COVID-19 IMPACT SURVEY MAY 2020
Amid the COVID-19 crisis and the looming economic recession, the Smart Augmented Reality (AR) Glasses market worldwide will grow by a projected 31 Million Units, during the analysis period, driven by a revised compounded annual growth rate (CAGR) of 127.7%. Simple Assisted Reality Glasses, one of the segments analyzed and sized in this study, is forecast to grow at over 124.5% and reach a market size of 12.3 Million Units by the end of the analysis period. An unusual period in history, the coronavirus pandemic has unleashed a series of unprecedented events affecting every industry. The Simple Assisted Reality Glasses market will be reset to a new normal which going forwards in a post COVID-19 era will be continuously redefined and redesigned. Staying on top of trends and accurate analysis is paramount now more than ever to manage uncertainty, change and continuously adapt to new and evolving market conditions.
As part of the new emerging geographic scenario, the United States is forecast to readjust to a 115.3% CAGR. Within Europe, the region worst hit by the pandemic, Germany will add over 433.1 Thousand Units to the region's size over the next 7 to 8 years. In addition, over 1.4 Million Units worth of projected demand in the region will come from Rest of European markets. In Japan, the Simple Assisted Reality Glasses segment will reach a market size of 205.3 Thousand Units by the close of the analysis period. Blamed for the pandemic, significant political and economic challenges confront China. Amid the growing push for decoupling and economic distancing, the changing relationship between China and the rest of the world will influence competition and opportunities in the Smart Augmented Reality (AR) Glasses market. Against this backdrop and the changing geopolitical, business and consumer sentiments, the world's second largest economy will grow at 103.3% over the next couple of years and add approximately 1.2 Million Units in terms of addressable market opportunity. Continuous monitoring for emerging signs of a possible new world order post-COVID-19 crisis is a must for aspiring businesses and their astute leaders seeking to find success in the now changing Smart Augmented Reality (AR) Glasses market landscape. All research viewpoints presented are based on validated engagements from influencers in the market, whose opinions supersede all other research methodologies.
Competitors identified in this market include, among others, Atheer Inc.; Avegant Corp.; Daqri; Epson America Inc.; Everysight LTD; GlassUp; Google Inc.; Laforge Optical; Laster Technologies; Lumus Ltd.; Magic Leap Inc.; Meta Company; Microsoft Corp.; NVIS Inc.; Optinvent SA; Osterhout Design Group; Penny AB; Recon Instruments Inc.; Sony Corporation; Sulon Technologies Inc.; Tobii AB; Trivisio; Upskill; Vrvana Inc. Vuzix Corporation