At 19% CAGR, Global Smart Eyewear Technology Market Size & Share to Surpass US$ 33 Bn By 2030, Forecast Report By CMI
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According to the study, The Global Smart Eyewear Technology Market was estimated at USD 9 billion in 2021 and is anticipated to reach around USD 33 billion by 2030, growing at a CAGR of roughly 19% between 2022 and 2030.
Overview:
Wearables are gaining significant adoption in the commercial world. Particularly in the Smart Factory and Industry 4.0 movements, high expectations are placed on miniature electronic assistants. The “smart spectacles” hold a special place in the eyes of experts and companies testing the wearables market. These smart glasses can communicate over the Internet, giving the user quick and simple access to constantly updated information about the task. Particularly when used in conjunction with augmented reality, which combines information from the Internet into the wearer’s field of view, the tiny devices reach their full potential. This facilitates daily work while also making it safer and significantly more effective.
Growth Drivers:
Many different technologies are now being tested to function with smart glasses. The field of vision shouldn’t be severely constrained, and colors shouldn’t be distorted are the key concerns. Keeping costs and weight to a minimum is another important objective. Two competing technologies are used to achieve this: either a mirror is used to reflect the data into the user’s field of vision, or an optical waveguide, a light-conducting component of the glass that is invisible to the human eye, is used to convey the images produced by a micro-projector.
The latter is the idea underlying, for instance, the eyewear produced by the Israeli company Lumus and the French firm Optinvent. The benefit of it is that the users can see via the waveguide instead of a display or monitor, which would compromise their eyesight. These glasses may also be produced rather cheaply and are very light. Such developments are expected to propel the demand for the Smart Eyewear Technology market.