Latest reports from Juniper Research predict that by 2018 the business of shipping the wearable smart glasses will have gone up to 10 million annually as it is currently at 87000 shipments annually.
Juniper is a leading hi-tech analyst and it further notes that as the retail price for Smart Glasses decline towards the end of the forecast period, the adoption level amongst consumers will significantly increase.
In their report, ‘Smart Glasses: Market Prospects 2013-2018’, they say that the device will only get such turn outs only if the devices incorporate intuitive and user-friendly functionalities.
The report also argues that consumers will be ones making most of the shipments of this devices and followed by other sectors beginning with the enterprise and the health sectors.
In the health sector, smart glasses are predicted to be very efficient in diagnostic reference, surgical assistance and monitoring can be applied. Long term growth will be achievable but regulatory approval and field trials will potentially impact timescales.
The enterprise sector on the other hand has a whole load possibility, starting from engineering to logistics applications. Well, as for the App developers, they are still finding out custom enterprise use cases for developing apps for smart glasses.
However, the largest opportunity will be in the consumer sector with the rate of adoption largely dependent on the market availability of attractive hardware and apps. The report adds that app-enabled mobile smart wearable device hardware market will approach $19 billion by 2018.
The report says the market will be dominated by the most developed regions in North America, Far East & China and Western Europe.
Since its introduction, the device popularity has not gained momentum in Africa, as its market is still fascinated by smart phones;