NEW YORK , Sept. 18, 2024 /PRNewswire/ -- Report on how AI is redefining market landscape- The global smart glasses market size is estimated to grow by USD 76.5 million from 2024-2028, according to Technavio.
The market is estimated to grow at a CAGR of 13.84% during the forecast period. Implementation of automation in industrial sector is driving market growth, with a trend towards rise in number of strategic partnerships and acquisitions.
However, high initial cost of smart glasses poses a challenge. Key market players include 3M Co., AGC Inc.
, Alphabet Inc., Atheer Inc, Elbit Systems Ltd., Good Sky Electric Co.
Ltd., Huawei Technologies Co., Ltd.
, Iristick NV, MAD Gaze Ltd., Magic Leap Inc., Microsoft Corp.
, Nreal Ltd., Optinvent, OXSIGHT Ltd., Seiko Epson Corp.
, Sony Group Corp., ThirdEye Gen Inc., Toshiba Corp.
, Vuzix Corp., and Xinology Co. Ltd.
. Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View the snapshot of this report Market Driver The global smart glasses market is witnessing an increase in strategic partnerships and acquisitions.
These collaborations enable vendors to enhance their offerings, broaden their reach, fortify their market position, and create innovative products. An instance of this trend is Vuzix Corporation's strategic partnership with Rods and Cones in February 2021 . Through this alliance, Vuzix's M-Series Smart Glasses were integrated as an additional video-capturing device for Rod.