According to a new report by Expert Market Research titled, ‘Global Eyewear Market Report and Forecast 2020-2025’, the global eyewear market size was around USD 138.2 billion in 2019. The industry is further expected to grow at a CAGR of 8% between 2020 and 2025 to attain a value of USD 219.4 billion by 2025.
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The global eyewear market is being driven by the rising demand for eyewear products for vision correction, protection of eyes from sunlight, and harmful UV rays,as well as to enhance one’s appearance. The growing demand for corrective glasses due to the increasing incidences of ophthalmic disorders such as myopia, presbyopia, and hypermetropia is mainly driving the growth of this segment, and in turn, propelling the eyewear industry further.
The significant investment by the companies in technology-based innovative solutions through new collaborations is expected to result in improved solutions for customers, thus, benefitting the overall eyewear industry. In November 2018, Fielmann Ventures GmbH, a wholly-owned subsidiary of Fielmann AG (OTCMKTS: FLMNF), a key player in the industry, announced a multi-million investment in FittingBox, a global leader in 3D try-on and fitting technology, acquiring 20% of its total share. The investment by the company is aimed at expanding its digitisation strategy, aiming to digitise the eyewear industry to benefit consumers without compromising on quality. Such developments are expected to aid the growth of the eyewear market globally over the forecast period.
Explore the full report with the table of contents@ https://www.expertmarketresearch.com/reports/eyewear-market
Market Breakup by Product:
- Contact Lenses
Market Breakup by Gender:
Market Breakup by Distribution Channel:
- Optical Stores
- Independent Brand Showrooms
- Online Stores
Market Breakup by Region:
1 North America
1.1 United States of America
2.2 United Kingdom
3 Asia Pacific
4 Latin America
5 Middle East & Africa
5.1 Saudi Arabia
5.2 United Arab Emirates
5.4 South Africa
Competitive Landscape & Supplier Analysis:
- Bausch & Lomb Inc.
- Charmant Group
- Ciba Vision
- Cooper Vision (NYSE: COO)
- Fielmann AG (ETR: FIE)
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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