Press release
Eyewear Market Pegged for Robust Expansion During 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:
The eyewear market is expected to witness significant growth owing to the increasing adoption among the millennial population and growing awareness regarding eye care. The increasing prevalence of eye diseases such as myopia, hyperopia, and astigmatism is also driving the demand for eyewear products. According to the WHO, about 2.2 billion people globally are estimated to be short-sighted and require eyeglasses. Rapid urbanization and excessive use of digital devices are major factors contributing to the rising cases of eye diseases. Moreover, advancements in lenses, materials and coating technologies are further augmenting the market growth.
💠Sample Copy of the Report @ https://www.coherentmarketinsights.com/insight/request-sample/767
Rising Demand for Prescription Glasses Driving Growth in Eyewear Market
The global prescription eyewear market is growing due to rising number of consumers who require vision correction. Long working hours in front of digital screens like computers and smartphones is increasing cases of myopia and other vision related issues. This has resulted in more number of people opting for prescription glasses. Changing lifestyles and increasing disposable incomes in developing nations is also a major factor augmenting the demand. Moreover, rising geriatric population prone to vision impairment and eye disorders worldwide acts as a growth driver. Manufacturers are introducing innovative designs, lightweight materials and advanced lens technology to cater to the growing needs.
Growing Online Sales Present Lucrative Opportunity
The popularity of online shopping, especially since the pandemic, provides lucrative opportunities for eyewear brands. Shoppers find virtual try-ons, huge assortments, customization options and doorstep delivery very convenient compared to physical retailers. E-commerce allows companies to reach wider consumer base and sell latest collections at competitive prices. Rising internet and smartphone penetration in emerging markets accelerates this trend. Strategic partnerships with major e-tailers and investment in AR/VR virtual try-on technologies can help brands leverage the digital opportunity. Aggressive online marketing plays a vital role in educating and engaging new customers online.
Sustainable Eyewear Emerges as Major Trend
Growing consumer awareness about eco-friendly products and preference for sustainable brands is a notable trend in the eyewear industry. Customers are willing to pay premium for products made using recycled, plant-based or biodegradable materials. Leading companies are actively switching to renewable energy, zero-waste production and green packaging solutions. Some offer repair and reuse programs to extend product lifespan. Launch of reusable, customized and modular eyewear collections crafted from sustainable bamboo, seaweed or corn-based plastic also gain traction. This shift towards more conscious consumption presents a strategic long-term opportunity for brands aligning with sustainability goals.
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)
💠You Can Purchase Complete Report @ https://www.coherentmarketinsights.com/insight/buy-now/767
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.
Report Highlights:
Evaluation of Navigation Eyewear Market Share at Country and Regional Levels.
Strategic Landscape Analysis, Highlighting Key Trends.
Examination of Navigation Eyewear Market Trends, Including Product and Technological Insights, Drivers and Constraints, and PORTER's Five Forces Analysis.
Strategic Recommendations for Key Business Segments Based on Market Assessments.
Guidance Tailored for New Entrants.
Market Forecasts for All Identified Segments, Sub-segments, and Regional Markets in the Navigation Eyewear Sector.
Frequently Asked Questions (FAQs) for Global Navigation Eyewear Market Research:
What is the duration of this market study?
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
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
Japan: +050-5539-1737
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.
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:
The eyewear market is expected to witness significant growth owing to the increasing adoption among the millennial population and growing awareness regarding eye care. The increasing prevalence of eye diseases such as myopia, hyperopia, and astigmatism is also driving the demand for eyewear products. According to the WHO, about 2.2 billion people globally are estimated to be short-sighted and require eyeglasses. Rapid urbanization and excessive use of digital devices are major factors contributing to the rising cases of eye diseases. Moreover, advancements in lenses, materials and coating technologies are further augmenting the market growth.
💠Sample Copy of the Report @ https://www.coherentmarketinsights.com/insight/request-sample/767
Rising Demand for Prescription Glasses Driving Growth in Eyewear Market
The global prescription eyewear market is growing due to rising number of consumers who require vision correction. Long working hours in front of digital screens like computers and smartphones is increasing cases of myopia and other vision related issues. This has resulted in more number of people opting for prescription glasses. Changing lifestyles and increasing disposable incomes in developing nations is also a major factor augmenting the demand. Moreover, rising geriatric population prone to vision impairment and eye disorders worldwide acts as a growth driver. Manufacturers are introducing innovative designs, lightweight materials and advanced lens technology to cater to the growing needs.
Growing Online Sales Present Lucrative Opportunity
The popularity of online shopping, especially since the pandemic, provides lucrative opportunities for eyewear brands. Shoppers find virtual try-ons, huge assortments, customization options and doorstep delivery very convenient compared to physical retailers. E-commerce allows companies to reach wider consumer base and sell latest collections at competitive prices. Rising internet and smartphone penetration in emerging markets accelerates this trend. Strategic partnerships with major e-tailers and investment in AR/VR virtual try-on technologies can help brands leverage the digital opportunity. Aggressive online marketing plays a vital role in educating and engaging new customers online.
Sustainable Eyewear Emerges as Major Trend
Growing consumer awareness about eco-friendly products and preference for sustainable brands is a notable trend in the eyewear industry. Customers are willing to pay premium for products made using recycled, plant-based or biodegradable materials. Leading companies are actively switching to renewable energy, zero-waste production and green packaging solutions. Some offer repair and reuse programs to extend product lifespan. Launch of reusable, customized and modular eyewear collections crafted from sustainable bamboo, seaweed or corn-based plastic also gain traction. This shift towards more conscious consumption presents a strategic long-term opportunity for brands aligning with sustainability goals.
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)
💠You Can Purchase Complete Report @ https://www.coherentmarketinsights.com/insight/buy-now/767
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.
Report Highlights:
Evaluation of Navigation Eyewear Market Share at Country and Regional Levels.
Strategic Landscape Analysis, Highlighting Key Trends.
Examination of Navigation Eyewear Market Trends, Including Product and Technological Insights, Drivers and Constraints, and PORTER's Five Forces Analysis.
Strategic Recommendations for Key Business Segments Based on Market Assessments.
Guidance Tailored for New Entrants.
Market Forecasts for All Identified Segments, Sub-segments, and Regional Markets in the Navigation Eyewear Sector.
Frequently Asked Questions (FAQs) for Global Navigation Eyewear Market Research:
What is the duration of this market study?
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
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
Japan: +050-5539-1737
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.
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