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AR and VR Smart Glasses Market | Global Industry is projected to reach USD 31 Billion by Forecast to 2023(February 06, 2018)
AR and VR Smart Glasses Market Overview:
Technological innovations have paved the way for numerous opportunities, significant among them being augmented reality and virtual reality market. Market Research Future, who specializes in market reports related to the information and communications sector among others, recently published a report on this market. CAGR of 13 per cent approximately has been forecasted for the AR and VR smart glasses market during the forecast period.
Increase in the production and demand for the smartphone market has been influential to the development of AR and VR markets. Amplified emphasis on development of technology and improved product types have been essential to increasing the growth pace of the industry. Cloud computing has been a critical factor in increasing the demand that the market is currently experiencing. An established internet infrastructure has been an important driving factor for the sector.
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Major Key Players:
Some of the prominent players in the global AR and VR smart glasses market are Osterhout Design Group (U.S.), MicroOLED (France), Ricoh (Japan), Samsung Group (South Korea), Royole Corporation (U.S.), Seiko Epson Corporation (Japan), Microsoft Corporation (U.S.) and Optinvent (France).
The market for AR and VR Smart Glasses Market is categorized by device type into product, and application. The market is further divided on the basis on the device type into binocular and monocular. Moreover, based on the product, the market is segmented into integrated smart glasses, mobile phone smart glasses, and external smart glasses. Whereas, based on the application, the market is segmented into military, industrial, gaming, education, and commercial.
Detailed Regional Analysis:
Regions such as Asia Pacific, North America, Europe, and Rest of the World are being studied for the global AR and VR smart glasses market. It has been observed that North America is expected to account for the major chunk of the market, while Europe is anticipated to grow at a relatively rapid rate during the forecast period. The North American market growth can be credited to technological developments and amplified adoption of cloud-based technologies through various industry verticals.
Global Competitive Analysis:
The industry players in the segment are efficiently utilizing their primary resources to initiate long lasting growth changes. As a result, a trend of volume-driven growth has been witnessed in the market of late with the development of different varieties of product types. The sector is undergoing considerable transformation which has accelerated the growth pace of the sector. The best growth opportunities for this sector can be availed of by ensuring ongoing process improvements and maintaining financial flexibility to invest in the optimal strategies. Conversely, with companies aiming to capture a considerable share of the market segment as early as possible, experimentation with various advantage points is being seriously considered and implemented.
Samsung Electronics' Relúm?no glasses are using the Gear VR system to aid visually impaired users to see the world around them more clearly. The glasses are dependent on the less-expensive Gear VR hardware and a mobile app, Relúm?no that could make visual aids more available to visually impaired users. Activities like watching TV and reading can be made much easier as well. The system is said to feature four distinct modes for improving vision such as regular mode, color invert mode, partial vision mode, and display color filter mode.
Kopin has recently debuted its second-generation Solos glasses. They are lightweight and have integrated audio and voice control. Apart from Solos, Kopin has been working on developing a new 2K OLED microdisplay, which could take the VR industry to the next level, not only in terms of performance, but also in size.
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An artificial intelligence and robotics company, Rokid has recently announced its plans to release a pair of AR glasses called Rokid Glass. Their planned product will be a standalone headset, theat doesn’t require tethering to a smartphone or external PC. The device can run on batteries and includes an internal processor for handling computing on its own. The Bluetooth and Wi-Fi in the device communicate with a smartphone for additional processing power.
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