Chinese augmented reality company Xreal has unveiled its latest AR glasses, the Air 2 Ultra, aimed at the developer community to lower barriers to entry into spatial computing and fostering a more vibrant AR ecosystem.

According to the latest data from the international data firm IDC, Xreal maintained its industry-leading position in the first quarter of 2024, achieving a global market share of 58 percent in the extended reality, or XR category, which primarily includes split-design glasses.

XR technology is an umbrella category that covers various forms of computer-altered reality, including AR and virtual reality.

Xu Chi, founder and CEO of Xreal, which is backed by investors such as Alibaba Group Holding Ltd and Hillhouse Capital, mentioned earlier that the AR sector has yet to experience its "iPhone moment," signifying a pivotal point poised for explosive growth, but progress has been made.

According to market research company Counterpoint, the shipments of AR smart glasses increased by 64 percent year-on-year in 2023. It is expected that in 2024, more AR smart glasses will be commercialized, bringing richer experiences to outdoor applications and life assistance scenarios, Counterpoint said.