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Smart Glasses See 100% Annual Growth
16 Dec
Summary
- AI glasses market projected for over 100% annual growth until 2030.
- EssilorLuxottica's smart glasses contribute significantly to company growth.
- New smart glasses feature built-in displays and neural wristband control.
The market for AI-powered smart glasses is experiencing rapid expansion, with analysts predicting over 100% annual growth through 2030. EssilorLuxottica's collaboration with Meta on advanced smart eyewear is emerging as a critical growth engine for the luxury eyewear giant. These innovative glasses offer features such as music playback, photography, translation, and message previews, controlled via a neural wristband with hand gestures.
The company's latest quarterly report showed nearly 12% year-on-year growth, with wearables accounting for over four percentage points. Analysts have reiterated a buy rating, forecasting the AI glasses market to surpass 110 million units by 2030, generating approximately $40 billion in retail revenue. EssilorLuxottica is expected to maintain market leadership with a significant share.
Further driving market awareness, numerous tech companies, including Google, Snap, Samsung, and Apple, are set to launch their own AI smart glasses in the coming year. This increased competition is seen as beneficial for adoption, as consumers tend to favor familiar brands like EssilorLuxottica, which also manages popular brands such as Vogue Eyewear, Persol, Oakley, and Prada.
