Core Viewpoint - AI glasses are transitioning from smartphone accessories to independent smart terminals, driven by the integration of eSIM technology and multimodal AI capabilities, marking a significant shift in the industry towards standalone functionality [3][4]. Group 1: Industry Trends - The introduction of eSIM technology allows AI glasses to operate independently from smartphones, enabling functionalities such as calls, real-time AI conversations, and online streaming without needing a mobile connection [6]. - The global shipment of smart glasses is projected to see a 110% year-on-year increase in the first half of 2025, with AI glasses accounting for 78% of this growth [4][16]. - Major tech companies, including ByteDance and Alibaba, are accelerating their entry into the AI glasses market, with new products expected to launch soon [8][10]. Group 2: Product Innovations - Rayneo's X3 Pro Project eSIM, the first AI glasses with eSIM support, showcases the ability to function independently, enhancing user experience [6]. - Rokid's new AI smart glasses, Rokid Style, emphasize an open ecosystem, supporting various AI models and maintaining a lightweight design [6]. - ByteDance's "Doubao" AI glasses are set to enter the market with a focus on user-friendly features and competitive pricing [8]. Group 3: Market Dynamics - The market for AI glasses is expected to benefit from government policies, including subsidies for consumers purchasing smart glasses, which will stimulate demand [18]. - The report indicates that Meta holds a leading market share of 73% in the smart glasses sector, with a significant increase in the proportion of AI-enabled glasses [16].

智能眼镜正经历从手机配件向独立智能终端的关键跃迁，随着eSIM通信模块的集成与多模态AI技术的落地，这一品类开始实质性接管通话、联网 与复杂运算等手机核心功能。 据国泰海通证券刘越男团队12日发布的研报，在2026年CES（国际消费类电子产品展览会）上，英伟达CEO黄仁勋提出的"物理 AI"概念为行业定 调，标志着AI发展重心正从数字世界迈向能够理解并作用于物理世界的硬件深度融合阶段。 国泰海通证券表示，AI眼镜成为展示焦点。约23家相关参展商中，来自中国的企业占据16席，包括Rayneo（雷鸟创新）、Rokid、INMO（影目） 等品牌。其中，具备独立通信能力的智能眼镜首次亮相，打破了该品类长期依赖手机算力和网络的局限，推动行业向规模化应用加速迈进。 这一技术跨越叠加了强劲的市场增长与政策利好。根据Counterpoint咨询数据，2025年上半年全球智能眼镜出货量同比激增110%，其中AI眼镜占 比已升至78%。与此同时，智能眼镜2025年底首次被纳入"以旧换新"国补范围，预计将为2026年的市场销量带来显著增量。 摆脱手机束缚：独立终端形态确立 国泰海通证券表示，AI眼镜迈向独立终端的标志性事件，是雷鸟 ...