AR VR Smart Glasses Market Size to Grow by USD 6.21 Billion: By Type (optical see-through and video see-through) and Region- Forecast till 2026
NEW YORK, Jan. 13, 2022 /PRNewswire/ -- The "AR VR Smart Glasses Market by Type (optical see-through and video see-through) and Geography (North America, APAC, Europe, South America, and MEA) - Forecast and Analysis 2022-2026" report has been added to Technavio's offering. With ISO 9001:2015 certification, Technavio is proudly partnering with more than 100 Fortune 500 companies for over 16 years.
The AR VR Smart Glasses market value is set to grow by USD 6.212 billion, progressing at a CAGR of 13.37% from 2021 to 2026, as per the latest report by Technavio
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Key Market Dynamics:
AR VR smart glasses are computer glasses that add contextual information to what the wearer views. AR VR is primarily experienced via a wearable glass device, HUDs, or smartphone application. The objective of smart glasses is to blend the user's vision with the virtual world effortlessly. Smart glasses work through an amalgamation of the display, sensors, and accelerometers, coupled with smart software and internet connectivity. AR VR smart glasses, therefore, enhance a user's experience in the real world rather than replacing it. Smart glasses can be equipped with AR VR smart technology for day-to-day domestic and professional uses. This will boost the demand for AR VR smart glasses. The launch of various products such as Google Glass Enterprise Edition 2, an optical HUD, and Microsoft HoloLens 2, a pair of MR smart glasses with high-definition 3D optical HUDs and spatial sound, will drive the global AR VR smart glasses market during the forecast period. Thus, the growing adoption of AR VR smart glasses will positively impact the market in focus during the forecast period.
The AR VR smart glasses market share growth by the optical see-through segment will be significant during the forecast period. The optical see-through glasses display the visual perception of the physical world with computer-generated elements that appear to coexist spatially. These optical see-through glasses have various applications across various end-use industries. Due to the growing applications and demand for optical see-through glasses, vendors in the market have been taking initiatives that will propel the market in focus during the forecast period.
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33% of the market's growth will originate from North America during the forecast period. The US and Canada are the key markets for AR VR smart glasses in North America. Market growth in this region will be faster than the growth of the market in South America.
The increased awareness of the potential benefits of using smart glasses will facilitate the AR VR smart glasses market growth in North America over the forecast period.
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