Smart glasses are capable of functioning as an ordinary glasses as well as smart functioning such as Facebook to navigation, light augmented reality, HD photography, and video recording. These smart glasses offer h, ands-free mobile computing, unique efficient, and accurate access to information, data collection, and communication. The global smart glasses market reached at a market valuation of USD XX.X Million in 2018 and is estimated to grow at a CAGR of XX.X% during the forecast period, i.e., 2019-2024.
Growth Drivers – Smart glasses Market
Growing Boom of Smart Devices
Smart devices are witnessing great dem, and around the world. Technology loving consumers around the world are willing to adopt every smart technology. Smart devices are making consumer’s live more comfortable such as smart watch, and smart glasses. These smart devices have become a necessity for everyone, consumers are adopting such devices to stay ahead in today’s competitive environment. Smart devices are being adopted among almost every sector such as manufacturing industries, corporate jobs, and others to bring even more efficiency to the workplace.
Growing Disposable Income
Consumers across the world are getting financially stronger as the World GDP is growing. This rise in disposable income has allowed them to spend more on smart technologies. Smart glasses are available in different colors, textures, and shapes to suit everyone’s needs. Further, growing spending power of consumers is likely to bolster the growth of global smart glasses market in upcoming years. Apart from this, rapid urbanization, continuous advancements in smart glasses, and growing recognition of smart glasses around the world are several factors that are poised to increase the dem, and for smart glasses in future.
Advanced Features of Smart Glasses
Smart glasses are equipped with a range of technologies such as SLAM (Simultaneous Localization, and Mapping), AR (Augmented Reality), and others, which makes them super desirable among consumers. Presence of such advanced technologies in smart glasses are expanding the range of applications of smart glasses and introduce new growth opportunities for market vendors. As consumers are realizing smart glass’s technical attributes, and distinctive aesthetics, the dem, and is thriving at remarkable pace across the globe, especially in developed nations.
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Barriers – Smart glasses Market
However, high cost is the smart glasses is the real enemy of smart glasses market growth. The smart glass’s cost can vary from 500$ to 1500$ for a unit, this intense cost of smart glasses makes them limited to affluent population only. Low adoption rate among consumers with weak disposable income is a major barrier in the growth of global smart glasses market.
Market Trends – Smart Glasses Market
Online Stores for Smart Glasses Products
The manufactures of such products are strongly considering online channels to market & distribute these Smart Glasses products. Online stores have emerged as one of the most favorable sales channels in the Smart Glasses products market since it is easily accessible to a large consumer base around the globe.
The smart glasses market is segmented in different categories including by type, by end user, and by distribution channel. The market is segmented by type into binocular smart glasses, monocular smart glasses, audio AR smart glasses, and mixed reality smart glasses. Among this segment, binocular smart glasses segment is expected to capture significant shares of the market in 2018. Global binocular smart glasses segment was totaled at USD XXX.X billion in 2018 and is projected to reach USD XXX.X billion in 2024 at a CAGR of XX.X% from 2019 to 2024. Moreover, based on the end user, the smart glasses market is further sub-segmented into enterprise user, and individual user. Among which individual end user segment is about to register a remarkable growth rate in upcoming years. The report is further breakdown into one more section: by distribution channels (online stores, offline stores).
Regionally, the report offers an analysis of North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. When it comes to smart glasses market, North America is the leader in smart glasses market. The North America region has acquired significant market shares and is poised to continue its dominance in the coming years.
The report also covers detailed competitive analysis of major market players such as VUZIX, Vigo Technologies Inc., Epson India Pvt Ltd., DAQRI, Optinvent, Google, Sony Corporation, Bose Corporation, Microsoft, North Inc., Vision Service Plan, and other notable players of the global smart glasses market. Competitive landscape analysis provides detailed strategic analysis of the company’s business, and performance such as financial information, revenue breakup by business segment, and by geography, SWOT Analysis, key facts, company overview, business strategy, key product offerings, marketing, and distribution strategies, new product development, recent news (acquisition, expansion, technology development, research & development, and other market activities).
- Binocular Smart Glasses
- Monocular Smart Glasses
- Audio AR Smart Glasses
- Mixed Reality Smart Glasses
By End User
- Enterprise User
- Individual User
By Distribution Channel:
- Offline Channels
- Online Channels
- North America (U.S. & Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Taiwan, Australia, New Zeal, and, and Rest of Asia Pacific)
- Latin America (Brazil, Mexico, Argentina, and Rest of Latin America)
- Middle East & Africa (GCC, North Africa, South Africa, and Rest of Middle East & Africa)
Timeline Considered for Analysis:
- 2018: Base Year
- 2019: Estimated Year
- 2019 to 2024: Forecast Period
Research Scope, and Deliverables
Overview & Executive Summary
Market Drivers, Trends, Challenges, and Opportunities
Market Size, and Forecast Projections
Macroeconomic Indicators of Various Countries Impacting the Growth of the Market
Extensive Coverage of Industry Players including Recent Product Launches, and Market Activities
Porter’s Five Force Analysis
Market Segmentation Analysis:
Industry report analyzes the global smart glasses market by the following segments:
- End User
- Distribution Channel
Customization: We also offers customization’s in the industry report as per the company’s specific needs.
Key Questions Answered in the Global Smart Glasses Industry Report
- What is the overall market size in 2018? What will be the market growth during the forecast period i.e. 2019-2024?
- Which region would have high dem, and for product in the upcoming years?
- What are the factors driving the growth of the market?
- Which sub-market will make the most significant contribution to the market?
- What are the market opportunities for existing, and entry-level players?
- What are various long-term, and short-term strategies adopted by the market players?