What is Spectacles Market?
Spectacles appliance consisting of a pair of ophthalmic lenses mounted in a frame or rimless mount, resting on the nose and held in place by sides extending towards or over the ears. They are customized to users' eyes and offer a wider viewing area than standard. The factors such as increasing disposable income of the people and advancements in the shape and color of spectacles are driving the global spectacles market.
The market study is being classified by Type (Spectacle Frames (Premium Spectacle Frames, Mass Spectacle Frames) and Spectacle Lenses) and major geographies with country level break-up.
Essilor International S.A. (France), Johnson & Johnson Vision (United States), CIBA VISION (United States), ZEISS International (Germany), HOYA Corporation (Japan), ZENNI OPTICAL, INC. (United States), Warby Parker (United States), Lenskart (India), Titan Company Limited (India) and MODO (United States) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are CooperVision (United States), Marchon Eyewear (United States), Fielmann AG (Germany) and Bausch & Lomb (United States).
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.The Vendors having a strong hold in the market are Essilor International S.A., Johnson & Johnson Vision, CIBA VISION, ZEISS International. Research Analyst at AMA predicts that United States Vendors will contribute to the maximum growth of Global Spectacles market throughout the predicted period.
Analyst at AMA have segmented the market study of Global Spectacles market by Type, Application and Region.
On the basis of geography, the market of Spectacles has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Asia-Pacific region held largest market share in the year 2019. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Increasing Disposable Income of the People in Developing Region
- Rising Demand for Spectacles due to Advancements in the Shape and Color of Spectacles
- Robust Increase in the Distribution Channels
- High Demand for Premium Spectacles
- Availability of Low-Quality Products in Cheaper Rates
- Fluctuations in the Raw Material Prices
- Increasing Investments in the Spectacles Market
- Growing Demand from End-users
- Changing Consumer Buying Behaviors
Market Leaders and some development strategies
Recently, In February 2020, Titan Company Ltd has announced that it has made an acquisition of a Hyderabad-based technology and wearables company, HUG Innovations. Following this strategic move, Titan is likely to get access to the huge base of consumers of HUG Innovations.
Key Target AudienceSpectacles Manufacturers, Potential Technology Investors, Regulatory & Government Bodies, Downstream Vendors, End Users and Other
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