AR and VR Smart Glasses Market Insights:
Market Research Future (MRFR)’s latest assessment reveals that the global AR and VR smart glasses market has been expected to strike a CAGR of 13% during the forecast period 2017 to 2023. Its valuation is poised to touch USD 31 Bn market by the end of the projection period. The AR and VR technologies are at the nascent stage and signify tremendous growth potential. It has already penetrated its way across the defense sector which is likely to have a favorable impact on the expansion of the market in the foreseeable future.
Investments are likely to flow towards product innovation and development from the global leaders which are anticipated to boost the future trajectory of the AR and VR smart glasses market over the assessment period. The rising demand for AR and VR smart glasses from the education sector is not only projected to revolutionize the market but also the entire education sector in the forthcoming years.
The gaming industry resonates strong growth potential, and the market is likely to gain momentum owing to the boom witnessed in the industry. The rising population of millennials backed by the social media influence has paved the way for the growth of the AR and VR smart glasses market. Also, the tourism industry leaders are capitalizing on smart glasses for revenue acceleration which is expected to catapult the market on an upward trajectory.
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AR and VR Smart Glasses Market Competitive Dashboard:
Some of the leading players profiled in this MRFR report are Microsoft Corporation (U.S.), Osterhout Design Group (U.S.), Seiko Epson Corporation (Japan), Samsung Group (South Korea), Optinvent (France), MicroOLED (France), Ricoh (Japan), Royole Corporation (U.S.), Kopin Corporation (U.S.), FlexEl, LLC. (U.S.), Sony Corporation (Japan), HTC Corporation (Taiwan), Imprint Energy, Inc. (U.S.), Avegant (U.S.), Google Inc. (U.S.), Razer Inc. (U.S.), Oculus VR (U.S.), Jenax (South Korea), Vuzix (U.S.), and Atheer (U.S.).
AR and VR Smart Glasses Market Segmentation:
By device type, the AR and VR smart glasses market has been segmented into binocular and monocular.
By product, the global AR and VR smart glasses market is segmented into mobile phone smart glasses, integrated smart glasses, and external smart glasses.
By application, the AR and VR smart glasses market has been segmented into gaming, education, military, industrial, and commercial.
AR and VR Smart Glasses Market Industry News:
In January 2019, a China-based AI company, Rokid, has announced the launch of a cheaper version of smart glasses called the Rokid Glass under Project Aurora at the CES 2018.
In January 2019, a leading supplier of Smart Glasses and Augmented Reality (AR) products, Vuzix® Corporation, has announced the availability of its products in 35 countries with addition of Japan.
In December 2018, Tesla, an American automotive and energy company, has ventured into Augmented Reality (AR) technology by filing a patent for its AR glasses.
In October 2018, Facebook has announced the development of its Augmented Reality (AR) glasses.
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AR and VR Smart Glasses Market Regional Analysis:
The global AR and VR smart glasses market, by region, has been segmented into Asia Pacific, North America, Europe, and the Rest of the World (RoW). North America and Europe are the two most important regional AR and VR smart glasses markets. North America presently houses the largest market presence of AR & VR smart glasses. It is poised to retain its dominance over the global market through the projection period. The early adoption of the technology coupled with large-scale adoption of cloud-based technologies is earning benefits for the market in the region. Meanwhile, Europe is likely to trail North America thriving at a relatively higher CAGR during the assessment period. The growth can be primarily ascribed to the technological advancements introduced in the AR and VR smart glasses market.
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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
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