NEWARK, Del, Aug. 24, 2022 (GLOBE NEWSWIRE) -- The global augmented reality glasses market is projected to reach a value of US$ 74,384.1 Mn by 2032, with demand growing at a staggering CAGR of 20.3% over the forecast period of 2022 to 2032. Valued at US$ 11,748.7 Mn in 2022, the augmented reality glasses market is fueled by the deep penetration of smartphones and the internet all over the world. The keen interest and fascination of people across the world in merging the real with the unreal further supplements the demand for augmented reality glasses.
Smart glasses are gaining momentum and popularity due to their ability to seamlessly merge the user’s vision with the virtual world. These glasses are composed of display, sensors, accelerometers, smart software, and internet connectivity which add contextual information to the user’s view. AR-empowered smart glasses are now used for daily domestic and professional purposes with growing frequency.
The primary market driver for augment reality glasses is the expanding market for head-mounted display. In 2021, head-mounted display and smart glass segment together accounted for 69.5% of augmented reality market revenue. Heightened demand for head-mounted display and smart glasses in multiple industry vertical and enterprises will foster growth for augmented reality glasses.