USD 5.66 Billion
Smart Glasses Market Size, Share, Growth Analysis, By Type(Monocular Smart Glasses, Binocular Smart Glasses, Immersive Smart Glasses, Audio Smart Glasses), By Tinting Technology(Polymer-Dispersed Liquid Crystals, Electrochromic (EC), Photochromic, Suspended Particles Device (SPD)), By Connectivity(Bluetooth, HDMI, USB), By Operating System(Android, Linux, Others), By Application(Education, Gaming, Healthcare, Industrial), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG25I2025 |
Region:
Global |
Published Date: March, 2024
Pages:
223
|Tables:
66
|Figures:
75
Smart Glasses Market Insights
Global Smart Glasses Market size was valued at USD 5.66 Billion in 2022 and is poised to grow from USD 6.24 Billion in 2023 to USD 13.68 Billion by 2031, at a CAGR of 10.3% during the forecast period (2024-2031).
The global smart glasses market growth is expected to be driven by various factors, including the increasing adoption of smart glass in automotive applications and the implementation of government regulations and policies promoting energy efficiency. Furthermore, the industry is anticipated to benefit from lower oil prices affecting the cost of electrochromic materials and the use of advanced construction methods that incorporate large window installations. Smart glass offers inherent insulation properties for heat and sound, energy efficiency, and attractive 3D design features, which are expected to fuel its demand in the coming years. However, there are several challenges that could hinder market expansion. Viable alternatives like chemical glazes, decals, and coatings could potentially limit the growth of the smart glass market.
The growing urbanization and population have led governments in both developed and developing nations to increase investments in the architecture and construction industry, where smart glass is widely utilized in windows, doors, skylights, and walls to create adaptable and well-lit environments. This is anticipated to drive significant demand for smart glass in the expanding building and housing sector. Additionally, the automotive industry is experiencing a substantial surge in demand, with smart glass being used in various applications such as rear and panorama mirrors, sunroofs, windshields, backlights, and sidelights of both heavy and lightweight vehicles. This growth is attributed to the increasing transportation and supply activities and the influx of foreign direct investment (FDI). Consequently, these challenges and market dynamics have the potential to significantly boost the market for smart glass.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Transportation
Fastest Growth
Transportation
Growth Rate
10.3% CAGR
Global Smart Glasses Market ($ Bn)
Country Share for North America Region (%)
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Smart Glasses Market Segmental Analysis
Global Smart Glasses Market is segmented by Type, Tinting Technology, Connectivity, Operating System, Application and region. Based on Type, the market can be segmented into Monocular Smart Glasses, Binocular Smart Glasses, Immersive Smart Glasses, Audio Smart Glasses, Others . Based on Tinting Technology, the market can be segmented into Polymer-Dispersed Liquid Crystals, Electrochromic (EC), Photochromic, Suspended Particles Device (SPD), Others. Based on Connectivity, the market can be segmented into Bluetooth, HDMI, USB. Based on Operating System, the market can be segmented into Android, Linux, Others . Based on Application, the market is segmented into Education, Gaming, Healthcare, Industrial, Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Smart Glasses Market Analysis By Technology
The electrochromic glass segment held a significant market share, mainly due to the advantageous features it offers. These include a high UV and IV ray blockage ratio, low voltage requirements for operation, and seamless integration with large glass panels. Moreover, electrochromic glass can be easily transformed into different colors, tints, or opaque states, allowing for effective regulation of light and heat transmission based on specific needs. These glasses are extensively utilized in various settings such as hospitals, educational buildings, commercial spaces, and retail outlets.
On the other hand, the Suspended Particle Device (SPD) smart glass segment is projected to exhibit the highest compound annual growth. This growth can be attributed to the outstanding stability of SPD against UV rays. SPD smart glasses offer precise and immediate control over the amount of light transmitted, enabling them to switch from transparent to dark within a short span of 1-3 seconds. Additionally, they possess exceptional optical quality, which effectively reduces glare caused by sunlight.
Smart Glasses Market Analysis By Application
The transportation application segment secured a significant market share. This segment is further divided into three categories: aircraft, automotive, and marine. The automotive segment, in particular, experienced notable growth, driven by the increased adoption of smart glass by luxury car manufacturers. The growing demand has prompted market players to enhance their product portfolio in this segment, striving to gain a competitive edge.
Furthermore, smart glass technology finds predominant use in commercial office buildings and corporate headquarters due to its cost-saving benefits and its ability to enhance workplace productivity. Self-cleaning glasses, low-emissivity glasses, and solar control glasses are expected to emerge as prominent offerings in the construction sector in the coming years. The architectural segment is witnessing significant growth due to the increasing number of infrastructure projects, as well as restoration and renovation activities in residential and commercial spaces.
Global Smart Glasses Market By Application
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Smart Glasses Market Regional Insights
North America emerged as the dominant player in the smart glass market in 2022. This can be attributed to the availability of value-added products, such as laminated glazing, and the implementation of energy conservation regulations for buildings in the region. Regional companies are actively introducing products that align with consumer requirements, further boosting their market position.
On the other hand, Asia Pacific is expected to witness the highest compound annual growth. This region presents significant growth opportunities, particularly in the transportation sector. The rising disposable income and increasing demand for luxury vehicles contribute to the expansion of the regional market. Additionally, growing awareness regarding energy conservation in the region is expected to drive the adoption of energy-efficient air-conditioners and windows.
Global Smart Glasses Market By Region
- Largest
- Fastest
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Smart Glasses Market Dynamics
Smart Glasses Market Drivers
Growing Adoption in Industrial and Enterprise Sectors:
- Smart glasses find extensive use in industrial and enterprise sectors for applications such as remote assistance, training, field service, and data visualization. The demand for smart glasses in these sectors is driven by the need for improved efficiency, productivity, and cost savings.
Increasing AR/VR Applications:
- The rising popularity of augmented reality (AR) and virtual reality (VR) technologies has a direct impact on the smart glasses market. Smart glasses serve as a key interface for AR/VR applications, offering immersive experiences, interactive content, and real-time information overlay.
Smart Glasses Market Restraints
Social Acceptance and User Experience:
- The social acceptance of wearing smart glasses in public remains a challenge. Fashion and design aspects play a crucial role in determining their acceptability among users. Smart glasses must be aesthetically appealing, comfortable to wear for extended periods, and not socially intrusive to gain wider acceptance.
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Smart Glasses Market Competitive Landscape
The global smart glasses market is characterized by a fierce competitive landscape. The market players are actively involved in research and development activities to introduce innovative features and enhance user experience. They focus on strategic partnerships and collaborations to expand their market presence and leverage complementary expertise. Moreover, there is intense competition in terms of pricing, product quality, and technological advancements. The market is witnessing significant investments in product development, marketing, and distribution channels to gain a competitive edge.
Smart Glasses Market Top Player’s Company Profile
- Google (USA)
- Microsoft Corporation (USA)
- Sony Corporation (Japan)
- Kopin Corporation (USA)
- Osterhout Design Group (USA)
- Recon Instruments (Canada)
- Magic Leap (USA)
- Optinvent (France)
- Atheer (USA)
- ODG (USA)
- North Inc. (Canada)
- RealWear (USA)
- Lumus Ltd. (Israel)
- Seiko Epson Corporation (Japan)
- Solos Technology Ltd. (USA)
- ThirdEye Gen Inc. (USA)
- Toshiba Corporation (Japan)
- GlassUp (Italy)
Smart Glasses Market Recent Developments
-
With better brightness and color reproduction, BOE Technology Group's transparent OLED display technology could revolutionize wearable smart glasses when it is released in January 2024. Modern cockpit solutions and display technologies were showcased by the business during the International Consumer Electronics Show 2024 (CES 2024), held in Las Vegas, USA.
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Additionally, BOE introduced the XR All-in-One Glasses in January 2024, which will provide binocular resolution. With the upgrading of the spatial algorithm, it will also facilitate the free transition between virtual and actual worlds on the screen. This will make a wide range of applications possible, including those for games, movies, exhibitions, education, and healthcare.
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Guardian Industries Holdings, LLC unveiled SunGuard SNX 70+ in October 2023. This triple silver-coated glass, when put on Guardian UltraClear low-iron glass, has a visible light transmission of 68% and a solar heat gain coefficient of 0.28. This glass is engineered to guarantee a consistent, neutral reflected hue, so it looks good from both a straight-on and an angled aspect.
Smart Glasses Key Market Trends
Rise in Strategic Partnerships and Acquisitions:
- The market is witnessing a growing number of strategic partnerships and acquisitions, as vendors recognize the benefits of such collaborations. These partnerships and acquisitions allow companies to enhance their services, expand their geographic reach, strengthen their market presence, and foster the development of innovative products.
An example of a strategic partnership is the collaboration between Vuzix Corporation, a leading supplier of Smart Glasses and Augmented Reality (AR) technology, and Rods and Cones, a provider of a fully virtual surgical collaboration platform. In this partnership, Rods and Cones will integrate Vuzix's M-Series Smart Glasses as an additional video-capturing device. This integration aims to optimize remote interactions between surgeons and medical experts, facilitating improved surgical collaboration and enhancing the overall healthcare experience.
Smart Glasses Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global smart glasses market analysis, the technological advancements, increasing adoption in various industries, and growing demand for augmented reality (AR) and virtual reality (VR) applications are the key growth drivers. North America emerged as the dominant region in the global market, primarily due to the presence of key players, significant investments in R&D, and a strong focus on technological innovations. The region benefits from a well-established infrastructure and high consumer acceptance of wearable technologies. On the other hand, the Asia Pacific region is experiencing the fastest growth in the smart glasses market. This can be attributed to factors such as increasing investments in AR/VR technologies, rising disposable income, and the growing adoption of smart glasses in sectors such as healthcare, manufacturing, and gaming. Moreover, countries like China, Japan, and South Korea are driving the market growth in this region, supported by a strong manufacturing base and advancements in technology.
Overall, the global smart glasses market is expected to witness significant growth in the coming years, with North America maintaining its dominance and the Asia Pacific region emerging as the fastest-growing market. The market will continue to be driven by technological advancements, expanding applications in various industries, and the continuous efforts of market players to enhance user experience and functionality.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 5.66 Billion |
| Market size value in 2031 | USD 13.68 Billion |
| Growth Rate | 10.3% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Smart Glasses Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Smart Glasses Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Smart Glasses Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Smart Glasses Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Smart Glasses Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Smart Glasses Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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