Smart Glasses Market Size, Share & Trends Analysis Report By Type, By Glass Tinting Technology, By Operating System (Android, Linux, Other), By Application, By Connectivity, By Region, And Segment Forecasts, 2023 - 2030

Smart Glasses Market Size & Trends

The global smart glasses market size was valued at USD 1,232 million in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 27.1% from 2023 to 2030. The demand for smart glasses is increasing due to their ability to perform complex computer powered tasks. Moreover, the rising trend of wearable technology coupled with increasing technological advancements is expected to fuel the growth of smart glasses market further. During the COVID-19 pandemic, governments across the globe imposed stringent lockdown restrictions. This restrictions resulted in disruptions in supply chain and avaibility of raw materials, which let to shut down of manufacturing facilities. Due to difficulties in everyday operations and a loss of business continuity, the demand from end-use sectors decreased significantly.However, the market for smart glasses is projected to benefit from new developments in 5G technologies and a rising shift toward digitization in the forecast period.

The ability of platforms to work with conservational platforms such as Google Assistant and Alexa are allowing users hands free operability. Apple Inc. is working towards its own smart glasses which will be compatible with iOS operating system and will incorporate siri to offer hands free operability experience to its users. For instance, in December 2021, Huawei Technologies Co., Ltd. has announced the launch of smart glasses which is powered by their operating system Harmony OS. The operating system allows smart glasses to connect with two devices simultaneously. The increased technological innovations is expected to fuel the market growth over the forecast period.

The deployment of 5G has helped smart glasess manufacturers to improve AR experience. 5G technology has helped market players to reduce their focus on processing power and storage capacity and focus on miniaturization of devices and components enabling vendors to make their sensors more versatile by bundling additional sensors into their devices. For instance, in May 2022, T‑Mobile USA, Inc. announced the launch of T-Mobile Accelerator program which is focused on providing resources to selected six developers in the first phase. The developers such as Beem, Krikey, Inc., Mawari Inc., Mohx-games, VictoryXR, Inc., and Pluto are included in the program.

Type Insights

The audio smart glasses segment registered for the largest revenue share of around 29% of the market in 2022. These audio smart glasses works as a substitute for earphones or headphones as they provide audio to the speakers attached to the glasses via cable running through the sunglasses' steel hinges. Additionally, it produces crystal clear sound that goes straight into ears without any hinderances from outside, which is expected to drive the growth further.

The immersive smart glasses segment is estimated to register the fastest CAGR growth of over 29% during the forecast period. This can be attributed to the sensors used that make sense of surroundings and accurately overlay computer-generated objects naturally. For instance, Microsoft Corporation introduced HoloLens 2, which helps to connect and collaborate from anywhere with Dynamics 365 Remote Assist.

Glass Tinting Technology Insights

The electrochromic (EC) smart glass segment accounted for highest CAGR of over 29% during forecast period. This can be attributed to the increasing use of the technology by the people for outdoor sports or activities, as this technology helps in adjusting the level of tint in realtime with the help of dedicated application. Moreover, the ability to control the tint level depending upon the environment makes it more demanding. This, in turn, is expected to drive the growth further.

The Polymer-dispersed Liquid Crystals (PDLC) segment accounted for the largest revenue share of over 24% in 2022 and is expected to lead the smart glasses market throughout the forecast period. This can be attributed to its capabilities of blocking harmful lights or rays while still maintaining a clear view in front. In addition, its anti-glare properties help reduce the eyestrain and can be customized to operate in a given range of temperatures with switching time of less than a second.

Operating System Insights 

The android operating system segment accounted for the largest revenue share of around 48% of the overall market in 2022 and is expected to register a significant growth in the forecast period. This can be attributed to the large portion of consumers buying smart glasses, belong to the personal use category. The easy-to-use interface of android, familiarity with the OS due to smartphones, and power management & application control abilities are driving the segment growth.

The linux operating system segment is expected to expand at a CAGR of over 28% from 2023 to 2030. Avaibility of linux kernel as free and open source making it as a preffered operarting system by numerous players in the market. Additionally, linux offers user-friendly interface and can be easiliy modified and designed as per products to make them stand out, which is expected to drive the segment growth further.

Connectivity Insights

The bluetooth segment accounted for the largest revenue share of around 50% of the overall market in 2022 and is expected to register a significant growth in the forecast period. This can be attributed to the easy to use connectivity of smart glasses with smartphones, tablets, among other smart devices. For instance, in September 2022, Ambrane India Pvt Ltd. has announced the launch of Ambrane Glares, smart glasses that includes open ear speaker system, bluetooth V5.1, and more features. Furthermore the product is certified with UV400 UV certification.

The USB segment is expected to expand at a CAGR of nearly 30% from 2023 to 2030. Avaibility of better quality of full HD display that supports 3D content with $K resolution support is expected to drive the segment growth. For instance, TLC launched their first generation NXTWEAR G smart glasses with USB type-C connectivity. The product comes with Sony OLED lenses equating to a 140-inch view.

Application Insights

The industrial smart glass segment accounted for the largest revenue share of over 27% in 2022 and is expected to lead the smart glasses market throughout the forecast period. This can be attributed to its usage in production line, as it displays step-by-step assembly instructions in worker’s field vision, which makes it more convenient to follow instructions and work efficiently with maximum output. This, in turn, is expected to drive the segment growth further.

The healthcare smart glasses segment is expected to register fastest CAGR growth of over 28% over the forecast period. In healthcare segment, smart glasses can offer heads-up, see-through, eye-on technology that enables the user to maintain eye contact with the patient while maintaining full situational awareness and providing a clear picture of the patient's area of interest, which is expected to drive the segment growth further.

Regional Insights

The North American market accounted for a sizeable revenue share of over 34% in 2022, owing to the rapid advancemenet in technologies and collaboration by enterprises in the region. Moreover, growing popularity of smart glasses among athletes and fitness enthusiasts in countries like the U.S. and Canada is expected to fuel the market growth. For instance, Everysight Raptor and Solos Smart Glasses are specifically designed for cyclists, runner, and triathletes as it helps them to reach their full potential with real time display of information such as average speed, heart rate, among others. The strong presence of several leading market players, such as Amazon Inc. and Bose Corporation is also expected to create lucrative growth prospects for the market.

The Asia Pacific market accounted for the highest CAGR of 30% during the forecast period. This can be attributed to rising disposable income and increasing demand for luxury, which are favoring the expansion of the regional market. Additionally, increased adoption of IoT applications and artificial intelligence in the region is expected to boost the market growth further in the region. For instance, in June 2022, NoiseFit: Health & Fitness Services launched their first pait of smart glasses for India.

Key Companies & Market Share Insights

The major players in the market are concentrating on business strategies like mergers, partnerships, and acquisitions for their businesses along with developing innovative smart glasses to attract a larger customer base and gain a competitive edge in the market. For instance, in June 2020, Google LLC acquired North Canada Devices ULC, a Canadian company known for smart glasses for USD 180 million. The acquisition is expected to help the company with technical expertise in AR based smart glasses.

The competition in this market is high, although technological advancements are allowing companies to save time and cost while increasing their efficiency and effectiveness. Constant research and development are leading to the industry becoming more common and standard even if it requires some investment. Due to globalization, the wireless in-flight entertainment trend is present in global markets over boundaries. Some of the prominent players in the global smart glasses market include:

• Amazon Inc.

• Ampere LLC

• Bose Corporation

• Flows Bandwidth

• Google LLC

• Lenovo

• Lumus Ltd.

• Magic Leap

• Microsoft Corporation

• Qualcomm Technologies, Inc.

• Razer Inc.

• Sony Corporation

• TCL

• Seiko Epson Corp.

• Vuzix Corporation

Smart Glasses Market Report Scope

Global Smart Glasses Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global smart glasses market report based on type, glass tinting technology, operating system, application, connectivity, and region:

• Type Outlook (Volume, Thousand Units; Revenue, USD Million, 2018 - 2030)

  • Monocular Smart Glasses

  • Binocular Smart Glasses

  • Audio Smart Glasses

  • Immersive Smart Glasses

  • Others

• Tinting Technolog Outlook (Volume, Thousand Units; Revenue, USD Million, 2018 - 2030)

  • Polymer-Dispersed Liquid Crystals

  • Electrochromic (EC) Smart Glass

  • Photochromic

  • Suspended Particles Device (SPD)

  • Others

• Operating System Outlook (Volume, Thousand Units; Revenue, USD Million, 2018 - 2030)

  • Android

  • Linux

  • Other

• Application Outlook (Volume, Thousand Units; Revenue, USD Million, 2018 - 2030)

  • Education

  • Gaming

  • Healthcare

  • Industrial

  • Others

• Connectivity Outlook (Volume, Thousand Units; Revenue, USD Million, 2018 - 2030)

  • Bluetooth

  • HDMI

  • USB

• Regional Outlook (Volume, Thousand Units; Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • U.K.

    • France

    • Rest of Europe

  • Asia Pacific

    • China

    • India

    • Japan

    • South Korea

    • ANZ

    • Rest of Asia Pacific

  • Latin America

    • Brazil

    • Rest of Latin America

  • Middle East & Africa