高盛看漲！中國AI/AR眼鏡市場持續擴張，下一個科技風口已至？

國際投資銀行高盛近期發布針對中國AI/AR產業的研究報告，上調對中國AI/AR眼鏡市場的預期。報告數據顯示，2026-2027年中國AI/AR眼鏡出貨量同比增幅將分別達87%與121%；市場規模方面，2026年預計同比增長132%至9.46億美元，2027-2030年複合年增長率為24%，2030年市場規模將攀升至30億美元。

AI/AR眼鏡的市場潛力源於其核心優勢——支持第一視角拍攝、免手持通訊及AI交互，為用戶構建連接數位世界的新路徑。該類產品既降低了第一人稱拍攝門檻，亦透過AI輔助與增強現實的直接交互界面，提升現實世界的互動性。

一、產品功能與核心價值
當前AI/AR眼鏡的核心AI功能涵蓋即時字幕、即時翻譯、視覺問答、AR導航及AI智能助手。其免手持人機交互設計可適配多元日常生活場景，被業內視為潛在的智能手機繼任者。第一視角體驗可同步用戶視野，實現內容眼前顯示、聲音耳邊傳遞及場景即時分享，社交屬性突出；免手持設計使其自然融入視線，適配行走、騎行等移動場景；功能覆蓋導航、拍攝、遊戲、會議協作等領域，兼顧個人生活、娛樂與辦公效率需求。

二、技術規格升級趨勢
感知能力方面，通過增加攝影機數量提升動作捕捉與環境探測精度；AI性能上，升級基礎模型以強化智能輔助功能的響應速度與準確性；顯示效果聚焦全彩、高解析度顯示屏應用，優化強光與弱光環境下的可視性；便攜性優化則以減輕機身重量（當前主流產品重量35-80克）、延長佩戴時長為核心目標。
顯示技術領域，LCOS（成熟低成本、高亮度）、Micro OLED（色彩表現優異）、Micro LED（高亮度、低功耗，成本較高）為當前主流方案，全彩Micro LED被視為終極發展方向；光學方案正從傳統鳥浴式向波導過渡，2027年有望推出更輕薄、耐高溫的碳化矽基波導方案；晶片方案以定制化系統級晶片優化音視頻低功耗處理，部分品牌搭配專用音頻晶片提升能效。

三、成本結構與供應鏈
AI眼鏡成本結構中，系統級晶片占比35%-40%，結構件占10%-15%，感測器/記憶體、聲學組件各占5%-10%，電池占3%，包裝占2%-3%，代工/設計占10%，其他成本占0%-10%；AR眼鏡成本以顯示屏（30%-35%）、系統級晶片模組（20%-25%）、光學組件（15%-20%）為核心，感測器占5%-10%，電池占1%-2%。
高盛報告提及的核心供應鏈企業包括：攝影機領域的舜宇光學；顯示屏領域的友達光電、京東方、HIMX；結構件領域的領益智造、長盈精密；聲學/電池領域的歌爾股份、瑞聲科技、TDK；晶片領域的高通、瑞昱。

四、使用場景與目標用戶
生活娛樂場景涵蓋第一視角拍攝（記錄生活場景）、AR導航（步行/騎行）、沉浸式遊戲（隨視線聯動、無運動模糊）、消息通知（文本/語音即時回覆）；辦公效率場景包括會議記錄與總結、即時翻譯、演示文稿腳本顯示、虛擬工作台（連接電腦實現多屏操作）、視覺問答（查詢眼前物體信息）。憑藉輕量化設計，設備可適配家庭、辦公、戶外、交通工具內等多場景，尤其適用於運動、烹飪、育兒等雙手忙碌的場景。
核心目標群體之一為眼鏡佩戴人群，2020年數據顯示中國近視人群達6.6億，該群體具備天然佩戴習慣；另一核心群體為新技術嘗鮮者，中國消費者對無人機、機器人、VR設備等新技術接受度較高，願意嘗試創新科技產品。

Goldman Sachs Bullish! China’s AI/AR Glasses Market Continues to Expand, Is the Next Tech Boom Arriving?
Global investment bank Goldman Sachs recently released a research report on China’s AI/AR industry, raising its expectations for the Chinese AI/AR glasses market. According to the report, year-on-year shipment growth for AI/AR glasses in China is projected to reach 87% and 121% in 2026 and 2027, respectively. In terms of market size, 2026 is expected to see a 132% year-on-year increase to $946 million, with a compound annual growth rate of 24% from 2027 to 2030, pushing the market size to $3 billion by 2030.

The market potential of AI/AR glasses stems from their core advantages—support for first-person perspective (POV) recording, hands-free communication, and AI interaction—which create new pathways for users to connect with the digital world. These products lower the barrier to first-person filming while enhancing real-world interactivity through AI-assisted, direct augmented reality interfaces.

1. Product Functions and Core Value
   Current core AI functions of AI/AR glasses include real-time subtitles, instant translation, visual Q&A, AR navigation, and AI assistants. Their hands-free human-computer interaction design adapts to diverse daily life scenarios, positioning them as potential successors to smartphones. The first-person perspective synchronizes with the user’s field of view, enabling content display, audio transmission, and instant scene sharing with strong social attributes. The hands-free design integrates naturally into the user’s line of sight, suitable for mobile scenarios like walking and cycling. Functions span navigation, photography, gaming, and meeting collaboration, addressing personal life, entertainment, and office efficiency needs.
2. Technological Specification Trends
   In sensing capabilities, increasing the number of cameras enhances motion capture and environmental detection accuracy. For AI performance, upgrading foundational models improves response speed and accuracy of intelligent assistance. Display focus is on full-color, high-resolution screens, optimizing visibility in both bright and low-light conditions. Portability improvements center on reducing device weight (current mainstream products range from 35–80 grams) and extending wearing time.
   In display technology, LCOS (mature, low-cost, high-brightness), Micro OLED (excellent color performance), and Micro LED (high brightness, low power consumption, higher cost) are the mainstream solutions, with full-color Micro LED seen as the ultimate direction. Optical solutions are transitioning from traditional Birdbath to Waveguide, with thinner, high-temperature-resistant silicon carbide-based waveguide solutions expected by 2027. Chip solutions focus on customized SoCs for low-power audio-video processing, with some brands incorporating dedicated audio chips for improved energy efficiency.
3. Cost Structure and Supply Chain
   In AI glasses, SoCs account for 35%–40% of costs, structural components 10%–15%, sensors/memory and acoustic components 5%–10% each, batteries 3%, packaging 2%–3%, OEM/ODM 10%, and other costs 0%–10%. For AR glasses, displays (30%–35%), SoC modules (20%–25%), and optical components (15%–20%) are core costs, with sensors at 5%–10% and batteries at 1%–2%.
   Key supply chain companies mentioned in the Goldman Sachs report include: camera maker Sunny Optical; display manufacturers AUO, BOE, and HIMX; structural component suppliers Lingyi iTech and Changying Precision; acoustic/battery suppliers Goertek, AAC Technologies, and TDK; and chip suppliers Qualcomm and Realtek.
4. Usage Scenarios and Target Users
   Lifestyle and entertainment scenarios include first-person perspective recording (documenting life moments), AR navigation (walking/cycling), immersive gaming (eye-tracking联动, no motion blur), and message notifications (instant text/voice replies). Office efficiency scenarios cover meeting minutes and summaries, real-time translation, presentation script display, virtual workstations (multi-screen operation via computer connection), and visual Q&A (querying information about objects in view). With lightweight design, the devices adapt to multiple scenarios such as home, office, outdoors, and inside vehicles, particularly suited for situations where hands are occupied, like sports, cooking, and childcare.
   One core target group is eyeglass wearers—with 660 million myopia cases in China as of 2020, this group has a natural habit of wearing glasses. Another core group consists of early technology adopters, as Chinese consumers show high acceptance of new technologies like drones, robots, and VR devices and are willing to try innovative tech products.