Eyewear Market Projected to Gain Significant Value by 2024 - 2031 | Luxottica Group SpA, Essilor International S.A

Market Overview:

Global eyewear market is expected to reach US$ 388.48 Bn by 2031, from US$ 216.65 Bn in 2023, exhibiting a compound annual growth rate (CAGR) of 8.7% during the forecast period (2024-2031).

Market Dynamics:

Increasing prevalence of ophthalmic conditions like myopia, hyperopia and presbyopia is expected to drive significant market growth over the forecast period. According to a report by Vision Impact Institute, over 2.5 billion people are expected to be affected by myopia by 2020. Additionally, changing lifestyle and increasing focus on aesthetics is promoting the adoption of fashion eyewear like sunglasses. Rising disposable income in developing nations is further fueling market expansion. However, availability of low cost alternatives may limit the market size to some extent during the forecast period.

🔍 Sample Copy of the Report @ https://www.coherentmarketinsights.com/insight/request-sample/767?utm_source=openpr.com&utm_medium=referral

Eyewear Market Drivers

Increasing Screen Time Driving Higher Demand for Prescription Eyewear

With growing technology usage, screen time has significantly increased for people across all age groups over the past decade. Constantly staring at digital screens for work and entertainment is leading to early onset of eye problems like myopia, computer vision syndrome and dry eyes among others. This is fueling higher demand for prescription eyewear products that help minimize digital eye strain and correct vision issues. Leading eyewear brands are launching specialized ranges of computer glasses, blue light blocking lenses and progressive lenses to cash in on this demand.

Eyewear Market Opportunity

Growing E-commerce Channels Expanding Reach

The rapid proliferation of reliable e-commerce platforms and rising internet/smartphone penetration worldwide has opened up new opportunities for eyewear brands. Online shopping offers many advantages like extensive product listings, customized virtual try-ons, product reviews, attractive deals and convenient home delivery. Major retailers are investing in advanced virtual reality/augmented reality technologies to replicate offline shopping experiences digitally. This shift to e-commerce allows brands to cost-effectively target underserved regional markets and increases convenience of purchasing for time-strapped consumers.

Eyewear Market Trend

Increasing Popularity of Lightweight Titanium and Plastic Frames

Consumers are becoming more health-conscious and prefer eyewear products that are lightweight, durable and cause minimal fatigue during extended wear. This has boosted demand for frames made from lightweight yet high-strength materials like titanium and special plastic alloys. Titanium collections deliver maximum style with minimal weight while maintaining rigidity. Plastic options offer comparable performance at affordable price points. Leading brands are leveraging new production technologies to launch innovative collections appealing to this growing consumer preference for comfortable, light eyewear.

🛒 You Can Purchase Complete Report @ https://www.coherentmarketinsights.com/insight/buy-now/767

Top Companies Included in This Report:

★ Luxottica Group SpA
★ Essilor International S.A
★ Carl Zeiss AG
★ Hoya Corporation (Life Care)
★ Johnson & Johnson Vision Care Inc.
★ Cooper Companies Inc.
★ Fielmann AG.
★ Safilo Group Spa
★ Marcolin S.p.A.
★ De Rigo S.p.A.

Market Segmentation:

Based on Product Type:

★ By Product Type: Spectacles, Plano Sunglasses, Contact Lenses, Sportswear, and Eye Care
★ By Price Range: Premium, Mid, and Low
★ By Distribution Channel: E-commerce/Online, Company Outlets/Franchises, Hospitals, Clinics, and Multi-brand Stores

Key Regions/Countries Classified as Follows:

» North America (U.S., Canada, Mexico)

» Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)

» Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)

» South America (Brazil, Argentina, Rest of SA)

» Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)

Latest Trends in the Navigation Eyewear Market:

💡 Surging Demand: Witness a rising demand for navigation Eyewear owing to the escalating usage of GPS-enabled devices and the imperative for precise, up-to-date mapping data.

💡 Innovations in Technology: Witness the emergence of novel technologies aimed at enhancing the precision and dependability of navigation Eyewear, encompassing real-time traffic updates, 3D mapping, and augmented reality.

💡 Tailored Solutions for Diverse Industries: Companies are tailoring navigation Eyewear solutions to cater to the distinct requirements of various sectors such as automotive, aviation, and maritime.

💡 Fusion with Emerging Technologies: Observe the integration of navigation Eyewear with cutting-edge technologies like artificial intelligence and the Internet of Things, facilitating the provision of advanced functionalities.

💡 Rise of Mobile Applications: Experience the proliferation of navigation Eyewear in the form of mobile applications, offering enhanced convenience and accessibility to users.

💡 Emphasis on Environmental Sustainability: Witness the development of navigation Eyewear systems that consider environmental factors such as traffic congestion and air quality, fostering the provision of sustainable transportation alternatives.

Frequently Asked Questions (FAQs) for Global Navigation Eyewear Market Research:

What are the critical factors that companies should prioritize when entering the Navigation Eyewear market?

What is the growth rate of the Navigation Eyewear Market?

What is the current size of the Navigation Eyewear Market?

Which region demonstrates the highest growth rate in the Navigation Eyewear Market?

Which region commands the largest share in the Navigation Eyewear Market?

Who are the key players operating in the Navigation Eyewear Market?

💎 Request For Customization at: @ https://www.coherentmarketinsights.com/insight/request-customization/767

Author Bio:

Vaagisha brings over three years of expertise as a content editor in the market research domain. Originally a creative writer, she discovered her passion for editing, combining her flair for writing with a meticulous eye for detail. Her ability to craft and refine compelling content makes her an invaluable asset in delivering polished and engaging write-ups.

(LinkedIn: https://www.linkedin.com/in/vaagisha-singh-8080b91)

Contact Us

Mr. Shah
Coherent Market Insights Pvt Ltd,
533 Airport Boulevard, Suite 400, Burlingame, CA 94010, United States
Email: sales@coherentmarketinsights.com
United States of America: +1-206-701-6702
United Kingdom: +44-020-8133-4027
Australia: +61-2-4786-0457
India: +91-848-285-0837

About Us

Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.

This release was published on openPR.