Smart Eyewear Market Bwc20048
Smart Eyewear Market- Global Industry Size, Share, Trend Analysis, Outlook, Growth, Opportunity and Forecast, 2017-2027, Segmented By Technology (Mixed Reality Holographic Displays, Head-Mounted Displays, Assisted Reality Glasses, Smart Helmets, Others), By Operating System (Android, Linux, Others), By Sales Channel (Optical Stores, Speciality Stores, E-Commerce), By End-User (Consumer Electronics, Healthcare, Enterprise, Industrial), By Region (North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle-East & Africa (MEA)
- Published Date: November 2021
- Report ID: BWC20048
- Available Format: PDF
- Page: 192
Report Overview
Smart eyewear is growing at a high rate because of its wide application in various areas such as medical, personal, wellness, etc. Moreover, technological advancements in eyewear products are contributing to market growth.
Smart Eyewear Market- Industry Trends & Forecast Report 2027
The smart eyewear market was worth USD 9.8 billion in 2020 and is further projected to reach USD 31.9 billion by the year 2027, growing at a CAGR of 18.4% in the forecast period. Due to its diverse applications in wellness, medical, and personal areas across the globe as well as growing industrial advancement in eyewear products, the demand for smart eyewear is on the rise. Moreover, the increasing demand for technologically advanced smart eyewear products amid consumers is also favoring the growth of the smart eyewear market.
Source: BlueWeave Consulting
Smart Eyewear Market- Overview
Smart eyewear or smart glasses continuously show data onto a field of view that is achieved through an OHMD (optical head-mounted display). Smart eyewear or smart glasses are usually linked to smartphones, which allows them to display data.Smart eyewear or smart glasses are usually linked to smartphones, which allows them to display data. Smart eyewear is very common among general consumers and is prominently used for many purposes such as personal, medical, wellness, etc.
Smart Eyewear Market Forecast and Trends
Growth Drivers
Rapid Innovations And Rise In Advanced Technologies
Smart eyewear is a relatively new technology and therefore, the manufacturers are extensively investing in research and development activities and introducing new technologies to develop advanced smart eyewear. Moreover, smart eyewear brands are launching new features and technologies, such as speech and gesture recognition, eye-tracking, etc., to attract tech-savvy customers. For instance, ThunderBird, an augmented reality (AR) -focused start-up, recently announced its AR product, the Smart Glasses Pioneer Version, which is a partially transparent display capable of overlaying a mixed-reality display over the wearer’s real-world surroundings. Such advancements and launches play a crucial role in driving market growth.
High Number Of Smart Eyewear Brands
The increasing number of market players and consistent product launches in the market are the major factors driving the growth of the smart eyewear market. The leading companies are launching unique smart eyewear almost every other day. In addition, the high number of industry participants in the markets prevent monopolies and keeps the prices competitive which benefits the consumers. Companies also collaborate with healthcare providers, sports clubs, and industries as their official partners to fortify their brand awareness. These kinds of tactics adopted by smart eyewear companies favor the overall market growth.
Restraints
Negative Influence Of Smart Eyewear On Eyesight
The constant wearing of smart eyewear puts a lot of strain on the eyes and can negatively affect eyesight in the long run. Several studies have revealed that wearing head-mounted displays can cause severe headaches, create pressure on the eyes, result in problems with focusing and difficulty in reading text. The human eyes are already strained due to the constant use of smartphones, tablets, and laptops. Thus, its harmful influence on eyesight could be a key stumbling block to the smart eyewear market's growth.
Impact of COVID-19 on Smart Eyewear Market
The smart eyewear market was negatively impacted by the unprecedented outbreak of the COVID-19 pandemic. As smart eyewear did not meet the requirements of an essential good, manufacturers were forced to stop production and sales during the pandemic. Furthermore, economic disruptions and declining disposable income of people also contributed to the decline. However, the expanding use of smart eye wear in the medical industry after the COVID-19 pandemic has proved favorable for its market growth. Smart eyewear, prominently used in hands-free photo, video documentation and telemedicine, has proven effective under the prevailing conditions.
Smart Eyewear Market - By Technology
Based on technologies, the smart eyewear market is segmented into mixed reality holographic displays, head-mounted displays, assisted reality glasses, smart helmets, and others. The head-mounted displays segment accounts for the largest market share because of the increasing amalgamation of artificial intelligence (AI) and virtual reality (VR) and rapid technological advancements. Furthermore, the head-mounted displays are cost-effective compared to its other technology counterparts, which play a crucial role in propelling its market growth.
Smart Eyewear Market - By Operating System
Based on operating systems, the smart eyewear market is segmented into Android, Linux, and others. The Android segment accounts for the largest market share as the large portion of consumers buying smart eyewear belong to the personal goods category. The easy-to-use interface of Android is what attracts the consumers. However, Linux also covers a substantial share in the market as more smart eyewear brands opt for Linux kernel to modify and design the OS of their products to make them stand out.
Smart Eyewear Market - By Sales Channel
Based on the sales channels, the smart eyewear market is segmented into optical stores, specialty stores, and e-commerce. As the consumers prefer to buy smart eyewear from trusted distributors and official brands' websites, the e-commerce segment accounts for the largest share in the smart eyewear market. Also, popular online platforms, such as Amazon, regularly offer great discounts, which attract a huge chunk of consumers. On the other hand, the specialty stores segment is anticipated to grow during the forecast period as many smart eyewear brands plan on establishing offline stores.
Smart Eyewear Market - Regional Insights
Geographically, the smart eyewear market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle-East & Africa. North America dominates the market among these regions owing to the growing demand forb smart eyewear among sports players and fitness supporters in countries like the US and Canada. Furthermore, a large concentration of smart eyewear manufacturers, together with increasing healthcare spending and adoption of new medical technology, is a key driver of market growth. Following North America, Europe is also catching up and covers a substantial share in the market.
Source: BlueWeave Consulting
Competitive Landscape
The leading players in the smart eyewear market are Google, Microsoft Corporation, Recon Instruments, Vuzix, Meta, Lumus Ltd., CastAR, Sony Corporation, JIN Co., Ltd., Xiaomi, Apple Inc., Atheer Labs, Solar Wearables, Apprentice.io, GoInStore, IMEC, Nueyes Technologies, Flipper Inc., Eyenetra, Fieldbit, etc.
The market is dominated by the technology giants, such as Google, Microsoft, Meta, etc. These companies significantly invest in research and development activities and compete based on technological advancements in their products. They also launch new updates and features into their products to gain a competitive edge. Furthermore, the adoption of competitive strategies, such as partnerships, mergers, acquisitions, joint ventures, etc., is also prominent in this market.
Recent Developments
- In November 2021, Engo Eyewear, a leading smart glasses manufacturer, announced the launch of its new line of sports smart glasses, specially created for long-distance athletes to view performance data in real-time.
- In September 2021, Facebook (now Meta) and Ray-Ban unveiled their new smart glasses, with attractive features, including voice-activated photo and video capture, as well as a wireless link to the Facebook network.
Scope of the Report:
Attributes |
Details |
Years Considered |
Historical data – 2017-2020 Base Year – 2020 Forecast – 2021 – 2027 |
Facts Covered |
Revenue in USD Billion |
Market Coverage |
U.S, Canada, Germany, UK, France, Italy, Spain, Brazil, Mexico, Japan, South Korea, China, India, UAE, South Africa, Saudi Arabia |
Product Service/Segmentation |
By Technology, By Operating System, By Sales Channel, By End-User, By Region |
Key Players |
Google, Microsoft Corporation, Recon Instruments, Vuzix, Meta, Lumus Ltd., CastAR, Sony Corporation, JIN Co., Ltd., Xiaomi, Apple Inc., Atheer Labs, Solar Wearables, Apprentice.io, GoInStore, IMEC, Nueyes Technologies, Flipper Inc., Eyenetra, Fieldbit, etc. |
By Technology
- Mixed Reality Holographic Displays
- Head-Mounted Displays
- Assisted Reality Glasses
- Smart Helmets
- Others
By Operating System
- Android
- Linux
- Others
By Sales Channel
- Optical Stores
- Speciality Stores
- E-Commerce
By End-User
- Consumer Electronics
- Healthcare
- Enterprise
- Industrial
By Region
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
- Research Framework
- Research Objective
- Product Overview
- Key Market Segments
- Research Methodology
- Qualitative Research
- Methodology
- Regional Split of Primary & Secondary Research
- Secondary Research
- Primary Research
- Breakdown of Primary Research Respondents, By Region
- Breakdown of Primary Research Respondents, By Industry Participants
- Market Size Estimation
- Assumptions for the Study
- Market Breakdown & Data Triangulation
- Executive Summary
- Industry Insight and Growth Strategy
- Value Chain Analysis
- DROC Analysis
- Market Drivers
- Rapid Innovations And Rise In Advanced Technologies
- High Number Of Smart Eyewear Brands
- Market Restraints
- Negative Influence Of Smart Eyewear On Eyesight
- Market Challenges
- High Cost of Smart Eyewear
- Market Opportunity
- Increasing Medical Application Of Smart Eyewear
- Expanding Penetration Of Online Sales Channels
- Market Drivers
- Recent Developments
- Porter’s Five Forces Analysis
- Bargaining Power of Buyers
- Bargaining Power of Suppliers
- Intensity of Rivalry
- Threat of New Entrants
- Threat of Substitutes
- Smart Eyewear Market Overview
- Market Size & Forecast by Value, 2017-2027
- Market Size and Forecast, By Segment
- By Technology
- Mixed Reality Holographic Displays
- Head-Mounted Displays
- Assisted Reality Glasses
- Smart Helmets
- Others
- By Operating System
- Android
- Linux
- Others
- By Sales Channel
- Optical Stores
- Speciality Stores
- E-Commerce
- By End-User
- Consumer Electronics
- Healthcare
- Enterprise
- Industrial
- By Region
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
- By Technology
- North America Smart Eyewear Market Overview
- Market Size and Forecast
- By Value (USD Billion), 2020-2027
- Market Share and Forecast
- By Technology
- By Operating System
- By Sales Channel
- By End-User
- By Country
- U.S.
- Canada
- Market Size and Forecast
- Europe Smart Eyewear Market Overview
- Market Size and Forecast
- By Value (USD Billion), 2020-2027
- Market Share and Forecast
- By Technology
- By Operating System
- By Sales Channel
- By End-User
- By Country
- Germany
- U.K.
- Russia
- France
- Italy
- Spain
- Rest of Europe
- Market Size and Forecast
- APAC Smart Eyewear Market Overview
- Market Size and Forecast
- By Value (USD Billion), 2020-2027
- Market Share and Forecast
- By Technology
- By Operating System
- By Sales Channel
- By End-User
- By Country
- China
- India
- Japan
- South Korea
- Rest of APAC
- Market Size and Forecast
- LATAM Smart Eyewear Market Overview
- Market Size and Forecast
- By Value (USD Billion), 2020-2027
- Market Share and Forecast
- By Technology
- By Operating System
- By Sales Channel
- By End-User
- By Country
- Mexico
- Brazil
- Rest of LATAM
- Market Size and Forecast
- MEA Smart Eyewear Market Overview
- Market Size and Forecast
- By Value (USD Billion), 2020-2027
- Market Share and Forecast
- By Technology
- By Operating System
- By Sales Channel
- By End-User
- By Country
- Saudi Arabia
- UAE
- South Africa
- Rest of MEA
- Market Size and Forecast
- Competitive Landscape
- List of Key Players and Their Offerings
- Market Share Analysis (2020)
- Competitive Benchmarking by Operating Parameters
- Impact of COVID-19 on Smart Eyewear Market
- Company Profiles (Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) *
- Microsoft Corporation
- Vuzix
- Meta
- Lumus Ltd.
- CastAR
- Sony Corporation
- JIN Co., Ltd.
- Xiaomi
- Apple Inc.
- Atheer Labs
- Solar Wearables
- Apprentice.io
- GoInStore
- IMEC
- Nueyes Technologiesc.
- Flipper Inc.
- Eyenetra
- Fieldbit
- Other Prominent Players
- Key Strategic Recommendations
List of Figures
Figure 1: Smart Eyewear Market Segmentation
Figure 2: Smart Eyewear Market Value Chain Analysis,
Figure 3: Company Market Share Analysis, 2020
Figure 4: Smart Eyewear Market Size, By Value (USD Billion), 2017-2027
Figure 5: Smart Eyewear Market Share (%), By Technology, By Value, 2017-2027
Figure 6: Smart Eyewear Market Share (%), By Operating System, By Value, 2017-2027
Figure 7: Smart Eyewear Market Share (%), By Sales Channel, By Value, 2017-2027
Figure 8: Smart Eyewear Market Share (%), By End-User, By Value, 2017-2027
Figure 9: Smart Eyewear Market Share (%), By Region, By Value, 2017-2027
Figure 10: North America Smart Eyewear Market Size, By Value (USD Billion), 2017-2027
Figure 11: North America Smart Eyewear Market Share (%), By Technology, By Value, 2017-2027
Figure 12: North America Smart Eyewear Market Share (%), By Operating System, By Value, 2017-2027
Figure 13: North America Smart Eyewear Market Share (%), By Sales Channel, By Value, 2017-2027
Figure 14: North America Smart Eyewear Market Share (%), By End-User, By Value, 2017-2027
Figure 15: North America Smart Eyewear Market Share (%), By Country, By Value, 2017-2027
Figure 16: Europe Smart Eyewear Market Size, By Value (USD Billion), 2017-2027
Figure 17: Europe Smart Eyewear Market Share (%), By Technology, By Value, 2017-2027
Figure 18: Europe Smart Eyewear Market Share (%), By Operating System, By Value, 2017-2027
Figure 19: Europe Smart Eyewear Market Share (%), By Sales Channel, By Value, 2017-2027
Figure 20: Europe Smart Eyewear Market Share (%), by End-User, By Value, 2017-2027
Figure 21: Europe Smart Eyewear Market Share (%), By Country, By Value, 2017-2027
Figure 22: Asia-Pacific Smart Eyewear Market Size, By Value (USD Billion), 2017-2027
Figure 23: Asia-Pacific Smart Eyewear Market Share (%), By Technology, By Value, 2017-2027
Figure 24: Asia-Pacific Smart Eyewear Market Share (%), By Operating System, By Value, 2017-2027
Figure 25: Asia-Pacific Smart Eyewear Market Share (%), By Sales Channel, By Value, 2017-2027
Figure 26: Asia-Pacific Smart Eyewear Market Share (%), By End-User, By Value, 2017-2027
Figure 27: Asia-Pacific Smart Eyewear Market Share (%), By Country, By Value, 2017-2027
Figure 28: Latin America Smart Eyewear Market Size, By Value (USD Billion), 2017-2027
Figure 29: Latin America Smart Eyewear Market Share (%), By Technology, By Value, 2017-2027
Figure 30: Latin America Smart Eyewear Market Share (%), By Operating System, By Value, 2017-2027
Figure 31: Latin America Smart Eyewear Market Share (%), By Sales Channel, By Value, 2017-2027
Figure 32: Latin America Smart Eyewear Market Share (%), By End-User, By Value, 2017-2027
Figure 33: Latin America Smart Eyewear Market Share (%), By Country, By Value, 2017-2027
Figure 34: Middle East & Africa Smart Eyewear Market Size, By Value (USD Billion), 2017-2027
Figure 35: Middle East & Africa Smart Eyewear Market Share (%), By Technology, By Value, 2017-2027
Figure 36: Middle East & Africa Smart Eyewear Market Share (%), By Operating System, By Value, 2017-2027
Figure 37: Middle East & Africa Smart Eyewear Market Share (%), By Sales Channel, By Value, 2017-2027
Figure 38: Middle East & Africa Smart Eyewear Market Share (%), By End-User, By Value, 2017-2027
Figure 39: Middle East & Africa Smart Eyewear Market Share (%), By Region, By Value, 2017-2027
List of Tables
Table 1: Smart Eyewear Market Size, By Technology, By Value, 2017-2027
Table 2: Smart Eyewear Market Size, By Operating System, By Value (USD Billion), 2017-2027
Table 3: Smart Eyewear Market Size, By Sales Channel, By Value (USD Billion), 2017-2027
Table 4: Smart Eyewear Market Size, By End-User, By Value (USD Billion), 2017-2027
Table 5: Smart Eyewear Market Size, By Region, By Value (USD Billion), 2017-2027
Table 6: North America Smart Eyewear Market Size, By Technology, By Value (USD Billion), 2017-2027
Table 7: North America Smart Eyewear Market Size, By Operating System, By Value (USD Billion), 2017-2027
Table 8: North America Smart Eyewear Market Size, By Sales Channel, By Value (USD Billion), 2017-2027
Table 9: North America Smart Eyewear Market Size, By End-User, By Value (USD Billion), 2017-2027,
Table 10: Europe Smart Eyewear Market Size, By Technology, By Value (USD Billion), 2017-2027
Table 11: Europe Smart Eyewear Market Size, By Operating System, By Value (USD Billion), 2017-2027
Table 12: Europe Smart Eyewear Market Size, By Sales Channel, By Value (USD Billion), 2017-2027
Table 13: Europe Smart Eyewear Market Size, By End-User, By Value (USD Billion), 2017-2027
Table 14: the Asia-Pacific Smart Eyewear Market Size, By Technology, By Value (USD Billion), 2017-2027
Table 15: the Asia-Pacific Smart Eyewear Market Size, By Operating System, By Value (USD Billion), 2017-2027
Table 16: the Asia-Pacific Smart Eyewear Market Size, By Sales Channel, By Value (USD Billion), 2017-2027
Table 17: the Asia-Pacific Smart Eyewear Market Size, By End-User, By Value (USD Billion), 2017-2027
Table 18: Latin America Smart Eyewear Market Size, By Technology, By Value (USD Billion), 2017-2027
Table 19: Latin America Smart Eyewear Market Size, By Operating System, By Value (USD Billion), 2017-2027
Table 20: Latin America Smart Eyewear Market Size, By Sales Channel, By Value (USD Billion), 2017-2027
Table 21: Latin America Smart Eyewear Market Size, By End-User, By Value (USD Billion), 2017-2027
Table 22: The Middle-East & Africa Smart Eyewear Market Size, By Technology, By Value (USD Billion), 2017-2027
Table 23: The Middle-East & Africa Smart Eyewear Market Size, By Operating System, By Value (USD Billion), 2017-2027
Table 24: The Middle-East & Africa Smart Eyewear Market Size, By Sales Channel, By Value (USD Billion), 2017-2027
Table 25: The Middle-East & Africa Smart Eyewear Market Size, By End-User, By Value (USD Billion), 2017-2027
Table 26: Google Financial Analysis
Table 27: Google Business Overview
Table 28: Microsoft Corporation Financial Analysis
Table 29: Microsoft Corporation Business Overview
Table 30: Vuzix Corporation Financial Analysis
Table 31: Vuzix Corporation Business Overview
Table 32: Meta Financial Analysis
Table 33: Meta Business Overview
Table 34: Lumus Ltd. Financial Analysis
Table 35: Lumus Ltd. Business Overview
Table 36: CastAR Financial Analysis
Table 37: CastAR Business Overview
Table 38: Sony Corporation Financial Analysis
Table 39: Sony Corporation Business Overview
Table 40: JIN Co., Ltd. Financial Analysis
Table 41: JIN Co., Ltd. Business Overview
Table 42: Xiaomi Financial Analysis
Table 43: Xiaomi Business Overview
Table 44: Apple Inc. Financial Analysis
Table 45: Apple Inc. Business Overview
Table 46: Atheer Labs Financial Analysis
Table 47: Atheer Labs Financial Analysis
Table 48: Solar Wearables Financial Analysis
Table 49: Solar Wearables Business Overview
Table 50: Apprentice.io Financial Analysis
Table 51: Apprentice.io Business Overview
Table 52: GoInStore Financial Analysis
Table 53: GoInStore Business Overview
Table 54: IMEC Financial Analysis
Table 55: IMEC Business Overview
Table 56: Nueyes Technologiesc. Financial Analysis
Table 57: Nueyes Technologiesc. Business Overview
Table 58: Flipper Inc. Financial Analysis
Table 59: Flipper Inc. Business Overview
Table 60: Eyenetra Financial Analysis
Table 61: Eyenetra Business Overview
Table 62: Fieldbit Financial Analysis
Table 63: Fieldbit Business Overview
Market Segmentation
By Technology
- Mixed Reality Holographic Displays
- Head-Mounted Displays
- Assisted Reality Glasses
- Smart Helmets
- Others
By Operating System
- Android
- Linux
- Others
By Sales Channel
- Optical Stores
- Speciality Stores
- E-Commerce
By End-User
- Consumer Electronics
- Healthcare
- Enterprise
- Industrial
By Region
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
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