AR Glasses Market - Global Industry Analysis (2017 - 2020) - Growth Trends and Market Forecast (2021 - 2025)

The global augmented reality (AR) glasses market is poised to make a revolutionary change in the way things are perceived. The publisher tracks its trajectory by tracing the innovation steps taken by key players operating in the global market. The COVID-19 pandemic highlighted the need for sophisticated technology that could bridge the gap between medical professionals and patients in teleconsultations. This created a remarkable opportunity for the global market. The report indicates that the global AR glasses market will find opportunities across sectors such as logistics, healthcare, manufacturing, and government.

According to the publisher, the global AR glasses market will be valued at US$883.4 Mn by 2025 from US$143.8 Mn in 2017. During the forecast period of 2021 and 2025, the global market for AR glasses will register a CAGR of 17.8%.

Key Insights into Global AR Glasses Market:

• The enterprise AR glasses type segment is led the global AR glasses market in 2020. However, the consumer AR glasses type segment is expected to register the highest growth over the forecast period as big companies such as Apple, Reliance, Facebook, and Snap show interest in investing.
• The healthcare industry is the fastest-growing end user of AR glasses at a CAGR of 19.6% in terms of value between 2021 and 2025. Healthcare professionals are expected to deploy this technology for training practitioners and surgeons, educating medical professionals and students, and supporting telehealth services.
• The U.S. was the highest revenue generating country for AR glasses in 2020 as enterprises adopted them to improve operational efficiency, safety, and quality.
• Asia Pacific AR glasses market is also expected to register the highest growth over the forecast period due to the increasing investment of Chinese companies in augmented reality technology
• Companies operating in the AR glasses market are focusing on integrating emerging technologies such as 5G, artificial intelligence (AI), edge computing, cybersecurity, conversational platforms, and machine vision.

Manufacturing and Healthcare Industries Emerge as Key End Users of AR Glasses

The report anticipates that the manufacturing industry will be instrumental to the global AR glasses. Similarly, its adoption in the healthcare industry is expected to boost sales in the coming years. Over the course of years, AR glasses will be essential in training doctors, surgeons, and ensuring smooth teleconsultations.

For instance, surgeons are using Google Glass for training sessions and during procedures. It has full potential to access relevant surgical information within the line of sight, while Vuzix’s M400 AR glasses are defining telehealth services.

North America to Lead, Asia Pacific to be the Fastest-growing Market

As of 2020, North America held a share of 38.5% in the global AR glasses market. The region’s dominance is attributable to enterprises adopting this technology and gadget to enhance operational efficiency. Furthermore, the presence of Google, ThirdEye, Apple, Vuzix, Snap Inc. have given the regional market an edge over others. The popularity of wearable devices is also anticipated to give the AR glasses market in North America an impetus.

Meanwhile, Asia Pacific is also estimated to show consistent growth in the market as China’s remains a manufacturing giant for technology products. India too will make a significant contribution as the country is witnessing a rising disposable income amongst the younger demographic.

Some of the key players operating in the global AR glasses market are Google, Seiko Epson, Rokid, and Vuzix.