By Lens- Segment Analysis
Augmented reality contact lens segment held the highest market share of augmented and virtual reality contact lens market in 2019. Moreover, it is anticipated to witness the significant market growth during the forecast period 2020-2025. Augmented reality technology is written in a special programming language that enables the creator to provide both embedded animation and visual knowledge in the computer program. AR implementations usually provide global positioning system ( GPS) for smartphone to find and track the user’s precise spot. Some of the AR software used in military instruction, which could involve identification of artefacts and identification of movements. Furthermore, there is also future applications of augmented reality in medical, navigation, education and others. Augmented reality will decrease the chance of operation by allowing the surgeon a clearer understanding of the senses. The system is used by medical students to perform surgery in a safe framework. Such equipment can be paired with MRI or X-ray devices so allows the physician to put it into a clear vision. GPS apps utilize augmented reality to promote moving from one level to another. The users see the chosen route over the live view of what is in front of the car using the phone’s camera in tandem with the GPS. When searched through an AR computer, teaching materials, picture books and other instructional reading content produce additional details for the student made in a visual context.
By End User type- Segment Analysis
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Geography – Segment Analysis
Drivers – Augmented and virtual reality contact lens market
Technological advancements
Challenges – Augmented and virtual reality contact lens market
High costs
Market Landscape
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Acquisitions/Technology Launches/Partnerships
- In January 2020, Mojo Vision reveals a smart contact lens with a tiny built-in display which allows to view images of augmented reality on a screen right in front of your eyeballs.
- In February 2017, WeChat parent Tencent invests $3 M in Innovega, a contact-lens company with increased reality. This investment enabled Innovega for developing a high-powered contact lens that adjusts the wearer’s vision to focus on objects extremely close to face. This high-powered lens also corrects vision like a normal contact lens and can be worn with or without AR glasses.
Key Takeaways
- Virtual and augmented reality offers a cost-effective and secure teaching and capability creation approach as it replicates the individual situations through the application of computers. For instance, using an actual airplane to train a pilot in civil aviation or in military applications is more costly. Consequently this feature tends to boost the market growth.
- APAC region is anticipated to dominate the global augmented and virtual reality contact lens market during the forecast period 2020-2025 owing to large number of population, growing needs among people, rising industrialization and others.
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Contact Information:
Venkat Reddy
Sales Director
Email: venkat@industryarc.com
Website: https://www.industryarc.com
Phone: (+1) 970-236-3677