NEW YORK, June 2, 2016 /PRNewswire/ --
New disruptive technology is often a crucial driver of our
economy. A new gadget can change an industry, or create a whole new
market. According to industry research reports, the virtual
and augmented reality is the future, and the market is seeing
strong interest by the largest technology companies. Vuzix
(NASDAQ: VUZI), Alphabet Inc. (NASDAQ: GOOG),
Facebook Inc. (NASDAQ: FB), Microsoft Corporation
(NASDAQ: MSFT), Intel Corporation (NASDAQ: INTC)
To understand why analysts are so excited about the potential
growth of this market, A Goldman Sachs report explained that there
are, "nine areas in which virtual and augmented reality can be
used, ranging from video games to retail. While video games make up
the largest portion, everything from health care to real estate
could experience disruption." The Analyst continues to stand strong
behind the fact that in 2016 we will see the most significant
progress on VR/AR ever.
A report by CCS Insight shows that Augmented and Virtual Reality
devices will soon become a $4
billion-plus business in 3 Years and that more than 24
million devices will be sold in 2018.
There are some problems however that this market will have to
overcome. VR and AR should not be compared to smartphones and
tablets, which went through an extremely fast adoption rate. VR and
AR devices are expensive and can't be used with the same comfort as
smartphones and tablets. VR and AR devices are used at home or
work, and the true value of the technology is revealing itself
overtime. Meaning as prices from manufacturing costs shrink, the
volume surges alongside the increasing popularity.
The industry learned a lot from the disappointment of
Alphabet Inc. (NASDAQ: GOOG) Glass, which despite its
futuristic ambitions was an expensive and not a very useful gadget.
Since then Google has moved to focusing on software, providing
cardboard VR headsets which can be used with smartphones. Some tech
companies took it upon themselves to create a counter product, to
prove that the concept of smart wearable glasses can actually be
efficient. Vuzix Corp. (NASDAQ: VUZI) for example
sells Virtual and Augmented Reality products in the consumer,
industrial, commercial, academic and medical markets. This small
but growing company won 20 Consumer Electronics Show Innovations
awards, including four for CES 2015.
Vuzix in early 2015 received a $24.8Million Investment directly from Intel
Corporation (NASDAQ: INTC). The company describes one of its
most popular products, the M100 Smart Glasses as devices which
provide, "professional video eyewear that runs Android in the
glasses." These devices are currently focused on the enterprise
business markets and are being used by numerous Fortune 500
companies in diverse areas including warehousing and logistics,
field service, remote maintenance, retail and medicine. For the
entertainment seekers, Vuzix has the iWear Video Headphones, a VR
headset, which designed to provide the user with immersive HD video
and gaming experience for $499.99.
In the same token for gaming, expectations from Facebook
Inc. (NASDAQ: FB) Oculus Rift VR headset are
also very high. The device started deliveries two months ago, and
despite delays due to, "unexpected component shortage" the headset
is forecasted to be a hit, with shipments of over 2 million units
this year, according to International Data Corporation. There has
been a decent amount of content available online to be used with
the headset. The Oculus Rift costs $599.
Microsoft Corp. (NASDAQ: MSFT) went for a
different direction. The HoloLens is the most expensive headset of
the bunch, $3000 a unit, and is more
AR then VR. Microsoft describes the headset as a "holographic
computer, enabling you to interact with high definition holograms
in your world." The purpose of such an expensive headset more
entrepreneurial and industrial. For example, Microsoft is exploring
opportunities to transform the architecture process with the
HoloLens. The augmented reality will enable get a sense of scale,
form, and space to easily visualize ideas and make decisions based
on visuals.
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