Industry Background:
Smart glasses are known as wearable computing devices that add information to what the user sees. These devices function in a way exact similar to mobile phones and tablets and have an ability of the processing and implementing various programs and applications. A majority of the smart glasses currently used in the market are embedded in the touch and voice command features. The market for smart glasses is expanding due to the rising demand for it in automobile applications, but there are some factors like technical issues and lack of awareness related to the long term benefits of the smart glasses can hinder the growing stage of the market
This growth is primarily driven by Growing demand for smart glass in automobile applications and strong government support through mandates.
Globally, a noticeable market trend is evident Architects are suggesting the use of smart technology with respect to architecture
. The Technology sector in the North America 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 DAQRI (United States), Epson Corporation (Japan), Alphabet Inc. (United States), Lenovo Corporation (China), Vuzix (United States), Microsoft Corporation (United States), Magic Leap (United States), Recon Instruments (Canada), Sony Corporation (Japan) and Osterhaut Design Group (ODG) (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:
Melon, the EEG-tracking headband company that raised nearly triple its initial goal in a 2013 crowdfunding campaign, has been acquired by DAQRI, an enterprise augmented reality company founded in 2010, for an undisclosed amount
Augmented reality smart helmet company Daqri announced that it had acquired 1066 Labs, a leading head-mounted display manufacturer focused on serving enterprise clients with augmented reality solutions
Market Drivers
- Growing demand for smart glass in automobile applications
- strong government support through mandates
Market Trend
- Architects are suggesting the use of smart technology with respect to architecture
- Conversion of conventional glasses to smart glasses
Restraints
- Higher cost of smart glass
- Technical issues related to performance of smart glass
Opportunities
Use of the smart glass in the consumer product creating a boom in the market
Challenges
High initial cost for R&D and manufacturing and Lack of awareness of long-term benefits of smart glass
AMA Research follow 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 mostly 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 showcase the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include 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, Smartglasses Study Sheds Light on
The Smartglasses Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Smartglasses industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Smartglasses industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey 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 value they currently claim, or capture the new addressable opportunity.