Created by Pavel Dichev and Jack Ling

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Strengths

• Low cost (In the current market for AR glasses, all of them are far expensive for the general market.)
• Accessibility (Currently the AR glasses in the market are coming not only with the device but with the glasses as well, which limits the users that can use them. Approximately 75% of the adult population use some type of vision correction, which means that AR glasses are targeted to only 25% of the population. Our project is just an adaptable device which can snap to any type of frame and reflect on already existing glasses with lenses.

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Weaknesses

• Features (Currently the features that we present are mainly used by most of our competitors, that goes for navigation, music and a 3D preview of an item.
• Design (The design of the device is limited to one, for future we are going to make multiple designs of that device so it looks more stylish since we want people with already existing glasses to use it.
• Social Rejection (AR glasses aren’t as popular at the moment, even though they have been out on the market for a long time now, the majority of people don’t know they exist.)

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Opportunities

• Both VR and AR are ever increasing in popularity, which means familiarity with the VR demo we are implementing as well as AR increasing in popularity and affordability helping to boost product sales
• By promoting the unique aspect of our product, the bar that can potentially turn any pair of glasses into a pair AR glasses, we distinguish ourselves from other companies and have the potential to sell this concept/product to larger entities such as Microsoft and Google or be able to differentiate our product from theirs when pitching to potential investors.
• Market Research Future published a report stating that the Compound Annual Growth Rate of AR and VR smart glasses, starting in 2017, is at 13% by 2023, projected to reach USD 31 billion. This indicates that the market is growing and now is a good time to breach into it. (MarketWatch.com)
• Company is based in Europe, which has projected fastest growth rate during forecast period. So demand for AR products should be high.

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Threats

• Multiple competitors that currently dominate the market, such as Google Glass and Microsoft Hololens, have a much larger budget and current customer base due to Google dominating the search engine market and Microsoft dominating the computer sales and PC operating systems.
• As the CAGR and popularity increases it will become a more saturated market, subsequently more competitors will enter the market with potentially similar products.
• Rokid, have announced a AR glasses product, Rokid Glass, that doesn’t require tethering to a smartphone, making AR glasses a completely individual product increasing its target audience.