AR and VR Smart Glasses Market Research Report- Global Forecast till 2030

AR and VR Smart Glasses Market: by Device Type (Binocular, Monocular), Product (Mobile phone smart glasses, Integrated Smart glasses, External Smart glasses), Application (Education, Gaming, Industrial, Military) – Forecast till 2030

ID: MRFR/SEM/3410-HCR | October 2022 | Region: Global | 100 pages

AR and VR Market-Impact of COVID 19

AR/VR Headset Shipment (in Million)

*Estimated Shipment

The Coronavirus outbreak has caused manufacturing delays, and for a brief period, the overall demand for AV/VR headsets/glasses has reduced. However, in the coming days, specifically from the month of June (when most of the countries will slowly and steadily ease the lockdown) telepresence and content demand are expected to grow on both the enterprise and consumer sides. This, in turn, will lead to an increase in the shipment of AR and VR head-mounted displays and according to MRFR analysis, by 2021, approximately 16-18 million AR/VR headset are expected to be shipped globally.

Due to the pandemic, some of the AR/VR device manufacturers especially from China, Taiwan, and South Korea have witnessed temporary delays in AR/VR device production, increased costs, and revenue losses. MAD Gaze, a Hong Kong-based consumer AR smart glasses provider, announced delay in shipments, and change in its display panel supplier from a Chinese factory to Korean and Japanese factories due to production delays in Chinese factories. Similarly, China-based Nreal, a manufacturer of AR/VR devices also delayed is production schedule. It is not only the small and mid-sized companies that have delayed their production, but also global players like Oculus, HTC, and Vive that are struggling to manage their production during the lockdown and self-quarantine phase. In the long run, however, that is from the month of June, 2020, when the lockdown and quarantine will ease down, bigger firms operating in the market are expected to fill the gap in the production in AR/VR devices, however smaller companies that will be launching their products for the first time in the market will be at a higher risk. Also, in the long run, the demand for AR/VR devices is expected to significantly pick up, particularly due to the benefit that these devices will offer during the post-lockdown/quarantine. AR/VR solutions will prove to be useful devices/solutions that will supplement online education courses. Also, these devices will help in remote training of professionals in various fields, thereby reducing unnecessary travel. These devices will also provide a seamless virtual shopping experience to the consumers. Due to the various use cases of the AR/VR technology, MRFR has deduced that during the post quarantine/lockdown governments will promote such technologies for various use cases that will, in turn, increase the demand for AR/VR devices. Companies operating in the AR/VR technology market will have to prepare themselves in advance to effectively cater to the surge in demand during the coming months.

ToP Regions based on 5-YEAR CAGR (2017-2022)
ToP Regions based

Source: MRFR Analysis

AR/VR Headset Shipment

Source: MRFR Analysis