Zhongtai: Expect a full-day application landing for AI smart glasses with volume ranging from 1-10

Zhongtai released a research report stating that the current development stage of the AI smart glasses track can be compared to the smart watch industry in 2014, and there is potential for future growth. The global shipment volume of smart glasses is expected to reach 1% of smart watches by 2023, with a large room for increased penetration. According to data compiled and forecasted by wellsennXR, the global annual sales volume of prescription glasses and sunglasses is close to 1.5 billion, and by 2032, it is expected to reach 1.8 billion pairs, providing a broad market for the growth of smart glasses. The estimated global/Chinese market size of smart glasses could reach 435/775 billion Yuan, with great potential for growth. AI smart glasses provide convenience for information acquisition and interaction, offering a more immersive interactive experience and are a high-potential carrier for future AI applications. The global smart glasses market size continued to grow from 18.26 billion USD in 2018 to 50.31 billion USD in 2021, with a CAGR of 28.84%; the market size is expected to come under pressure in 2021-2023, but is projected to resume growth in 2024 with the launch of new head-mounted devices like AppleVisionPro, and is expected to further accelerate growth from 2024 to 2028 as consumer application scenarios increase. Smart glasses industry chain analysis: the upstream industry chain mainly consists of hardware structure suppliers for AI smart glasses, such as optical modules, display modules, audio modules, sensor modules, interaction modules, power supplies, structural components, etc. The midstream industry chain includes ODM/OEM manufacturers, software/system manufacturers, and large AI model manufacturers involved in the software composition, system composition, solution development, and production of AI smart glasses. The downstream industry chain involves the sales and after-sales of AI smart glasses, including AI smart glasses brand manufacturers, traditional optometry channels, and consumer electronics channels. Unlike other wearable products, glasses require personalized optometry services and product adjustments, so traditional optometry channels will play a significant role and add value. Recommended stocks to watch: Impulse (Qingdao) Health Tech (002899.SZ), Doctorglasses Chain (300622.SZ), Mingyue Optical Lens (301101.SZ), CONANT OPTICAL (02276) Risk factors: risks of technology development falling short of expectations, supply chain risks, economic fluctuation risks, risks of regulatory and standard changes, risks of market size calculation deviations, etc.