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Smart glasses are gaining fans fast. Meta’s Wayfarer AI glasses have sold nearly 2.6 million units since their 2023 launch. Smart glasses have cameras, microphones, open ear speakers and other sensors to power an AI voice assistant to give directions, send messages, take photos/video, answer questions and more.
Meta and other tech companies see the devices as a new way to spur AI adoption and build a bridge to future augmented-reality glasses that are still years aways. Get users hooked on smart glasses and someday they’ll upgrade to a more advanced headset, the thinking goes.
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Even Apple wants to tap the nascent market, which is poised to grow at nearly 50% per year through 2029, according to market research firm IDC. The company wants to launch smart glasses by late 2026, according to a Bloomberg report, though delays are likely. Apple has struggled to find users for its high-end Vision Pro virtual reality headset, despite Apple’s advanced VR hardware and software. The company likely sees smart glasses as a market that is too good to pass up, since it will lead to future headsets.
Meta’s flashy marketing campaign with top celebrities donning its eyewear highlights the big bet on the market. Bloomberg recently reported that the company plowed another $3.5 billion into eyeglass maker EssilorLuxottica, owner of Ray-Ban and Oakley, to expand its partnership.
Expect many more models and styles in the next couple of years. Meta’s Ray-Ban glasses start at $299; prescription lenses cost extra. An Oakley sports edition is water resistant, with better battery life. A much pricier model, which shows digital info on the lens, could come by year-end. But it won’t be easy to add more tech without making the glasses too bulky for most buyers.
Other companies working on new smart glasses include Snap, Google, Samsung and China’s Xiaomi, promising strong competition and improved devices for years to come. Don’t be surprised if smart glasses continue to gain traction as everyday consumer devices.
This forecast first appeared in The Kiplinger Letter, which has been running since 1923 and is a collection of concise weekly forecasts on business and economic trends, as well as what to expect from Washington, to help you understand what’s coming up to make the most of your investments and your money. Subscribe to The Kiplinger Letter.