Research and industry get more and more showing their interest in various smart eyewear such as Google Glass, over Epson Moverio and the Oculus Rift to the Sony Smart Glasses among others. Smart lenses or glasses enhances vision. These types of devices can connected through smart phones which allows to display of call details, text message, Navigation, and access the music players. These smart eyewear devices are enable to pair with mobile devices which is based on Android and IOS platform. Increasing the demand for advanced technology based smart devices and rise in the adoption of various innovative technologies enables devices is expected to create a new opportunities for the smart eyewear companies in coming years.
In addition, some of the key factors driving the growth of the smart eyewear market are the rising demand for different smart eyewear solution for automobile industry and we are also expected that future technological development is going to be closely connected to vision in coming years. This in turn, internet will pervade things everything and smart mobile phones and smart glasses will be able to communicate with things. Technological advances in computer science are the prerequisite for the emergence of smart glasses. In coming years, rising investment in augmented reality and virtual reality is also anticipated to drive the demand for the smart eyewear market. Thus, the global smart eyewear market is estimated to witness a stable growth during the projection period from 2018-2026.
The global smart eyewear market has been segmented on the basis of operating system, product type, end use industry, distribution of sales and geography. Based on operating system, the market for smart eyewear has been segmented into IOS and Android. In 2017, Android segment hold the highest major market share in the smart eyewear market. On the basis of product type, the smart eyewear market has been bifurcated into mixed reality holographic displays, assisted reality glasses, head-mounted displays and smart helmets among others. Head mounted display segment is expected to grow at a highest CAGR rate during the forecast period. This is mainly due to, the rising awareness of smart eyewear enables equipment drive the global smart eyewear market.
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On the basis of end use industry, the market for smart eyewear has been segregated into various types which includes consumer electronics, healthcare, enterprise and industrial among others. In 2017, consumer electronics hold the major market share in the global smart eyewear market. Moreover, based on distribution channel, the global smart eyewear market has been segmented into online and offline. The devices warns in dangerous situations. Moreover, one of the major advantage is that the computer-generated video or images are projected out in a space in front of the eyes of the end user. On the flip side, the smart eyewear costlier than the conventional devices, which is expected to hinder the growth of the product market in coming years.
Geographically, smart eyewear market is segmented into North America, Europe, Asia Pacific, Middle- East and Africa and South America. In 2017, North America hold the major market share in the global smart eyewear market. The growth in demand for smart eyewear in different application such as sports, fitness and automotive head mounted display. Asia Pacific is predicted to witness the most auspicious market in the coming years, owing to increasing number of automotive and consumer manufacturers are continuously focusing to expand their operation and manufacturing units across the different part of Asia Pacific.
Cumulative emphasis on research and development happenings by government initiative is also acting as a key factor in the growth for Asia Pacific market. Across the globe, most promising and developing countries in Europe to dominate the second market share within next forecast period. Asia pacific region is expected to be the fasted growing market for this product due to rapid industrialization and increasing adoption of new technologies across different end use industry vertical.
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This report explores the major global industry players in detail. Major companies operating in the global smart eyewear market are Google (The U.S.), Microsoft Corporation (The U.S.), Recon Instruments (Canada), Vuzix (The U.S.), Meta (The U.S.), Lumus Ltd.(Israel), cast AR (The U.S), Sony Corporation (Japan), and JIN Co., Ltd.(Japan) among others.