New York, NY -- (SBWIRE) -- 07/28/2018 -- The factors which are contributing to the growth of smart glasses market are, rapid innovations and rise in advanced technologies enables attract the sports persons across the globe. The increased awareness of smart glasses enables drive the global smart eyewear market. The smart glasses has significance in health care industry in surgeries. The advantages such as speech recognition, gesture recognition, eye tracking are enables gain the traction of global smart glasses market. However, the smart glasses are costlier than the conventional devices, which may hamper the global smart eyewear market over the forecast period.

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North America leads the global smart eye wear market due to high adoption of smart glasses in consumer electronics, fitness and sports market. European market is expected to exhibit a significant growth rate over the forecast period. Asia-Pacific market is expected to offer lucrative opportunities for the smart glasses market, owing to increase in the health care expenditure in the China, India, and Japan. Middle East and Africa region is expected exhibit modest growth rate over the forecast period.

The Global Smart Glasses market has been segmented based on product, application and, region. On the basis of product the market has been segmented into Android, iOS, Windows and others. The application segmentation includes Industrial/Health/Fitness Purposes and Ordinary Consumer.

On the basis of region the market has been segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. The countries included in the report are U.S., Canada, Germany, UK, France, Italy, China, India, Japan and Brazil.

A conventional camera translates the 3D world into a 2D image. Until now, 2D images have been considered good enough for consumers, and the lost third dimension in 2D imaging seemed unimportant. With skyrocketing improvement of computer vision (CV) combined with deep learning, many ambitious researchers have tried to make machines understand our world through camera or smart glasses so that they can augment human capabilities with many tasks. Now, CV can successfully do things like handwriting recognition, object classification, and is a critical component for enabling autonomous vehicles. In many of those tasks where 2D information is sufficient, CV algorithms have shown a lot of promise. However, when they deal with the real 3D world, researchers find that there is a bottleneck for CV. Human beings have two eyes that enable us to sense depth naturally. These emergence of depth sensing cameras is expected to increase the demand for smart glasses during the forecast period.

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Operating System Trends and Analysis

The demand for android based smart glasses is high in North America and Europe owing to high technology acceptance. The demand is expected to grow rapidly in Asia Pacific owing to rising automation in the manufacturing industry. The android segment accounted for 61.9% in the global smart glasses market in 2017. Latin America and Middle East and Africa are emerging as good prospects over the forecast period. Windows is expected to experience high penetration in Asia Pacific owing to high awareness regarding the operating system.

Application Dynamics

On the basis of application the market is segmented into industrial and consumer. Industrial is largest segment owing to increasing application from manufacturing companies to healthcare. The rise in complex manufacturing and requirement of video collaboration across diverse sectors is expected to boost the application of smart glass in the industrial application. The Industrial/Health/Fitness Purposes accounted for around 91.2% in 2017. Even though the consumer market still has much to grow, various use cases are being applied today. Visitors experiences are being enhanced in museums though AR guides. Theaters are relying on eyewear to provide instant subtitling to their guests. Tourists can easily find their way around through projected navigation directions and reviews.

Regional Insights

North America is estimated to account for the largest share of the global Smart Glasses market, in terms of value, in 2016. Significant adoptions of automation in manufacturing and logistics are driving demand for smart glasses. Asia Pacific is the fastest growing segment backed by rising demand from China and India. Smart glasses demand is expected to be highest in the region owing to positive signs for manufacturing sector. The rise in domestic demand coupled with technological innovation is expected to boost market demand for smart glasses. However, slow growth in end-use industries can hamper market penetration. Other risks include US political uncertainty and slower growth in Europe. The North America smart glasses market accounted for 54.7% in 2017. In 2017, all EU countries experienced an economic recovery and improvements in their labour markets, compared to the crisis years. The improved conditions reflects a global upswing in advanced economies and emerging markets alike. At 2.3%, EU GDP growth in 2017 surpassed expectations. Germany, Ireland, Luxembourg and the Netherlands are doing particularly well, while Belgium and the UK are lagging their peers.

Competitive Landscape

Various manufacturers are focused on achieving optimum business growth and establish strong market position by implementing various strategies such as acquisitions, distribution & marketing, product licensing, and intensive investments in research & development. Technological breakthrough in the market is likely to offer significant scope for the consumption of smart glasses. It is probable that there will be large investments into research and development of smart glasses because the entertainment industry, military and businesses can benefit from smart glasses and there might be a high consumer demand for them soon. The hardware that will be available in the near future still has its pitfalls and will probably need a few years and iterations to be fixed.

Segmentation Deliverables

On the basis of product, the market has been bifurcated into:
- Android
- iOS
- Windows
- Other

By Application, the market has been split into:
- Industrial/Health/Fitness Purposes
- Ordinary Consumer
- Others

By Region, the market has been split into:
- North America (US, Canada)
- Europe (UK, Germany, France, Italy)
- Asia Pacific (China, Japan, South Korea)
- Rest of the World (RoW)

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