Blueweave
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.

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.

Regional Insights

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
  1. Research Framework
    1. Research Objective
    2. Product Overview
    3. Key Market Segments
  2. Research Methodology
    1. Qualitative Research
    2. Methodology
    3. Regional Split of Primary & Secondary Research
    4. Secondary Research
    5. Primary Research
      1. Breakdown of Primary Research Respondents, By Region
      2. Breakdown of Primary Research Respondents, By Industry Participants
    6. Market Size Estimation
    7. Assumptions for the Study
    8. Market Breakdown & Data Triangulation
  3. Executive Summary
  4. Industry Insight and Growth Strategy
    1. Value Chain Analysis
    2. DROC Analysis
      1. Market Drivers
        1. Rapid Innovations And Rise In Advanced Technologies
        2. High Number Of Smart Eyewear Brands
      2. Market Restraints
        1. Negative Influence Of Smart Eyewear On Eyesight
      3. Market Challenges
        1. High Cost of Smart Eyewear
      4. Market Opportunity
        1. Increasing Medical Application Of Smart Eyewear
        2. Expanding Penetration Of Online Sales Channels
    3. Recent Developments
    4. Porter’s Five Forces Analysis
      1. Bargaining Power of Buyers
      2. Bargaining Power of Suppliers
      3. Intensity of Rivalry
      4. Threat of New Entrants
      5. Threat of Substitutes
  5. Smart Eyewear Market Overview
    1. Market Size & Forecast by Value, 2017-2027
    2. Market Size and Forecast, By Segment
      1. By Technology
        1. Mixed Reality Holographic Displays
        2. Head-Mounted Displays
        3. Assisted Reality Glasses
        4. Smart Helmets
        5. Others
      2. By Operating System
        1. Android
        2. Linux
        3. Others
      3. By Sales Channel
        1. Optical Stores
        2. Speciality Stores
        3. E-Commerce
      4. By End-User
        1. Consumer Electronics
        2. Healthcare
        3. Enterprise
        4. Industrial
      5. By Region
        1. North America
        2. Europe
        3. Asia-Pacific
        4. Latin America
        5. Middle East & Africa
  6. North America Smart Eyewear Market Overview
    1. Market Size and Forecast
      1. By Value (USD Billion), 2020-2027
    2. Market Share and Forecast
      1. By Technology
      2. By Operating System
      3. By Sales Channel
      4. By End-User
      5. By Country
        1. U.S.
        2. Canada
  7. Europe Smart Eyewear Market Overview
    1. Market Size and Forecast
      1. By Value (USD Billion), 2020-2027
    2. Market Share and Forecast
      1. By Technology
      2. By Operating System
      3. By Sales Channel
      4. By End-User
      5. By Country
        1. Germany
        2. U.K.
        3. Russia
        4. France
        5. Italy
        6. Spain
        7. Rest of Europe
  8. APAC Smart Eyewear Market Overview
    1. Market Size and Forecast
      1. By Value (USD Billion), 2020-2027
    2. Market Share and Forecast
      1. By Technology
      2. By Operating System
      3. By Sales Channel
      4. By End-User
      5. By Country
        1. China
        2. India
        3. Japan
        4. South Korea
        5. Rest of APAC
  9. LATAM Smart Eyewear Market Overview
    1. Market Size and Forecast
      1. By Value (USD Billion), 2020-2027
    2. Market Share and Forecast
      1. By Technology
      2. By Operating System
      3. By Sales Channel
      4. By End-User
      5. By Country
        1. Mexico
        2. Brazil
        3. Rest of LATAM
  10. MEA Smart Eyewear Market Overview
    1. Market Size and Forecast
      1. By Value (USD Billion), 2020-2027
    2. Market Share and Forecast
    3. By Technology
    4. By Operating System
    5. By Sales Channel
    6. By End-User
    7. By Country
      1. Saudi Arabia
      2. UAE
      3. South Africa
      4. Rest of MEA
  11. Competitive Landscape
    1. List of Key Players and Their Offerings
    2. Market Share Analysis (2020)
    3. Competitive Benchmarking by Operating Parameters
  12. Impact of COVID-19 on Smart Eyewear Market
  13. Company Profiles (Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) *
    1. Google
    2. Microsoft Corporation
    3. Vuzix
    4. Meta
    5. Lumus Ltd.
    6. CastAR
    7. Sony Corporation
    8. JIN Co., Ltd.
    9. Xiaomi
    10. Apple Inc.
    11. Atheer Labs
    12. Solar Wearables
    13. Apprentice.io
    14. GoInStore
    15. IMEC
    16. Nueyes Technologiesc.
    17. Flipper Inc.
    18. Eyenetra
    19. Fieldbit
    20. Other Prominent Players
  14. 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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Frequently Asked Questions (FAQs):

Ans: The smart eyewear market reached USD 9.8 billion in 2020.
Ans: The major factors driving the growth of the smart eyewear market are rapid innovations and rise in advanced technologies. Moreover, the growing number of smart eyewear brands also propels the market’s growth.
Ans: The key 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.
Ans: The consumer electronics segment accounted for the largest share in the smart eyewear market.
Ans: North America has the largest share in the smart eyewear market.