AR smart glasses global shipments expected to grow 98% year over year in 2025

Growth exploded in H2 2025, with shipments up 148% year over year, driven by:
> Rokid Glasses mass production
> Meta Ray-Ban Display launch
> New products from RayNeo, XREAL, VITURE, Even Realities, INMO, Alibaba, and Meizu
The biggest shift is toward waveguide-based AR glasses, which grew more than 600% year over year. Their market share expanded from 13% in H2 2024 to 38% in H2 2025
Video-centric AR glasses remain highly concentrated. RayNeo, XREAL, and VITURE controlled 96% of the market in H2 2025
The waveguide market is more competitive, with Rokid, Meta, Even Realities, INMO, Alibaba, and Meizu fighting for share. These products are moving toward real-world AR + AI use cases like translation, navigation, voice guidance, image recognition, Q&A, and payments
Around 70% of waveguide-based AR glasses shipments in H2 2025 were AI glasses, with AI processors, microphones, speakers, cameras, and wireless connectivity
Growth should continue as OEMs expand globally, new players enter the market, and display and optical components improve. The main risks are rising memory prices, geopolitical tensions, and macro pressure