Multiple Feature Offering to Boost the Augmented and Virtual Reality Contact Lens Market
The augmented and virtual reality contact lens market is set to expand with a CAGR of 70% through the forecast period starting from 2019 to 2027. Augmented and virtual reality contact lens market worldwide is expected to observe a robust growth on account of growing AR/VR market across the globe. These lenses are used for interactive experiences in the entertainment industry such as streaming a concert or collaborating experiences in the education industry. The lenses can be used in mobile applications for various functions such as navigation, gaming, education and healthcare. Considering all these factors, the augmented and virtual reality contact lens market would register huge growth during the forecast period.
Market Synopsis
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AR Contact lens to Continue Grow Significantly
The AR contact lens segment shall lead the augmented and virtual reality contact lens market. The AR contact lens market is backed by rapidly growing augmented reality market, which shall reach US$ 61.39 Bn in 2023. Increasing investments from technology giants is further driving the growth of augmented contact lens market. Notably increase in demand for augmented reality architecture, high growth in travel and tourism industry and rising opportunities in enterprise industry is driving the growth of the AR contact lens market. Due to these factors, AR contact lens will continue dominating the market throughout the forecast period.
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Asia Pacific to Register the Fastest Growth
Augmented and virtual reality contact lens market is led by North America. The market here majorly is driven by higher penetration of AR & VR technology and higher investments in R&D by major players. Asia Pacific is set to register the highest growth in the market during the forecast period. Backed by growing technological user base in the region especially in developing countries in India and China. Further, the region will witness industrial expansion with new technological advancements, which shall further drive the augmented and virtual reality contact lens market. On account of these factors, Asia Pacific will grow with the highest CAGR throughout the forecast period.
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Some of the prominent players operating in the augmented and virtual reality contact lens market include Innovega, Inwith Corp., Mojo Vision, Sony, Samsung, Verily Life Sciences, Sensimed AG, Medella Health, Alcon, Ocumetrics Bionic Lens among others.
Historical & Forecast Period
This research report presents the analysis of each segment from 2017 to 2027 considering 2018 as the base year for the research. Compounded Annual Growth Rate (CAGR) for each respective segments calculated for the forecast period from 2019 to 2027.
Report Scope by Segments
The augmented and virtual reality contact lens market report provides market size and estimates based on market dynamics and key trends observed in the industry. The report provides a holistic view of global augmented and virtual reality contact lens market based on lens type, application and geography. Key segments covered in the report are as follows:
| ATTRIBUTE |
DETAILS |
| Research Period |
2017-2027 |
| Base Year |
2018 |
| Forecast Period |
2019-2027 |
| Historical Year |
2017 |
| Unit |
USD Billion |
| Segmentation |
Lens Type (2017–2027; US$ Bn)
• AR Contact Lens
• VR Contact Lens
|
|
Application Type (2017–2027; US$ Bn)
• Gaming
• Medical
|
|
Geography (2017–2027; US$ Bn)
• North America (U.S., Rest of North America)
• Europe (U.K., Germany, France, Rest of Europe)
• Asia Pacific (China, Japan, India, Rest of Asia Pacific)
• Rest of the World (Middle East & Africa, Latin America)
|
Key questions answered in this report
- What was the market size of augmented and virtual reality contact lens in 2018 and forecast up to 2027?
- Which is the largest regional market for augmented and virtual reality contact lens?
- What are the major trends followed in overall augmented and virtual reality contact lens across different regions?
- Who are the key augmented and virtual reality contact lens companies leading the market?
- What are the key strategies adopted by the leading augmented and virtual reality contact lens companies in market?
Unique data points of this report
- Statistics on electronics worldwide
- Recent trends across different regions in terms of adoption of augmented and virtual reality contact lens across various applications
- Notable developments going on in augmented and virtual reality contact lens market
- Attractive investment proposition for segments as well as geography
- Comparative scenario for all the segments for years 2018 (actual) and 2027 (forecast)
