Augmented and virtual reality contact lens are devices that could provide a virtual display that could have a variety of uses from assisting the visually impaired to video Military Applications. The device will have the form of a conventional contact lens with added bionics technology in the form of augmented reality, with functional electronic circuits and infrared lights to create a virtual display allowing the viewer to see a computer-generated display superimposed on the world outside.
By 2019, the products of Innovega and Inwith Corp are expected to enter the stage of commercialization.The key factors driving the growth of the aforementioned industry are product’s high technology content and practical. With the breakthrough of technology and depression of application scope, the increased consumption of smart contact lenses are expected to continue during the remaining years of the forecast period of 2019-2025.

As for the application field, the research direction of companies or research institutes are mainly concentrated in the medical and military fields. With the development of technology and the decrease of cost, it is expected to be popularized in the field of consumer electronics. Technological giants such as Apple, Google and Sony are pushing the market forward through investment or technology development.

Market Analysis and Insights: Global Augmented and Virtual Reality Contact Lens Market
The global Augmented and Virtual Reality Contact Lens market is valued at US$ 13 million in 2019. The market size will reach US$ 39 million by the end of 2026, growing at a CAGR of 17.2% during 2021-2026.

Global Augmented and Virtual Reality Contact Lens Scope and Market Size
Augmented and Virtual Reality Contact Lens market is segmented by Type, and by Application. Players, stakeholders, and other participants in the global Augmented and Virtual Reality Contact Lens market will be able to gain the upper hand as they use the report as a powerful resource. The segmental analysis focuses on sales, revenue and forecast by Type and by Application for the period 2016-2027.

Segment by Type
Augmented Reality Contact Lens
Virtual Reality Contact Lens
In 2019, Augmented Reality Contact Lens accounted for a major share of 87% in the global Augmented and Virtual Reality Contact Lens market. And this product segment is poised to reach 24 M USD by 2025 from 9 M USD in 2019.

Segment by Application
Medical Field
Military Applications
Entertainment
Other

By Company
Innovega
Inwith Corp.
Mojo Vision
Sony
Samsung
Verily Life Sciences
Sensimed AG
Medella Health
Alcon
Ocumetrics Bionic Lens

By Region
North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Russia
Asia-Pacific
China
Japan
South Korea
India
Australia
Taiwan
Indonesia
Thailand
Malaysia
Philippines
Vietnam
Latin America
Mexico
Brazil
Argentina
Middle East & Africa
Turkey
Saudi Arabia