Augmented reality (AR) has made its way into another aspect of our lives in the form of smart glasses. Regarded as the next ‘big thing’, smart glasses are computers that collect data with the help of external and internal sensors and enable the wearer to perform various tasks. Even though AR is still in its infancy, developers have been able to understand the potential of the technology, which explains the large amount of investment in R&D activities by vendors across the globe. According to analysts at Technavio, the global smart glasses market, which was valued at $273 million in 2015, is poised to record an impressive CAGR of more than 140% by 2020.
Latest trends in the smart glasses market
Depth-sensing cameras
Depth-sensing cameras contain sensors that can scan objects in 3D, which creates immense possibilities for photography, gaming, and commerce. Leading companies like Intel and Google have already invested in this technology, and analysts at Technavio expect that by 2020, camera depth sensors will be used in smart glasses as well. The fact that several software developers are updating their apps to include 3D sensor support technology reflects the growing popularity of depth-sensing cameras.
Integration of gesture and voice recognition
Until 2015, most smart glasses were controlled by touchpads, which aren’t very user-friendly. The latest trend involves integrating gesture and voice recognition technologies so as to provide the user with a seamless and intuitive experience. With developers like Vuzix, Atheer Labs, and APX Labs including voice and gesture features in their smart glasses, ‘touchless control’ will soon become the norm in the global smart glasses market.
Decline in average selling price (ASP)
Most new tech products tend to be expensive. In the case of smart glasses, the ASP will eventually be reduced in the next few years. And as major vendors such as Google, Microsoft, and Samsung purchase components at low cost, not only will the price of smart glasses go down, but there will also be many more opportunities for manufacturers of components such as lenses, displays, cameras, and sensors.
Growing popularity of COPE and BYOD policies
As the mobile workforce becomes standard, corporate owned-personally enabled (COPE) and bring your own device (BYOD) policies are catching up in most organizations. COPE and BYOD policies for tablets and smartphones have been extended to smart glasses in the past year. There is a good chance that organizations will start offering smart glasses with built-in AR apps for use in the workplace.
Increased interest from developers
There is increased interest on the part of individual developers in buying software developer kits for smart glasses and developing unique apps. As more and more developers use these kits, smart glasses will become increasingly popular and desirable. More than 10,000 developers already have Google Glass and are experimenting with app development. One of the leading vendors in the market, Optinvent, has raised $104,656 from 224 backers in 60 days.
Beyond the aforementioned trends, smart glasses are being used to help people with weak eyesight to perform manual labour in the healthcare and industrial sectors and to access the details of delivered or undelivered items in the supply chain industry. It is clear that smart glasses offer immense possibilities for a variety of industries.
Some of the leading vendors in the global smart glasses market include Atheer, Optinvent, Recon Instruments, Vuzix and ODG.
