The global market for Smart AR Glasses is projected to reach 3.4 million units by 2020
Revolutionizing Applications
in the Enterprise & Industrial Sectors to Drive the Smart AR Glasses Market,
According to a New Report by Global Industry Analysts, Inc.
GIA launches comprehensive
analysis of industry segments, trends, growth drivers, market share, size and
demand forecasts on the global Smart Augmented Reality (AR) Glasses market. The global market for Smart AR
Glasses is projected to reach 3.4 million units by 2020, driven by workflow
transforming applications in the enterprise and industrial sectors and the expected
launch of less expensive and feature rich models.
Smart Augmented Reality
(AR) Glasses represent innovative wearable computerized eyewear that captures
objects or places from real world that the wearer sees with the help of
integrated camera and recorders, and provides critical information on the same
in the form of augmented elements such as graphic images or text. Capable of
allowing users to seamlessly experience an augmented real-world environment and
without the clutter of wearable computers or computing backpacks, smart glasses
are redefining the meaning of augmented reality. Although currently a small
market in the overall smart wearables and mobile augmented reality devices field,
smart AR glasses are finding growing interest among technology enthusiasts and
early adopters. Decline in average selling prices, evolution of app ecosystem,
introduction of feature rich models, and technology saturation in smartphone and
tablets markets is expected to help smart
glasses score over the currently dominant smart computing devices in the
long run.
Strong growth is projected
for the market in the coming years driven by innovative applications that are
set to revolutionize workflows in an increasingly connected and data-centric world.
The hands-free view of real world with augmented element is of high importance in
the fast evolving global enterprise, on the industrial work floor, and in
healthcare applications, among others. In the industrial and manufacturing
sector, mobile augmented reality promises to offer massive production
efficiencies and cost reductions. The technology makes information on the plant
floor come alive in a manner that enables easy processing and analysis. The
growing popularity of preventive healthcare, self-care and self-diagnosis will
pave the way for medically-oriented augmented reality in the healthcare sector.
In the enterprise sector, smart glasses along with smartphones and tablet PCs
will evolve into modern worker's second brain, and help enterprise AR to bring
in rapid improvements in employee productivity by enabling enhanced data
visualization & augmented cross-referencing of information. Cloud computing
IT architectures and enterprise mobility & BYOD compliant corporate
networks additionally provide the supportive infrastructure required for the
rapid proliferation of smart AR glasses. The consumer segment is also expected
to add to the demand prospects in the medium to long term period with usage
particularly driven by location based search and gaming applications.
As stated by the new
market research report on Smart
Augmented Reality Glasses, the United States represents the largest market worldwide,
followed distantly by Europe. The huge hype created by the introduction of Google
Glass helped elevate consumer awareness levels, thus augmenting growth
prospects for smart AR glasses in the country. Huge investments on R&D and
product developments from leading innovators and technology majors located in
the country are also driving tremendous prospects for smart AR glasses. The
country also represents the fastest growing market with a projected CAGR of 122%
over the analysis period.
Key players covered in the
report include APX Labs, Inc., Atheer, Inc., Augmate, Augmedix, castAR, DAQRI,
Google Inc., Kopin Corporation Inc., Imagine Mobile Augmented Reality Ltd.,
Laster Technologies, Lumus Ltd., Magic Leap, Inc., Meta Glasses, Metaio GmbH,
Microsoft Corporation, Optinvent SA, Osterhout Design Group (ODG), Penny AB,
Pristine Inc., Qualcomm Technologies, Inc., Recon Instruments Inc., Vuzix
Corporation, Epson America, Inc., Sony Corporation, Toshiba Corporation, and
Wikitude GmbH, among others.
The research report titled
“Smart Augmented Reality (AR) Glasses:
A Global Strategic Business Report”, announced by Global Industry Analysts,
Inc., provides a comprehensive review of industry
trends, growth drivers, product launches, mergers, acquisitions and
other strategic industry activities. The report provides market estimates and
projections for all major geographic markets including the United States,
Canada, Japan, Europe (France, Germany, Italy, UK, and Rest of Europe),
Asia-Pacific, and Rest of World.
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