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Research Layer announces the publication of its half-cooked research report—Global Smart Eyewear Market, 2022-2030
The global Smart Eyewear Market is expected to surpass USD 18.8 Billion by 2030 with a CAGR rate of 18.3% during the projected period.
Smart glasses are the next generation of tech-enabled eyewear, and they are already finding widespread use in a variety of fields. During the planning stage, smart glasses are commonly used to spot mistakes in architectural drawings. As a result, growth in the market for smart glasses can be attributed to a combination of factors, including the increasing importance of environmentally friendly building practises and the maturation of the global architectural sector. In addition, smart glasses with navigation technology are becoming increasingly popular for use while behind the wheel of a vehicle, which has increased the demand for such devices. The dentistry business is booming, and with it comes the opportunity for smart goggles built of smart glasses to be employed in a wide variety of applications.
The global Smart Eyewear Market has been segmented based on product type, by technology, by applications, and region/country.
Based on the product type, the Smart Eyewear Market has been segmented into monocular smart glasses, binocular smart glasses, audio augmented reality glasses, and mixed reality smart glasses. Audio augmented reality glasses held the largest share for the market. This dominance is owing to its advanced features such as GPS location tracker, and realtime updates and avoids the problem of an enlarged image of view by the other smart glasses.
Based on the technology, the market has been segmented into suspended particle devices, electrochromic devices, polymer suspended liquid crystal devices, and micro blinds. Electrochromic devices held the largest share for the market. This dominance is owing to long-lasting nature and higher functionality of the electrochromic glasses.
Based on the application, the market has been segmented into security, healthcare, consumer electronics, and architectural and others such as transportation, educational, etc.
The global Smart Eyewear Market has been analyzed for five regions—North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.
The smart glass industry is growing as more and more movie theatres and movie theatre chains install 4D entertainment systems. Pilots use smart glasses frequently when in the air, which helps drive the growth of the smart glasses market. Smart glasses are in high demand due to their widespread use in classrooms to filter out bright sunlight and provide a relaxing mood for students and teachers alike. In the smart glasses industry, product quality is a major factor that manufacturers are focusing on. Demand for smart glasses in niche markets like ice-skating, paragliding, swimming, and virtual reality gaming is stoked by the expanding sports and video game industries.
Consumer electronics industry leaders like LG, Samsung, Apple, Lenovo, and many more are constantly improving smart glass's resolution, brightness, and pixel quality so that it may be more easily customised. As a result, the growing popularity of screens is a major factor fueling the smart glass industry. Demand in the worldwide smart glass market is also being driven by increased housing demand and rising consumer expenditure on smart windows and other interior amenities.
Moreover, the smart glass market is being propelled by home improvement projects. During the import-export process, many countries rely on transport facilities like railroads and cargo ships. Smart glasses are commonly used in the transportation industry to prevent the infiltration of harmful air pressure, dust, and sunlight inside transport vehicles. Thus, the growing demand for smart glasses is a direct result of the increasing importance of transportation activities for importing and exporting goods across countries.
There is a consensus that the North American market will be the most successful for smart eyewear. Since many of the leading smart glass producers, including as View Inc., Corning Inc., Gentex Corporation, and others, are based in the United States, analysts predict that the country will dominate the North American smart glass market. Because of its early embrace of the technology, Canada now also commands a large share of the North American smart glass market. By way of illustration, in September of this year, the Canadian startup North debuted augmented reality (AR) smart glasses and an accompanying software called North Focal, both of which can be used to undertake technological facial scans.
The key players in the global Smart Eyewear Market are Nippon Sheet Glass Co., Ltd., PPG Industries, Inc., AGC Inc., ChromoGenics, Gauzy Ltd.,Gentex Corporation, Guardian Industries, Kinestral Technologies, Inc., RavenWindow,Corning Incorporated.