Eyewear Market Report: Trends, Share, Size, Growth Opportunities, In-Depth Analysis Forecast To 2033

The new report published by The Business Research Company, titled ""Eyewear Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033"", delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, 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 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%.

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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.

Technological advancement is a key trend gaining popularity in the eyewear market. Technological advancements in eyewear such as smart glasses are gaining traction in the market. Smart glass refers to a gadget that places a computer screen/display in front of a person's eyes using appropriate technology to convey data from a background information system. The display can be shown/reflected on the lens of glasses or delivered to the eyesight as a separate component. The smart glasses also come with other smart features such as Bluetooth connectivity, open ear speakers, a fitness tracker, and others. These have a modular design and provide functionalities for convenience and ease for users. The key market players are focusing on offering smart glasses to strengthen their market position. For instance, in January 2022, Titan, an Indian luxury products company introduced its new smart glasses Titan EyeX. Open-ear speakers, touch controls, and fitness tracking systems are the intriguing features of Titan EyeX smart glasses. The Bluetooth v5.2-enabled wearable is compatible with Android and iOS smartphones. The product also includes an inbuilt fitness tracker and is dust and water-resistant. The smart glasses' open-ear speakers also enable voice navigation and warnings during heavy use.

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

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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

Contents of the report:
1. Executive Summary
2. Eyewear Market Report Structure
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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