Industry Background:
The surge of new communication and information technologies has tremendously influenced how individuals communicate with one another and how companies interact with consumers. AR glasses differ in various ways from other mobile and wearable technologies. Augmented Reality glasses are expected to replace smartphones. Glasses provide a hands-free alternative to the phone. However, things are move at a rapid pace in this digital era.This growth is primarily driven by Rise in Augmented Reality as the Third Wave of Enterprise Mobility
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Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Volume Unit | Million Units |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Electronic Equipment & Instruments sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Microsoft (United States), Google (United States), Vuzix (United States), Verysight (Israel), DAQRI (United States), Qualcomm (United States), ODG (United States), Epson (Japan), GlassUp (Italy) and DigiLens (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In January 2022, Qualcomm Technologies, Inc. partnered with Microsoft to deliver custom AR chips to enable a new wave of power efficient, lightweight AR glasses to deliver rich and immersive experiences and used software like Microsoft Mesh and Snapdragon Spaces™ XR Developer Platform. This partnership helped Microsoft to expand its presence in AR glass market
In May 2019, Google announced a new version of business-focused Glass augmented reality headset, which cost around USD 999. Additionally, in Jan Microsoft patented Augmented Reality, which helps to compact take on AR devices from Microsoft.High focus on providing customized solutions to customers in order to remain competitive. This industry seeing more number of traditional players coming up rather than niche players. To provide the best services to the customers, companies are spending more on marketing based solutions.
Influencing Trend:
Digitalization
Market Growth Drivers:
Rise in Augmented Reality as the Third Wave of Enterprise Mobility, Rise In Bring Your Own Devices Trend and Increase Use of Android
Challenges:
Short Battery Life in AR Glasses
Restraints:
Augmented Reality Glasses Are Still In Its Development Stage, Henceforth, the Major Factor Restraining the Growth of Augmented Reality Glasses Market Is Its Lack of Awareness and High Cost
Opportunities:
High Penetration of Smartphones Makes Strong Opportunity for AR Glasses
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of AR Glass Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of AR Glass Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of AR Glass players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, AR Glass Study Sheds Light on
The AR Glass Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the AR Glass industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where AR Glass industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.