Looking Up: The Future Of Eyewear Is Shining Bright

The global eyewear market is expected to reach $172 billion in 2028 — up from $115 billion in 2021

• Prescription eyeglasses, sunglasses, and contact lenses
• Specialized eyewear categories:
  • Sports
  • Gaming
  • Fashion
  • Safety glasses
• Roughly 126 million Americans wear eyeglasses
• Average cost of eyeglass frames: $240
• Average cost of a pair of single-vision lenses: $126
• Average cost of eye exam: $210
• Total national average cost: $576

• Consumer shopping habits have changed:
  • Then: One pair of eyeglasses bought every 3 years
  • Now: Multiple pairs purchased per year
• Eyewear providers are:
  • Following fashion trends to drive revenue
  • Creating eyewear to address medical conditions, such as migraine glasses for light sensitivity
  • Developing a better online buying experience
• COVID-19 impacted customer needs:
  • Corrective eyewear accounted for 55% of total market volume in 2020, due to increased use of mobile phones and computers
  • Rise in computer vision syndrome caused by excessive blue light exposure — among both adults and children — created need for blue light-filtering glasses Light-adaptive contact lenses, which help reduce dryness and irritation, grew in popularity
  • Electronic focusing glasses were brought to market, though still too expensive for average consumer

Savvy consumers are choosing to replace just their lenses, rather than purchasing a new pair of glasses

• Benefits of replacing lenses:
  • Less expensive than buying a new pair of glasses
  • Keep your favorite frames
  • No need to alter personal style or appearance with a new pair of glasses /li>
• Types of lenses:
  • Single-vision
    • For individuals who are near-sighted or far-sighted but not both
  • Lined bifocals
    • For both near-sighted and far-sighted individuals
    • Blend two different prescriptions in one lens
  • Progressive bifocals
    • For both near-sighted and far-sighted individuals
    • Less disconnection between the reading and distance section
  • Trifocals
    • For individuals who need three focal distances: near, intermediate, and distance
• How to replace lenses:
  • 1. Obtain a new prescription
  • 2. Select the type of lens
  • 3. Select lens material
  • 4. Choose a protective lens coating
  • 5. Mail in your frames

Advancements in technology and materials have allowed eyewear providers to offer various protective lens coatings

• Ultraviolet (UV) Protective Coating
  • Blocks UV rays from harming the eyes using an invisible dye
• Scratch-Resistant Coating
  • Prevents distracting scratches by coating the front and back of the glasses
• Anti-Fog Coating
  • Helps reduce condensation in a warm room or when you’re breathing heavily
• Anti-Reflective Coating
  • Eliminates light reflections from the front and back surfaces of the lenses for individuals who often drive at night or are sensitive to bright lights

For individuals who’d like their glasses to do more than correct vision challenges, eyewear technology will soon deliver advanced features

• Monocular smart glasses
  • Head-mounted displays have an optical engine located in one of the lenses
  • Augmented information is located outside of the line of sight to minimize distraction
  • May be used by a surgeon to track patient vitals
  • Devices on the market: Google Glass, Vuzix M300, Optivent’s Ora-2, and Lumus Sleek
• Binocular smart glasses
  • Two transparent displays give users stereoscopic vision, allowing them to augment a large part of their view
  • Augmented information is located outside of the line of sight to minimize distraction
  • Lack 3D depth sensors, but use on-board camera and IMU sensors to support sense of orientation and position
  • Best for overlaying basic 2D and 3D graphics
  • May be used by an engineer fixing an oil rig in the field while receiving instructions from an office-based worker; helps communicate which valves need fixing and how
  • Devices on the market: Epson Moverio, ODG R-9, and Sony SED-E1
• Audio augmented reality glasses
  • Combine information collected from attached motion sensors with GPS information obtained from a smartphone
  • Small speakers deliver sound directly to the wearer’s ear
  • Bose glasses were used to create an immersive experience by informing Coachella attendees of upcoming shows
  • Devices on the market: Bose Frames Soprano and Bose Frames Tenor
• Immersive or mixed reality smart glasses
  • Inclusive standalone systems allow wearers to render 3D objects on board 3D depth sensors naturally overlay computer-generated objects
  • Devices on the market: Microsoft HoloLens, ODG-9 smart glasses
• Mixed reality photo projection action
  • Projects photos directly into the user’s eyes to enlarge the field of view
  • Ability to naturally shift focus
  • Devices on the market: Magic Leap 2, Meta + Ray Stories Wayfarer

No matter your vision needs — today or tomorrow — eyewear doesn’t have to be expensive; replace your lenses, but keep your frames

Direct from the factory, Lens Factory

• https://www.fortunebusinessinsights.com/industry-reports/eyewear-market-101749 https://retail-insider.com/articles/2021/02/eyewear-market-size-and-trends/ https://www.urdesignmag.com/lifestyle/2021/03/09/eyeglass-lens-replacement-a-better-alternati ve-to-buying-new-eyeglasses/
• https://lensfactory.com/collections/trifocal
• https://www.myopiainstitute.com/eye-care/types-of-eyeglass-lens-coatings/ https://smartglasseshub.com/types-of-smart-glasses/
• https://www.bose.com/en_us/products/frames.html
• https://www.latimes.com/business/lazarus/la-fi-lazarus-why-are-eyeglasses-so-expensive-20190 122-story.html
• https://www.universityhealthplans.com/custom/VSP_NtlAvgCost.html?20180425