Global Luxury Eyewear Market 2019-2023 | Increasing Cases of Vision Disorder to Promote Growth | Technavio

Technavio has released a new market research report on the global luxury eyewear market for the period 2019-2023. (Graphic: Business Wire)

LONDON--()--The global luxury eyewear market is expected to post a CAGR of over 6% during the period 2019-2023, according to the latest market research report by Technavio.

Factors such as the growing levels of pollution and unhealthy and undernutritious diet of people across the globe lead to various health issues, including vision disorder. This has increased the demand for vision correction devices such as prescription lenses. Major users of sunglasses are aged between 15 and 49 years; however, the use of sunglasses by consumers above the age of 50 is gradually growing. Moreover, the introduction of new prescription sunglasses has led to the elimination of different pairs of prescription eyewear and sunglasses.

As per Technavio, the utility of eyewear as a fashion product will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global luxury eyewear market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.

This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing

Global luxury eyewear market: Utility of eyewear as a fashion product

Luxury eyewear manufacturers and designers are developing eyeglasses and sunglasses in new styles, shapes, sizes, colors, and structural orientation. The improvisation of product development and product innovation is enabling the consumers to choose products depending on the occasion and need, such as office wear, casual wear, party wear, and beachwear.

“Prescription sunglasses are becoming popular among consumers as many of them maintain two pairs of glasses for daily use, one pair of regular prescription eyeglasses and another as prescription sunglasses. Primary targets for the fashionable luxury sunglasses are the teenagers and consumers in their early 20s as these sunglasses add to the style statement. Women have also become economically independent, and hence can afford the premium and luxury sunglasses,” says a senior analyst at Technavio.

Global luxury eyewear market: Segmentation analysis

This market research report segments the global luxury eyewear market by product (eyeglasses and sunglasses) and geographical regions (North America, Europe, APAC, South America, and MEA).

The eyeglasses segment held the largest market share in 2018, accounting for over 68% of the market. This product segment is expected to dominate the global market throughout the forecast period.

North America led the market in 2018 with a market share of over 40%. This region is expected to dominate the market through 2023.

Looking for more information on this market? Request a free sample report

Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.

Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team at media@technavio.com.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
www.technavio.com

Release Summary

The global luxury eyewear market is expected to post a CAGR of over 6% during 2019-2023, according to the market research report by Technavio.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
www.technavio.com