London, Nov. 03, 2022 (GLOBE NEWSWIRE) -- With enterprises worldwide place greater emphasis on improved operational efficiency at the ease of operation, the preference for augmented reality (AR)-enabled tools is likely to see an upswing. AR glasses have especially been witnessing robust demand growth recently and are likely to represent an approximately US$883 Mn market toward the end of 2025. Global AR glasses market registered the revenue of around US$143.8 Mn in 2017, as indicated by a newly released report of Fairfield Market Research. Critically growing need for building remote and hybrid workforces is expected to push penetration of AR glasses across enterprises, in turn accelerating the growth of AR glasses market.
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Key Research Insights
- AR glasses market size is poised for around 17.8% expansion between 2021 and 2025
- Demand for AR glasses in manufacturing industry accounted for revenue of more than US$42.7 Mn in 2017
- North America is poised to maintain the largest market value share of over 38% through 2025 end
Insights into Segmental Analysis
Enterprise AR glasses currently account for more than 90% market share and will continue to be the leading category throughout the period of assessment. Increasing application of enterprise AR glasses across police departments will also uphold the scope of growth for the market according to the report. Healthcare, and medicine industry is however projected to unlock a wealth of opportunities in the next few years as Google’s glasses have been gaining preference of surgeons during procedures, and training sessions. The report estimates surge in potential demand for enterprise AR glasses in light of the rapidly growing prospects of budding sectors like telemedicine, and telehealth. The report on the other hand also points to a sudden drop in the rate of demand for consumer AR glasses during the pandemic situation that are otherwise high in demand for typical application while experiencing sports, and similar events. Manufacturing industry further remains a substantial revenue contributor for global AR glasses market.
Key Report Highlights
- Healthcare professionals have been showcasing interest in AR technology for training practitioners and surgeons, educating medical professionals and students, and supporting telehealth services
- In 2020, the US was the highest revenue generating market for AR glasses, majorly attributing to rocketing adoption by enterprises
- Asia Pacific’s AR glasses market will possibly register the highest growth rate through 2025 with Chinese companies investing heavily in AR technology
Insights into Regional Analysis
North America, with a dominant market share of more than 38%, is likely to reign supreme throughout the period of projection. The US market is especially expected to leverage unprecedented growth of 5G technology, and growing integration of smart glass technology with cybersecurity, edge computing, and conversational platforms. With the entry of globally leading brands like Apple, Facebook, and Reliance Jio, North America’s AR glasses market space will remain on an uptrend.
Leading Competitors in Global AR Glasses Market
Besides industry behemoths like Google, Rokid, Vuzix, and Seiko Epson, the report covers Vuzix, ThirdEye, Iristick, Seiko Epson, DigiLens, Solos Wearables, and Everysight under the competition analysis section.
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REPORT SCOPE
| Report Attributes | Details | |
| Base Year | 2020 | |
| Forecast Year | 2021 – 2025 | |
| Market Size in 2019 | US$143.8 Mn | |
| Estimated Market Size in 2025 | US$883.4 Mn | |
| CAGR | 17.8% | |
| Key Players | Google, Rokid, Vuzix, and Seiko Epson, include Vuzix, ThirdEye, Iristick, Seiko Epson, DigiLens, Solos Wearables, Everysight | |
Market Segmentation
Type Coverage
- Enterprise
- Consumer
Industry Coverage
- Government
- Healthcare
- Aerospace and Defence
- Manufacturing
- Others
Geographical Coverage
- North America
- Europe
- Latin America
- Middle East & Africa
Leading Companies
- Google LLC
- Vuzix Corporation
- Epson
- Rokid Inc.
- Jorjin Technologies Inc.
- ThirdEye Gen, Inc.
- Solos Wearables
- Everysight Ltd.
- DigiLens Inc.
- Iristic
Report Inclusions
- Market Estimates and Forecast
- Market Dynamics
- Industry Trends
- Competition Landscape
- Type-wise Analysis
- Industry-wise Analysis
- Region-wise Analysis
- Country-wise Analysis
- Key Trends Analysis
- COVID-19 Impact Analysis
About Us
Fairfield Market Research is a UK-based market research provider. Fairfield offers a wide spectrum of services, ranging from customized reports to consulting solutions. With a strong European footprint, Fairfield operates globally and helps businesses navigate through business cycles, with quick responses and multi-pronged approaches. The company values an eye for insightful take on global matters, ably backed by a team of exceptionally experienced researchers. With a strong repository of syndicated market research reports that are continuously published & updated to ensure the ever-changing needs of customers are met with absolute promptness.
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