XGIMI(SH:688696) Guo Ji Jin Rong Bao·2026-01-08 13:24Core Insights - The smart glasses industry is expected to transition from a niche market to a mainstream one by 2025, with significant growth in market size and product penetration [1] - Global smart glasses sales are projected to surge by 350.82% year-on-year to 13.448 million units in 2025, with the Chinese market seeing a 159.76% increase to 3.286 million units [2] - The introduction of eSIM technology is anticipated to enhance the functionality of smart glasses, allowing them to operate independently from smartphones [7][8] Market Trends - The CES 2026 showcased smart glasses as a focal point, with 38 exhibition booths dedicated to this category, highlighting the growing interest and competition in the market [4] - Lightweight design has become a core competitive factor, with several companies unveiling ultra-light models, such as Rokid's 38.5g AI glasses and MoJie's 25g AR glasses [5][6] - The integration of eSIM technology is seen as a pivotal development, enabling smart glasses to function as independent communication devices, similar to smartwatches [8] Industry Challenges - The smart glasses industry faces challenges in achieving product differentiation, maintaining lightweight designs, and effectively utilizing AI technology to establish themselves as independent smart devices [3][10] - The competition is expected to shift from a chaotic phase to a more structured one, focusing on quality, technology, and ecosystem capabilities [9] - Key challenges include balancing power consumption, size, and functionality, as well as establishing a robust application ecosystem that creates indispensable use cases for smart glasses [10]