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Key Facts
Meta Platforms CEO Mark Zuckerberg forecasts that smart glasses could begin to replace smartphones within the next 15 years. Currently, Meta leads the smart glasses market, achieving over 60% market share with its Ray-Ban Meta AI glasses. The overall smart glasses market tripled last year and is expected to grow by over 60% annually through 2029, as per Counterpoint Research.
Recently, Meta reported Q2 earnings of $47.5 billion, a 22% increase from the previous year, with net income rising to $7.14 per diluted share, which is a 38% year-on-year growth. Additionally, Wall Street projects Meta’s earnings to grow by 17% annually over the next three years, supporting its valuation of 29 times earnings.
Meta’s upcoming Orion augmented reality glasses will feature overlays of digital content in the physical world, controlled by eye movements and an EMG wristband. However, despite the optimism around smart glasses, there are mixed opinions about their potential to fully replace smartphones.
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