Apple isn’t just looking to take on Meta in the smart glasses market; it’s looking to upend eyewear as a whole, according to Bloomberg’s Mark Gurman. When the Apple Watch launched, it wasn’t simply competing against the Pebbles and the Motorolas of the world. The company also had Swatch, Fossil, and Seiko in its crosshairs. Similarly, Apple’s smart glasses will be positioned not just against Meta and Samsung, but against Oakley, Ray-Ban, and Warby Parker in the $200-$500 range.
Apple Watch generates an estimated $17 billion annually, but eyewear is a potentially even bigger prize. Where the watch market is worth an estimated $132 billion, according to Mordor Intelligence, eyewear is estimated to generate between $180 and $200 billion annually.
Notably, though, Apple doesn’t plan to play at the highest ends of the market, leaving companies like Cartier and Matsudato to cater to luxury customers. The company tried to compete in the luxury watch market with the $10,000 gold Apple Watch, but it never made much of an impact. So this time around it seems Apple will focus on mainstream consumers.
The company believes its strong brand, industrial design and iPhone integration will lead people seeking new regular glasses to spring for an Apple pair instead. Apple’s existing ecosystem of over 2 billion active devices, its global retail footprint and the promise of artificial intelligence features that could help people interact with the world around them will help as well.