US, Europe, And Middle East and Africa AR/VR/MR Smart Glasses Market Size By End Use (Commercial and Consumer), By Product Type (Windows, Android, and IOS), By Technology (Mixed reality (MR), Augmented Reality (AR), and Virtual reality (VR)), By Application (Manufacturing, Healthcare, Warehouse and Logistics), And Forecast
US Europe And Middle East and Africa AR VR MR Smart Glasses Market
US, Europe, And Middle East and Africa AR/VR/MR Smart Glasses Market Size By End Use (Commercial and Consumer), By Product Type (Windows, Android, and IOS), By Technology (Mixed reality (MR), Augmented Reality (AR), and Virtual reality (VR)), By Application (Manufacturing, Healthcare, Warehouse and Logistics), And Forecast
Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
US, Europe, And Middle East and Africa AR/VR/MR Smart Glasses Market Size And Forecast
US, Europe, And Middle East and Africa AR/VR/MR Smart Glasses Market size was valued at USD 710.52 Million in 2020 and is projected to reach USD 3806.23 Million by 2028, growing at a CAGR of 27.10% from 2021 to 2028.
The increased importance of AR in the healthcare sector and increasing investment in healthcare, mainly from surgical treatments are the main factors fueling the market growth in the forecast period. The US, Europe, And Middle East and Africa report provide a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
US, Europe, And Middle East and Africa AR/VR/MR Smart Glasses Market Definition
AR and VR smart glasses? Think of them as computers you wear! They're a way for us to connect with technology, and a lot of people believe these augmented reality and virtual reality glasses are the next big thing. Imagine having hands-free access to so much! You could take photos, record video, and even share what you're seeing right now. Plus, you can get info instantly, and these glasses can even augment the real world, adding a layer of digital information on top of what you already see. Basically, they let you really dig into and understand what's going on around you, all by taking in info visually. These AR/VR smart glasses are often the first taste many people get of the world of AR and VR.
Imagine AR/VR/MR Smart glasses - they're like computers you wear! Think of them as a bridge between you and the digital world, helping you make sense of everything around you. These glasses are packed with features and have come a long way in recent years. They're already shaking things up in industries like manufacturing and logistics, helping with everything from field service to inspections. Believe it or not, market trends suggest that a whopping 93% of big industrial companies are using these smart glasses for their work. They're not just a gadget; they could seriously upgrade or even replace existing tech in supply chains and reshape how we work. Companies using augmented reality wearables are seeing some pretty amazing results, like boosting efficiency, productivity, and compliance. It's expected that this technology will be a real game-changer as it gets even better!
US, Europe, And Middle East and Africa AR/VR/MR Smart Glasses Market Overview
Rising Demand for AR/VR/MR technology in the Gaming Industry driving the market growth. These technologies are intended for free movement while projecting images over whatever an individual looks at. The idea extends to smartphones, with apps and games, such as Pokemon Go which utilizes the phone’s camera to track surroundings and overlay additional information on top of it on the screen. These technologies are changing the whole experience of gaming and hence there is an increasing demand, consequently driving the AR/VR/MR/ smart glasses market.
In addition, the utilization of these hybrid devices between sunglasses or eyeglasses and smart accessories in several business contexts such as the construction sector, the automotive sector, the transport sector, the utility industry, etc. appears to be destined to grow and further drive the Smart Glass Market. Moreover, the increased importance of AR in the healthcare sector and increasing investment in healthcare, mainly from surgical treatments are the main factors fueling the market growth in the forecast period. These requirements will fuel more growth possibilities in the forecast period.
US, Europe, And Middle East and Africa AR/VR/MR Smart Glasses MarketSegmentation Analysis
The US, Europe, And Middle East and Africa AR/VR/MR Smart Glasses Market is segmented on the basis of End Use, Product Type, Technology, and Application.
US, Europe, And Middle East and Africa AR/VR/MR Smart Glasses Market, By End Use
• Commercial• Consumer
To Get Summarized Market Report By End Use-
Okay, so when we look at who's using these AR/VR/MR smart glasses, we basically see two big groupscommercial and consumer. But get thisthe commercial side grabbed the biggest chunk of the market back in 2020. And even cooler, they're expected to grow like crazy – we're talking a 27.43% jump each year! That's because AR/VR/MR Smart glasses can do so much for businesses. Think about how they can shake things up in retail, for connecting with customers (B2C), or between businesses (B2B) – across tons of industries like manufacturing, construction, architecture, healthcare, and even keeping track of things in warehouses and for deliveries. For example, in manufacturing, using AR/VR/MR Smart glasses can really help make things run smoother, boost efficiency, and just plain make more stuff!
US, Europe, And Middle East and Africa AR/VR/MR Smart Glasses Market, By Product Type
• Windows• Android• IOS
Okay, so when we look at different Product Types, the market basically splits into three campsWindows, Android, and IOS. Back in 2020, Windows was the big dog, grabbing the biggest slice of the pie. And get this – they're expected to keep growing like crazy, maybe even at a rate of 25.17% each year! What's so cool about Windows is that it gives you both mixed reality and augmented reality. It's all thanks to sensors, 3D displays, and awesome sound. You can just use your natural gestures – looking, talking, and using your hands – to mess around in the digital and real world. The Windows Mixed Reality headsets, powered by the Windows operating system, create a truly immersive, virtual experience through their Windows Holographic platform.
US, Europe, And Middle East and Africa AR/VR/MR Smart Glasses Market, By Technology
So, when we look at the AR/VR/MR Smart Glasses Market in the US, Europe, and the Middle East and Africa, we can break it down by the technology used. That means looking at Mixed Reality (MR), Augmented Reality (AR), and Virtual Reality (VR) glasses. Turns out, Mixed Reality (MR) was the big winner in 2020, grabbing the largest slice of the market. And get this, it's expected to keep growing at a pretty impressive rate – around 27.26% each year! What's so cool about MR? Well, it's all about blending the real world with digital stuff to create some really interesting visuals. Think of all the possibilities! It can help us understand environments better with spatial mapping, track our hands and eyes, even let us use our voice. Plus, it offers amazing collaboration tools and helps pinpoint locations in both the real and virtual worlds.
US, Europe, And Middle East and Africa AR/VR/MR Smart Glasses Market, By Application
• Manufacturing• Healthcare• Warehouse and Logistics• Construction & Architecture• Field Service• Military & Defense• Education• Others
When we look at Application, the market breaks down into areas like Manufacturing, Healthcare, Warehouse and Logistics, Construction & Architecture, Field Service, Military & Defense, Education, and a catch-all "Others" category. Back in 2020, Manufacturing led the pack, and we're expecting it to keep growing strong, at a CAGR of 25.98% over the next few years. Why? Because AR and MR smart glasses are becoming super popular in manufacturing! They're making things run smoother and boosting production. Using these glasses in manufacturing helps businesses cut down on mistakes, so they can create top-notch products that keep customers happy. Plus, they offer awesome, immersive training for everyone – from seasoned pros to new hires – with SOPs, visuals, and video guides. It's like having a SOP right in front of your eyes!
Key Players
Want to know what's happening in the "US, Europe, And Middle East and Africa AR/VR/MR Smart Glasses Market"? Our study report gives you the inside scoop, focusing on key players like Microsoft, Dynabook Europe GmbH, Sony Corporation, Samsung, Lenovo, Gonbes, Vuzix Corporation, and the rest others. We've even got a whole section just on them! Our analysts dive into their financial statements, benchmark their products, and do a SWOT analysis. Plus, we break down the competitive scene, looking at their strategies, market share, and where they rank. It's all about understanding who's who and what they're doing in this exciting market.
Key Developments
Company Name
Key Development
Description
Dynabook Europe GmbH
Launch
• Dynabook Europe GmbH launched version 3.0 of Vision DE Suite
Vuzix Corporation
Business Expansion
• Vuzix Corporation increased supplier of Smart Glasses and Augmented Reality (AR) technology and products
Report Scope
REPORT ATTRIBUTES
DETAILS
STUDY PERIOD
2017-2028
BASE YEAR
2020
FORECAST PERIOD
2021-2028
HISTORICAL PERIOD
2017-2019
UNIT
Value (USD Million)
KEY COMPANIES PROFILED
Microsoft, Dynabook Europe GmbH, Sony Corporation, Samsung, Lenovo, Gonbes, Vuzix Corporation, and the rest others.
SEGMENTS COVERED
By End Use, By Product Type, By Technology, and By Application.
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We take a look at the market using both numbers and insights, breaking it down by what people can afford and other important stuff. We'll give you the market value (in USD Billion) for every piece of the puzzle. We'll also point out the region and segment that's likely to grow the fastest and be the biggest overall. Expect a deep dive into each region, showing where the product/service is being used and what's influencing the market there. See how the big players stack up against each other, including recent new service/product launches, partnerships, expansions, and acquisitions. Get the lowdown on key companies with company overviews, insights, product comparisons, and SWOT analyses. We'll paint a picture of the industry's present and future, considering recent happenings like growth opportunities and the challenges in both emerging and established regions. We'll even dig in with Porter's five forces analysis to give you a complete understanding. Plus, we'll walk you through the Value Chain to give you an inside look at how everything connects. You'll get a feel for the market's vibe, along with a peek at future growth opportunities. And for the first six months, you'll have an analyst on standby to help you out.
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