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Augmented & Virtual Reality Contact Lens Market: By Lens, By Application - Forecast (2018-2023)

The increasing number of AR/VR applications and the rapid improvements in technology is striving to turn smart contact lenses into reality at some stage.

HYDERABAD, TELANGANA, INDIA, September 12, 2018 / -- A lot of people use contact lenses today, in order to avoid inconveniences caused by glasses. Companies that currently invest in augmented reality and virtual reality wearable’s are in the process of creating prototype contact lenses that would allow a person to see and interact with virtual objects as if they were real. The smart contact lenses would require sensors that would wirelessly connect to a mobile phone, which would then charge the lens and help in functioning.

AR and VR wearable’s currently may consist of suits, glasses/headsets and gloves with sensors. Although, it is currently a speculative technology, there are several companies purchasing patents to produce these lenses so that these may be fitted in a person’s eyes. There is a challenge in the adoption of the technology. The process of inserting the lens would have to be such that it doesn’t fall off; again it needs to be resistant to liquid, such as sweat or tears of a human being who is using the device. Although there may be plenty of people who may opt for small contact lenses instead of heavy headsets/eyeglasses, the process of wearing and removing the device will have to be simplified, so that even children could remove them without help.

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The key issue that this technology has, is incorporating the components in a device of such a small size. One who wears the device must feel comfortable while using it and not have any trouble every time they have to remove it. These smart lenses will require power to remain functional, and there are questions on how they will be charged. Alternatively, one could wear a pendant that transmits energy to the lens to keep it charged, but this too comes under speculative technology. Users will also be concerned about the device’s effect on their health. Legal issues may also affect the adoption of the lenses, as companies that provide these devices to the public will receive usage data that could be used to track the users, which may make the public skeptical about privacy concerns.

The key driving force for augmented and virtual technology, is the increasing adoption of patents by big players, such as Google, Samsung, and Apple and so on. The increasing number of AR/VR applications and the rapid improvements in technology is striving to turn smart contact lenses into reality at some stage. Since big players have observed a market for the product (smart contact lens), there is a possibility for it to come true at some stage.

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There are possibilities that in the future, these lenses could be used for other purposes, such as helping in vision correction for individuals, and perhaps help the blind see in the future. Contact lenses could be useful in tracking individuals too, if they went missing. Besides, there are a lot of potential uses, such as measurement of health condition of the users. Another opportunity arises with the slow adoption of smart glasses in the market. Contact lenses may become the preferred medium if the number of applications rise, while the size of the lens doesn’t change.
There are a number of roadblocks for the AR and VR contact lens market. But if contact lenses can solve vision problems and eliminate the need for glasses/headsets, then the market is predicted to grow.

Augmented and Virtual Reality Contact Lenses Market is segmented as indicated below:
1. AR & VR Contact Lenses Market – By Lens
1.1. Introduction
1.2. Augmented Reality Lens
1.3. Virtual Reality Lens

2. AR & VR Contact Lenses Market – By Application
2.1. Introduction
2.1.1. Thermal Vision
2.1.2. Threat Detection/Locator
2.1.3. Simulation
2.1.4. Hybrid
2.1.5. Disease Detection
2.1.6. Surgery Training
2.1.7. Sport
2.1.8. Film
2.1.9. Concert & Event
2.1.10. Navigation
2.1.11. Others

3. AR & VR Contact Lenses Market – By End Users
3.1. Aerospace and Defense
3.2. Automotive
3.3. Gaming
3.4. Medicine
3.5. E-Commerce
3.6. Education
3.7. Retail
3.8. Entertainment
3.9. Travel and Tourism
3.10. Healthcare
3.11. Media and Entertainment
3.12. Others

4. AR & VR Contact Lenses Market – By Market Entropy
5. AR & VR Contact Lenses Market – By Geography

Companies Cited/Interviewed/Referenced
Sensimed AG
Medella Health
Inwith Corp. (Previously "EPGL Med")
Company 15+

Related Reports:

A. Augmented Reality Market for Gaming Industry

B. Augmented Reality and Virtual reality market for entertainment industry

What can you expect from the report?
The Augmented & Virtual Reality Contact Lens Market Report is Prepared with the Main Agenda to Cover the following 20 points:

1. Market Size by Product Categories
2. Market trends
3. Manufacturer Landscape
4. Distributor Landscape
5. Pricing Analysis
6. Top 10 End user Analysis
7. Product Benchmarking
8. Product Developments
9. Mergers & Acquisition Analysis
10. Patent Analysis
11. Demand Analysis ( By Revenue & Volume )
12. Country level Analysis (15+)
13. Competitor Analysis
14. Market Shares Analysis
15. Value Chain Analysis
16. Supply Chain Analysis
17. Strategic Analysis
18. Current & Future Market Landscape Analysis
19. Opportunity Analysis
20. Revenue and Volume Analysis

Frequently Asked Questions:

Q. Does IndustryARC publish country, or application based reports in Augmented & Virtual Reality Contact Lens Market?
Response: Yes, we do have separate reports and database as mentioned below:

1. North America Augmented & Virtual Reality Contact Lens Market (2018-2023)
2. South America Augmented & Virtual Reality Contact Lens Market (2018-2023)
3. Europe Augmented & Virtual Reality Contact Lens Market (2018-2023)
4. Asia Pacific Augmented & Virtual Reality Contact Lens Market (2018-2023)
5. Middle East and Africa Augmented & Virtual Reality Contact Lens Market (2018-2023)
6. Thermal Vision Augmented & Virtual Reality Contact Lens Market (2018-2023)
7. Education Market in Augmented & Virtual Reality Contact Lens Market (2018-2023)

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2. Increase the number of countries in geography or product chapter.
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