Global smart eyewear technology market is expected to reach USD 6892.44 million by 2028 with an expected CAGR of more than 12% between the years 2022 and 2028
NEW YORK, UNITED STATES, January 12, 2023 /EINPresswire.com/ — The Global Smart Eyewear Technology market forecast from 2022 to 2028 is included in the report titled “Smart Eyewear Technology Market By Technology (Augmented Reality, Virtual Reality And Other) By Product Type (Head-Mounted Displays, Assisted Reality Glasses, Mixed Reality Holographic Displays, Smart Helmets And Others) For Consumer Electronics, Healthcare, Enterprise And Industrial Applications And Other Application: Global Industry Analysis, Size, Share, Growth, Trends, And Forecast 2022 – 2028” The report provides detailed information on the market’s past and present values, projections for the future, trends, competition, market dynamics, and recent developments.
New data from Zion Market Research shows that the global Smart Eyewear Technology market is extremely competitive due to the vast number of companies operating within it (ZMR). Companies like Microsoft, Google, Meta, Samsung and Sony are at the forefront of the smart eyewear technology market. These companies, who operate across the smart eyewear technology market, are devoting considerable resources to research and development and the incorporation of cutting-edge technologies into their existing offerings. The smart eyewear technology market study forecasts that in the next years, these companies will increasingly rely on strategic alliances and acquisitions to expand their operations.
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Other types of smart eyewear are primarily concerned with the creation of augmented reality experiences. The American business Vuzix manufactures a variety of cutting-edge smart glasses, some of which include the Wrap 920AR and the STAR 1200XLD. Smart glasses featuring a combination of high definition (HD) and infrared cameras with translucent displays are being offered by the newly established businesses on the market, such as Meta. The wearer of Meta’s smart glasses has the ability to manipulate augmented reality objects directly in their field of vision by using gestures. This is made possible by the glasses’ proximity to the wearer’s eyes.
The paper examines the demand for smart eyewear technology over the forecast period and the factors that will increase or decrease that demand. Moreover, new possibilities in the smart eyewear technology market are investigated in the paper.
This review is based on a report by Zion Market Research, titled “Smart Eyewear Technology Market by Technology (Augmented Reality, Virtual Reality and Other) by Product Type (Head-Mounted Displays, Assisted Reality Glasses, Mixed Reality Holographic Displays, Smart Helmets and Others) for Consumer Electronics, Healthcare, Enterprise and Industrial Applications and Other Application: Global Industry Analysis, Size, Share, Growth, Trends, and forecast 2022 – 2028.”- Report at http://www.zionmarketresearch.com/report/ smart-eyewear-technology-market
As estimated in this report, the global smart eyewear technology market stood at US$ 3,541.6 million in 2021. Witnessing a tremendous rise during the period from 2022 to 2028, the revenue in this smart eyewear technology market is expected to reach US$ 6892.44 million by the end of the forecast period. The main products available in this smart eyewear technology market are head-mounted displays, smart helmets, assisted reality glasses, and mixed reality holographic displays. Among the four, the demand for head-mounted displays is relatively higher, and the trend is anticipated to remain so over the next few years, notes the smart eyewear technology market research report.
COVID-19 Impact: Businesses in the industrial and electronics sectors have been facing a significant strategic threat in recent months due to the COVID-19 outbreak. Manufacturing facilities have been temporarily shut down due to a lack of raw materials, there is inadequate money, and customer demand is low. All of these things have made the smart eyewear industry less likely to grow.
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Wide VR Technology Trends & Increasing Gaming Activities To Soar Growth
“Factors such as growing trend of virtual reality supported through lucrative investments in new technologies by industry behemoths are anticipated to chart a profitable roadmap for smart eyewear technology market in the near future,” says the author of this smart eyewear technology market study. Apart from this, the immense popularity of head-mounted displays across the gaming & entertainment sectors will further boost the smart eyewear technology market demand in the years ahead. Furthermore, rise in the product applications across consumer electronics, healthcare, and enterprise & industrial sectors will further catapult the business scope.
High Internet Penetration To Support North America To Maintain Dominance
Regionally, North America has been leading the worldwide smart eyewear technology market and is anticipated to continue on the dominant position in the years to come, states the smart eyewear technology market study. High internet penetration along with massive use of new technologies such as AR and VR technology in the region is the main factor behind the dominance of the North American smart eyewear technology market. The presence of renowned players such as Google, Facebook, and Microsoft in North America is another significant factor that is supporting the growth of this regional smart eyewear technology market.
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