Dublin, April 12, 2024 (GLOBE NEWSWIRE) -- The "AR and VR Smart Glasses Market Report by Type (Optical See Through, Video See Through), End Use (Gaming Industry, Healthcare, Education, Military and Defense, and Others), and Region 2024-2032" report has been added to ResearchAndMarkets.com's offering.
The global AR and VR smart glasses market reached US$ 16.6 billion in 2023. The market is projected to reach US$ 49.1 Billion by 2032, exhibiting a growth rate (CAGR) of 12.8% during 2023-2032.
The market is majorly driven by the widespread adoption of AR and VR technology in numerous end-use industries, including e-commerce, healthcare, military and defense, and education. This can be attributed to continual advancements in artificial intelligence (AI), machine learning (ML) and the internet of things (IoT) in combination with big data and analytics. In line with this, the widespread demand for augmented and virtual reality games, along with the rising number of gamers, are resulting in a higher product uptake on the global level.
Moreover, rapid digitization, the increasing penetration of high-speed 5G internet, and rapid developments in mobile applications are also creating a positive market outlook. The market is further driven by continual product innovations, such as the integration of 3D interactive content with 360-degree video, enhanced face and object tracking, and better speech recognition.
Some of the other factors providing an impetus to the market include the emergence of industry 4.0, rapid industrialization, inflating disposable income levels and extensive research and development (R&D) activities.
Key Market Segmentation
The report provides an analysis of the key trends in each sub-segment of the global AR and VR smart glasses market report, along with forecasts at the global, regional and country level from 2024-2032. The report has categorized the market based on type and end use.
Breakup by Type:
- Optical See Through
- Video See Through
Breakup by End Use:
- Gaming Industry
- Healthcare
- Education
- Military & Defense
- Others
Breakup by Region:
- North America
- Asia-Pacific
- Europe
- Latin America
- Middle East and Africa
Competitive Landscape
The competitive landscape of the industry has also been examined along with the profiles of the key players, being:
- Avegant Corp.
- Everysight Ltd. (Elbit Systems Ltd.)
- HTC Corporation
- Kopin Corporation
- Microsoft Corporation
- Optinvent
- Seiko Epson Corporation
- Sony Interactive Entertainment LLC (Sony Group Corporation)
- Vuzix
Key Questions Answered in This Report
1. What was the size of the global AR and VR smart glasses market in 2023?
2. What is the expected growth rate of the global AR and VR smart glasses market during 2024-2032?
3. What are the key factors driving the global AR and VR smart glasses market?
4. What has been the impact of COVID-19 on the global AR and VR smart glasses market?
5. What is the breakup of the global AR and VR smart glasses market based on type?
6. What is the breakup of the global AR and VR smart glasses market based on the end use?
7. What are the key regions in the global AR and VR smart glasses market?
8. Who are the key players/companies in the global AR and VR smart glasses market?
For more information about this report visit https://www.researchandmarkets.com/r/dhrv7d
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