Financial analysts are predicting rapid growth of the smart glasses market, with one global eyewear giant predicted to potentially double or even triple manufacturing over the coming years.
Analysts at HSBC Holdings Plc are picking the market to be worth US$200 billion by 2040.
The estimates are based on the early success of glasses made by EssilorLuxottica, which has partnered with Meta Platforms Inc.
The HSBC analysts predict a jump of more than 1,800% in smart glasses wearers to 289 million people around the world by the end of the next decade, up from 15 million in 2025.
Of that surge, analyst Anne-Laure Bismuth wrote: “The more competition, the more likely this market will gain critical mass and attract R&D efforts to the benefit of all players.”
Meanwhile, Bloomberg is reporting that EssilorLuxottica and Meta are considering doubling production of their AI-powered smart glasses by the end of 2026 as demand surges.
In its Q3 investor call in October, EssilorLuxottica said that its smart glasses business was doing “exceptionally well” and it was accelerating the timeline for the jump in capacity from two million units annually to 10 million.
Now, Bloomberg reports that Meta and EssilorLuxottica are discussing doubling this production target to 20 million annual units, with the possibility of tripling it to 30 million if future demand continues to rise.
