Farmington, Jan. 23, 2023 (GLOBE NEWSWIRE) -- The Global AR Smart Glasses Market Is Forecast To Generate USD $11,748.7 Million By 2022 And It Will Grow USD $ 74,384.1 Million By 2030, Growing at a CAGR Of 20.3% From 2023 To 2030. AR Smart Glasses are glasses that project information about the user's surroundings right in front of the user's eyes on the user's prescription eyewear. Augmented reality smart glasses can also put virtual things on top of the real world in the right way. Smart AR glasses have sensors and location trackers built in, which makes it easy for people to interact with holograms.
Request Sample Copy of Report “AR Smart Glasses Market - Global Industry Analysis, Size, Share, Growth Opportunities, Future Trends, Covid-19 Impact, SWOT Analysis, Competition and Forecasts 2022 to 2030”, published by Contrive Datum Insights.
Recent Developments:
- December 2021, Tencent acquired Turtle Rock Studios. Tencent particularly found the latter's gaming library and AR capabilities lucrative.
- August 2020, Google Ventures invested USD 14.5 million in Blue Vision Labs, an AR start-up based in the U.K., after realizing the latter’s potential and development power.
- September 2021, WPP and Snap Inc. announced a partnership to explore AR technology to develop advanced immersive experiences for users. The partnership holds immense potential, particularly given that the Snap Consumer AR Global Report 2021 has revealed that over 90% of people want to use AR for shopping.
Segment Analysis:
High cost of AR Smart Glasses a deterrent to market growth
Smart glass costs a lot, which makes it hard for the market for it to grow. Customers in developing countries have less money to spend on extras, so they spend most of their money on things they need. Also, people in these places would rather have blinds and curtains than smart glass.
On the other hand, customers in most APAC and MEA countries care about cost and would choose simple glass that works well. Most customers don't know how much money they can save on their energy bills by using smart glass.
Even though AR Smart Glasses are still being made, their market isn't growing because people don't understand them. AR Smart Glasses are still expensive, even though their prices are going down. This slows their growth and adoption.
AR/VR smart glasses are expensive and cost a lot to keep working. Hardware, software, and maintenance are all very expensive parts of smart glasses. The price of AR/VR smart glasses goes up because the software used to get information and keep records can be changed to fit the user's needs. This causes more costs, which raises the price of the product overall and makes less people buy it.
Enterprise application segment to take the lead in market growth
Most of the growth in the AR market came from the business market. AR apps are used by businesses to check their stock, give information about what's available, and provide remote help, which saves time and money on travel.
AR technology also helps businesses with training, data visualisation, marketing, collaboration, inspection, repairs, solving complex problems, and reducing human errors. Augmented reality will be used more in businesses because of these benefits and the fact that it can be changed in many ways.
Regional Outlook:
In 2021, 33.9% of the revenue came from North America. During the forecast period, North America is expected to have a large market share. The North American market was mostly made up of the United States. There are many well-known technology companies in the United States, such as Google LLC and Microsoft.
Also, the country is known for being one of the first to use new technologies. As the first place to use augmented reality for games and entertainment, Europe is set up for huge growth. Germany is getting a lot of praise for how it uses augmented reality in the gaming industry.
During the time frame of the projection, Asia-Pacific is expected to be the area with the highest growth rate. Developed countries like Japan and Australia are quickly becoming regional market leaders by taking advantage of their large customer bases and speeding up the use of internet-based platforms.
Buy this Premium Research Report@
https://www.contrivedatuminsights.com/buy/248413/?Mode=PM
Scope of Report:
| Report Attributes | Details |
| Growth Rate | CAGR of 20.3% from 2023 to 2030. |
| Revenue Forecast by 2022 | USD 11,748.7 Million |
| By Type | Optical See Through, Video See Through, Others |
| By Application | Industrial, Healthcare, Military, Retail, Media, Games and Entertainment, Sports, Others |
| By Companies | Alphabet Inc., Avegant Corp., HTC Corp., Samsung Electronics Co. Ltd., Sony Group Corp., Atheer Inc., Everysight Ltd, Microsoft Corp., Seiko Epson Corp., Vuzix Corp |
| Regions and Countries Covered |
|
| Base Year | 2022 |
| Historical Year | 2017 to 2022 |
| Forecast Year | 2023 to 2030 |
Market Trends and Opportunities:
Adding useful information and data to real-world experiences is a big reason why people want AR Smart Glasses. The goal of AR smart glasses is to improve the user's experience in their daily life and at work. AR Smart Glasses have a display, sensors, and accelerometers, as well as smart software and the ability to connect to the internet.
Because the number of people who want AR Smart Glasses keeps going up, they have changed from the first ones, which were bulky, expensive, and experimental, to ones that are sleek and very useful. With more companies in the game, prices have gone down a lot, and competition is likely to drive design and innovation, which will lead to even lower prices.
Focus from big players on making AR Smart Glasses work better will open up new growth areas in the AR Smart Glasses market.
Key Segments Covered:
Top Market Players:
Alphabet Inc., Avegant Corp., HTC Corp., Samsung Electronics Co. Ltd., Sony Group Corp., Atheer Inc., Everysight Ltd, Microsoft Corp., Seiko Epson Corp., Vuzix Corp, and others.
By Type
- Optical See Through
- Video See Through
- Other
By Applications
- Industrial
- Healthcare
- Military
- Retail
- Media
- Games and Entertainment
- Sports
- Others
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
Check out more related studies published by Contrive Datum Insights:
- Smart Connected Street Lights Market - The Smart Street Lights Market is expected to grow at a 23.4% CAGR and help the market reach a final valuation of 14,751.1 Million by the end of the forecast period in 2030. In recent years, smart street lighting is expected to enjoy outstanding momentum in the North American smart street lighting market.
- Smart Wearable Medical Devices Market - The Global Smart Wearable Healthcare Devices Market size was valued at USD 13.8 Billion in 2021 and is projected to reach USD 37.4 Billion by 2029, growing at a CAGR of 13.1% from 2022 to 2030. North America is expected to be the fastest-growing market during the forecast period.
- Smart Parking Market - The global smart parking market size was valued at USD 5.75 Billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 21.2% from 2022 to 2030. North America accounted for the largest revenue share, over 35% in 2021.
Customization of the Report: The report can be customized as per client needs or requirements.For any queries, you can contact us on anna@contrivedatuminsights.com or +1 215-297-4078. Our sales executives will be happy to understand your needs and provide you with the most suitable reports.
About Us:
Contrive Datum Insights (CDI) is a global delivery partner of market intelligence and consulting services to officials at various sectors such as investment, information technology, telecommunication, consumer technology, and manufacturing markets. CDI assists investment communities, business executives, and IT professionals to undertake statistics-based accurate decisions on technology purchases and advance strong growth tactics to sustain market competitiveness. Comprising of a team size of more than 100 analysts and cumulative market experience of more than 200 years, Contrive Datum Insights guarantees the delivery of industry knowledge combined with global and country-level expertise.
Social: Facebook / LinkedIn / Twitter
Contact Us:
Anna B. | Head Of Sales
Contrive Datum Insights
Phone: +91 9834816757 | +1 2152974078
Email: anna@contrivedatuminsights.com
Website:
https://www.contrivedatuminsights.com
Contrive Datum Insights Press Releases
Latest Contrive Datum Insights Latest Reports
