The market for augmented reality glasses is anticipated to reach US$ 11,748.7 million in 2022. The overall demand for augmented reality glasses is anticipated to increase at a CAGR of 20.3% between 2022 and 2032, reaching a total of roughly US$ 74,384.1 Million by 2032. This is due to a combination of increasing smart phone and internet penetration around the world, as well as an unmistakable quality of fusing the real with the unreal and being very useful in day-to-day experiences.
Information about the user’s surroundings can be displayed on their glasses thanks to augmented reality technology. Additionally, wearing glasses that display augmented reality effectively superimposes virtual objects on the real world. Due to the sensors and position trackers built into smart augmented reality glasses, holographic objects may also be interacted with effectively.
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Augmented Reality Glasses Market: Drivers and Restraints
The primary driver for augmented reality glasses is the increasing adoption and implementation of augmented reality and virtual reality causing transition towards digitalization. Additionally, increasing adoption of smart phones & tablets and increasing penetration of internet also drives the market of augmented reality glasses.
The decline in the average price of augmented reality glasses is also a factor contributing towards the growth of augmented reality glasses. Factors such as rising demand in healthcare & military, location based search and gaming applications, furthermore, drive the augmented reality market.
As augmented reality glasses are still in its development stage, henceforth, the major factor restraining the growth of augmented reality glasses market is its lack of awareness. In addition to this, augmented reality glass’s high cost, in spite of the decline in prices, also impedes its growth and adoption rate.
Global Augmented Reality Glasses Market Technology Trends
The recent trend governing the growth of augmented reality glasses market is its transition into mixed reality glasses with new technological implementations such as position tracking and presence of depth sensors.
Global Augmented Reality Glasses Market Regional Overview
North America is the most dominant region in the global augmented reality glasses market. North America is followed by Europe as there is an increase observed in awareness amongst users, about augmented reality glasses.APAC is expected to grow at the fastest rate with the penetration of internet, increased awareness and increasing adoption of smart phones and tablets.
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Global Augmented Reality Glasses Competitive Landscape
In February 2017, Toshiba Corporation partnered with Vuzix Corporatin. The partnership aimed at the development of a smart augmented reality glasses, enabling augmented reality to its users. Some of the major global augmented reality glasses market players include Microsoft Corporation, Google, SEIKO EPSON CORP., Laster Technologies, Penny, Sony Mobile Communications Inc., Recon Instruments, LUMUS.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
Regional analysis includes
- North America (U.S., Canada)
- Latin America (Mexico. Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Japan
- Middle East and Africa (GCC Countries, S. Africa, Northern Africa)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Key Segments Profiled In The Global Augmented Reality Glasses Market
Augmented reality glasses market by application:
- Augmented reality glasses for Industrial purpose
- Augmented reality glasses for Healthcare purpose
- Augmented reality glasses for Military purpose
- Augmented reality glasses for Retail purpose
- Augmented reality glasses for Media, Games and Entertainment purpose
- Augmented reality glasses for Sports purpose
- Augmented reality glasses for Others purpose
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