--- title: "Huafu Securities: Optimistic about the trend of the lens industry accelerating towards concentration at the top, AI empowerment is expected to add further volume and price driving force" type: "News" locale: "en" url: "https://longbridge.com/en/news/231623292.md" description: "Huafu Securities released a research report optimistic about the lens industry, predicting that demand for AI glasses will reach a turning point in 2025, and the industry will accelerate its concentration towards leading companies. It is recommended to pay attention to leading enterprises with core R&D capabilities and channel advantages, such as Mingyue Optical Lens, CONANT OPTICAL, and Doctor Glasses. The global eyewear market is expected to reach a scale of USD 104.082 billion in 2024 and USD 131.34 billion by 2029. The Chinese market is expected to reach approximately RMB 73.7 billion in 2024 and RMB 97 billion by 2029" datetime: "2025-03-13T02:55:18.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/231623292.md) - [en](https://longbridge.com/en/news/231623292.md) - [zh-HK](https://longbridge.com/zh-HK/news/231623292.md) generator: "portal-rs" --- # Huafu Securities: Optimistic about the trend of the lens industry accelerating towards concentration at the top, AI empowerment is expected to add further volume and price driving force According to the Zhitong Finance APP, Huafu Securities released a research report stating that under the trends of high refraction, functionalization, and intelligence in the lens industry, it is optimistic about the trend of accelerated concentration towards leading companies in the industry. It recommends selecting leading companies with core R&D capabilities, diverse product matrices, leading channel advantages, and a focus on developing independent brands. Additionally, AI empowerment is expected to add further volume and price driving force to the lens industry, with growing demand for AI lenses; smart glasses will raise the quality requirements for lenses, driving up the value of individual lenses. Recommended stocks include: Mingyue Optical Lens (301101.SZ), CONANT OPTICAL (02276), and Doctor Glasses (300622.SZ). Also, pay attention to Inpai Si (002899.SZ). ## The main points of Huafu Securities are as follows: **Lens Industry: Steady Growth in Scale, Gradual Release of Functional Demand** According to Euromonitor, the global eyewear market size is expected to be approximately USD 104.082 billion in 2024, a year-on-year increase of 5.1%, and is projected to reach USD 131.34 billion by 2029, with a CAGR of 4.8% from 2024 to 2029. In 2023, the global CR10 eyewear companies' market share (based on retail sales) was 44.8%, with Essilor leading with a 27.8% share, followed by Zeiss at 4.6% and Hoya at 4.5%. In China's lens industry: 1) Demand side: The market size of eyewear in China is expected to be approximately CNY 73.7 billion in 2024, a year-on-year increase of 7.6%, and is projected to reach CNY 97 billion by 2029, with a CAGR of 5.7% from 2024 to 2029. With consumers' increasing attention to vision protection, the demand for functional lenses such as myopia prevention, progressive, photochromic, and anti-blue light lenses is being released. 2) Supply side: China is a major producer and exporter of eyewear. According to Trade Map, in 2023, China's eyewear exports accounted for 58.6% of the global total, with a relatively low average export price. In terms of domestic sales, overseas leaders dominate the high-end market, while domestic brands stand out for their cost-effectiveness and lead in sales. According to Frost & Sullivan, in 2023, based on retail volume, the brand CR10 in China's lens market was approximately 54.7%, with Mingyue Optical Lens ranking first with a 12.4% share; based on factory output value, the brand CR10 was approximately 68.2%, with Zeiss (18%), Essilor (15%), Mingyue (9%), and Hoya (9%) leading. **Smart Glasses: A Blooming Entry into the AI New Vision, Demand Inflection Point Approaching** According to Weishen XR, global AI smart glasses sales are expected to reach 2.34 million units in 2024, with the majority of sales coming from RayBan Meta smart glasses, which are expected to achieve cumulative sales of 2.25 million units in 2024. Weishen predicts that AI smart glasses sales will reach 5.5 million units in 2025, driven mainly by the continued growth in sales of Ray Ban Meta and the launch of several new AI smart glasses products from major manufacturers such as Xiaomi and Samsung. The firm is optimistic that demand for AI glasses will reach an inflection point in 2025, driven by three factors: 1) Supply-side technological breakthroughs, with large models optimizing lightweight design, reducing production costs, and improving user experience; 2) Upgraded demand concepts, as consumers become accustomed to using smart wearable devices, and AI glasses offer advantages over XR devices in terms of being lightweight, portable, and having lower power consumption, along with being price-friendly, further enhancing the acceptance of AI glasses 3) Policy support and regulations: Recently, the National Information Center has launched special testing for AI glasses and standardized industry standards, which is expected to accelerate the realization of demand. **AI empowerment is expected to add new volume and price driving forces to the lens industry** Volume increase: China has a large base of myopic population, and the demand for AI lenses will increase the ratio of multiple pairs of glasses per person; for non-myopic individuals, specific scenario demands (business socializing/travel/sports, etc.) will drive the purchase of AI glasses, jointly boosting the demand for lenses. Price increase: Smart glasses impose higher quality requirements on lenses, which will drive up the value of individual lenses; at the same time, lenses account for a small proportion of the cost of smart glasses, which will provide certain support for the bargaining power of lens manufacturers with core technological advantages. **Risk factors:** Risks of intensified market competition, risks of stability in the supply of certain raw materials, the speed of penetration of defocus lenses, and the shipment volume of smart glasses falling short of expectations ### Related Stocks - [301101.CN](https://longbridge.com/en/quote/301101.CN.md) - [02276.HK](https://longbridge.com/en/quote/02276.HK.md) - [300622.CN](https://longbridge.com/en/quote/300622.CN.md) - [002899.CN](https://longbridge.com/en/quote/002899.CN.md) - [01810.HK](https://longbridge.com/en/quote/01810.HK.md) ## Related News & Research - [A mysterious free AI model is impressing developers. 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