About Smart Glasses Market for Industrial Applications
Smart glasses are AR devices that are widely regarded as the next big technological advance, following Google's launch of the Google Glass project. They are more comfortable to wear and can be used constantly, unlike other devices. Smart glasses are also used for industrial purposes such as reading manuals, checking the status of a system, and detecting possible errors.
There are many industrial applications for smart glasses. Manufacturing, service and maintenance, and construction are some of the sectors that might be the first to adopt them. In service and maintenance plants, it is easier to pull up a virtual manual while repairing an engine than to hold one in hand. Smart glasses can provide a step-by-step guide on repairing an engine along with videos, making the job easier for technicians. Viewing 3D designs of buildings during construction and comparing them with actual buildings are also easier with smart glasses. An architect can compare original designs side by side with the actual building and analyze the progress of the construction.
Technavio’s analysts forecast the global smart glasses market to grow at a CAGR of 146.3% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global smart glasses market for industrial applications for the period 2015-2020. To calculate the market size, the report covers the sales of smart glasses for industrial applications.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Smart Glasses Market for Industrial Applications 2016-2020
Technavio recognizes the following companies as the key players in the Global Smart Glasses Market for Industrial Applications: Atheer, Imagine Mobile Augmented Reality, Konica Minolta, Laster Technologies, Lumus, Meta, Osterhout Design Group, Optinvent, Penny, Recon, Six15 Technologies, Technical Illusions and Vuzix.
Commenting on the report, an analyst from Technavio’s team said: “Several AR vendors have made use of crowdfunding to raise money for their projects. This benefits the market in several ways. It increases awareness among potential customers. Crowdfunding also encourages new vendors to enter the market, leading to increased competition and lower product prices.”
According to the report, an increasing number of vendors are showing interest in developing smart glasses. This increased participation from several firms highlights the importance attached to smart glasses as a major medium for AR. This market is still in its early stages and will benefit significantly as more vendors enter. Vendor participation will result in increased awareness about smart glasses among customers, who will have several options to choose from.
Further, the report states that the cost of smart glasses is a major concern for consumers.
Atheer, Imagine Mobile Augmented Reality, Konica Minolta, Laster Technologies, Lumus, Meta, Osterhout Design Group, Optinvent, Penny, Recon, Six15 Technologies, Technical Illusions, Vuzix.
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