Augmented Reality Headsets Market Size Worth $78.47 Billion By 2025
By: Gaurav Shah
Tags: Middle East, Asia, Europe, Augmented Reality, America

The global augmented reality headsets market size is expected to reach USD 78.47 billion by 2025, registering a CAGR of 73.8% from 2019 to 2025, according to the new study conducted by Grand View Research, Inc. The rising trend for immersive experience is driving the adoption of AR headsets among enterprises and consumers. Moreover, the convergence of IoT, wearable devices, and augmented reality technology is expected to induce market growth. Furthermore, growing popularity of operating, navigating, and maintaining inventories using headsets across industries is driving the demand.

The popularity of the AR headsets has witnessed steady rise with the introduction of smart glasses and wearable lenses; particularly from the entertainment industry. Steady rise in application areas, such as research and development, surgery, navigation, product advertisement, and promotions across industries is expected to bode well for the market growth. The demand for AR glasses or headsets also increased with the rise in need to detect or view 3D objects from the available AR contents or apps. For instance, the display of additional product information and its fittings around different environment condition can be experienced using the head-mounted headsets or AR glasses.

Rising applications of augmented reality headsets in industrial and manufacturing industries to improve the maintenance, repairing, and operational function is expected to drive the growth of the AR headsets market. These headsets enable the enterprises to monitor and check machine specifications in a real-time scenario. For instance, Google LLC, collaborated with Indiana Technology and Manufacturing Companies (ITAMCO) to provide an intuitive machine vision experience using the Google Glass and MTConnect. The real-time visual experience would help monitor internal machine functioning and calibrations. Furthermore, application of AR headsets in assembly and installation phases in the industry also professes a growth in the market.

The introduction of AR tool kits and AR software development kits further contributes to the development of the market. The addition of augmented reality tool kits has enabled the development of numerous AR apps and thus has increased the number of AR users. The tool kits have witnessed considerable advancement over the years with the AR compatible smartphones. For instance, Google’s ARCore software development kit works on more than 100 million android smartphones with advanced capabilities. In February 2018, the extension of ARCore with Google Lens contributed to the development of the market.

The increase in investments and funding raised by the emerging AR headsets enterprises for the development of AR smart glasses is also expected to drive the market. Despite the hefty prices of Head-mounted Display (HMD) and glasses offered by the manufacturers and shutdown of certain leading AR headset enterprises such as Daqri, the industry still regulates with the flow of significant investments. Large technology giants such as Google LLC, Tencent, Alibaba, and many more are extensively investing in emerging startups. For instance, in April 2019, Magic Leap, Inc. an AR goggles developer secured USD 280 million from NTT DoCoMo, a Japan cellphone service giant. Earlier Magic Leap, Inc. had already secured funding of more than USD 2.3 billion, from Google LLC, Alibaba Group, and J.P. Morgan.

Click the link below:

https://www.grandviewresearch.com/industry-analysis/augmented-reality-ar-headsets-market

Further key findings from the report suggest: