Scope of the Study
The global AR and VR smart glasses market is expected to witness double-digit growth during the forecast period, according to the AMA study. The growing demand from transforming the entertainment & gaming sector, increasing demand of HMDs for applications in digitizing manufacturing, healthcare, and construction industries is expected to be the major factor driving the market for AR & VR smartglasses market globally.
The market study is being classified by Type (AR Smartglass and VR Headsets), by Application (Entertainment & Gaming, Manufacturing, Marketing, Education, Retail, Healthcare, Real Estate, Aerospace & Defence, Automotive and Others) and major geographies with country level break-up.
Vuzix Corporation (United States), Lumus (Israel), Reality8 Inc (United States), Seiko Epson Corporation (United States), Lenovo (China), Tesseract Imaging Private Limited (India), Sony Corporation (Japan), Kopin Corporation (United States), THIRDEYE (United States), Toshiba America Information Systems, Inc. (United States) , Google LLC (United States), Microsoft (United States), SAMSUNG ELECTRONICS CO., LTD. (South Korea), HTC Corporation (Taiwan), Razer Inc. (United States) and Facebook Technologies, LLC (United States) are some of the key players profiled in the study.
The vendors in this market are majorly focusing on the development of new & innovative products in order to remain competitive n the highly fragmented market by launching new products for growing applications in different end-use industries. For instance, in May 2019, Google announced that it has launched a new AR smart glass headset with a price od USD 999 and named it as Glass Enterprise Edition 2 Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global AR and VR Smart Glasses market throughout the predicted period.
AdvanceMarketAnalytics has segmented the market of Global AR and VR Smart Glasses market by Type, Application and Region.
On the basis of geography, the market of AR and VR Smart Glasses has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Growing Demand from Transforming Entertainment & Gaming Sector
- Growing Adoption of Head-Mounted Displays (HMDs) in Different End-Use Industries such as Manufacturing, Healthcare, and Architecture & Construction
- Growing Adoption of AR & VR Devices in Educational Sector to Support Innovative Ways of Teaching & Learning for Smart Classes
- Huge Investments for AR & VR Technologies for the Development of New Technologies for Numerous Applications
- Implementation of Microdisplays in VR HMDs
- Difficulties in Reconfiguration of AR Platforms for Different End-Use Applications
- Capability to Replace Computers and Smartphones in the Future
- Growing Adoption in Manufacturing Sector
- High Cost of Technology
- Lack of User-Friendly Interface
Market Leaders and their expansionary development strategies
In February 2020, Facbook Inc. announced that it has completed the acquisition of Sanaru Games, a video game company known for working on titles in the Sly Cooper and Spyro the Dragon franchises
In May 2019, Epson announced the launch of its new product i.e., AR-based Moverio BT-30C Smart Glasses worth USD 499 per unit which is more likely to be suitable for corporations
Analyst CommentThere are other companies which are developing their own AR & VR headsets in order to expand their presence by entering into the market. For instance, in October 2019, Apple announced that it is developing its own AR & VR headsets and will be launching its products in the year 2020 to enter the burgeoning market.
Key Target AudienceAR Smart Glasses Manufacturers, VR Headsets Manufacturers, AR & VR Software Companies, New Entrants/Investors, Analysts and Strategic Business Planners and Providers, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations and Others
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Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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