Rising disposable income supports the growth of the Global Smart Glasses Market.
According to TechSci Research report, “Smart Glasses Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027” Global smart glasses market is anticipated to register an impressive growth with a CAGR during the forecast period, 2023-2027, due to surge in the demand for fashionable accessories. Growing evolution in the fashion accessories like incorporating technology in to fashion further drives the growth of the global smart glasses market in the upcoming five years. Added facilities of Bluetooth that enables the smart glasses to connect and disconnect a call, music plays, etc. also adds to the value to the growth of the global smart glasses market in the next five years. The smart glasses have added features of built-in earbuds, microphones for the phone calls, AR features, fine quality cameras, compatibility with the prescription lenses and enhance eyesight concerns too, thereby supporting the growth of the global smart glasses market in the future five years. With growing demands for the smart devices, multitasking, and button free commands in the devices further aids the growth of the global smart glasses market in the forecast years.
Earlier prototype by the google glasses may have experienced a colder response from the public due to major reasons of high prices and abrupt designing. But currently with brands like Titan, in the picture the smart glasses are gaining audience. Evolution of incorporating prescription glasses and the discomfort the consumers experienced during the pandemic have inclined them toward purchasing smart glasses although the affordability of these smart glasses are still in question. Rising disposable income among the population and tendency of the younger generation to spend over technologically advanced products may facilitate the growth of the global smart glasses market in the forecast period. Rising investments in the advancement of the smart glasses also adds to the growth of the global smart glasses market.
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The global smart glasses market segmentation is based on product type, end user, frame shape, distribution channel, regional distribution, and competitive landscape. Based on product type, the market is differentiated between sunglasses and eyeglasses. Sunglasses are anticipated to hold the largest revenue shares of the market and dominate the market segment in the upcoming five years on the grounds of growing demands for the sunglasses. Increasing inclination of the consumers toward fashion accessories and evolving style statements of the consumers further aids the growth of the global smart glasses market in the future five years. Eyeglasses are also expected to register significant growth in the next five years due to increasing instances of eyesight and vision problems. Growing concerns for the weaker eyesight among the younger population also facilitates the growth of the global smart glasses market in the forecast years.
By end user, the market is further segmented into men, women, and kids. Based on frame shape, the market is fragmented into circle, oval, rectangle, and others like wayfarer, aviators, etc. By distribution channel, the market is bifurcated into hypermarket & supermarket, specialty stores, online, and others. The market analysis also studies the regional segmentation, divided among Asia-Pacific region, North American region, European & CIS region, South American region, and Middle East & African region.
Some of the market players, dominating the global smart glasses market are:
- Luxottica Group (Ray-Ban)
- Bose Corporation
- Fastrack LTD
- Huawei Technologies Co. Ltd.
- Oakley, Inc.
- Razer Inc.
- MusicLens, Inc.
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“North America region is anticipated to hold the largest revenue shares of the market and dominate the regional segment of the market in the upcoming five years. Growing demand for the safe, efficient, and convenient smart glasses experience that facilitates the market growth in the region. Also, availability of the multiple market players highly invested in the development of the technological advancement and actively investing in the segment also add to the growth of the global smart glasses market in the future five years. Rising disposable income among the population in the countries like the United States, Canada, etc., incorporated with the demands for the ownership of the smart devices such as smart glasses also substantiate the growth of the global smart glasses market in the future five years. New market players may focus on research and product development. Technological advancement in the smart glasses to enhance their performance would allow them to establish their brands in the market and support the market growth in future too,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Smart Glasses Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027 Segmented By Product Type (Sunglasses & Eyeglasses), By End User (Men, Women and Kids), By Frame Shape (Circle, Oval, Rectangle, Others {Wayfarer, Aviators, etc.}), By Distribution Channel (Hypermarket & Supermarket, Specialty Stores, Online, Others), By Region”, has evaluated the future growth potential of global smart glasses and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global smart glasses market.
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