According to Custom Market Insights (CMI), the report on “Global Smart Eyewear Technology Market “includes comprehensive information regarding the market’s historical and current estimations, future projections, market trends, competition, market dynamics as well as recent developments in the Smart Eyewear Technology market forecast from 2022 to 2030.
According to the study, the market accounted for around USD9 billion in 2021 and is expected to grow at a CAGR of 19% during 2022-2030. The market for global Smart Eyewear Technology market is forecasted to account for nearly USD 33 billion by 2030.
Smart Eyewear Technology Market: Overview
Smart eyewear is a category of electronic eyeglasses that provides the wearer with digitalized visuals. It facilitates information collecting, photo and video capture, and recording. It employs speech and gesture trackers embedded behind the frame’s arms. Smart eyewear has built-in speakers and can play music, make hands-free calls, and monitor user activity. Clear and tinted (sunglass lens) glasses are offered for these gadgets.
Browse the full “Smart Eyewear Technology Market Size, Trends and Insights By Technology (Virtual Reality, Augmented Reality), By Product (Head Mounted Display, Mixed Reality Holographic Displays, Assisted Reality Glasses), By Operating System (Android, iOS, Windows), By End User (Manufacturing, Healthcare, Military & Defense, Transportation & Logistics, Construction & Architecture, Gaming Industry, Others), and By Region – Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2023–2032″ report at https://www.custommarketinsights.com/report/smart-eyewear-technology-market/
The introduction of innovative smart eyewear boosts the growth of the market
The introduction of new products and collaboration are the key strategies adopted by market players
The market is anticipated to increase significantly in the coming years due to the rising demand for augmented reality devices for training across various industries, including the aerospace, defense, automotive, and medical sectors, which are the market’s key growth drivers. Moreover, owing to their many unique characteristics, such as hands-free calling, facial recognition, and most importantly, their ease of use, smart eyewear is becoming more and more popular.
Furthermore, throughout the projected period, market players would benefit from growing investments made by large corporations in the creation of technologically innovative smart glass. However, over the projection period, the market’s growth is anticipated to be constrained by high AR smart glasses costs, growing concerns about eye health, and durability challenges.
Smart Eyewear Technology is segmented into technology, product, operating system, and end user. Smart eyewear supported on the Android operating system is becoming increasingly popular due to its various advantages. Throughout the forecast period, revenue from the Android category is anticipated to account for a comparably higher percentage of the global Smart Eyewear Technology market than other operating system types.
North America is estimated to dominate the Smart Eyewear Technology market, followed by Europe. The majority of the top technology companies are located in the North American region, which is boosting the growth of the Smart Eyewear Technology market. Additionally, the Asia Pacific region is projected to exhibit tremendous growth during the forecast period.
China and Japan are the key drivers of demand in APAC. In order to offer a telemedicine solution based on smart glasses that give real-time footage, telemedicine startup Vsee and AR smart glass developer Vuzix announced their partnership in the year 2019. One of the top logistics companies, DHL, partially implemented “Google Glass Enterprise Edition” in most of its warehouses the same year. The business claimed that using AR smart glasses had enhanced productivity and decreased workload by 15%. The need for smart eyeglasses will further increase as new technologies such as 5G and IIoT mature.
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Key Players Insights
Players are focused on broadening their product portfolio and market presence in response to the increasing number of customers by forming strategic alliances and collaborations. Currently, manufacturers are competing for both the mainstream and premium consumer markets.
Market participants are currently implementing recent digital strategies in response to the escalating need for cutting-edge technology. They are also considering how to create new products and develop newer eyewear designs. In addition, in order to ensure a wide range of products, producers and retailers have increased their emphasis on promotional activities. The development of the market has greatly benefited from all of these efforts.
Some of the prominent players
- Google Inc.
- Microsoft Corporation
- Epson America, Inc
- Meta Company
- Samsung Electronics Co., Ltd
- Recon Instruments, Inc
- Kopin Corporation
- Sony Corporation
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