Seeing the Future - The Growing Market for Smart Glasses
Apr 24,2023 | Retail
Future of smart glasses is highly dependent on the advancement in the technology and innovative product development. The factor will actively drive the growth of the global smart glasses market in the upcoming years. The available products in the market are incorporated with AI and higher connectivity. With Bluetooth enabled features that allow voice calling, integrated speakers, noise-cancelling microphones, and a surprisingly good camera quality alike features substantiate the demands for the smart glasses thus aiding the market growth.
Rapidly increasing financial stabilities have endured the consumers to spend lavishly over fashion and accessories. Expansion of fashion industry highly depends on the consumer’s spending capacity as well as the affordability of the products followed by the evolving consumer’s preferences. Although the smart glasses available in the market cannot be categorized as very affordable, the features and added advantages of them are influencing the purchasing pattern of the consumers enough and has definite potential for the market growth in the forecast period.
These advancements are available in the sunglasses as well as eye-glasses used to correct eye sights. Thus, growing industrial expansion of sunglasses and eye-glasses further drives the growth of the market. Globally in the year 2021, sunglasses market value was over 40% growth, while global eyewear market was valued over US$79 Billion in the year 2021. The technological advancement in both type of glasses would act as a major factor driving the growth of the global smart glasses market in the forecast years.
Global smart glasses market value is anticipated to grow with an impressive CAGR during the forecast years on the backbone of growing advancement in the eye-wears. Classified under the Consumer Goods - Retail categories, Bharatbook brings you the latest study that covers growing advancement and demand for the innovative fashionable accessories, along with the growing demands for the smart devices and accessories and rising investment in the research and development of these products. Smart glasses trend is evolving owing to the fashionable options and enhancing the potential growth of the global smart glasses market size.
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. 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.
Luxottica Group (Ray-Ban), Bose Corporation, Fastrack LTD, Huawei Technologies Co. Ltd., Oakley, Inc., Razer Inc., MusicLens, Inc., are enlisted in a partial list of major market players of the global smart glasses market.
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