AR and VR Smart Glasses Market Size, Share Global Analysis Report, 2019–2026

Industry Insights

This professional and specialized report study examines the technical and business perspective of the AR and VR smart glasses industry. The report provides a historical analysis of the industry as well as the projected trends expected to be witnessed in the AR and VR Smart Glasses Market. The report study analyzes the market statistics at the global as well as regional levels to gain an in-depth perspective of the overall AR and VR Smart Glasses Market. The historical insights are provided from 2016 to 2019 and projected trends are provided from 2020 to 2026. The quantitative data is provided in terms of both volume (Thousands) and value (USD Million) for 2016 – 2026. The qualitative data is reinforced by analyzing and providing numerous market dynamics (directly or indirectly affecting the industry) such as growth drivers, restraints, challenges, and opportunities.

We have included various industry analysis models in our report and extensively demonstrated the key business strategies and competitive landscape of the AR and VR smart glasses market in our study.

Key Insights from Primary Research

• After exhaustive sessions of face-to-face and telephonic interviews with top executives working in the IT industry, we observed that the global Ar and VR smart glass market is anticipated to witness an enormous boost in the military application by 2026.
• Through primary research, it was established that the AR and VR smart glasses market was valued at around USD 4,300 million in 2019.
• On the basis of application, external smart glasses held the leading share at more than 32%, in 2019. According to the end-users of the smart glasses applications, increasing digitization, development in the gaming sector, and technological advancements are key to the growth of this segment.
• After a few sessions of interviews with some researchers working in the R&D department of the IT industry, we analyzed that the IT industry is continuously researching smart glasses and they are working on making the glasses AI-enabled which can help in auto translating texts, auto pathfinder, etc.
• Geographically, the North American region led the market in 2019. But, CXOs also believe that Asia-Pacific will witness the fastest growth on account of digitalization trends and internet penetration in this region, especially in India, Southeast Asia, and China.

Key Recommendations from Analysts

• As per our analyst, the North American region accounted for around 46% of the total share of the global AR and VR smart glasses market in 2019, owing to their better infrastructure and faster adaptation of newer technology.
• On analyzing data collected from various reliable resources, our team’s finding was, external smart glasses gained huge popularity among the population owing to the vast number of uses for it such as gaming, GPRS, simulations, and many others.
• Our analysts predict the market to witness the fastest growth between 2020-2026 owing to increasing income levels in the Asian population as well as rising IT industries in the Asia Pacific.
• Our analysts have identified external smart glasses and military categories in the product type and application sector respectively, and are leading the AR and VR smart glasses market. The growth is primarily attributed to the scope of enormous opportunities and innovations that can be done in the external smart glass and military segment.
• The significant CAGR of nearly 46% observed by the global AR and VR smart glasses market is set to bring lucrative opportunities for the new players planning to enter the market. Some of the key opportunities include decreasing product costs, rising profit margins, easy installation, and management.

Market Attractiveness – By Type

Our study also includes an analysis of Porter’s Five Forces framework for understanding the competitive strategies adopted by various stakeholders involved in the entire value chain of the AR and VR Smart Glasses Market. It also encompasses PESTLE analysis and SWOT analysis.

The report also offers an in-depth analysis of the market shares of each industry player and gives an outline of the market position of key players in the AR and VR smart glasses market. Moreover, the study offers wide coverage of key strategic advances witnessed in the market such as new product launches, acquisitions & mergers, collaborations & joint ventures, funding & VC activities, agreements, partnerships, R&D activities, and regional expansion of key players of the AR and VR smart glasses market.

The research study provides a critical assessment of the AR and VR smart glasses industry by logically segmenting the market on the basis of Type, Application, and region. Based on the past, present, and future trends, all the segments were analyzed from the bottom up, and the market sizes have been estimated from 2020 to 2026. The regional segmentation of the AR and VR smart glasses industry includes the holistic bifurcation of all five major continents including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

In recent years, augmented reality has become a major attraction for eyewear and sunglasses. This has fueled the adoption rate of augmented reality smart glasses in all verticals. For the last few years, the consumer electronics market has increased significantly owing to rising disposable income and the soaring retail industry. Augmented reality-enabled smart glasses allow users to view information from other computer or smartphone screens onto their smart glasses. The global industry for VR and AR smart glasses is expected to witness rapid growth during the forecast period. Expanding the proliferation of cloud-based technology is a key factor for market growth. AR and VR are anticipated to dominate computing platforms in the future. Furthermore, the use of smart glasses for leisure activities such as providing navigation and weather information, access to social networks, and real-time information about system performance is anticipated to drive the demand for the global smart glasses market in years to come.

The AR and VR smart glasses market is segmented based on type and application.  On the basis of type segmentation, the market is classified into mobile phone smart glasses, integrated smart glasses, external smart glasses, and others. In terms of Application segmentation, the market is bifurcated into gaming, education, military, industrial, commercial, and others.

Report Scope

Competitive Analysis

Some of the essential players operating in the AR and VR smart glasses market, but not restricted to include :

• Seiko Epson Corporation
• Microsoft Corporation
• Samsung
• Royole Corporation
• Optinvent
• MicroOLED
• Kopin Corporation
• Sony
• HTC Corporation
• Google Inc
• Oculus VR
• Vuzix Corporation
• Avegant Corp.
• Toshiba Corporation
• and others

The taxonomy of the AR and VR smart glasses Market by its scope and segmentation is as follows:

By Type Segmentation Analysis

• Mobile Phone Smart Glasses
• Integrated Smart Glasses
• External Smart Glasses
• Others

By Application Segmentation Analysis

• Gaming
• Education
• Military
• Industrial
• Commercial
• Others

Regional Segmentation Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of the Middle East & Africa.

KEY BUSINESS POINTERS ADDRESSED & FOREMOST REASONS TO PROCURE THE REPORT:

• Statistical Analysis of the Past, Current, and Future Trends of the Industry with Validated Market Sizes Data
• Direct and Indirect Rationales Impacting the Industry
• In-depth and Micro Analysis of Viable Segments and Sub-segments
• Companies and Vendors Market Share, Competitive Landscape, and Player Positioning Analysis
• Demand Side (Consumption) and Supply Side (Production) Perspective and Analysis wherever applicable
• Key Buyers and End-Users Analysis
• Value Chain and Manufacturing Cost Structure Analysis wherever relevant
• Key Marketing Strategies as well as Key Sales Channels adopted in the market
• Investment Opportunity Analysis & Patents Analysis wherever feasible
• Technological Road Map & Technical Analysis
• Robust Research Methodology comprising dynamic mix (65%~35%) of Extensive Primary Research (primary interviews, ad-hoc surveys, questionnaires) and Protracted Secondary Research (proprietary in-house database, paid external databases, publically available validated sources)