Eyewear Market Size, Restraints, Drivers, Trends And Analysis 2024-2033

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033

The Business Research Company offers in-depth market insights through Eyewear Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.

Market Size And Growth Forecast:
The eyewear market size has grown rapidly in recent years. It will grow from $146.08 billion in 2023 to $162.66 billion in 2024 at a compound annual growth rate (CAGR) of 11.4%. The growth in the historic period can be attributed to fashion and style trends, increasing vision problems, rising awareness of up protection, celebrity endorsements and influences, aging population.

The eyewear market size is expected to see rapid growth in the next few years. It will grow to $244.24 billion in 2028 at a compound annual growth rate (CAGR) of 10.7%. The growth in the forecast period can be attributed to innovation in smart eyewear, eco-friendly and sustainable practices, globalization and market expansion, personalization and customization, rise of online try-on services. Major trends in the forecast period include digital eye strain awareness, technological advancements, focus on sustainable eyewear, e-commerce dominance, blue light filtering technology.

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Market Segmentation:
The eyewear market covered in this report is segmented -
1) By Product: Contact Lenses, Spectacles, Sunglasses
2) By Gender: Men, Women, Unisex
3) By Distribution Channel: Optical Stores, Independent Brand Showrooms, Online Stores, Retail Stores

Major Driver - Surge In Cases Of Deteriorating Eye Health Propels The Eyewear Market Growth
The increasing cases of deteriorating eye health are driving the growth of the eyewear market. Eye deterioration refers to losing the ability to see clearly or the emergence of some defects in the eyes. The most prevalent causes of eye deterioration include age-related macular degeneration, cataract, diabetic retinopathy, glaucoma, and prolonged screen usage. The increasing prevalence of eye deterioration will drive significant demand for eyewear as it helps in correcting eye disorders and helps in gaining clear vision. For instance, according to a news release in October 2021 by the World Health Organization (WHO), at least 1 billion people worldwide have near or distant visual impairment that could be prevented or has yet to be addressed. Vision impairment majorly affects people over the age of 50 and the leading causes are untreated cataracts and uncorrected refractive error. Therefore, the increasing cases of deteriorating eye health is expected to boost demand for eyewear during forecast period.

Competitive Landscape:
Major companies operating in the eyewear market report are Silhouette International Schmied AG, JAND Inc., LVMH Moët Hennessy Louis Vuitton SE, Essilor International S.A., Carl Zeiss AG, Alcon Vision LLC, Hoya Corporation, Johnson & Johnson Vision Care Inc., Specsavers Optical Group Limited, GrandVision BV, Burberry Group plc, Bausch & Lomb Incorporated, The Cooper Companies Inc., Italia Independent Group S.p.A., Fielmann AG, Safilo Group S.p.A., Kering Eyewear, Marchon Eyewear Inc., Rodenstock GmbH, TAG Heuer SA, De Rigo Vision S.p.A., Marcolin S.p.A., Oakley Inc., Maui Jim Inc., Charmant Group Inc., Seiko Optical Products Co. Ltd., Lafont Paris, Luxottica Group S.p.A., Silmo Paris, Luxexcel Group BV

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Top Trend - Giants Eyewear Players Revolutionize The Market With Alexa Glasses
Major companies operating in the eyewear market are focused on developing innovative technologies such as Alexa-powered glasses. Alexa-powered glasses seamlessly integrate Amazon's virtual assistant, Alexa, enabling users to interact with the digital assistant hands-free through voice control directly integrated into the eyewear. For instance, in September 2023, Amazon.com, Inc., a US-based e-commerce company, launched 'Echo Frames'. These smart frames are integrated with Alexa, which permits users to maintain connectivity while effortlessly integrating into their lifestyle when not actively in use. These smart glasses offer a variety of lens choices, including UV400-protected sunglass lenses, prescription-ready options, and blue light lenses. Additionally, they boast IPX4 water resistance and scratch-resistant features. With a full battery charge, each pair of these smart glasses provides up to six hours of continuous media playback, offering 40% more audio playback and 80% more talk time compared to the previous generation. Packed with convenient features, they allow users to start a playlist with a double-press of a button and support multipoint pairing.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Eyewear Market Characteristics
3. Eyewear Market Trends And Strategies
4. Eyewear Market - Macro Economic Scenario
5. Eyewear Market Size And Growth
…..
27. Eyewear Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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