The augmented reality and smart tech wearable market is heating up as Google, Snap, and Meta have recently either unveiled products or announced partnerships to develop wearables and adding artificial intelligence (AI) to the mix.
Names like Google, Apple, and Samsung are at the forefront of the wearables category.
On Friday (Sept. 13), Google announced its partnership with medical technology company Masimo to develop a new reference platform aimed at enhancing the efficiency of original equipment manufacturers (OEMs) in producing Wear OS smartwatches. This platform will integrate Masimo’s advanced biosensing technologies and standardize smartwatch devices within the Wear OS ecosystem, which includes a range of health and wellness tracking tools.
Not to be outdone, Ray-Ban maker EssilorLuxottica this week announced a new long-term agreement with Meta Platforms, aimed at advancing smart eyewear technology. This partnership, which extends their collaboration into the next decade, pushes the boundaries of smart eyewear technology, building on the success of their previous Ray-Ban Meta glasses and setting the stage for future innovations in wearables.
Since their collaboration began in 2019, EssilorLuxottica and Meta have introduced two generations of Ray-Ban branded smart glasses, reshaping the landscape of wearable technology. By combining EssilorLuxottica’s expertise in eyewear with Meta’s technological advancements, the Ray-Ban Meta glasses have achieved mainstream success, with high demand in markets across the U.S., Canada, the U.K., Australia and several European countries.
“Over the past six decades, EssilorLuxottica has led the transformation of the eyewear and eyecare industry,” EssilorLuxottica Chairman and CEO Francesco Milleri said in a release. “Our work with Meta has already proven to be a significant milestone in our quest to make glasses the gateway to the connected world. We look forward to continuing to shape the future of this category together.”
Meta founder and CEO Mark Zuckerberg said of the ongoing collaboration, “I’m proud of the work we’ve done with EssilorLuxottica so far, and I’m excited about our long-term roadmap ahead. We have the opportunity to turn glasses into the next major technology platform and make it fashionable in the process.”
Meta is reportedly exploring the acquisition of a 5% stake in EssilorLuxottica, valued at approximately 4.5 billion euros ($4.9 billion). The two companies are partners on the Ray-Ban Meta smart glasses, which have surpassed sales forecasts and play a crucial role in Meta’s hardware strategy. Acquiring a stake in EssilorLuxottica would enable Meta to broaden its device portfolio, fortify its relationship with the well-regarded Ray-Ban brand and sustain ties with LensCrafters, which supplies prescription lenses for smart glasses.
The introduction of AI-powered eyewear from leading tech companies is poised to transform consumer shopping habits both online and in-store. Experts anticipate these glasses will offer immersive virtual shopping experiences, allow for real-time price comparisons and integrate digital catalogs directly into users’ vision. As retailers and brands race to adapt, this technology is set to blur the boundaries between digital and physical retail spaces.
One company that has been on the forefront of the wearables tech is Snap Inc., which this week unveiled the fifth generation of its Spectacles, standalone AR glasses designed to enhance real-world interactions through Snap OS, a new operating system. Weighing just 226 grams, these glasses feature four cameras for advanced hand tracking, a see-through AR display, and vibrant micro-projectors.
Spectacles can integrate with mobile devices via a new app, allowing features like game controls and Spectator Mode. Powered by dual Snapdragon processors, they offer up to 45 minutes of runtime. The new Snap OS facilitates natural interaction and developer-friendly tools, including a revamped Lens Studio and a partnership with OpenAI for advanced AI capabilities. Spectacles are available through the Spectacles Developer Program for $99 per month.
The Ray-Ban Meta glasses, too, now have AI capabilities.
A Meta spokesperson told PYMNTS, “Since we launched last year, we’ve continued to roll out new features and styles/colors. In the U.S. and Canada, we introduced new Meta AI capabilities to help you get things done, create, and connect with people and things you care about. We recently rolled out multimodal AI on the glasses so you’re able to ask the assistant what you’re looking at or a quick question while you’re on the go.”
Given the success of Ray-Ban Meta glasses in various international markets, the spokesperson noted EssilorLuxottica and Meta plan to address diverse consumer needs and preferences across different regions through voice commands and Meta AI that support several languages.
“Currently, you can use voice commands in English, French, and Italian and translate texts/signs from Spanish, Italian, French, and German to English,” the spokesperson added.
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