Global AR and VR Smart Glasses Market Size, Share, Growth Analysis, By Type(Optical See Through, and Video See Through), By Display(Head-mounted, and Smart Glasses), By End-Use(Gaming Industry, Healthcare) - Industry Forecast 2024-2031

Global AR and VR Smart Glasses Market was valued at USD 14.6 Billion in 2022, and is poised to grow from USD 16.53 Billion in 2023 to reach USD 44.53 Billion by 2031, by rising at a CAGR of 13.19% during the forecast period (2024-2031)

AR/VR smart glasses have the potential to enhance existing technology solutions and even change the design of workplaces. Companies using augmented reality wearable electronics demonstrate applications that improve workplace efficiency, productivity and consumption so increased consumption, which is expected to be practical as the technology matures.

Advances in artificial intelligence (AI) and machine vision combining big data with analytics are expected to create opportunities for the AR/VR smart glasses industry soon. Face & object tracking improvements, voice recognition for input, and others will improve usability and enhance AR and VR. For example, Facebook is all set to launch its first AR smart glasses by Ray-Ban in partnership with eyewear company Luxottica. Project Area, a research project formed through Facebook’s Reality Labs, is doing the product’s R&D. Additionally, Amazon’s smart specs will also be available to the public in the coming years. The product is made of carbon fiber and titanium and uses an IPX4 water and splash-resistant rating. The frames use a mic and four speakers that navigate and allow users to interact with the Alexa smart assistant.