Product Code: SE 9154
The global smart glasses market is estimated to grow from USD 878.8 million in 2024 to USD 4,129.3 million in 2030; it is expected to grow at a CAGR of 29.4% during the forecast period. The smart glasses market has a promising growth potential due to several factors such as the growing adoption of smart glasses in the industrial sector, increased demand for AR and MR smart glasses, and rapid technological developments. Developments in 5G technologies and consumer market expansion are expected to create massive opportunities for the smart glasses market.
Scope of the Report |
Years Considered for the Study | 2020-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Units Considered | Value (USD Million) |
Segments | By Type, Feature, Industry, and Region |
Regions covered | North America, Europe, APAC, RoW |
"Rising adoption in industrial sector to drive the smart glasses market."
The market has a promising growth potential due to several factors, including the rapid technological advancements in technologies such as AR, displays, and sensors, increased demand for AR and MR smart glasses, and increasing adoption in industrial sector. It presents significant opportunities through developments in 5G technologies, and consumer market expansion. Increasing adoption in industries such as manufacturing, healthcare, warehousing, and construction for remote assistance, employee training, and hands-free capabilities is boosting their demand. Their ability to enhance efficiency and safety for workers is creating demand for smart glasses from industries.
"Monocular smart glasses segment is expected to witness significant CAGR during the forecast period."
Monocular smart glasses provide a single display that projects information to one eye. This gives the user complete freedom for one eye, making them suitable for situations that require surrounding vision. It also provides an unobstructed view of the surroundings. Monocular smart glasses are often lightweight and compact and offer enhanced comfort. They are used in logistics, maintenance, and field services industries where hands-free access to information is required. Monocular smart glasses enable users to access information hands-free while working on other tasks improving their efficiency. In construction, maintenance, and logistics, workers can view data using these glasses, and operate machines/equipment without needing other devices.
"Advanced smart glasses to witness significant CAGR for feature segment during the forecast period."
Advanced smart glasses integrate high-quality audio systems. These devices have speakers that are built into the frames, and project sound directly into the user's ears, allowing for music playback, phone calls, and interaction with voice assistants. It is equipped with a microphone that reduces background noise and records clear audio for calls and voice commands. The camera in advanced smart glass is a major selling point. this allows users to capture and share experiences seamlessly. They also have integrated cameras for recording videos.
"Consumer industry set to hold a significant market share by 2030."
In the consumer market, smart glasses enhance personal experiences by integrating digital features into daily life. These devices offer a range of functionalities such as media consumption, navigation, and social interaction. They have emerged as a versatile tool in the consumer industry, enhancing experiences across various domains such as entertainment, communication, gaming, and navigation. Their ability to overlay digital information onto the real world through AR provides unique applications that cater to diverse consumer needs.
"Asia Pacific is likely to hold prominent market share in 2024."
The smart glasses market in the Asia Pacific is categorized further into Japan, China, India, South Korea and Rest of Asia Pacific. China being the technological prowess, India being the most attractive region considering the youth in the country adopting to smart wear technology are expected to be the drivers for the growth of the market in the region. The presence of key technology providers and massive consumer market opportunities in the China, innovation in manufacturing and advanced technologies creating high demand in Japan, government support & technological advancements to create opportunities in South Korea and increasing adoption by young Indian population to create massive growth opportunities for the smart glasses market.
Breakdown of primaries
A variety of executives from key organizations operating in the smart glasses market were interviewed in-depth, including CEOs, marketing directors, and innovation and technology directors.
- By Company Type: Tier 1 = 50%, Tier 2 = 30%, and Tier 3 = 20%
- By Designation: C-level Executives = 35%, Directors = 30%, and Others (sales, marketing, and product managers, as well as members of various organizations) = 35%
- By Region: North America =40%, Europe = 25%, Asia Pacific =20%, and Rest of the World = 15%
Key players profiled in this report
Meta (US), Vuzix (US), Seiko Epson Corporation (Japan), EssilorLuxottica (France), Amazon.com, Inc. (US), TCL Electronics Holdings Limited (China), LUCYD EYEWEAR (US), Lenovo (China), Huawei Investment & Holding Co., Ltd. (China), and Xiaomi (China) are the some of the key players in the smart glasses market. These leading companies possess a wide portfolio of products, establishing a prominent presence in established as well as emerging markets. The study provides a detailed competitive analysis of these key players in the smart glasses market, presenting their company profiles, most recent developments, and key market strategies.
Research Coverage
This report offers detailed insights into the smart glasses market based on Type (monocular and binocular), Feature (Basic, and Advanced), Industry (Education & Research, Automotive, Healthcare, Manufacturing, Warehousing, Consumer, and Others (Agriculture, Public safety, and Construction), and region (North America, Europe, Asia Pacific, and Rest of the World (includes the Middle East, South America and Africa.)
The report also comprehensively reviews the smart glasses market drivers, restraints, opportunities, and challenges. The report also covers qualitative aspects in addition to the quantitative aspects of these markets.
Reasons to buy the report:
The report will help the leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall market and the sub-segments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the smart glasses market's pulse and provides information on key market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
Analysis of key drivers (rapid technological advancement, increased demand for AR and MR smart glasses, and growing adoption in industrial sector), restraints (regulatory constraints and safety concerns, and dynamic consumer preferences) opportunities (developments in 5G technology, and consumer market expansion) and challenges (technical limitations).
Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the smart glasses market
Market Development: Comprehensive information about lucrative markets - the report analyses the smart glasses market across varied regions
Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the smart glasses market
Competitive Assessment: In-depth assessment of market shares, growth strategies, and product offerings of leading players like Meta (US), Vuzix (US), Seiko Epson Corporation (Japan), EssilorLuxottica (France), Amazon.com, Inc. (US), TCL Electronics Holdings Limited (China), LUCYD EYEWEAR (US), Lenovo (China), Huawei Investment & Holding Co., Ltd. (China), and Xiaomi (China) among others.
TABLE OF CONTENTS
1 INTRODUCTION
- 1.1 STUDY OBJECTIVES
- 1.2 MARKET DEFINITION
- 1.3 STUDY SCOPE
- 1.3.1 INCLUSIONS AND EXCLUSIONS
- 1.3.2 YEARS CONSIDERED
- 1.3.3 CURRENCY CONSIDERED
- 1.3.4 UNITS CONSIDERED
- 1.4 LIMITATIONS
- 1.5 STAKEHOLDERS
2 RESEARCH METHODOLOGY
- 2.1 RESEARCH DATA
- 2.1.1 SECONDARY DATA
- 2.1.1.1 Major secondary sources
- 2.1.1.2 Key data from secondary sources
- 2.1.2 PRIMARY DATA
- 2.1.2.1 Primary interviews with experts
- 2.1.2.2 List of key primary interview participants
- 2.1.2.3 Breakdown of primary interviews
- 2.1.2.4 Key data from primary sources
- 2.1.3 SECONDARY AND PRIMARY RESEARCH
- 2.1.3.1 Key industry insights
- 2.2 MARKET SIZE ESTIMATION
- 2.2.1 BOTTOM-UP APPROACH
- 2.2.1.1 Approach to arrive at market size using bottom-up analysis
- 2.2.1.2 Approach to obtain company-specific information on smart glasses value chain
- 2.2.2 TOP-DOWN APPROACH
- 2.2.2.1 Approach to arrive at market size using top-down analysis
- 2.2.3 SUPPLY-SIDE ANALYSIS
- 2.3 DATA TRIANGULATION
- 2.4 RESEARCH ASSUMPTIONS
- 2.5 RESEARCH LIMITATIONS
- 2.6 RISK ASSESSMENT
3 EXECUTIVE SUMMARY
4 PREMIUM INSIGHTS
- 4.1 ATTRACTIVE GROWTH OPPORTUNITIES FOR PLAYERS IN SMART GLASSES MARKET
- 4.2 SMART GLASSES MARKET, BY TYPE
- 4.3 SMART GLASSES MARKET, BY FEATURE
- 4.4 SMART GLASSES MARKET, BY INDUSTRY
- 4.5 SMART GLASSES MARKET, BY COUNTRY
5 MARKET OVERVIEW
- 5.1 INTRODUCTION
- 5.2 MARKET DYNAMICS
- 5.2.1 DRIVERS
- 5.2.1.1 Rapid technological advancements enhancing smart glasses
- 5.2.1.2 Increased demand for AR and MR smart glasses
- 5.2.1.3 Rising adoption in industrial sector
- 5.2.2 RESTRAINTS
- 5.2.2.1 Regulatory constraints and safety concerns
- 5.2.2.2 Dynamic consumer preferences
- 5.2.3 OPPORTUNITIES
- 5.2.3.1 Developments in 5G Technologies
- 5.2.3.2 Consumer Market Expansion
- 5.2.4 CHALLENGES
- 5.2.4.1 Technical limitations
- 5.3 VALUE CHAIN ANALYSIS
- 5.4 ECOSYSTEM ANALYSIS
- 5.5 PRICING ANALYSIS
- 5.5.1 AVERAGE SELLING PRICING TREND OF KEY PLAYERS, BY FEATURE
- 5.5.2 AVERAGE SELLING PRICING TREND, BY FEATURE (USD)
- 5.5.3 INDICATIVE PRICING TREND, BY REGION
- 5.6 INVESTMENT AND FUNDING SCENARIO
- 5.7 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS
- 5.8 TECHNOLOGY ANALYSIS
- 5.8.1 KEY TECHNOLOGIES
- 5.8.1.1 AR and VR
- 5.8.1.2 Display technologies
- 5.8.2 COMPLEMENTARY TECHNOLOGIES
- 5.8.2.1 5G
- 5.8.2.2 Artificial intelligence
- 5.8.3 ADJACENT TECHNOLOGIES
- 5.8.3.1 Input method technologies
- 5.8.3.2 Integration of smart glasses with internet of things (IoT) and smart home devices
- 5.9 PORTER'S FIVE FORCES ANALYSIS
- 5.10 KEY STAKEHOLDERS AND BUYING CRITERIA
- 5.10.1 KEY STAKEHOLDERS IN BUYING PROCESS
- 5.10.2 BUYING CRITERIA
- 5.11 TRADE ANALYSIS
- 5.11.1 IMPORT SCENARIO (HS CODE) 9004
- 5.11.2 EXPORT SCENARIO (HS CODE) 9004
- 5.12 PATENT ANALYSIS
- 5.13 CASE STUDIES
- 5.13.1 SMART GLASSES IN CUSTOMER SUPPORT AND OPERATIONS
- 5.13.2 SMART GLASSES IN REMOTE SUPPORT
- 5.13.3 SMART GLASSES IN HEALTHCARE
- 5.13.4 SMART GLASSES IN LOGISTICS
- 5.14 REGULATORY LANDSCAPE
- 5.14.1 GLOBAL REGULATIONS
- 5.14.2 GOVERNMENT REGULATIONS
- 5.15 KEY CONFERENCES AND EVENTS, 2024-2025
- 5.16 IMPACT OF AI/GEN AI ON SMART GLASSES MARKET
- 5.16.1 TOP USE CASES AND MARKET POTENTIAL
- 5.16.2 KEY AI USE CASES
- 5.16.2.1 AI smart glasses for gaming
- 5.16.2.2 AI smart glasses for professional and industrial applications
- 5.16.2.3 Best practices: Who is implementing above use cases?
- 5.16.3 INTERCONNECT ADJACENT ECOSYSTEM
6 OPERATING SYSTEMS IN SMART GLASSES
- 6.1 INTRODUCTION
- 6.2 ANDROID
- 6.3 IOS
- 6.4 WINDOWS
- 6.5 OTHER PROPRIETARY OPERATING SYSTEMS
7 CONNECTIVITY IN SMART GLASSES
- 7.1 INTRODUCTION
- 7.2 WI-FI
- 7.3 BLUETOOTH
- 7.4 OTHER CONNECTIVITY TECHNOLOGIES
8 TINTING TECHNOLOGY IN SMART GLASSES
- 8.1 INTRODUCTION
- 8.2 POLYMER-DISPERSED LIQUID CRYSTALS
- 8.3 ELECTROCHROMIC
- 8.4 PHOTOCHROMIC
- 8.5 SUSPENDED PARTICLE DEVICE TECHNOLOGY
9 APPLICATIONS OF SMART GLASSES
- 9.1 INTRODUCTION
- 9.2 GAMING & ENTERTAINMENT
- 9.3 REMOTE INSPECTION
- 9.4 TELEMEDICINE
- 9.5 PRODUCT DESIGN & DEVELOPMENT
- 9.6 3D VISUALIZATION & PROTOTYPING
- 9.7 OTHER APPLICATIONS
10 SMART GLASSES MARKET, BY TYPE
- 10.1 INTRODUCTION
- 10.2 MONOCULAR
- 10.2.1 USE FOR ENHANCING EFFICIENCY AND SAFETY TO DRIVE MARKET
- 10.3 BINOCULAR
- 10.3.1 USE FOR IMMERSIVE AR EXPERIENCE TO BOOST DEMAND IN CONSUMER INDUSTRY AND INDUSTRIAL SECTOR
- 10.4 TYPES OF SMART GLASSES BASED ON COLOR OF DISPLAY
- 10.4.1 MONOCHROME SMART GLASSES
- 10.4.2 FULL-COLOR SMART GLASSES
11 SMART GLASSES MARKET, BY FEATURE
- 11.1 INTRODUCTION
- 11.2 BASIC
- 11.2.1 RAPID GROWTH IN CONSUMER APPLICATIONS TO DRIVE DEMAND
- 11.3 ADVANCED
- 11.3.1 ADVANCED SMART GLASSES EMPOWERING INDUSTRIES WITH AUGMENTED INTELLIGENCE TO BOOST SEGMENTAL GROWTH
12 SMART GLASSES MARKET, BY INDUSTRY
- 12.1 INTRODUCTION
- 12.2 EDUCATION & RESEARCH
- 12.2.1 RISING DEMAND IN TRAINING COURSES AND VIRTUAL FIELD TRIPS TO BOOST SEGMENTAL GROWTH
- 12.3 HEALTHCARE
- 12.3.1 USE IN SURGERY, TELEMEDICINE, AND TRAINING TO DRIVE GROWTH
- 12.4 CONSUMER
- 12.4.1 RISING DEMAND FOR GAMING, COMMUNICATION AND ENTERTAINMENT TO BOOST GROWTH
- 12.5 AUTOMOTIVE
- 12.5.1 USE IN AR-BASED REPAIR ASSISTANCE, ENHANCED VEHICLE ASSEMBLY, AND DESIGN PROTOTYPING TO BOOST DEMAND
- 12.6 MANUFACTURING
- 12.6.1 INCREASING DEMAND IN REMOTE ASSISTANCE, WORKFLOW SUPPORT, AND 3D VISUALIZATION TO DRIVE MARKET
- 12.7 WAREHOUSING
- 12.7.1 NEED FOR INVENTORY MANAGEMENT TO DRIVE MARKET
- 12.8 OTHER INDUSTRIES
13 SMART GLASSES MARKET, BY REGION
- 13.1 INTRODUCTION
- 13.2 NORTH AMERICA
- 13.2.1 MACROECONOMIC OUTLOOK FOR NORTH AMERICA
- 13.2.2 US
- 13.2.2.1 Presence of leading tech giants and robust technological developments to drive market
- 13.2.3 CANADA
- 13.2.3.1 Rapid adoption in enterprise sector to drive market
- 13.2.4 MEXICO
- 13.2.4.1 Growing demand from consumer and manufacturing industries to drive market
- 13.3 EUROPE
- 13.3.1 MACROECONOMIC OUTLOOK FOR EUROPE
- 13.3.2 GERMANY
- 13.3.2.1 Rising adoption in thriving automotive industry to boost market
- 13.3.3 UK
- 13.3.3.1 Demand from healthcare and education & research to trigger growth
- 13.3.4 FRANCE
- 13.3.4.1 Increasing demand from tourism and presence of smart glass manufacturers to fuel regional growth
- 13.3.5 ITALY
- 13.3.5.1 Adoption in hospitality, tourism, and automotive industries to drive regional growth
- 13.3.6 REST OF EUROPE
- 13.4 ASIA PACIFIC
- 13.4.1 MACROECONOMIC OUTLOOK FOR ASIA PACIFIC
- 13.4.2 CHINA
- 13.4.2.1 Large presence of smart glass manufacturers and massive consumer market opportunities to drive market
- 13.4.3 JAPAN
- 13.4.3.1 Innovation in manufacturing and advanced technologies to drive market
- 13.4.4 SOUTH KOREA
- 13.4.4.1 Government support and technological advancements to offer lucrative growth opportunities
- 13.4.5 INDIA
- 13.4.5.1 Rising adoption by large young population to drive market
- 13.4.6 REST OF ASIA PACIFIC
- 13.5 ROW
- 13.5.1 MACROECONOMIC OUTLOOK FOR ROW
- 13.5.2 MIDDLE EAST
- 13.5.2.1 Adoption in oil & gas industry to drive market
- 13.5.2.2 GCC countries
- 13.5.2.2.1 Rising adoption in consumer and oil & gas industries to create market opportunities
- 13.5.2.3 Rest of the Middle East
- 13.5.3 AFRICA
- 13.5.3.1 Adoption in healthcare & education to create opportunities
- 13.5.4 SOUTH AMERICA
- 13.5.4.1 Demand in manufacturing and agriculture to drive regional growth
14 COMPETITIVE LANDSCAPE
- 14.1 OVERVIEW
- 14.2 KEY PLAYER STRATEGIES/RIGHT TO WIN, 2020-2023
- 14.2.1 PRODUCT PORTFOLIO
- 14.2.2 REGIONAL FOCUS
- 14.2.3 MANUFACTURING FOOTPRINT
- 14.2.4 ORGANIC/INORGANIC GROWTH STRATEGIES
- 14.3 REVENUE ANALYSIS, 2019-2023
- 14.4 MARKET SHARE ANALYSIS, 2023
- 14.5 COMPANY VALUATION AND FINANCIAL METRICS
- 14.6 BRAND/PRODUCT COMPARISON
- 14.7 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023
- 14.7.1 STARS
- 14.7.2 EMERGING LEADERS
- 14.7.3 PERVASIVE PLAYERS
- 14.7.4 PARTICIPANTS
- 14.7.5 COMPANY FOOTPRINT: KEY PLAYERS, 2023
- 14.7.5.1 Company footprint
- 14.7.5.2 Industry footprint
- 14.7.5.3 Type footprint
- 14.7.5.4 Feature footprint
- 14.7.5.5 Regional footprint
- 14.8 COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2023
- 14.8.1 PROGRESSIVE COMPANIES
- 14.8.2 RESPONSIVE COMPANIES
- 14.8.3 DYNAMIC COMPANIES
- 14.8.4 STARTING BLOCKS
- 14.8.5 COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES
- 14.8.5.1 Detailed list of key startups/SMEs
- 14.9 COMPETITIVE SCENARIO AND TRENDS
- 14.9.1 PRODUCT LAUNCHES
- 14.9.2 DEALS
15 COMPANY PROFILES
- 15.1 KEY PLAYERS
- 15.1.1 VUZIX
- 15.1.1.1 Business overview
- 15.1.1.2 Products offered
- 15.1.1.3 Recent developments
- 15.1.1.3.1 Product launches/developments
- 15.1.1.3.2 Deals
- 15.1.1.3.3 Expansions
- 15.1.1.3.4 Other developments
- 15.1.1.4 MnM view
- 15.1.1.4.1 Right to win
- 15.1.1.4.2 Strategic choices
- 15.1.1.4.3 Weaknesses and competitive threats
- 15.1.2 META
- 15.1.2.1 Business overview
- 15.1.2.2 Products offered
- 15.1.2.3 Recent developments
- 15.1.2.3.1 Product launches
- 15.1.2.4 MnM view
- 15.1.2.4.1 Key strengths/Right to win
- 15.1.2.4.2 Strategic choices
- 15.1.2.4.3 Weaknesses and competitive threats
- 15.1.3 ESSILORLUXOTTICA
- 15.1.3.1 Business overview
- 15.1.3.2 Products offered
- 15.1.3.2.1 Product launches
- 15.1.3.3 Recent developments
- 15.1.3.4 MnM view
- 15.1.3.4.1 Key strengths/Right to win
- 15.1.3.4.2 Strategic choices
- 15.1.3.4.3 Weaknesses and competitive threats
- 15.1.4 SEIKO EPSON CORPORATION
- 15.1.4.1 Business overview
- 15.1.4.2 Products offered
- 15.1.4.3 Recent developments
- 15.1.4.3.1 Product launches/developments
- 15.1.4.3.2 Deals
- 15.1.4.4 MnM view
- 15.1.4.4.1 Key strengths/Right to win
- 15.1.4.4.2 Strategic choices
- 15.1.4.4.3 Weaknesses and competitive threats
- 15.1.5 TCL ELECTRONICS HOLDINGS LIMITED
- 15.1.5.1 Business overview
- 15.1.5.2 Products offered
- 15.1.5.3 Recent developments
- 15.1.5.3.1 Product launches
- 15.1.5.3.2 Deals
- 15.1.5.4 MnM view
- 15.1.5.4.1 Key strengths/Right to win
- 15.1.5.4.2 Strategic choices
- 15.1.5.4.3 Weaknesses and competitive threats
- 15.1.6 LENOVO
- 15.1.6.1 Business overview
- 15.1.6.2 Products offered
- 15.1.6.3 Recent developments
- 15.1.6.3.1 Product launches
- 15.1.7 LUCYD EYEWEAR
- 15.1.7.1 Business overview
- 15.1.7.2 Products offered
- 15.1.7.3 Recent developments
- 15.1.7.3.1 Product launches/developments
- 15.1.7.3.2 Deals
- 15.1.7.3.3 Other developments
- 15.1.8 AMAZON.COM, INC.
- 15.1.8.1 Business overview
- 15.1.8.2 Products offered
- 15.1.8.3 Recent developments
- 15.1.8.3.1 Product launches
- 15.1.9 HUAWEI INVESTMENT & HOLDING CO., LTD.
- 15.1.9.1 Business overview
- 15.1.9.2 Products offered
- 15.1.10 XIAOMI
- 15.1.10.1 Business overview
- 15.1.10.2 Products offered
- 15.1.10.3 Recent developments
- 15.1.10.3.1 Product launches
- 15.2 OTHER PLAYERS
- 15.2.1 SNAP INC.
- 15.2.2 RAZER INC.
- 15.2.3 DYNABOOK INC.
- 15.2.4 THIRDEYE
- 15.2.5 REALWEAR INC
- 15.2.6 DIGILENS INC.
- 15.2.7 SOLOS SMARTGLASSES
- 15.2.8 XREAL, INC.
- 15.2.9 ROKID
- 15.2.10 AMPERE LLC
- 15.2.11 MAGIC LEAP, INC.
- 15.2.12 BRILLIANT LABS
- 15.2.13 EVERYSIGHT
- 15.2.14 FAUNA AUDIO GMBH
- 15.2.15 OPTINVENT
- 15.2.16 OPPO
16 ADJACENT AND RELATED MARKETS
- 16.1 INTRODUCTION
- 16.2 HEAD-MOUNTED DISPLAY MARKET, BY TECHNOLOGY
- 16.2.1 AUGMENTED REALITY
- 16.2.1.1 Enhanced user perception with AR-enabled devices to drive segment
17 APPENDIX
- 17.1 DISCUSSION GUIDE
- 17.2 KNOWLEDGESTORE: MARKETSANDMARKETS' SUBSCRIPTION PORTAL
- 17.3 CUSTOMIZATION OPTIONS
- 17.4 RELATED REPORTS
- 17.5 AUTHOR DETAILS