The global AR and VR smart glasses market size was US$ 12,923.00 million in 2021. The global AR and VR smart glasses market is forecast to grow to US$ 42,158.70 million by 2030 by growing at a compound annual growth rate (CAGR) of 15.6% during the forecast period from 2022 to 2030.
AR/VR smart glasses are eyewear devices that incorporate technology that allows users to see the combination of real-world and virtual information. Smart glasses have a variety of features that allow users to analyze information relevant to their surroundings.
COVID-19 Impact Analysis
COVID-19 outbreak resulted in a significant gap between production and demand. China, one of the prominent manufacturers of smart glasses, was also an epicenter of the COVID-19 pandemic. Thus, it significantly hampered the entire electronic industry. Moreover, disruptions in manufacturing activities and halt on international trade activities impacted the global AR and VR smart glasses market.
Factors Influencing the Market
The rising trends of wearable technology will surge the growth of the global AR and VR smart glasses market. In addition, growing technological advancements are boosting the growth of the AR/VR smart glasses market.
Individuals are becoming more interested in AR/VR glasses due to their real-time capabilities. Touchless interfaces have become more adaptable, and the convenience of remote expert assistance will surge the growth of the global AR and VR smart glasses market.
Lack of investments in the AR/VR industry may limit the growth of the market.
Growing disposable income and rising employment rate will benefit the global AR and VR smart glasses market. Furthermore, rising demand for AR devices and their application in healthcare will escalate the growth of the overall AR and VR smart glasses market.
The advent of 5G is forecast to offer ample growth opportunities for the global AR and VR smart glasses market.
Regional Analysis
Asia Pacific is forecast to share the highest market share in the global AR and VR smart glasses market. It is due to the growing deployment of wearable technology. In addition, the benefits of connected devices, such as regular track on health conditions, are likely to fuel the growth of the AR and VR smart glasses market.
Growing government investments and initiatives in emerging economies will contribute to the growth of the market. Furthermore, the rising rate of internet users will accelerate the growth of the Asia-Pacific AR and VR smart glasses market. In China, there is an extreme range of users of online video. In addition, the growing adoption of mobile phones will significantly surge the growth of the AR and VR smart glasses market.
Competitors in the Market
Market Segmentation
The global AR and VR smart glasses market segmentation focuses on Type, End-User, and Region.
By Type
By End-User
By Region
