Smart Eyewear Technology Market size was estimated at $3.8 billion in 2021 and is expected to reach $9.5 billion by 2031, growing at a CAGR of 12.1% during the forecast period of 2022 to 2031.
Smart Eyewear Technology Market
Smart eyewear is the new trend preferred by people around the world. Smart eyewear technology is an advanced lens system that can automatically provide information about an entity insight such as product, facial recognition, and information about the landscape. Smart eyewear is a wireless technology that offers life monitoring services and creates a platform for taking photos and videos. Smart eyewear integrated with augmented reality technology assist in everyday life. Moreover, smart eyewear is operated via smart electronic devices such as mobiles or tablets.
Smart Eyewear Technology Market Growth and Trend
The high adoption of virtual reality technology is expected to influence the growth of the smart eyewear technology market over the forecast period. In addition, massive demand for smart devices enabled with augmented reality and virtual reality technology will prompt business growth. Moreover, the features like handsfree still image, video and audio recording, on-the-spot access to information, and real-time sharing of the wearer’s point of view are propelling the growth of the global smart eyewear technology market. Augmented reality solutions are invaluable in industrial applications. It allows technicians to receive step-by-step visual prompts to execute tasks such as assembling, repairing, or maintenance procedures.
Furthermore, smart eyewear technology is user-friendly as it allows the user to control the device by gestures, tapping, voice control, or by smart devices such as mobiles or tablets. Additionally, increasing use of IoT-based technology and the emergence of 5G network may result in various opportunities for the growth of the smart eyewear technology market during the forecast timeframe. Moreover, the increasing investment by prominent players such as Google, Microsoft, and Facebook into the smart eyewear technology market is driving the market growth.
Smart Eyewear Technology Market Segmentation
The global smart eyewear technology market is segmented by technology, product type, application, and end-users. By technology, the market is classified into augmented reality, virtual reality, and others. The virtual reality segment is expected to witness the highest growth over the forecast timeframe. Based on product type, the market is divided into head-mounted display, assisted reality glasses, mixed reality holographic display, smart helmets, and others. The head-mounted display segment holds the largest share in the market and is anticipated to witness rapid growth over the forecast period. By end-users, the market includes consumer electronics, healthcare, and enterprises. The consumer electronics segment holds a significant share in the market. By application, the market is segmented into industrial applications and other applications.
Smart Eyewear Technology Market Country Analysis
North America is dominating the global market owing to the increased adoption of IoT applications and artificial intelligence. However, there will be a significant development in the smart eyewear market in the Asia Pacific region owing to the ongoing technological advancements.
Smart Eyewear Technology Market Share and Competition
The key players operating in the smart eyewear technology market are Google Inc, Sony Corporation, Microsoft Corporation, Epson America, Inc, Lumus Ltd, Vuzix Corporation, Meta Company, Optinvent SA, Osterhout Design Group, Kopin Corporation, Lenovo, Recon Instruments, Samsung Electronics Co., Ltd.
Report Highlights
• Historical data available (as per request)
• Estimation/projections/forecast for revenue and unit sales (2022 – 2031)
• Data breakdown for every market segment (2022 – 2031)
• Gross margin and profitability analysis of companies
• Price analysis of each product type
• Business trend and expansion analysis
• Import and export analysis
• Competition analysis/market share
• Supply chain analysis
• Client list and case studies
• Market entry strategy
Industry Segmentation and Revenue Breakdown
Technology Analysis (Revenue, USD Million, 2022 - 2031)
• Augmented Reality
• Virtual Reality
• Other
Product Type Analysis (Revenue, USD Million, 2022 - 2031)
• Head-Mounted Displays
• Assisted Reality Glasses
• Mixed Reality Holographic Displays
• Smart Helmets
• Others
Application Analysis (Revenue, USD Million, 2022 - 2031)
• Industrial Applications
• Others
End-Users Analysis (Revenue, USD Million, 2022 - 2031)
• Consumer Electronics
• Healthcare
• Enterprise
Region Analysis (Revenue, USD Million, 2022 – 2031)
• United States
• Canada
• Mexico
• France
• Germany
• Italy
• Spain
• United Kingdom
• Russia
• China
• India
• Philippines
• Malaysia
• Australia
• Austria
• South Korea
• Middle East
• Japan
• Africa
• Rest of World
Smart Eyewear Technology Market Companies
• Google Inc
• Sony Corporation
• Microsoft Corporation
• Epson America, Inc
• Lumus Ltd
• Vuzix Corporation
• Meta Company
• Optinvent SA
• Osterhout Design Group
• Kopin Corporation
• Lenovo
• Recon Instruments
• Samsung Electronics Co., Ltd
Available Versions:-
• United States Smart Eyewear Technology Industry Research Report
• Europe Smart Eyewear Technology Industry Research Report
• Asia Pacific Smart Eyewear Technology Industry Research Report
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