Summary

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.

“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.

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Table of Contents

1 INTRODUCTION 22
1.1 STUDY OBJECTIVES 22
1.2 MARKET DEFINITION 23
1.3 STUDY SCOPE 23
1.3.1 INCLUSIONS AND EXCLUSIONS 24
1.3.2 YEARS CONSIDERED 24
1.3.3 CURRENCY CONSIDERED 25
1.3.4 UNITS CONSIDERED 25
1.4 LIMITATIONS 25
1.5 STAKEHOLDERS 25
2 RESEARCH METHODOLOGY 26
2.1 RESEARCH DATA 26
2.1.1 SECONDARY DATA 28
2.1.1.1 Major secondary sources 28
2.1.1.2 Key data from secondary sources 28
2.1.2 PRIMARY DATA 29
2.1.2.1 Primary interviews with experts 29
2.1.2.2 List of key primary interview participants 30
2.1.2.3 Breakdown of primary interviews 30
2.1.2.4 Key data from primary sources 31
2.1.3 SECONDARY AND PRIMARY RESEARCH 32
2.1.3.1 Key industry insights 33
2.2 MARKET SIZE ESTIMATION 33
2.2.1 BOTTOM-UP APPROACH 33
2.2.1.1 Approach to arrive at market size using bottom-up analysis 33
2.2.1.2 Approach to obtain company-specific information on
smart glasses value chain 34
2.2.2 TOP-DOWN APPROACH 34
2.2.2.1 Approach to arrive at market size using top-down analysis 34
2.2.3 SUPPLY-SIDE ANALYSIS 35
2.3 DATA TRIANGULATION 37
2.4 RESEARCH ASSUMPTIONS 38
2.5 RESEARCH LIMITATIONS 38
2.6 RISK ASSESSMENT 38
3 EXECUTIVE SUMMARY 39
 
4 PREMIUM INSIGHTS 43
4.1 ATTRACTIVE GROWTH OPPORTUNITIES FOR PLAYERS IN SMART GLASSES MARKET 43
4.2 SMART GLASSES MARKET, BY TYPE 44
4.3 SMART GLASSES MARKET, BY FEATURE 44
4.4 SMART GLASSES MARKET, BY INDUSTRY 45
4.5 SMART GLASSES MARKET, BY COUNTRY 45
5 MARKET OVERVIEW 46
5.1 INTRODUCTION 46
5.2 MARKET DYNAMICS 46
5.2.1 DRIVERS 47
5.2.1.1 Rapid technological advancements enhancing smart glasses 47
5.2.1.2 Increased demand for AR and MR smart glasses 48
5.2.1.3 Rising adoption in industrial sector 48
5.2.2 RESTRAINTS 49
5.2.2.1 Regulatory constraints and safety concerns 49
5.2.2.2 Dynamic consumer preferences 50
5.2.3 OPPORTUNITIES 50
5.2.3.1 Developments in 5G Technologies 50
5.2.3.2 Consumer Market Expansion 51
5.2.4 CHALLENGES 52
5.2.4.1 Technical limitations 52
5.3 VALUE CHAIN ANALYSIS 53
5.4 ECOSYSTEM ANALYSIS 55
5.5 PRICING ANALYSIS 57
5.5.1 AVERAGE SELLING PRICING TREND OF KEY PLAYERS, BY FEATURE 57
5.5.2 AVERAGE SELLING PRICING TREND, BY FEATURE (USD) 58
5.5.3 INDICATIVE PRICING TREND, BY REGION 59
5.6 INVESTMENT AND FUNDING SCENARIO 60
5.7 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS 61
5.8 TECHNOLOGY ANALYSIS 61
5.8.1 KEY TECHNOLOGIES 61
5.8.1.1 AR and VR 61
5.8.1.2 Display technologies 62
5.8.2 COMPLEMENTARY TECHNOLOGIES 62
5.8.2.1 5G 62
5.8.2.2 Artificial intelligence 63
5.8.3 ADJACENT TECHNOLOGIES 63
5.8.3.1 Input method technologies 63
5.8.3.2 Integration of smart glasses with internet of things (IoT) and
smart home devices 64
 
5.9 PORTER’S FIVE FORCES ANALYSIS 65
5.10 KEY STAKEHOLDERS AND BUYING CRITERIA 68
5.10.1 KEY STAKEHOLDERS IN BUYING PROCESS 68
5.10.2 BUYING CRITERIA 69
5.11 TRADE ANALYSIS 70
5.11.1 IMPORT SCENARIO (HS CODE) 9004 70
5.11.2 EXPORT SCENARIO (HS CODE) 9004 71
5.12 PATENT ANALYSIS 72
5.13 CASE STUDIES 75
5.13.1 SMART GLASSES IN CUSTOMER SUPPORT AND OPERATIONS 75
5.13.2 SMART GLASSES IN REMOTE SUPPORT 75
5.13.3 SMART GLASSES IN HEALTHCARE 76
5.13.4 SMART GLASSES IN LOGISTICS 76
5.14 REGULATORY LANDSCAPE 77
5.14.1 GLOBAL REGULATIONS 77
5.14.2 GOVERNMENT REGULATIONS 78
5.15 KEY CONFERENCES AND EVENTS, 2024–2025 81
5.16 IMPACT OF AI/GEN AI ON SMART GLASSES MARKET 81
5.16.1 TOP USE CASES AND MARKET POTENTIAL 82
5.16.2 KEY AI USE CASES 82
5.16.2.1 AI smart glasses for gaming 83
5.16.2.2 AI smart glasses for professional and industrial applications 83
5.16.2.3 Best practices: Who is implementing above use cases? 83
5.16.3 INTERCONNECT ADJACENT ECOSYSTEM 84
6 OPERATING SYSTEMS IN SMART GLASSES 85
6.1 INTRODUCTION 85
6.2 ANDROID 85
6.3 IOS 86
6.4 WINDOWS 86
6.5 OTHER PROPRIETARY OPERATING SYSTEMS 87
7 CONNECTIVITY IN SMART GLASSES 88
7.1 INTRODUCTION 88
7.2 WI-FI 88
7.3 BLUETOOTH 88
7.4 OTHER CONNECTIVITY TECHNOLOGIES 89
8 TINTING TECHNOLOGY IN SMART GLASSES 90
8.1 INTRODUCTION 90
8.2 POLYMER-DISPERSED LIQUID CRYSTALS 90
8.3 ELECTROCHROMIC 91
8.4 PHOTOCHROMIC 91
8.5 SUSPENDED PARTICLE DEVICE TECHNOLOGY 92
9 APPLICATIONS OF SMART GLASSES 93
9.1 INTRODUCTION 93
9.2 GAMING & ENTERTAINMENT 93
9.3 REMOTE INSPECTION 94
9.4 TELEMEDICINE 94
9.5 PRODUCT DESIGN & DEVELOPMENT 94
9.6 3D VISUALIZATION & PROTOTYPING 95
9.7 OTHER APPLICATIONS 95
10 SMART GLASSES MARKET, BY TYPE 96
10.1 INTRODUCTION 97
10.2 MONOCULAR 98
10.2.1 USE FOR ENHANCING EFFICIENCY AND SAFETY TO DRIVE MARKET 98
10.3 BINOCULAR 101
10.3.1 USE FOR IMMERSIVE AR EXPERIENCE TO BOOST DEMAND IN CONSUMER INDUSTRY AND INDUSTRIAL SECTOR 101
10.4 TYPES OF SMART GLASSES BASED ON COLOR OF DISPLAY 103
10.4.1 MONOCHROME SMART GLASSES 103
10.4.2 FULL-COLOR SMART GLASSES 104
11 SMART GLASSES MARKET, BY FEATURE 105
11.1 INTRODUCTION 106
11.2 BASIC 108
11.2.1 RAPID GROWTH IN CONSUMER APPLICATIONS TO DRIVE DEMAND 108
11.3 ADVANCED 109
11.3.1 ADVANCED SMART GLASSES EMPOWERING INDUSTRIES WITH AUGMENTED INTELLIGENCE TO BOOST SEGMENTAL GROWTH 109
12 SMART GLASSES MARKET, BY INDUSTRY 113
12.1 INTRODUCTION 114
12.2 EDUCATION & RESEARCH 116
12.2.1 RISING DEMAND IN TRAINING COURSES AND VIRTUAL FIELD TRIPS TO BOOST SEGMENTAL GROWTH 116
12.3 HEALTHCARE 118
12.3.1 USE IN SURGERY, TELEMEDICINE, AND TRAINING TO DRIVE GROWTH 118
12.4 CONSUMER 120
12.4.1 RISING DEMAND FOR GAMING, COMMUNICATION AND ENTERTAINMENT TO BOOST GROWTH 120
12.5 AUTOMOTIVE 123
12.5.1 USE IN AR-BASED REPAIR ASSISTANCE, ENHANCED VEHICLE ASSEMBLY, AND DESIGN PROTOTYPING TO BOOST DEMAND 123
12.6 MANUFACTURING 125
12.6.1 INCREASING DEMAND IN REMOTE ASSISTANCE, WORKFLOW SUPPORT, AND 3D VISUALIZATION TO DRIVE MARKET 125
12.7 WAREHOUSING 127
12.7.1 NEED FOR INVENTORY MANAGEMENT TO DRIVE MARKET 127
12.8 OTHER INDUSTRIES 129
13 SMART GLASSES MARKET, BY REGION 132
13.1 INTRODUCTION 133
13.2 NORTH AMERICA 135
13.2.1 MACROECONOMIC OUTLOOK FOR NORTH AMERICA 135
13.2.2 US 139
13.2.2.1 Presence of leading tech giants and robust technological developments to drive market 139
13.2.3 CANADA 139
13.2.3.1 Rapid adoption in enterprise sector to drive market 139
13.2.4 MEXICO 140
13.2.4.1 Growing demand from consumer and manufacturing industries to drive market 140
13.3 EUROPE 141
13.3.1 MACROECONOMIC OUTLOOK FOR EUROPE 141
13.3.2 GERMANY 145
13.3.2.1 Rising adoption in thriving automotive industry to boost market 145
13.3.3 UK 146
13.3.3.1 Demand from healthcare and education & research to trigger growth 146
13.3.4 FRANCE 146
13.3.4.1 Increasing demand from tourism and presence of smart glass manufacturers to fuel regional growth 146
13.3.5 ITALY 147
13.3.5.1 Adoption in hospitality, tourism, and automotive industries to
drive regional growth 147
13.3.6 REST OF EUROPE 147
13.4 ASIA PACIFIC 147
13.4.1 MACROECONOMIC OUTLOOK FOR ASIA PACIFIC 147
13.4.2 CHINA 151
13.4.2.1 Large presence of smart glass manufacturers and massive consumer market opportunities to drive market 151
13.4.3 JAPAN 151
13.4.3.1 Innovation in manufacturing and advanced technologies to
drive market 151
13.4.4 SOUTH KOREA 152
13.4.4.1 Government support and technological advancements to offer lucrative growth opportunities 152
 
13.4.5 INDIA 152
13.4.5.1 Rising adoption by large young population to drive market 152
13.4.6 REST OF ASIA PACIFIC 153
13.5 ROW 153
13.5.1 MACROECONOMIC OUTLOOK FOR ROW 153
13.5.2 MIDDLE EAST 156
13.5.2.1 Adoption in oil & gas industry to drive market 156
13.5.2.2 GCC countries 157
13.5.2.2.1 Rising adoption in consumer and oil & gas industries to create market opportunities 157
13.5.2.3 Rest of the Middle East 157
13.5.3 AFRICA 158
13.5.3.1 Adoption in healthcare & education to create opportunities 158
13.5.4 SOUTH AMERICA 158
13.5.4.1 Demand in manufacturing and agriculture to drive regional growth 158
14 COMPETITIVE LANDSCAPE 159
14.1 OVERVIEW 159
14.2 KEY PLAYER STRATEGIES/RIGHT TO WIN, 2020–2023 159
14.2.1 PRODUCT PORTFOLIO 160
14.2.2 REGIONAL FOCUS 161
14.2.3 MANUFACTURING FOOTPRINT 161
14.2.4 ORGANIC/INORGANIC GROWTH STRATEGIES 161
14.3 REVENUE ANALYSIS, 2019–2023 162
14.4 MARKET SHARE ANALYSIS, 2023 162
14.5 COMPANY VALUATION AND FINANCIAL METRICS 166
14.6 BRAND/PRODUCT COMPARISON 167
14.7 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023 167
14.7.1 STARS 167
14.7.2 EMERGING LEADERS 168
14.7.3 PERVASIVE PLAYERS 168
14.7.4 PARTICIPANTS 168
14.7.5 COMPANY FOOTPRINT: KEY PLAYERS, 2023 170
14.7.5.1 Company footprint 170
14.7.5.2 Industry footprint 171
14.7.5.3 Type footprint 172
14.7.5.4 Feature footprint 173
14.7.5.5 Regional footprint 174
14.8 COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2023 175
14.8.1 PROGRESSIVE COMPANIES 175
14.8.2 RESPONSIVE COMPANIES 175
14.8.3 DYNAMIC COMPANIES 175
14.8.4 STARTING BLOCKS 175
14.8.5 COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES 177
14.8.5.1 Detailed list of key startups/SMEs 177
14.9 COMPETITIVE SCENARIO AND TRENDS 178
14.9.1 PRODUCT LAUNCHES 178
14.9.2 DEALS 179
15 COMPANY PROFILES 181
15.1 KEY PLAYERS 181
15.1.1 VUZIX 181
15.1.1.1 Business overview 181
15.1.1.2 Products offered 182
15.1.1.3 Recent developments 184
15.1.1.3.1 Product launches/developments 184
15.1.1.3.2 Deals 188
15.1.1.3.3 Expansions 192
15.1.1.3.4 Other developments 193
15.1.1.4 MnM view 194
15.1.1.4.1 Right to win 194
15.1.1.4.2 Strategic choices 194
15.1.1.4.3 Weaknesses and competitive threats 195
15.1.2 META 196
15.1.2.1 Business overview 196
15.1.2.2 Products offered 198
15.1.2.3 Recent developments 199
15.1.2.3.1 Product launches 199
15.1.2.4 MnM view 199
15.1.2.4.1 Key strengths/Right to win 199
15.1.2.4.2 Strategic choices 199
15.1.2.4.3 Weaknesses and competitive threats 200
15.1.3 ESSILORLUXOTTICA 201
15.1.3.1 Business overview 201
15.1.3.2 Products offered 203
15.1.3.2.1 Product launches 204
15.1.3.3 Recent developments 204
15.1.3.3.1 Deals 204
15.1.3.4 MnM view 205
15.1.3.4.1 Key strengths/Right to win 205
15.1.3.4.2 Strategic choices 205
15.1.3.4.3 Weaknesses and competitive threats 205
 
15.1.4 SEIKO EPSON CORPORATION 206
15.1.4.1 Business overview 206
15.1.4.2 Products offered 207
15.1.4.3 Recent developments 209
15.1.4.3.1 Product launches/developments 209
15.1.4.3.2 Deals 210
15.1.4.4 MnM view 211
15.1.4.4.1 Key strengths/Right to win 211
15.1.4.4.2 Strategic choices 211
15.1.4.4.3 Weaknesses and competitive threats 211
15.1.5 TCL ELECTRONICS HOLDINGS LIMITED 212
15.1.5.1 Business overview 212
15.1.5.2 Products offered 214
15.1.5.3 Recent developments 215
15.1.5.3.1 Product launches 215
15.1.5.3.2 Deals 216
15.1.5.4 MnM view 217
15.1.5.4.1 Key strengths/Right to win 217
15.1.5.4.2 Strategic choices 217
15.1.5.4.3 Weaknesses and competitive threats 217
15.1.6 LENOVO 218
15.1.6.1 Business overview 218
15.1.6.2 Products offered 219
15.1.6.3 Recent developments 220
15.1.6.3.1 Product launches 220
15.1.7 LUCYD EYEWEAR 221
15.1.7.1 Business overview 221
15.1.7.2 Products offered 222
15.1.7.3 Recent developments 223
15.1.7.3.1 Product launches/developments 223
15.1.7.3.2 Deals 224
15.1.7.3.3 Other developments 225
15.1.8 AMAZON.COM, INC. 226
15.1.8.1 Business overview 226
15.1.8.2 Products offered 228
15.1.8.3 Recent developments 228
15.1.8.3.1 Product launches 228
15.1.9 HUAWEI INVESTMENT & HOLDING CO., LTD. 229
15.1.9.1 Business overview 229
15.1.9.2 Products offered 230
 
15.1.10 XIAOMI 231
15.1.10.1 Business overview 231
15.1.10.2 Products offered 233
15.1.10.3 Recent developments 234
15.1.10.3.1 Product launches 234
15.2 OTHER PLAYERS 235
15.2.1 SNAP INC. 235
15.2.2 RAZER INC. 236
15.2.3 DYNABOOK INC. 237
15.2.4 THIRDEYE 238
15.2.5 REALWEAR INC 239
15.2.6 DIGILENS INC. 240
15.2.7 SOLOS SMARTGLASSES 241
15.2.8 XREAL, INC. 242
15.2.9 ROKID 243
15.2.10 AMPERE LLC 244
15.2.11 MAGIC LEAP, INC. 245
15.2.12 BRILLIANT LABS 246
15.2.13 EVERYSIGHT 247
15.2.14 FAUNA AUDIO GMBH 248
15.2.15 OPTINVENT 249
15.2.16 OPPO 250
16 ADJACENT AND RELATED MARKETS 251
16.1 INTRODUCTION 251
16.2 HEAD-MOUNTED DISPLAY MARKET, BY TECHNOLOGY 252
16.2.1 AUGMENTED REALITY 253
16.2.1.1 Enhanced user perception with AR-enabled devices to drive segment 253
17 APPENDIX 255
17.1 DISCUSSION GUIDE 255
17.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 258
17.3 CUSTOMIZATION OPTIONS 260
17.4 RELATED REPORTS 260
17.5 AUTHOR DETAILS 261