Changes in Hong Kong stocks | Connett Optics (02276) rose nearly 4%, major manufacturers scramble to lay out AI eyewear tracks, Citi is optimistic about the future development space of the industry

The Zhitong Finance App learned that Connett Optics (02276) rose nearly 4%. As of press release, it had risen 3.76% to HK$52.4, with a turnover of HK$10.6597 million.

According to the news, recently, with the official release of Quark's AI glasses, it marks Alibaba's official entry into the AI glasses circuit. Technology giants such as Huawei and Xiaomi have all previously completed their layout in this field, and market competition is becoming increasingly intense. According to IDC forecasts, global smart glasses shipments will exceed 236.87 million units by 2026; by 2029, this number is expected to exceed 40 million units. The market is expected to grow at a CAGR of 55.6% between 2024 and 2029, showing huge market potential.

Citi said that artificial intelligence glasses, whose technology is still developing, will become the next generation of rapidly growing artificial intelligence edge devices. The bank predicts that the shipment volume of artificial intelligence glasses in 2030 will be about 112 million pairs, with a compound annual growth rate of 105% starting in 2024; the market size in 2030 will be 40 billion US dollars, with a compound annual growth rate of 112% during the same period. According to the bank, optical components are essential for artificial intelligence or augmented reality (AR) glasses. They account for 40 to 70% of the material list, and prefer companies with high risk exposure or a heavy optical business in the supply chain.