LONDON, March 18, 2024 (GLOBE NEWSWIRE) -- The global AR and VR smart glasses market has witnessed exponential growth in recent years, as highlighted in the latest report, " AR and VR Smart Glasses Global Market Report 2024, by The Business Research Company.
Market Overview and Growth Projections
The AR and VR smart glasses market has experienced rapid expansion, with a projected compound annual growth rate (CAGR) of 16.6% from 2023 to 2024, reaching a size of $18.58 billion. Looking ahead, the AR and VR smart glasses market is expected to continue its robust growth trajectory, with a forecasted size of $34.62 billion by 2028, driven by the increasing adoption of smart glasses in the healthcare sector.
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Healthcare Industry Driving Growth
The healthcare industry is emerging as a key driver of growth in the AR and VR smart glasses market. These innovative devices enable healthcare professionals to access real-time patient data, visualize complex medical images, and perform hands-free procedures, leading to improved diagnostic accuracy, enhanced treatment outcomes, and streamlined workflows. According to a report by Vuzix, approximately half of all surgeons have undergone training with augmented reality glasses, with 49% believing AR glasses can significantly enhance patient outcomes and reduce errors.
Integration of Head-Tracking Systems
Companies in the AR and VR smart glasses market are focusing on integrating head-tracking systems for a more seamless and immersive AR/VR experience. Head-tracking technology enhances the immersive experience by accurately detecting and responding to the user's head movements, enabling natural interactions with virtual elements. For instance, Zinn Labs introduced a head-tracking system for AR, VR, and MR headsets and smart frames, facilitating faster and more effective acquisition of pertinent data for eye tracking.
Segmentation Analysis
The report provides a comprehensive segmentation analysis of the AR and VR smart glasses market, categorizing it based on various parameters:
- Type: Optical See Through, Video See Through
- Device Type: Binocular, Monocular
- Product: Mobile Phone Smart Glasses, Integrated Smart Glasses, External Smart Glasses
- End Use: Gaming Industry, Healthcare, Education, Military And Defense, Other End Users
Regional Insights
North America emerged as the largest region in the AR and VR smart glasses market, followed by Asia Pacific and Western Europe. However, the fastest-growing regions are projected to be Asia Pacific and Western Europe, with anticipated CAGRs of 18.7% and 18.0%, respectively.
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The global AR and VR smart glasses market report unveils significant growth opportunities driven by the healthcare sector and technological advancements. With the increasing adoption of smart glasses in healthcare settings and the integration of head-tracking systems, stakeholders in the industry are poised to capitalize on emerging trends and innovations to drive transformative outcomes across various sectors.
AR And VR Smart Glasses Global Market Report 2024 by The Business Research Company provides insights on the AR and VR smart glasses market size, AR and VR smart glasses market segments, AR and VR smart glasses market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.
The Business Research Company has published over 7,500+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
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