GITNUX MARKETDATA REPORT 2024

Smart Glasses Industry Statistics

The smart glasses industry is expected to see significant growth in the coming years driven by advancements in technology, increasing demand for augmented reality applications, and integration with other smart devices.

Highlights: Smart Glasses Industry Statistics

  • The global smart glasses market size was valued at USD 4.5 billion in 2020.
  • The market is expected to expand at a compound annual growth rate (CAGR) of 37.6% from 2021 to 2028.
  • Asia Pacific is projected to witness the fastest growth over the forecast period 2021-2028.
  • Augmented reality smart glasses segment held the largest market share of over 43% in 2020.
  • Smart glasses for healthcare is expected to expand at the fastest CAGR of 47.6% from 2021 to 2028.
  • The monocular smart glasses segment held the largest market share on account of benefits like lightweight and compactness.
  • The global smart glasses shipment is forecasted to round up to about 1.4 million by 2026.
  • There were approximately 150,000 AR smart glasses shipped worldwide in 2019.
  • Google holds a 30% share of the smart glass industry.
  • The largest market demand for smart glasses comes from the industrial and warehousing sector, grabbing a 41.6% market share in 2020.
  • The global smart glasses market is forecasted to reach USD 20 billion by 2025.
  • The AR HUD smart glasses segment is expected to reach USD 1 Billion by 2025.
  • The adoption rate of smart glasses in the manufacturing sector is expected to grow at a CAGR of 35% over the forecast period.
  • The consumer segment of smart glasses market is expected to grow at a CAGR of 39%, reaching approximately USD 7 Billion by 2025.
  • The market for smart glasses in energy is expected to grow at a CAGR of 30% from 2021 to 2028.
  • Major industry players like Sony and Epson held a market share of 8.6% and 7.1% respectively in 2020.
  • The smart glasses industry has seen a patent growth rate of 17% annually.

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The Latest Smart Glasses Industry Statistics Explained

The global smart glasses market size was valued at USD 4.5 billion in 2020.

The statistic “The global smart glasses market size was valued at USD 4.5 billion in 2020” refers to the total revenue generated by the sales of smart glasses worldwide in the year 2020. This figure indicates the financial significance and scale of the smart glasses market, reflecting the demand and adoption of smart glasses technology by consumers and businesses. The market size of USD 4.5 billion suggests a substantial level of investment and interest in smart glasses, signaling potential growth opportunities and competition within the industry. This data point is crucial for companies, investors, and industry analysts in understanding the market landscape and making informed decisions related to smart glasses technology.

The market is expected to expand at a compound annual growth rate (CAGR) of 37.6% from 2021 to 2028.

This statistic indicates that based on current trends and projections, the market is anticipated to see significant growth over the period from 2021 to 2028, with a compound annual growth rate (CAGR) of 37.6%. This means that, on average, the market size is expected to increase by 37.6% each year during this period. A high CAGR like 37.6% suggests a rapid expansion in market demand, indicating a potentially lucrative opportunity for businesses operating within this market. The CAGR provides a smooth representation of the market’s growth rate over the entire period, taking into account both the potential peaks and troughs in growth to offer a more accurate picture of the market’s long-term performance.

Asia Pacific is projected to witness the fastest growth over the forecast period 2021-2028.

The statement “Asia Pacific is projected to witness the fastest growth over the forecast period 2021-2028” suggests that the Asia Pacific region is expected to experience the highest rate of expansion or development compared to other regions during the specified time frame. This projection may be based on various factors such as economic trends, population growth, investment opportunities, technological advancements, and favorable government policies in the region. The prediction implies that businesses, industries, and markets in the Asia Pacific region are likely to flourish and outperform other regions in terms of growth and profitability over the next several years, making it an attractive area for investment and business expansion.

Augmented reality smart glasses segment held the largest market share of over 43% in 2020.

The statistic indicates that in 2020, the market for augmented reality smart glasses was dominated by this segment, holding more than 43% of the total market share. This suggests that the demand and adoption of augmented reality smart glasses were highest among all other segments within the market. The significant market share held by the augmented reality smart glasses segment could be attributed to factors such as technological advancements, increasing use of augmented reality in various industries, and the growing popularity of smart wearable devices. This statistic highlights the strong presence of augmented reality smart glasses in the market and signals their importance and relevance in the current technological landscape.

Smart glasses for healthcare is expected to expand at the fastest CAGR of 47.6% from 2021 to 2028.

This statistic indicates that the market for smart glasses in the healthcare industry is projected to grow rapidly over the period from 2021 to 2028, with a compound annual growth rate (CAGR) of 47.6%. This suggests a significant increase in adoption and utilization of smart glasses within the healthcare sector, likely driven by advancements in technology, increasing investment in healthcare technology solutions, and a growing recognition of the benefits that smart glasses can provide in various healthcare applications. The high CAGR signifies a strong and sustained demand for smart glasses in healthcare, highlighting their potential to improve patient care, enhance healthcare professionals’ efficiency, and transform the way healthcare services are delivered.

The monocular smart glasses segment held the largest market share on account of benefits like lightweight and compactness.

The statistic “The monocular smart glasses segment held the largest market share on account of benefits like lightweight and compactness” indicates that among different types of smart glasses available in the market, monocular smart glasses have emerged as the most popular choice. This is primarily attributed to the advantages they offer, such as being lightweight and compact. Consumers value these features as they enhance comfort and convenience, making the smart glasses easy to wear and carry around. The market share dominance of the monocular smart glasses segment suggests that these benefits are driving purchasing decisions and shaping the preferences of consumers in the smart glasses market.

The global smart glasses shipment is forecasted to round up to about 1.4 million by 2026.

The statistic states that the global smart glasses shipment is projected to reach approximately 1.4 million units by the year 2026. This forecast suggests an expected increase in the demand for smart glasses, wearable devices that incorporate computing capabilities and augmented reality features. The rise in shipment numbers indicates a growing interest from consumers and potential adoption by businesses for various applications, such as healthcare, manufacturing, education, and entertainment. The forecasted figure serves as an indicator of the anticipated market size and potential growth trajectory for smart glasses technology in the coming years.

There were approximately 150,000 AR smart glasses shipped worldwide in 2019.

The statistic “There were approximately 150,000 AR smart glasses shipped worldwide in 2019” indicates the total number of augmented reality (AR) smart glasses that were sent to various locations around the globe during the year 2019. This number serves as a measure of the prevalence and distribution of AR technology adoption within the consumer market and potentially industrial sectors. The shipment quantity provides insight into the demand for AR smart glasses, highlighting the growing interest in wearable technology that integrates digital information and virtual elements into the user’s real-world environment. Additionally, this statistic can inform market analysis, strategic planning, and trend forecasting within the tech industry to predict future developments in AR technology and its applications.

Google holds a 30% share of the smart glass industry.

The statistic “Google holds a 30% share of the smart glass industry” means that out of all the smart glass products available on the market, Google’s products account for 30% of the total market share. This indicates that Google has a significant presence in the smart glass industry and is a major player in the market compared to its competitors. Companies often use market share as a metric to measure their success and competitiveness within an industry, with a higher market share typically signifying a stronger position in the market and potential for greater influence and profitability.

The largest market demand for smart glasses comes from the industrial and warehousing sector, grabbing a 41.6% market share in 2020.

The statistic indicates that the industrial and warehousing sector accounted for the highest market demand for smart glasses in 2020, with a substantial 41.6% market share. This suggests that there is a strong need for smart glasses within these industries, potentially driven by the desire for increased efficiency, productivity, and safety in operational processes. The high market share highlights the significance of smart glasses in improving workplace operations, such as inventory management, order picking, and quality control in industrial and warehouse settings. The statistic implies that companies in these sectors are increasingly recognizing the value and benefits of smart glasses technology, leading to a significant portion of the market demand being concentrated within these industries.

The global smart glasses market is forecasted to reach USD 20 billion by 2025.

The statistic indicates that the global smart glasses market is projected to experience significant growth over the next few years, with an estimated market value of USD 20 billion by the year 2025. This forecast suggests a substantial increase in demand and adoption of smart glasses, driven by advancements in technology, increasing consumer interest in augmented reality and wearable devices, and expanding applications across various industries such as healthcare, manufacturing, and entertainment. The projected market value highlights the potential for smart glasses to become a mainstream technology with widespread use and adoption globally by 2025.

The AR HUD smart glasses segment is expected to reach USD 1 Billion by 2025.

The statistic ‘The AR HUD smart glasses segment is expected to reach USD 1 Billion by 2025’ indicates a forecasted economic value for the augmented reality (AR) heads-up display (HUD) smart glasses market by the year 2025. This projection suggests that the market for AR HUD smart glasses is anticipated to grow significantly over the coming years, reaching a total value of USD 1 billion by 2025. This statistic reflects a positive outlook towards the adoption and utilization of AR HUD smart glasses technology, implying increasing demand and potential market expansion in the near future.

The adoption rate of smart glasses in the manufacturing sector is expected to grow at a CAGR of 35% over the forecast period.

The statistic signifies that the adoption rate of smart glasses within the manufacturing sector is projected to increase significantly at a compounded annual growth rate (CAGR) of 35% over the forecast period. This implies that the use of smart glasses, which are equipped with advanced technologies such as augmented reality, is expected to become more prevalent among manufacturing companies. The growth rate suggests a rapid uptake of this technology within the industry, indicating a strong trend towards leveraging smart glasses to enhance operational efficiency, productivity, and overall performance in manufacturing processes.

The consumer segment of smart glasses market is expected to grow at a CAGR of 39%, reaching approximately USD 7 Billion by 2025.

The provided statistic states that the consumer segment of the smart glasses market is projected to experience a Compound Annual Growth Rate (CAGR) of 39%, resulting in an estimated market value of around USD 7 Billion by the year 2025. This indicates a strong and rapid expansion in consumer demand for smart glasses, driven by factors such as technological advancements, increasing adoption of wearable technology, and changing consumer preferences towards smart and connected devices. The significant growth forecast highlights the potential market opportunity and attractiveness for companies operating in the smart glasses industry, signaling a promising future for this particular market segment.

The market for smart glasses in energy is expected to grow at a CAGR of 30% from 2021 to 2028.

This statistic highlights the projected compound annual growth rate (CAGR) for the smart glasses market within the energy sector from 2021 to 2028, indicating a substantial growth trend. A CAGR of 30% suggests that the market is anticipated to expand rapidly, representing a steady increase in demand and adoption of smart glasses within the energy industry over the specified time frame. This growth rate reflects a positive outlook for the market, indicating potential opportunities for innovation, investment, and market penetration of smart glasses technology in energy-related applications such as maintenance, remote assistance, training, and operations.

Major industry players like Sony and Epson held a market share of 8.6% and 7.1% respectively in 2020.

In 2020, major industry players such as Sony and Epson held significant market shares of 8.6% and 7.1%, respectively. This statistic indicates the strong competitive positions of these companies within their industry, showcasing their influence and presence in the market. With Sony and Epson holding substantial market shares, it highlights their ability to capture a considerable portion of the market demand for their products or services, potentially making them key players in shaping industry dynamics, competition, and future trends. The statistic also suggests that these companies may have a significant impact on market developments and consumer preferences, guiding industry innovation and strategy moving forward.

The smart glasses industry has seen a patent growth rate of 17% annually.

The statistic indicates that the smart glasses industry is experiencing a substantial yearly growth rate of 17% in terms of patents filed. This suggests a strong interest and investment in innovation within the industry, with companies actively developing new technologies and solutions related to smart glasses. The growth rate signifies a trend of increasing competition and advancement in the field, with stakeholders likely focusing on creating unique and proprietary technologies to differentiate themselves in the market. Overall, the statistic reflects a dynamic and rapidly evolving industry landscape, with significant opportunities for technological advancements and market expansion in the smart glasses sector.

References

0. – https://www.www.verifiedmarketresearch.com

1. – https://www.www.statista.com

2. – https://www.www.grandviewresearch.com

3. – https://www.www.lexology.com

4. – https://www.www.mordorintelligence.com

How we write our statistic reports:

We have not conducted any studies ourselves. Our article provides a summary of all the statistics and studies available at the time of writing. We are solely presenting a summary, not expressing our own opinion. We have collected all statistics within our internal database. In some cases, we use Artificial Intelligence for formulating the statistics. The articles are updated regularly.

See our Editorial Process.

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