The global Augmented and Virtual Reality Contact Lens market was valued at US$ 13 million in 2019 and is expected to reach US$ 39 million by the end of 2026, growing at a CAGR of 17.2% during 2021-2026.
Augmented and virtual reality contact lens are devices that could provide a virtual display that could have a variety of uses from assisting the visually impaired to video Military Applications. The device will have the form of a conventional contact lens with added bionics technology in the form of augmented reality, with functional electronic circuits and infrared lights to create a virtual display allowing the viewer to see a computer-generated display superimposed on the world outside.
By 2019, the products of Innovega and Inwith Corp are expected to enter the stage of commercialization.The key factors driving the growth of the aforementioned industry are product’s high technology content and practical. With the breakthrough of technology and depression of application scope, the increased consumption of smart contact lenses are expected to continue during the remaining years of the forecast period of 2019-2025.
As for the application field, the research direction of companies or research institutes are mainly concentrated in the medical and military fields. With the development of technology and the decrease of cost, it is expected to be popularized in the field of consumer electronics. Technological giants such as Apple, Google and Sony are pushing the market forward through investment or technology development.
Global Augmented and Virtual Reality Contact Lens Market: Drivers and Restrains
The research report has incorporated the analysis of different factors that augment the market’s growth. It constitutes trends, restraints, and drivers that transform the market in either a positive or negative manner. This section also provides the scope of different segments and applications that can potentially influence the market in the future. The detailed information is based on current trends and historic milestones. This section also provides an analysis of the volume of production about the global market and about each type from 2016 to 2027. This section mentions the volume of production by region from 2016 to 2027. Pricing analysis is included in the report according to each type from the year 2016 to 2027, manufacturer from 2016 to 2021, region from 2016 to 2021, and global price from 2016 to 2027.
A thorough evaluation of the restrains included in the report portrays the contrast to drivers and gives room for strategic planning. Factors that overshadow the market growth are pivotal as they can be understood to devise different bends for getting hold of the lucrative opportunities that are present in the ever-growing market. Additionally, insights into market expert’s opinions have been taken to understand the market better.
Global Augmented and Virtual Reality Contact Lens Market: Segment Analysis
The research report includes specific segments by region (country), by manufacturers, by Type and by Application. Each type provides information about the production during the forecast period of 2016 to 2027.
Key Companies profiled in this report are Innovega, Inwith Corp., Mojo Vision, Sony, Samsung, Verily Life Sciences, Sensimed AG, Medella Health, Alcon, Ocumetrics Bionic Lens and more in terms of market share by sales, revenue, average pricing, product type, margins, recent developments etc.
Segment by Type
- Augmented Reality Contact Lens
- Virtual Reality Contact Lens
In 2019, Augmented Reality Contact Lens accounted for a major share of 87% in the global Augmented and Virtual Reality Contact Lens market. And this product segment is poised to reach 24 M USD by 2025 from 9 M USD in 2019.
Segment by Application
- Medical Field
- Military Applications
Table of Content:
1 Augmented and Virtual Reality Contact Lens Market Overview
2 Augmented and Virtual Reality Contact Lens Market Competition by Manufacturers
3 Augmented and Virtual Reality Contact Lens Retrospective Market Scenario by Region
4 Global Augmented and Virtual Reality Contact Lens Historic Market Analysis by Type
5 Global Augmented and Virtual Reality Contact Lens Historic Market Analysis by Application
6 Key Companies Profiled
7 Augmented and Virtual Reality Contact Lens Manufacturing Cost Analysis
8 Marketing Channel, Distributors and Customers
9 Augmented and Virtual Reality Contact Lens Market Dynamics
10 Global Augmented and Virtual Reality Contact Lens Market Forecast
11 Research Finding and Conclusion
12 Methodology and Data Source
Company Name: The Market Reports
Contact Person: Shirish Gupta
Peter Barzilai is a high school pitcher and college rower turned longtime World News journalist. Peter has also written for Buzz Feed and Huffington Post and many other major publications, Peter Loves everything about sports and loves to write on trending topics and he is DailyFactsNTrends member since 2017.