LONDON, Dec. 09, 2021 (GLOBE NEWSWIRE) -- The outbreak of COVID-19 brought with the urgent need for remote solutions for dire issues. The global AR glasses market has been thriving on this sentiment. A part of the wearable devices umbrella, augmented reality (AR) glasses have garnered attention as the industries seek better solutions. Industries such as manufacturing, government, logistics, and healthcare amongst others are using AR glasses to bring in efficiency in operations.
According to Fairfield Market Research, the global AR glasses market is expected to be worth US$883.4 Mn by 2025 from US$143.8 Mn in 2017. The global market is expected to exhibit a CAGR of 17.8% during the forecast period 2021-2025.
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Healthcare Industry to Emerge as Leading Application Area for AR Glasses
Deployment of AR glasses is seen across a wide range of industries. However, their application will be critical in the healthcare industry. As teleconsultation gained momentum with the outbreak of COVID-19, the demand for AR glasses could see new support through healthcare professionals. AR glasses have the full potential to serve an important function of enabling telehealth, allowing improved patient care remotely. In the coming years, the report predicts that AR glasses will be used to educating medical professionals and students, provide training to practitioners and surgeons, and support telehealth services.
For instance, Google Glass is serving as an important tool for surgeons. It has empowered them to remotely attend training sessions and access important surgical information in their line of sight. Meanwhile, Vuzix’s M400 AR glasses are also being deployed for telehealth services. On the other hand, NuEyes’ Pro 2 smart glasses is making tasks such as commuting simpler for people with partial visual impairment.
North America Leaps Ahead as Wearable Devices See High Adoption
The strong presence of key players in North America is expected to keep the region in the lead. Players such as ThirdEye, Apple, Google, Vuzix, and Snap Inc. are expected to herald a new era with the adoption of these glasses for improved efficiency. Additionally, the demand for wearable technology is further expected to boost the market growth in the region. The region is also expected to see AR glasses revolutionize technologies such as edge computing, conversational platforms, and cybersecurity. In the next five years, the U.S. will be the key contributor to the North America AR glasses market. The introduction of 5G support will become pivotal in the development and commercialization of AR glasses.
The report also indicates that Asia Pacific will be the fastest-growing regional market in the foreseeable future. China is estimated to lead as it continues to be the unchallenged manufacturing hub for electronics products. India will also generate several lucrative opportunities for AR glasses as consumers show a preference for wearable devices.
Some of the key players operating in the global AR glasses market are Vuzix, Iristick, and ThirdEye, Google, Seiko Epson, and Rokid. Out of these, the top four, Seiko Epson, Rokid, Google, and Vuzix, held a share of about 75% in 2020. As of 2020, Google held a share of about 50%, dominating the global AR glasses market by a margin.
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REPORT SCOPE & SEGMENTATION:
| REPORT FEATURES | DETAILS |
| Type Coverage |
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| Industry Coverage |
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| Geographic Coverage |
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| Leading Companies |
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| Report Highlights | Market Estimates and Forecast, Market Dynamics, Market Trends, Competition Landscape, Type-, Industry-, Region-, COVID-19 Impact Analysis, Pricing Analysis, Shipment Analysis |
Detailed Table of Content
1. Executive Summary
1.1. Global AR Glasses Market Snapshot
1.2. Global AR Glasses Market Fairfield Analysis
2. Market Overview
2.1. Market Dynamics
2.2. COVID-19 Impact
2.3. Eco-System Analysis
2.4. AR Glasses Vendor Landscape
2.5. Porters Five Forces
2.6. AR Glasses Timelines
2.7. AR Glasses End User Analysis
2.8. Key Use Cases by Industry
2.9. Market Trends
2.10. Microeconomic Outlook
3. Shipment Analysis, 2016 - 2025
3.1. Global AR Glasses Shipment Analysis (1000 Units), 2016 - 2025
3.2. AR Glasses Shipment Analysis (1000 Units) by Type, 2016 - 2025
4. Price Trend Analysis, 2016 - 2025
4.1. Enterprise AR Glasses Pricing Analysis, 2017-2025
4.2. Consumer AR Glasses Pricing Analysis, 2017-2025
4.3. AR Glasses Average Selling Prices (US$), 2017-2020
5. Global AR Glasses Market Outlook, 2017-2025
5.1. Overview
5.2. Global Enterprise AR Glasses Revenue (US$ Mn), 2017-2025
5.3. Global Consumer AR Glasses Revenue (US$ Mn), 2017-2025
5.4. Global AR Glasses Market Share Analysis (%) by Type
5.5. Global AR Glasses Market Share Analysis (%) by Industry
5.6. Global AR Glasses Market Share Analysis (%) by Region
5.7. Global AR Glasses Revenue (US$ Mn) by Type
5.8. Global AR Glasses Revenue (US$ Mn) by Industry
5.9. Global AR Glasses Revenue (US$ Mn) by Region
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