Eyewear Industry Data Book | Forecast 2030

The global traditional eyewear, contact lenses, and smart glasses markets cumulatively accounted for USD 171.1 billion in revenue in 2022, which is expected to reach USD 332.0 billion by 2030, growing at a compound annual growth rate (CAGR) of 8.7% over the forecast period. The eyewear industry has witnessed significant growth over the years, driven by several key factors. For instance, the increasing prevalence of vision-related issues such as astigmatism, myopia, hyperopia, and presbyopia have significantly contributed to the expansion of the eyewear market. As more individuals require corrective lenses or vision aids, the demand for prescription glasses, contact lenses, and specialized eyewear has surged.

Access the Global Eyewear Industry Data Book, 2023 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking, macro-environmental analyses, and regulatory & technological framework studies

Advancements in technology are playing a pivotal role in the expansion of the eyewear sector. The development of lightweight and durable materials, such as titanium and carbon fiber, has led to the production of more comfortable and stylish eyewear. Innovative lens technologies, such as anti-glare coatings, blue-light filters, and photochromic lenses, have gained significant popularity, catering to the evolving needs and preferences of consumers. Besides, the increasing awareness of the harmful effects of UV radiation on the eyes has propelled the demand for sun-protected eyewear. With growing concerns about eye protection and the desire to prevent conditions like cataracts and macular degeneration, consumers are increasingly investing in high-quality sunglasses that offer effective UV protection.

Additionally, the widespread adoption of e-commerce and online retail platforms has revolutionized the eyewear industry. Online retailers offer a wide range of eyewear options, allowing consumers to conveniently browse and purchase products from the comfort of their homes. Virtual try-on technologies and home try-on services have further enhanced the online shopping experience, facilitating increased sales and market expansion.

Contact Lenses Market Report Highlights

• The silicone hydrogel material segment captured a significant revenue share in 2022 and is expected to grow significantly over time owing to the flexibility, comfort, and oxygen permeability offered by silicone hydrogel-based lenses

• The toric design segment is estimated to record a CAGR of over 11.0% from 2023 to 2030 owing to the advantages associated with them. These lenses are suitable for patients with both astigmatism as well as refractive errors at the same time. They help in correcting the corneal shape, which is responsible for refractive errors

• The corrective segment accounted for a sizeable revenue share in 2022 owing to increased demand for majorly recognized corrective lenses, such as multifocal, bifocal, spherical, and toric

• The e-commerce distribution channel segment is expected to record a significant growth rate over the forecast period. This can be credited to the easy availability of several brands on a single portal and also the convenience of buying online

• In terms of usage, the daily disposable segment is expected to grow at a CAGR of nearly 10.0% over the forecast period. These lenses offer greater convenience and are easy to use and do not require additional care, such as storage or disinfection when not in use

• North America captured the largest revenue share of 39.0% in 2022 due to the increased product demand on account of the high cases of refractive errors in the region

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Smart Glasses Market Report Highlights

• The audio smart glasses type has been the largest segment as it produces crystal clear sound without any hinderances from outside, allowing it to achieve a market share of over 28% from 2023 to 2030

• Based on glass tinting technology, the Electrochromic (EC) segment accounted for highest CAGR during forecast period. This can be attributed to the ability to control the tint level depending upon the environment

• The android segment accounted for the largest market share of over 48% in the smart glasses market during the forecast period. This can be attributed to the easy-to-use interface of android operating system

• Based on connectivity, the bluetooth segment accounted for the largest revenue share of over 50% of the overall market in 2022 owing to its easy to use connectivity of smart glasses with smartphones, tablets, among others

• The healthcare smart glasses segment is expected to register fastest CAGR growth of over 29% over the forecast period. This can be attributed to its features that enable the user to maintain eye contact with the patient while maintaining full situational awareness

• North America accounted for the largest market share of near 35% in 2030, this is due to the investment and technological advancement from the key manufacturers in the region

Eyewear Industry Segmentation

Traditional Eyewear Market, By Distribution Channel

• E-Commerce
• Retail
• Others

Contact Lenses Market, By Distribution Channel

• E-Commerce
• Retail
• Others

Smart Glasses Market, By Distribution Channel

• E-Commerce
• Retail
• Others