London, 7 July 2015: Technavio, the independent tech-focused global research firm, has published a report on the global eyewear market 2015-2019, which is expected to grow at a CAGR of 7.19% in terms of revenue and 3.54% in terms of volume during the forecast period of 2014-2019.
Changing lifestyle of consumers and the introduction of new designs are the major factors that drive growth in this market. Additional factors such as introduction of premium eyeglasses and sunglasses, and high demand for branded eyewear are expected to drive the market positively during the forecast period. Increasing consumer awareness pertaining to the harmful effects of UV radiations is expected to augment the prospects of growth on this market.
“Vendors in the eyewear market are increasingly adopting product bundling strategies, where two or more services or products are grouped together to achieve product differentiation and attract consumers. Consumers prefer such packaged offerings as they are more cost effective,” says Faisal Ghaus, Vice President of Technavio.
“Vendors such as Hawkins Optical bundle frames along with prescription and non-prescription lenses at prices lower than if the two products were bought separately.”
Key Market Drivers:
- High Prevalence of Eyesight Disorders.
- Increasing Demand for Discretionary Eyewear.
- Introduction of Technologically Advanced Eyewear.
- Increase in Aging Population.
- Rising Disposable Incomes and Changing Lifestyles.
Key Market Trends:
- Increasing Use of Eyewear as Fashion Statement.
- Increasing Demand in Emerging Markets.
- Use of Product Bundling Strategy.
- Increase in Awareness Programs.
- Rapid Growth of Internet Retailing.
- Rise in Demand for Premium Eyewear.
Key Market Vendors:
- Alcon Inc.
- Bausch & Lomb Inc.
- Carl Zeiss AG
- Essilor International
- Johnson & Johnson
- Luxottica Group
- Safilo Group
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges, and trends featuring data on product segmentations, vendor shares, growth rate by revenue, and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
