AR Glasses Market – Overview
The AR glasses market is anticipated to expand at a stellar growth rate over the forecast period from 2021 to 2031. The rising demand for augmented reality (AR) glasses for users to experience science fiction is a key factor fueling the growth of AR glasses market. The development of AR glasses takes cue from the 1980s and 1990s science fiction movies Terminator and Robocop that gave audiences a peek into the world through the eyes of a cyborg laden with data.
The research report studies the AR glasses market based on type and region. Based on type, optical see through and video see through are the key segments into which the AR glasses market is divided.
The research report on AR glasses market provides an in-depth analysis of growth drivers, trends and opportunities of the said market for the forecast period from 2021 to 2031. The report studies key regions in the AR glasses market and provides estimations of their revenue share during the forecast period.
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AR Glasses Market –Trends and Opportunities
Key factor fueling the demand for AR glasses is augmenting actual experience with helpful information and data. The objective of AR smart glasses is to enhance a user’s experience for day-to-day domestic and professional use. AR glasses work through a combination of display, sensors, and accelerometers combined with smart software and internet connectivity.
The continual rise in demand for AR glasses has led them to evolve to be discreet and highly functional from the first ones that were wildly expensive, clunky, and experimental. With entry of more companies in the fray, cost has dropped dramatically, and competition is expected to drive design and innovation to lead to further drop in cost.
Focus of prominent players to improve the functionality of AR glasses will create new growth frontiers in the AR glasses market.
Some of the functionalities that key players are working on are;
- With the integration of a microphone, AR glasses can communicate with Siri or Alexa for voice controlled searches for results to appear in front of the eyes.
- The use of simultaneous localization and mapping algorithms can enable smart AR glasses to gauge the area around to use hand gestures to control the images to be viewed
- To have message notifications that appear discreetly in the field of view that can be noted and dismissed without the need to pull out the phone
- The integration of GPS technology to result into virtual arrows to float up into view and help the user find way to be never lost again
AR Glasses Market – Competitive Landscape
The AR glasses market is considerably consolidated with the presence of a handful large players that compete to enjoy large slice of the revenue pie.
Google stands as one of the front-runners to commercialize AR glasses with the launch of Google Glass in 2012. The brand label pushed sales of Google AR glasses for the first 2,000 pairs to be sold immediately despite the high price tag. Nonetheless, the availability of other devices with longer battery life and faster processors ramped up competition, with Google Glass generally regarded as a flop.
The speculation around launch of Apple AR glasses with its release estimated somewhere in 2022, or even 2023 is significant. Importantly, there remains certainty in the features to be added in the devices with the technology branded as Apple Glass.
Some of the key companies operating in the AR glasses market are Alphabet Inc., Avegant Corp., HTC Corp., Samsung Electronics Co. Ltd., Sony Group Corp., Atheer Inc., Everysight Ltd, Microsoft Corp., Seiko Epson Corp., and Vuzix Corp.
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AR Glasses Market – Regional Analysis
North America is the leading region in the AR market. Significant demand for hi-tech wearable devices in the U.S. and Canada along with readiness to spend money on these products accounts for large revenue contribution of North America to AR glasses market.
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