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. The augmented and virtual reality contact lens market worldwide is expected to observe robust growth on account of the 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. In addition, 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
AR Contact lens to Continue to 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 a rapidly growing augmented reality market, which shall reach US$ 61.39 Bn in 2023. In addition, increasing investments from technology giants are further driving the growth of the augmented contact lens market. Notably, the increase in demand for augmented reality architecture, high growth in the travel and tourism industry, and rising opportunities in the enterprise industry are driving the AR contact lens market growth. These factors will dominate the market throughout the forecast period AR contact lenses.
The Asia Pacific to Register the Fastest Growth
North America leads the augmented and virtual reality contact lens market. The market here is driven by higher penetration of AR & VR technology and higher investments in R&D by major players. However, the Asia Pacific is set to register the highest growth in the market during the forecast period. Backed by a 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.
Some prominent augmented and virtual reality contact lens players include Innovega, Inwith Corp., Mojo Vision, Sony, Samsung, Verily Life Sciences, Sensimed AG, Medella Health, Alcon, and 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. In addition, compounded Annual Growth Rate (CAGR) for each respective segment was 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. In addition, the report provides a holistic view of the global augmented and virtual reality contact lens market based on lens type, application, and geography. Key segments covered in the report are as follows:
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 (the 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 (the Middle East & Africa, Latin America)
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 lenses across various applications
Notable developments are going on in the 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)
Frequently asked questions :
The market for Augmented And Virtual Reality Contact Lens Market is expected to reach US$ XX Bn in 2027.
The Augmented And Virtual Reality Contact Lens Market is expected to see significant CAGR growth over the coming years, at 70%
The report is forecasted from 2019-2027.
The base year of this report is 2018.
Innovega, Inwith Corp., Mojo Vision, Sony, Samsung Electronics Co., Ltd. are some of the major players in the global market.
