金吾财讯 | 招银国际表示，2024年，全球AI智能眼镜出货量同比增长588%达到234万副，归因于RayBanMeta在第四季度强劲销售（环比增长183%至136万副）。展望2025年，AI智能眼镜市场将继续保持强劲增长势头，预计同比增长135%达到550万台，受益于Meta/小米/字节跳动/雷鸟/Rokid强大产品发布。随着越来越多的玩家扩展到AI智能眼镜产品，该行预计BOM成本将逐渐下降，未来几年AI眼镜中更多杀手级应用将变得流行。
总体而言，该行认为供应链将受益于蓬勃发展的AI智能眼镜周期，包括小米(01810)/TCL(01070)作为主流IoT品牌厂商，舜宇光学(02382)/丘钛科技(01478)因其光学业务，瑞声科技(02018)因其扬声器/MEMS麦克风业务，立讯精密作为原始设备制造商和京东方/TCL用于显示。
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