AR and VR Smart Glasses Market
Market Overview
Augmented and virtual reality has pervaded cyberspace and entered everyday life. AR and VR intelligent eyewear dominate the video game and ready-to-wear technology market. They are being used for numerous applications like interior designing, watching immersive sports while in the stadium, and conjuring maps of regions while travelling. An augmented smart glass can display clear vision, statistics, game scores, body vitals and other information on the tiny screen. The augmented smart glass can be connected wirelessly to the internet and instructions via Siri or Alexa.
On the other hand, AR and VR Smart Glasses Market Size are used to create an artificial world that can be accessed only with these advanced lenses. The main purpose of this high-tech visualisation is to create an illusion and to make its carrier live a parallel universe that does not exist. Gaming companies mostly promote these smart glasses to lure players into a multiverse of exciting adventures.
It has been estimated that the AR and VR smart glasses market has been valued at USD 9.09 billion in 2020 and will rise to 28.50 billion in 2028. CAGR growth is projected to reach a record level of 15.36% for this period.
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Market Segmentation
The market for wearable devices has increased manifold due to its effortless applications and enhanced decision-making technology. AR smart glasses are being used in the textile industry to create smart clothing, especially for healthcare. A smart garment collects data from the human body and projects it onto a smartphone screen or an AR smart lens with a built-in application. This may display information about heart rate, respiratory problems and existing illnesses such as diabetes.
An AR smart glass comes in handy for a satisfying shopping experience; manufacturers allow consumers to decide the look and feel of a product by displaying its properties and design onto the wearable glasses before choosing the best item to buy.
By using AR, it is also possible to instantly access educational information from any place or topic. It can also display detailed maps onto the eyewear screen to follow. Particularly suited to navigating by car or in the aerospace industry. These smart glasses are accompanied by additional features such as video and audio recording, hands-free imaging, real-time sharing from the wearer's point of view and direct information analysis. Classic usage is for military purposes of navigating deadly terrain.
VR smart glasses are used for playing multiple player games from across the world. The wearer can enter a multiverse and completely change its avatar to fit the virtual reality universe. The images created on the smart glass VR are superimposed computing graphics with interactive options to continue.
Regional Classification
North America continues to dominate this segment of the smart eyewear market, followed by industries in the Asia-Pacific region. The key companies advancing in this technology are Microsoft Corporation – US, Samsung Group – South Korea, Royole Corporation – US, and Seiko Epson Corporation – Japan.
Industry News
AR and VR smart glasses are an expensive technology; it requires a lot of monetary investment to continue to produce these in the market. But with the onset of 5G technology and the spread of digitilization, this intelligent wearable mechanism is all set to rise.
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