Lenskart's AI Smart Glasses and India's Emerging Wearable Tech Ecosystem: A Deep Dive into Early-Stage Growth Opportunities

India's wearable technology market is on the cusp of a transformative phase, driven by a confluence of rising health consciousness, technological innovation, and government-led initiatives. According to a report by MarketsandMarkets, the India wearable technology market is projected to grow at a compound annual growth rate (CAGR) of 26.83% from 2025 to 2035, expanding from USD 5,301.52 million in 2025 to USD 57,108.0 million by 2035. This exponential growth is underpinned by the integration of wearable devices into healthcare, corporate wellness programs, and the proliferation of e-commerce platforms. Within this dynamic landscape, Lenskart's foray into AI-powered smart glasses-branded as "B by Lenskart"-emerges as a pivotal development, offering a compelling case for early-stage investment in India's AI-driven consumer hardware sector.

The Rise of AI-Driven Wearables in India

The wearable tech sector in India is no longer confined to fitness trackers and smartwatches. AI-powered devices, particularly smart glasses, are gaining traction as multi-functional tools for health, productivity, and everyday convenience. A 2025 report by Grand View Research highlights that the global AI-powered smart glasses market, valued at USD 1,347.2 million in 2024, is expected to reach USD 4,178.8 million by 2032, growing at a CAGR of 15.2%. In India, this trend is amplified by the adoption of AI in enterprise settings, such as logistics and healthcare, where real-time data visualization and hands-free operations are critical. Lenskart's entry into this space aligns with these macroeconomic shifts, positioning the company to capitalize on both consumer and enterprise demand.

Lenskart's Strategic Move: B by Lenskart Smart Glasses

Lenskart, a dominant player in India's eyewear market, is leveraging its omnichannel retail network and manufacturing capabilities to launch "B by Lenskart," AI-powered smart glasses designed for the Indian market. The device, set for a December 2025 launch, features Qualcomm's Snapdragon AR1 Gen 1 chipset, a Sony camera, and Google Gemini 2.5 Live AI assistant, enabling functionalities such as UPI payments, real-time language translation, and health monitoring. Weighing just 40 grams, the glasses are 20% lighter than comparable products, addressing a key consumer pain point of bulkiness in wearable tech.

Lenskart's approach extends beyond hardware. The company is fostering an ecosystem by inviting Indian developers to build third-party applications for the device, aiming to transform the glasses into a platform for everyday utility-ranging from food delivery to fitness tracking. This full-stack strategy, combining hardware, AI, and software development, mirrors the playbook of global tech giants like Apple and Meta but is tailored to India's unique consumer needs and price sensitivity.

Lenskart's competitive edge lies in its vertically integrated model, which allows it to design, manufacture, and sell products at 35–40% lower costs than industry averages. The company's recent IPO in October 2025, which raised ₹7,278 crore and valued it at approximately US$7.9 billion, underscores investor confidence in its growth trajectory. Post-IPO, Lenskart reported a 21% year-on-year increase in operating revenue to ₹2,096 crore in Q2 FY2026, with plans to expand its retail footprint by opening 450 new stores in India during FY2026.

While global eyewear giants like EssilorLuxottica and Warby Parker dominate with legacy scale, Lenskart's valuation is rooted in its high-growth potential. For instance, Warby Parker reported $214 million in Q2 2025 revenue with an EBITDA margin of 11.7%, whereas EssilorLuxottica's consolidated revenue for the first nine months of its fiscal year reached €6,867 million. Lenskart's focus on AI-driven innovation and its first-mover advantage in India's smart glasses market position it to disrupt the global wearable tech ecosystem.

Challenges and Risks

Despite its strategic strengths, Lenskart faces challenges. Early reviews of its Phonic smart glasses-a predecessor product-highlighted design flaws, such as uneven weight distribution and lack of durability, raising concerns about product quality and customer service. Additionally, the absence of post-launch adoption metrics for B by Lenskart as of December 2025 means the market's reception remains untested. However, the company's emphasis on developer partnerships and ecosystem-building could mitigate these risks by rapidly expanding the device's functionality and use cases.

Investment Thesis

India's wearable tech market is a high-growth, high-potential sector, and Lenskart's AI-powered smart glasses represent a strategic bet on the future of consumer hardware. With a CAGR of 26.83% projected for the broader market and a first-mover advantage in AI-driven eyewear, Lenskart is well-positioned to capture market share. Its vertically integrated model, cost efficiency, and ecosystem-driven approach align with the sector's trajectory, making it an attractive early-stage investment. However, investors must monitor product quality, customer satisfaction, and the pace of developer adoption to ensure long-term success.