LONDON (dpa-AFX) - The market for smart glasses is growing faster than expected, according to analysts at HSBC.
Experts have raised their future value for the industry to $200 billion by the year 2040. This change comes after the early success of smart glasses created by EssilorLuxottica and Meta.
Analysts predict a huge jump in popularity for these gadgets. They expect the number of people using smart glasses to grow from 15 million in 2025 to 289 million by 2035 a massive 1,800 percent increase.
Because of this bright future, HSBC upgraded EssilorLuxottica's stock to a 'buy' rating, causing its share price to rise nearly 3 percent.
To keep up with high demand, the company is already looking into doubling its production of the popular Ray-Ban Meta frames by the end of this year. While Meta currently holds a strong lead in the market, the competition is about to heat up.
Major tech companies like Apple, Samsung, and Amazon are expected to launch their own smart glasses in 2026 or 2027. Experts believe this extra competition will lead to better technology and more choices for customers.
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