasses, received approval for its orthopedic navigation system called Knee+ for complete knee arthroplasty.
Knee+ makes use of M400 smart glasses to accurately track the implants and instruments during surgeries.
This convergence between the technologies helps provide a highly immersive and interactive user experience.Emerging conceptualization in almost all the entertainment-related aspects is touted to be an attractive opportunity for the AR and VR smart glasses industry.
For instance, Magic Leap, an AR company has built a technology known as Dynamic Digitized Lightfield Signal, which shines on the user’s retina, allowing interaction between the real world and the fictional characters.
The mounting demand for AR devices in medical training and education, inpatient care management, along with the rising focus of tech giants in AR and VR leading to higher investments, benefit the global market.
Market HighlightsThe global AR and VR smart glasses market is projected to witness a rapid growth during the forecast period.
Increasing emergence of cloud-based technologies is a major factor driving the growth of the market.
Moreover, increasing demand for AR and VR smart glasses across various industry verticals such as BFSI, healthcare, manufacturing, retail and IT & telecommunications is fueling the growth of the global market.The global AR and VR Smart Glasses Market, by geography, is segmented into North America, Europe, Asia Pacific, and Rest of the World.
U.S and Canada are anticipated to drive the growth of the North American AR and VR smart glasses market owing to the presence of a large number of established key players such as Microsoft Corporation, Osterhout Design Group, Royole Corporation, Kopin Corporation, Imprint Energy, Inc., FlexEl, LLC, Razer Inc., Avegant, Google Inc., Oculus VR, Vuzix and Atheer in this region.
Due to the drastic fall in the usage of native applications and a considerable shift towards the adoption of mobile applications in the region, the market is likely to show immense growth in the coming future.
Additionally, North America also has a well-established infrastructure, which allows a higher penetration of devices and ultimately provides better connectivity.
