銀河證券:技術進步推動市場需求 AR眼鏡向“下一計算終端”邁進
銀河證券研報稱,技術進步推動市場需求,AR眼鏡向“下一計算終端”邁進:通過技術突破+生態整合+市場下沉,AR眼鏡廠商正在推動AR眼鏡從“小眾極客玩具”邁向“大眾智能終端”。2025年一季度,全球AR銷量為11.2萬台,與去年同期基本持平;受益於Ray Ban Meta的銷量大幅提升,全球AI智能眼鏡銷量60萬台,同比增長達216%。從我國市場來看,2025年第一季度我國AR設備的銷量達9.1萬台,同比大幅增長116%;AI眼鏡全渠道銷量(含AI+AR)達7.1萬副,同比激增193%。雖然AR眼鏡在成本、續航、生態和用户習慣等方面仍存在關鍵挑戰,但是隨着AI+AR技術的成熟,智能眼鏡有望成為繼智能手機後的下一代主流計算終端,帶動整個產業鏈(芯片、光學、傳感器、代工等)進入高速增長期。
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