What is Augmented Reality Headsets Market?
The global augumented reality headsets market is expected to grow at a significant pace during the forecast period, according to the AMA study. Rising adoption of AR devices across different sectors and rising smartphone & tablet penetration across the world are expected to be some of the major factors aiding into the growth for the market. However, the market is expected to witness some decline in the growth during FY 2020 but it is again expected to rise with a healthy pace once the COVID-19 pandemic is over.
Highlights from Augmented Reality Headsets Market Study
Attributes | Details |
---|
Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Apple, Inc. (United States), Epson (Japan), Elbit Systems (Israel), Google, LLC (United States), Kopin Corporation (United States), Lucyd (United States), Magic Leap (United States), Microsoft (United States), Niantic (United States), ThirdEye (United States), Toshiba (Japan), Vuzix (United States) and Zappar Limited (United Kingdom) |
The vendors in this market are majorly focusing on developing innovative products and solutions in order to cater to the market's demands to remain competitive in the global market. According to the recent global industry crisis due to outbreak of COVID-19 is expected to be one of the major challenges for the vendors of this market as the production and markets of different industries have been shut down for an ambiguous period of time. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Augmented Reality Headsets market throughout the forecasted period.
Apple, Inc. (United States), Epson (Japan), Elbit Systems (Israel), Google, LLC (United States), Kopin Corporation (United States), Lucyd (United States), Magic Leap (United States), Microsoft (United States), Niantic (United States), ThirdEye (United States), Toshiba (Japan), Vuzix (United States) and Zappar Limited (United Kingdom) are some of the key players profiled in the study. Augmented Reality Headsets Market Segmentation:
Scope | Sub-Segments |
---|
Application / End User | Healthcare & Pharmaceuticals, Construction, Media & Entertainment, Sports and Others |
Type | Standalone HMD, Tethered HMD and Screenless Viewer |
Sales Channel | Online,Offline |
Component | Hardware,Software |
On the basis of geography, the market of Augmented Reality Headsets has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Rising Adoption of Smart Devices and Growing Demand for Wireless AR/VR Devices
Market Growth Drivers:
Increasing Adoption for AR Devices in Patient Care Management, and Medical Training and Education, Rising Smartphone & Tablet Penetration Across the World and Rising Implementation in Sports Games such as Racing Drones
Challenges:
Short-term Challenges due to Reduced Operations Across Different Industries & Economic Crisis caused by COVID-19 Pandemic Across the World
Restraints:
High Cost of Product
Opportunities:
Opportunities in Emerging Economies
Market Leaders & Development Strategies
Google acquired North in June 2020, which makes intelligent glasses similar to Google Glass. The company makes smart glasses that superimpose computer information in the real world, similar to Google Glass.
In September 2022, Magic Leap 2, Magic Leap's next-generation enterprise augmented reality platform, will be commercially available. Magic Leap 2 is currently available to all customers in the United States, Canada, United Kingdom, EU (Austria, Belgium, Denmark, Finland, France, Germany, Ireland, Italy, Netherlands, Norway, Poland, Portugal, Spain, Sweden and Switzerland). ), Kingdom of Saudi Arabia. It will be released before the end of the year in Japan and Singapore.
Stringent Government Regulations Regarding Lock-Down of Cities & Shutting Down of Operations Across Different Industries Across the World Due to the COVID-19 Pandemic is Impacting the Demand for Augumented Reality Headsets
Analyst Comment
Since the COVID-19 virus outbreak in December 2019, the disease has spread to more than 200 countries across the world along with the World Health Organization declaring it a public health emergency. The impact of the COVID-19 has already affected many industries and will affect the augumented reality headsets market in FY 2020. The outbreak of COVID-19 has brought effects on many aspects, like scheduled public transportation cancellations; shutting down of education sector across different regions in the world; downfall in the real estate sector; travel bans and quarantines; closed operations across hotels & restaurants; banning of public gatherings & events; large slow-down in the supply chain of different markets; stock market unpredictability; declining business assurance, and uncertainty in the future market dynamics.