(1) As an important landing scenario of end-side AI, the popularity of AI smart glasses continues to heat up, and the industry speculates that 2025 may be the first year of AI glasses.

(2) From the end of 2024 to 2025, a number of new smart glasses will be released soon, and industry chain manufacturers may benefit from product volume.

(3) The analysis believes that in the future, the AI glasses industry will move towards a new stage of brand differentiation and differentiated competition, and mobile phone manufacturers and technology giants are expected to seize market opportunities.

Finance Associated Press, December 29 (Reporter Lu Tingting) The development of AI is in full swing, and its landing trend on the end side has also emerged. At the same time, some popular products have been sold out in pre-sales, and the number of downloads of related applications has skyrocketed.

With the continuous advancement of underlying technologies such as large models and computers, the application form of AI is also innovating and developing, and smart glasses are gradually becoming an important carrier of AI hardware. There is widespread speculation in the industry that 2025 is expected to be the first year of AI glasses. In this context, manufacturers such as product foundry, glasses and lenses, and parts supply chain will benefit, and the reporter of the Financial Associated Press as an investor from Lianlong (300596. SZ) Securities Department learned that driven by the demand for AI glasses, the company's FCCL product orders have increased significantly since June and July.

However, at present, the AI smart glasses on the market tend to be homogeneous, and the functions are concentrated in taking photos and videos, audio playback, large model assistants, etc. Rao Lijie, an AI industry analyst at the Toubao Research Institute, said in an interview with a reporter from the Financial Associated Press that with the intensification of market competition and the progress of AI technology, the AI glasses industry will move towards a new stage of brand differentiation and differentiated competition, while continuously expanding application scenarios and tending to form a unified business model.

The "Battle of 100 Mirrors" began

"The glasses have become one of the first scenarios for the implementation of device-side AI, mainly because of the combination of their unique hardware characteristics and multimodal AI functions." Rao Lijie mentioned that the current technology has supported the integration of multimodal AI functions such as vision, hearing, and touch in glasses, so as to achieve more natural and intuitive interaction. Smart glasses can use the camera to capture images, microphones to recognize voice, and combine AR technology to present a virtual and real fusion experience to meet the diverse needs of users, which is an ideal form of personal AI agent.

Entering the second half of 2024, the popularity of AI smart glasses continues to heat up, and the wave of new product releases is coming.

In November, Rokid, a representative of domestic AR companies, launched Rokid Glasses, a collection of multimodal AI large models, and Baidu released the world's first native AI glasses equipped with Chinese large models - "Xiaodu AI Glasses", which will be launched in the first half of 2025. On December 19th, Shanji Technology officially released its first AI glasses, with an initial price of 999 yuan. According to market news, many companies such as Thunderbird Innovation, Xiaomi, Huawei, ByteDance, Meta, Samsung, and Meizu will release smart glasses products from the end of 2024 to 2025.

"A number of manufacturers have released smart glasses products in a centralized manner, reflecting the significant potential and attractiveness of the smart glasses market." Rao Lijie told the Financial Associated Press reporter that the smart glasses market will show diversification, high competitiveness and rapid development in the future.

2025 may be an important time node for the volume of AI glasses products. According to wellsennXR's forecast, starting in 2025, AI smart glasses will rapidly penetrate into traditional glasses in the context of stable growth in sales of traditional glasses. By 2035, sales of AI smart glasses are expected to reach 1.4 billion pairs.

It is worth noting that the market response of smart glasses with the blessing of AI is quite enthusiastic. Shanji Technology said that the pre-sale of the AI photographic co-creation version was only 24 hours, and the total of 50,000 machines it originally planned to schedule before the Spring Festival have been fully sold out. Goldman Sachs analyst Jack McFerran pointed out in the latest report that the number of downloads of Meta's smart glasses-related apps has exploded. SensorTower's app download data shows that downloads of MetaView's companion app surged by more than 200% year-on-year in October.

Lotu Technology predicts that by 2025, the sales penetration rate of AI functions in the smart glasses market will exceed 60%.

Concept stocks welcome intensive research by institutions

With the explosion of AI glasses, Emdoor Information (001314.SZ), Bose Glasses (300622.SZ), Qixin Group (002301.SZ), BIWIN Storage (688525.SH), Digital Government Communication (300075.SZ), Jiahe Intelligence (300793.SZ) and other related concept stocks have also ushered in intensive institutional research, and some companies have received as many as 45 institutions so far in December. The stock price has also continued to rise, for example, Dr. Glasses, which has cooperated with brands such as Meizu, Thunderbird, XREAL, Jiehuan, Li Weike, Rokid, etc., has risen by more than 372% from July 18 to December 27; Yuntian Lifei-U (688343.SH), which jointly created AI smart glasses with Shanji Technology and others, has a stock price of 126% so far since September 13.

A number of listed companies in the industrial chain revealed the progress of the AI glasses business to the reporter of the Financial Associated Press. Tianjian shares (301383.SZ) securities department staff said, "At present, smart glasses related products are still in the process of research and development, some products are already in the trial production stage, when to achieve mass production is still uncertain, but we expect that there will be shipments in the first half of next year." ”

Raytheon Technology (872190.BJ) will announce its entry into a new category of smart glasses at CES in January next year, releasing products involving three different technical principles for the first time.

Emdoor recently released the AI glasses full-link solution SW3010. It is reported that the glasses weigh about 45 grams, are equipped with a Snapdragon AR1 Gen1 chip, and are equipped with a 12MP ultra-wide-angle camera and a 5MIC array, supporting Always on's multi-modal AI interaction. A person from the securities department of Emdoor Information told a reporter from the Financial Associated Press who called as an investor that AI glasses currently have orders, and they have not reached the mass production stage in the stage of sample optimization. As for when the shipment will be available, the person said, "It depends on the customer's schedule and plan".

The staff of the securities department of Lianlong said that the Korean company acquired by the company has double-layer FCCL products that are used in AI glasses, and the specific amount of single machine and which customer is using it is not clear. FCCL is a relatively small component, and the amount of single machine is not particularly large, but it is true that the order volume of this product has increased significantly this year.

When asked by the reporter whether it was driven by the demand for AI glasses, the staff member replied, "We understand that yes, because since June and July, this order volume has increased significantly, and that time happened to be a peak period for AI glasses."

In the context of the continuous launch of new products by AI smart glasses manufacturers, parts supply chain companies such as Pengding Holdings (002938.SZ) and Changying Precision (300115.SZ) may benefit from product volume.

Who will be the first to break through?

The AI smart glasses industry chain involves optics, chips, displays, structural parts, microphones, cameras, etc.

At present, including mobile phone manufacturers, glasses manufacturers and manufacturers of consumer electronics themselves are willing to do AI glasses, but at present, the field is still in the development trend, and there are types of products on the market that specialize in audio, with cameras, display and AR functions, etc., there are certain similarities, and many manufacturers are still waiting to see which type of products are more suitable for creating differentiated performance.

At present, there are still pain points in the development of the AI glasses industry. Rao Lijie mentioned that first, the technical threshold is relatively high, which requires enterprises to carry out in-depth research and development in optical modules, micro displays, perception interaction and main control chips; Second, the current user demand and acceptance are low.

The difficulty at the product level lies in the basic trade-offs in terms of weight, cost, performance, and battery life. The above-mentioned foundry company said frankly that AI glasses involve a lot of parts, and it has a battery, which is difficult to overcome in terms of weight, and there are fewer products entering the market at present, and some manufacturers may also be waiting for technical iterations.

"In the future, mobile phone manufacturers, technology giants and start-ups in the field of smart glasses are expected to seize market opportunities." Rao Lijie believes that mobile phone manufacturers such as Samsung, Huawei, and Xiaomi, after the success of the smartphone market, are extending their experience and technology to the field of smart glasses, and have strong intelligent hardware integration capabilities. Secondly, technology giants are expected to occupy a leading position in the smart glasses market with their deep technology accumulation in the fields of AI, AR and VR. In addition, start-ups focusing on the field of smart glasses, such as Yingmu Technology and Rokid, have the advantage of accurately grasping user needs and creating products that meet user expectations by virtue of their deep understanding of the industry.

According to the industrial chain research of Guojin Securities, there are at least 50 teams in China making AI glasses, and overseas manufacturers such as Apple, Microsoft, Meta, Google, OpenAI, and Amazon are also actively deploying.

"With the influx of numerous tech giants, the competition in the smart glasses market is expected to become more intense. This has led to rapid advances in technology and competition in terms of product features, user experience, and pricing strategies. At the same time, it will also promote the gradual optimization of the smart glasses supply chain and bring a positive impact to enterprises related to the industrial chain. Rao Lijie said. Collection

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