The Global Market for Smart Augmented Reality (AR) Glasses is Forecast to Reach 28 Million Units by 2024
The Rise of Augmented
Reality as the Third Wave of Enterprise Mobility to Drive the Global Market for
Smart Augmented Reality (AR) Glasses, 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 Augmented Reality (AR)
Glasses is forecast to reach 28 million units by 2024, driven by the technology’s embodiment as the ultimate
tool for portability, convenience and productivity capable of shaping the
future of smart mobility.
A type of a wearable device, smart AR
glass is a huge step forward in wearable computing mobility. The time is
therefore ripe for disruptive technologies applications like augmented reality
(AR) which help push up the commercial value of mobile and wearable devices.
Hands-free operation and computing and greater and improved cognitive
processing of information are primary benefits offered by AR technologies. By
enhancing the physical world with digital data and image, AR helps in
transforming data visualization experiences thus improving data interpretation,
understanding of information while simultaneously reducing cognitive load. The
promise of augmented reality based hands-free experience is the single most
important value offered by smart AR glasses which will drive its future.
Signaling the rise of AR technology is
the growing number of products and technology solutions that are moving from
test-bed projects to real world commercial deployments. The growth in the AR
market and ROI on AR projects and solutions currently remain reliant on the
level of awareness and the ability of consumers/end-users to recognize and
fully appreciate the benefits offered. While initial hype of AR technology was
largely focused around consumer applications, real growth in the coming years
is forecast to come from manufacturing, logistics, healthcare retail and the
enterprise sector. Development of AR apps for
the enterprise and business sector is already witnessing healthy growth, a
trend that works in favor of expanding real world applications and revenue
potential in this sector.
In the coming years, growth in the
market will be driven by the expected decline in average selling prices,
evolution of app ecosystems, introduction of feature rich AR eyeglass models,
and steady expansion of innovative applications in the enterprise, industrial
and consumer markets. In the industrial and enterprise sectors, smart AR
glasses are helping revolutionize workflows in ways hitherto unthought-of. The
hands-free view of real world is of high importance in the fast evolving global
enterprise, on industrial work floor, and in healthcare systems worldwide. The
mobility and flexibility promised by smart AR glasses in the industrial and
manufacturing sector brings in 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. In the healthcare sector
benefits of medically-oriented augmented reality will create a symbiosis
between AR growth and preventive healthcare, self-care and self-diagnosis
practices.
As stated by the new market research
report on Smart Augmented Reality (AR) Glasses the United States represents the largest and the
fastest growing market worldwide with a CAGR of 92.3% over the analysis period.
The growth in the country is led by factors such as a strong technology
spending environment; over 75% penetration of smartphones and the resulting
strong opportunities for tethered smart AR glasses; strong spending on BYOD
which represents one among the highest in the world; domestic presence of
pioneering technology companies like Google and Microsoft; and home to the largest
number of companies worldwide piloting test projects of AR in the mobility
space.
Major players in the market include Atheer
Inc., Avegant Corp., DAQRI, Epson America Inc., Everysight LTD, GlassUp, Google
Inc., LAFORGE OPTICAL, Laster Technologies, Lumus Ltd., Magic Leap Inc., Meta
Company, Microsoft Corporation, NVIS Inc., Optinvent SA, Osterhout Design
Group, Penny AB, Recon Instruments Inc., Samsung, Sony Corporation, Sulon
Technologies Inc., Tobii AB, TRIVISIO, Upskill, Vrvana Inc. and Vuzix
Corporation, 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 market trends, issues, drivers, mergers, acquisitions and other strategic
industry activities of global companies.
The report provides market estimates and projections for all major
geographic markets such as the USA, Canada, Japan, Europe (France, Germany,
Italy, UK and Rest of Europe), Asia-Pacific and Rest of World.
Global Industry
Analysts, Inc. 6150 Hellyer Ave., San Jose CA 95138, USA, All Rights Reserved.
ReplyDelete"An insightful report showcasing the exponential growth and potential of Smart Augmented Reality (AR) Glasses in various industries. The forecasted rise in adoption highlights the transformative impact of AR technology, particularly in sectors like healthcare, manufacturing, and retail. The emphasis on hands-free operation, improved cognitive processing, and real-world applications illustrates the immense value these smart AR glasses bring to the enterprise and consumer markets. It's fascinating to see how AR is revolutionizing workflows and creating novel experiences, heralding a new era of smart mobility." For more details, visit Medical Training VR