Valued to be 8.8 Million Units by 2026, Smart Augmented Reality (AR) Glasses Slated for Robust Growth Worldwide
Edition: 19; Released: February 2022
Executive Pool: 14002
Companies: 51 – Players covered include Atheer Inc.; Avegant Corp.; Daqri; Epson America Inc.; Everysight LTD; GlassUp; Google Inc.; Laforge Optical; Laster Technologies; Lumus Ltd.; Magic Leap Inc.; Meta Company; Microsoft Corp.; NVIS Inc.; Optinvent SA; Osterhout Design Group; Penny AB; Recon Instruments Inc.; Sony Corporation; Sulon Technologies Inc.; Tobii AB; Trivisio; Upskill; Vrvana Inc. Vuzix Corporation and Others.
Coverage: All major geographies and key segments
Segments: Product Type (Simple Assisted Reality Glasses, MR Holographic Displays, Smart Helmets); Application (Enterprises, Individual Consumers)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.
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Global Smart Augmented Reality (AR) Glasses Market to Reach 8.8 Million Units by the Year 2026
Smart AR glasses are typically heads-up displays in the form of specialized eyewear. Form factors of smart AR glasses range from simple assisted reality glasses to MR Holographic Displays. AR/VR smart glass technology is experiencing increasing adoption in various sectors such as field service, logistics, manufacturing, operation, and inspection. AR/VR smart glasses have the capability to improve and also take the place of current technology solutions in supply chains. Organizations using AR wearable electronics are showing applications that result in improvements in productivity, efficiency, and also compliance. The market is expected to gain from the developments in machine vision and AI and also analytics and big data. Object and face tracking enhancements, voice recognition and other capabilities will augment the adoption of AR and VR. The AR/VR smart glasses market is also expected to gain from the Industry 4.0 and the growing interest in AR/VR technology among gamers. Video games is a key application area for virtual and augmented reality technology. The growing number of gamers globally and the strong adoption of VR and AR-based games is boding well for the market. Also, the implementation of 5G technology and increasing digitization are likely to drive gains in the market.
Amid the COVID-19 crisis, the global market for Smart Augmented Reality (AR) Glasses estimated at 721 Thousand Units in the year 2022, is projected to reach a revised size of 8.8 Million Units by 2026, growing at a CAGR of 80.3% over the analysis period. Simple Assisted Reality Glasses, one of the segments analyzed in the report, is projected to grow at a 76.9% CAGR to reach 6.4 Million Units by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the MR Holographic Displays segment is readjusted to a revised 88.4% CAGR for the next 7-year period. This segment currently accounts for a 32.1% share of the global Smart Augmented Reality (AR) Glasses market.
The U.S. Market is Estimated at 448.8 Thousand Units in 2022, While China is Forecast to Reach 460.4 Thousand Units by 2026
The Smart Augmented Reality (AR) Glasses market in the U.S. is estimated at 488.8 Thousand Units in the year 2022. The country currently accounts for a 62.03% share in the global market. China, the world’s second largest economy, is forecast to reach an estimated market size of 460.4 Thousand Units in the year 2026 trailing a CAGR of 99.1% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 70.6% and 76.3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 81.6% CAGR while Rest of European market (as defined in the study) will reach 915.7 Thousand Units by the end of the analysis period.
Smart Helmets Segment to Reach 1.5 Million Units by 2026
Smart Helmet feature a 360-degree camera, GPS, WLAN, Bluetooth, IR transmitter, and solid-state memory integrated into smart glasses. The unit displays graphical information, enabling workers to gain information on maintenance or repair from remote experts. Hands-free operations are a major advantage. In the global Smart Helmets segment, USA, Canada, Japan, China and Europe will drive the 71.6% CAGR estimated for this segment. These regional markets accounting for a combined market size of 53.4 Thousand Units will reach a projected size of 2.3 Million Units by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach 75.4 Thousand Units by the year 2026. More
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