Global Smart Glasses Market 2018-2022
About Smart Glasses
Smart glasses are among the smart wearables that consumers procure and use. Smart wearables are devices that are worn on the body either as an accessory or as a part of the material used in clothing. These smart wearables can connect to the internet and provide the user with data about their surroundings. Smart glasses display real-time information directly onto the user’s field of vision by using AR techniques. These smart glasses can perform more complex tasks, such as run applications and support internet connectivity.
Technavio’s analysts forecast the global smart glasses market to grow at a CAGR of 42.87% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global smart glasses market for 2017-2021. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Smart Glasses Market 2018-2022
Technavio recognizes the following companies as the key players in the global smart glasses market: DAQRI, Epson, ODG, Optinvent, and Vuzix.
Other Prominent Vendors in the market are: Apple, Google, Laster Technologies, Lenovo, Magic Leap, Microsoft, Meta, Oculus VR, and Sony.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is scope for varied players to venture in to smart glasses market. The smart glasses market remains unexplored and has a wide scope for varied players to venture in to market. Conventional eyewear manufacturers manufacture variables, which are targeted for use by sportspersons. Smart glasses are different from conventional glasses, considering the additional functionalities they possess. The smart glasses consist of sensors and wireless technology that are connected to various other smart wearables and devices, such as smartphone and smartwatches.”
According to the report, one driver in the market is automation of operations. The automation of various processes in the manufacturing industry is reducing the need for human labor. According to the World Economic Forum 2016 held at Davos-Klosters, Switzerland, the Fourth Industrial Revolution is underway and will based on fully automated industries and will eliminate millions of jobs over the next five to 10 years. It is expected that nearly 50% of the jobs in the US will be taken over by technology. With the increase in the automation of various operations, the workforce required for manufacturing activities will fall dramatically.
Further, the report states that one challenge in the market is uncertain market conditions. Technavio has identified certain pessimistic aspects to the smart glasses market. Though the market will witness a declining trend in terms of ASP of the device, the revenue will also witness a declining trend during the forecast period. This is because, the market for smart glasses is extremely volatile and is sensitive to several factors, including the acceptance of AR among the consumers, the lack of funding, and the aesthetics of the products.
DAQRI, Epson, ODG, Optinvent, Vuzix, Apple, Google, Laster Technologies, Lenovo, Magic Leap, Microsoft, Meta, Oculus VR, and Sony.
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