AI眼镜：AI端侧最佳落地场景之一

Investment Rating - The report maintains a "Buy" rating for the electronic industry [1] Core Insights - AI glasses are identified as one of the best landing scenarios for AI at the edge, with significant market potential as tech giants increasingly invest in this sector [1][6] - The report highlights the emergence of popular products, such as Ray-Ban Meta glasses, which have exceeded sales expectations, indicating a strong market demand [3][18] - The global market for prescription glasses is stable at approximately $80-90 billion, with a projected growth trajectory following the pandemic [7][13] Summary by Sections Section 1: Product Validation and Market Entry - The collaboration between Meta and Ray-Ban has led to the successful launch of AI glasses, with over 1 million units sold by Q2 2024 [3] - Major tech companies, including Apple, Google, and Samsung, are entering the AI glasses market, indicating a competitive landscape [6] Section 2: Market Demand and Growth Potential - Global sales of prescription glasses remain stable at around 700 million units annually, with a market size of approximately $150 billion [7][13] - The sunglasses market is also recovering post-pandemic, with sales expected to reach 1.04 billion units by 2035 and a market size nearing $25 billion in 2023 [10] Section 3: Collaborative Promotion Models - Partnerships between traditional eyewear manufacturers and tech companies are becoming more common, enhancing product development and market reach [18] - New joint ventures, such as the one between Raybird and Doctor, aim to leverage combined expertise in AI and eyewear [18] Section 4: Technological Maturity and Supply Chain - The technology for AI glasses is relatively mature, with a well-established supply chain supporting various components [21][24] - The report outlines the supply chain structure, including upstream hardware suppliers and downstream sales channels [24] Section 5: Future Product Launches and Sales Projections - The report anticipates continued product launches in the AI glasses sector, with sales expected to reach 55 million units by 2029 and 1.4 billion units by 2035 [33] - Recent product announcements from companies like Baidu and Looktech indicate a growing interest and innovation in the AI glasses market [34][37] Section 6: Investment Recommendations - The report suggests focusing on companies involved in ODM and OEM, SoC manufacturing, and component supply for potential investment opportunities [46]