Authored By: Sarah
24 Jun 2024

 Smart Glasses Market to grow by USD 65.75 million between 2023-2027

According to a research report “ Smart Glasses Market” by Product (Developer, Commercial) OS (Android, Windows, Others) End-user (Enterprise, Individual) Geography (North America, Europe, APAC, Middle East and Africa, South America)- Global Forecast to 2027 published by Technavio, the market size is estimated to grow by USD 65.75 million at a CAGR of  13.35% during the forecast period. In the manufacturing sector, the adoption of industrial automation is on the rise, leading to a decreased reliance on human labor and enhanced efficiency. This trend presents significant opportunities for the integration of smart glasses in industrial processes. Notably, AGL Automation Ltd, a leading process automation solutions provider, announced a partnership with Epson in October 2020 to incorporate augmented reality through Epson's Moverio BT-350 smart glasses into their offerings. This collaboration underscores the growing potential of smart glasses in addressing skill gaps and delivering critical information to the industrial workforce, ultimately boosting productivity and profitability..

Browse market data tables, figures, and in-depth TOC on “Smart Glasses Market” by Product (Developer, Commercial) OS (Android, Windows, Others) End-user (Enterprise, Individual) Geography (North America, Europe, APAC, Middle East and Africa, South America) Global Forecast to 2027.

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By Product, the Developer segment is projected to dominate the market size in 2024.

In the burgeoning market for smart glasses, Android OS emerges as a preferred choice for developers and consumers alike. This versatile operating system powers a multitude of functions, enabling seamless interconnectivity, email management, GPS navigation, Bluetooth connectivity, and touchscreen control. Android OS also facilitates the synchronization of software and hardware with applications, and supports the use of third-party programs via wireless application protocol (WAP). With its widespread popularity on mobile computing devices and wearables, Android OS is a game-changer in the smart glasses industry.

By OS, Android  segment is expected to hold the largest market size for the year 2024.

In the smart glasses market, prosumers, or developers, serve as pivotal figures, contributing to the design, manufacture, and advancement of these innovative devices. Vendors provide developer versions of smart glasses, allowing these individuals to experiment and propose enhancements. These developer kits, exclusively accessible to developers, generate substantial revenue for vendors through individual sales.

North America is forecasted to hold the largest market size by region in 2024.

The North American market holds a significant position in the smart glasses industry, driven by its pioneering role in technology adoption. Notable crowdfunding platforms, including Kickstarter PBC and Indiegogo Inc., facilitate funding for innovative product development, such as advanced smart glasses. Major OEMs, including Alphabet, Atheer Inc., Optinvent, Vuzix, and Microsoft, are headquartered in this region. Additionally, the US market serves as the first point of access for numerous cutting-edge products.

The Smart Glasses Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • AGC Inc.
  • Alphabet Inc.
  • Atheer Inc
  • Elbit Systems Ltd.
  • Good Sky Electric Co. Ltd.
  • Huawei Technologies Co. Ltd.
  • Iristick NV
  • MAD Gaze Ltd.
  • Magic Leap Inc.
  • Microsoft Corp.
  • Nreal Ltd.
  • Optinvent
  • OXSIGHT Ltd.
  • Seiko Epson Corp.
  • Sony Group Corp.
  • ThirdEye Gen Inc
  • Toshiba Corp.
  • Vuzix Corp.
  • Xinology Co. Ltd.
  • 3M Co.
.

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Research Analysis Overview

The Smart Glasses Market encompasses a range of advanced technologies, including Healthcare and Industrial smart glasses, which offer enhanced experiences through features like AR (Augmented Reality) and 5G integration. These glasses incorporate various types of glass such as Thermochromic, Photochromic, and Electrochromic, providing heat rejection, light control, and acoustic insulation. Immersive smart glasses deliver crystal clear sound through Audio technology, while Sensors and Miniaturization enable smart automation. In the healthcare sector, smart glasses are used in emergency room areas for privacy and efficiency. Industrial applications include the use of Switchable glasses for specialty tasks. Smart windows and Electrochromic technology are integral to Minimalist architecture, offering automatic tinting and energy savings. Heads-Up Display (HUD) in smart glasses enhances the driving experience in Autonomous Vehicles. With advancements in SPD glass and privacy smart glass, the market continues to evolve, offering innovative solutions for various industries.

Market Research Overview

The Smart Glasses Market encompasses advanced technologies such as Electrochromic, PDLC, Thermochromic, Photochromic, and Electrochromic glass. These smart glasses offer unique features like dimming capabilities, switchable from transparent to opaque, and provide privacy in various unique spaces, including hospital partitions, office spaces, and even sightseeing destinations. The automotive industry also benefits from smart glass applications, with features like automatic tinting, sun visors, windshields, and rear-view mirrors. Aerospace companies utilize smart glass panels for heat rejection, light control, and acoustic insulation in their aircraft. Industrial applications include smart automation in emergency room areas and privacy smart glass for specialty glass in gaming and Linux environments. Smart glasses also offer immersive experiences through HDMI and USB connectivity, Bluetooth, and the Linux kernel operating system. With minimalist architecture and heads-up display (HUD) integration, smart glasses provide crystal clear sound through audio smart glasses, sensors, and minimalist design. The market continues to evolve with advancements in 5G technologies, wearable technology, and smart windows, offering an AR experience and minimalizing the need for conventional glasses.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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