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Key Trends Reshaping the Sunglasses Market: Leading Sunglass Brands Embrace AI With Chatgpt-Enabled Smart Eyewear Industry Transformation
Sunglasses
Sunglasses Market Size Growth Forecast: What to Expect by 2025?
In recent times, the market size of sunglasses has been on a progressive rise. It is projected to increase from $18.11 billion in 2024 to an estimated $18.93 billion in 2025, experiencing a compound annual growth rate (CAGR) of 4.5%. The notable growth in the past is influenced by factors such as evolving fashion trends, heightened awareness about UV radiation, endorsements from famous personalities, the surge in tourism and travel, and a rise in outdoor activities.
How Will the Sunglasses Market Size Evolve and Grow by 2029?
The market for sunglasses is projected to exhibit robust growth in the forthcoming years. It is set to escalate to $23.71 billion by 2029, with a compound annual growth rate (CAGR) of 5.8%. The expansion during the forecast period is attributed to growing health awareness, increased travel and tourism, the impact of social media, climate change effects, sports and outdoor lifestyle trends, as well as brand partnerships and marketing strategies. Notable trends projected during the forecast period include the effect of celebrities and fashion on design, the growth of augmented reality (AR) try-on experiences, the launch of intelligent sunglasses featuring connectivity, emphasis on gender-neutral and inclusive designs, and partnerships with brands promoting sustainable fashion.
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What Drivers Are Propelling the Growth of Sunglasses Market Forward?
The escalating interest in outdoor leisure activities is anticipated to fuel the expansion of the sunglasses market in the future. These activities, which are usually carried out in the natural environment, include pastimes like trekking, camping, fishing, and biking that promote physical activity, relaxation, and pleasure. The growth in these activities can be tied to increased spare time due to work from home, health perks, social advantages, and increased environmental consciousness. Specific types of sunglasses are made to protect the eyes in brightly lit environments and these are especially favoured by sport aficionados. For example, the Outdoor Industry Association, a trade group based in the U.S. that represents the outdoor recreational industry, reported in June 2023, that the count of participants in birdwatching increased by 6.8% in 2022 compared to 2021. As a result, the escalating interest in outdoor recreational activities is expected to spur the growth of the sunglasses market.
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What Long-Term Trends Will Define the Future of the Sunglasses Market?
Leading businesses engaged in the sunglasses sector, such as ChatGPT-enabled smart sunglasses, are focusing on incorporating high-tech functionality, fashion, and sustainability in wearable technology in response to changing consumer tastes. ChatGPT-enabled smart sunglasses, a new kind of tech-savvy glasses, allow wearers to interact with ChatGPT using vocal commands, thus fusing AI functionality with wearable fashion for a hands-free assistance. For instance, in May 2024, US-based Innovative Eyewear, Inc. unveiled the world's premiere rimless smart eyewear line, Eddie Bauer Smart Eyewear collection, which has in-built ChatGPT vocal access across its four styles. These glasses are equipped with polarized lenses, offer a Bluetooth range of up to 100 feet, quadrasonic speakers, and ultra-clear microphones ideal for outdoor activities. Each pair is also accompanied by an exclusively patented charging dock capable of powering the glasses and up to three additional devices, providing convenience for all-day adventure.
What Are the Key Segments in the Sunglasses Market?
The sunglasses market covered in this report is segmented -
1) By Type: Non-Polarized, Polarized
2) By Design: Aviator Or Pilot, Rectangle, Round, Square, Oval, Cat Eye, Other Designs
3) By Frame Metal: Injected, Metal, Acetate, Other Frame Metals
4) By Distribution Channel: Specialty Stores, Super markets And Hyper markets, Online, Other Distribution Channels
Subsegments:
1) By Non-Polarized: Fashion Sunglasses, UV Protection Sunglasses, Prescription Sunglasses
2) By Polarized: Sport Sunglasses, Outdoor Activity Sunglasses, Fashion Polarized Sunglasses
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Who Are the Key Players Shaping the Sunglasses Market's Competitive Landscape?
Major companies operating in the sunglasses market include LVMH Moët Hennessy Louis Vuitton, EssilorLuxottica SA, Kering SA, Luxottica Group S.p.A., Persol Holdings Co Ltd., VSP Global Inc., Fielmann AG, Safilo Group S.p.A., Marcolin S.p.A., De Rigo Vision S.p.A., Oakley Inc., Maui Jim Inc., Julbo SA, Eyeking LLC, Alain Mikli International, Eyevan Inc., Bolon AB, Costa Del Mar Sunglasses Inc., Randolph Engineering Inc., Michael Kors Holdings Limited, Polo Ralph Lauren Corp, Prada SpA, Ralph Lauren Corp, Tiffany & Co, Gianni Versace S.r.l., Ray-Ban Sun Optics Pvt Ltd
What Geographic Markets Are Powering Growth in the Sunglasses Market?
North America was the largest region in the sunglasses market in 2024 and it is also expected to be the fastest-growing region in the forecast period. The regions covered in the sunglasses market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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