The global AR and VR smart glasses market size reached US$ 16.6 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 49.1 Billion by 2032, exhibiting a growth rate (CAGR) of 12.44% during 2024-2032.
Market Size in 2023
US$ 16.6 Billion
Market Forecast in 2032
US$ 49.1 Billion
Market Growth Rate 2024-2032
VR (virtual reality) and AR (augmented reality) glasses refer to smart glasses that bridge the gap between the physical and digital worlds. AR glasses assist in changing images or modifying views of the real world while assisting users with everyday tasks and allowing them to express themselves more effectively. In contrast, VR glasses provide an immersive virtual experience, thus allowing users to feel the experience of being in an actual location. With AR and VR glasses, wearers can record still images, videos, and audio remotely, share their point of view in real-time, access information hands-free, exchange data, and augment their real world. Additionally, users can analyze information relevant to their surroundings through these glasses. As a result, AR and VR smart glasses can enhance and even replace existing technology solutions within enterprise supply chains, thereby enhancing workplace efficiency, productivity, and compliance.
AR and VR Smart Glasses Market Trends:
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:
IMARC Group provides an analysis of the key trends in each sub-segment of the global AR and VR smart glassesmarket report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on type and end use.
Breakup by Type:
Optical See Through
Video See Through
Breakup by End Use:
Military and Defense
Breakup by Region:
Middle East and Africa
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) and Vuzix.
Base Year of the Analysis
Type, End Use, Region
Asia Pacific, Europe, North America, Latin America, Middle East and Africa
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Avegant Corp., Everysight Ltd. (Elbit Systems Ltd.), HTC Corporation, Kopin Corporation, Microsoft Corporation, Optinvent, Seiko Epson Corporation, Sony Interactive Entertainment LLC (Sony Group Corporation) and Vuzix
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Key Questions Answered in This Report
The global AR and VR smart glasses market was valued at US$ 16.6 Billion in 2023.
We expect the global AR and VR smart glasses market to exhibit a CAGR of 12.44% during 2024-2032.
The rising adoption of AR and VR glasses, as they can record still images, videos, and audio remotely, share their point of view in real-time, access information hands-free, exchange data, etc., is primarily driving the global AR and VR smart glasses market.
The sudden outbreak of the COVID-19 pandemic has led to the growing deployment of AR and VR smart glasses, as they can enhance and replace existing technologies within enterprise supply chains, thereby increasing workplace efficiency, productivity, compliance, etc.
Based on the type, the global AR and VR smart glasses market has been segregated into optical see through and video see through. Currently, optical see through holds the largest market share.
Based on the end use, the global AR and VR smart glasses market can be bifurcated into gaming industry, healthcare, education, military and defense, and others. Among these, the gaming industry exhibits clear dominance in the market.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global AR and VR smart glasses market include Avegant Corp., Everysight Ltd. (Elbit Systems Ltd.), HTC Corporation, Kopin Corporation, Microsoft Corporation, Optinvent, Seiko Epson Corporation, Sony Interactive Entertainment LLC (Sony Group Corporation), and Vuzix.
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