3C设备周观点：智能眼镜首次入选国补范围，龙头积极布局智能眼镜赛道愈发火爆-20260104

Investment Rating - The industry rating is "Outperform the Market" [7] Core Insights - The smart glasses have been included in the national subsidy scope for the first time, with a subsidy standard of 15% of the selling price, capped at 500 yuan [2] - The smart glasses market is heating up, with global AI camera glasses sales expected to reach 14.5 million units by 2025, with a compound annual growth rate (CAGR) exceeding 50% from 2025 to 2029, potentially reaching 60 million units by 2029 [3] - Major players like Apple, Samsung, and Xiaomi are actively entering the smart glasses market, with significant sales growth reported for products like the Ray-Ban Meta series, which saw a year-on-year sales increase of over 200% [4] Summary by Sections National Subsidy Policy - The 2026 consumer goods national subsidy policy expands the subsidy range to include smart glasses for the first time, maintaining the same subsidy standard as 2025 [2] Market Growth Projections - The smart glasses market is projected to grow significantly, with sales expected to reach 14.5 million units globally by 2025 and 60 million units by 2029, indicating a robust growth trajectory [3] Competitive Landscape - The entry of major tech companies into the smart glasses sector is intensifying competition, with notable collaborations and product launches enhancing market dynamics [4] Investment Opportunities - Suggested companies to watch include those involved in foldable screens, smart glasses, silicon-based OLED screens, automation assembly and testing equipment, thermal management, and 3D printing applications [5]