While consumer-focused companies are working to develop smart glasses, Microsoft (MSFT) and Vuzix (VUZI) is making great strides with complementary reality chapters for enterprise applications. These developments could pave the way for future AR glasses.
X
Pure-play AR headphone maker Vuzix has seen its inventory rise over the past few months after a spate of announcements and positive comments from analysts.
On March 2, Microsoft announced an augmented reality platform that mixes its HoloLens AR headset with its Azure cloud computing infrastructure for virtual meetings. The platform, called Microsoft Mesh, creates immersive experiences by integrating people, places and content into physical and digital worlds.
Meanwhile, rumors continue this appeal (AAPL), Facebook (FB), Alphabet‘s (GOOGL) Google and other competitors are developing AR smart glasses.
Smart glasses called ‘Paradigm Shift in Computing’
Augmented reality glasses are considered to be the next big computing platform for smartphones. Analysts say many of the capabilities of smartphones can switch to exhibits and equipment. This includes making and receiving phone calls and text messages, directions and other applications. More advanced AR glasses can overlap information about people and objects in a wearer’s field of view.
ABI Research estimates that the augmented reality market will exceed $ 140 billion by 2025. This includes hardware, software and headset services. The market today is mostly business focused. Last year, the microphone headset market generated less than $ 10 billion in revenue.
“In the future, this technology will be everywhere in the future,” Vuzix CEO Paul Travers told Investor’s Business Daily. “This paradigm shift in computers is going to affect the world in an incredible way.”
Pandemic leads to interest in augmented reality businesses
The Covid-19 pandemic has sparked interest in supplementary reality chapters for help and distance learning, Eric Abbruzzese, a research director at ABI Research, told IBD.
“Interest has skyrocketed,” he said.
With built-in cameras, AR headers can remotely see support staff who see a worker on the premises. On-site workers can get visual guidance from exhibits covered in the field of view or in their field of vision.
Major enterprise markets for AR headsets include medical, automotive, manufacturing, architecture, engineering and construction.
Abbruzzese says the main suppliers of enterprise chapters are Microsoft, RealWear and Vuzix.
To move from test phase to wider deployments
Businesses are starting to switch from the testing phase to broader implementation of the technology, he said. Abbruzzese delayed the implementation of the technology to be tailored to specific industries and individual enterprises.
Most businesses use augmented reality heads with monocular screens. These smart glasses provide a tin screen that employees can consult while repairing or maintaining equipment. It’s like ‘YouTube Mr. Fix-It videos on steroids’, said Matt Margolis, director of business development and strategic relations.
The next generation of smart glasses offer transparent screens that cover schemes and other data on a person’s field of vision. Vuzix plans to launch the next-generation smart glasses on the consumer later this year.
But Apple and others have also designed on the smart glasses market. They waited for improvements in battery and display technology before jumping into the market.
Apple Smart Glasses can combine device features
Apple is likely to consider smart glasses as a way to combine features of the Apple Watch smartwatch and AirPods wireless earbuds into one product, Abbruzzese said. The device can provide eye-catching notifications and telephony, as well as music control through voice or simple touches or gestures.
“If there is one company that can accelerate the market, it is Apple,” Abbruzzese said.
Until then, enterprise applications will dominate the augmented reality market, he said.
Investors’ interest is also piqued by the promise of smart glasses.
Microsoft, Vuzix makes waves in augmented reality
At its Ignite conference on March 2, Microsoft demonstrated that its HoloLens device is used in operations, industrial training, and remote collaboration. With the Mesh service, people can meet holographically with colleagues and communicate with 3D models and other content.
Half of the Fortune 500 businesses have purchased HoloLens 2 headsets, Alex Kipman, a technology partner at Microsoft, told Ignite. The headsets, which went on sale a year ago, start at $ 3,500.
HoloLens customers include Airbus, Lockheed Martin, Mercedes and Toyota, Kipman said.
Meanwhile, Vuzix shares have risen sharply since breaking out on December 15, according to IBD MarketSmith charts, at a buyout of 5.41. It peaked at 26.08 on March 2nd. ARK Invest and State Street have recently built up a significant amount in Vuzix shares.
Follow Patrick Seitz on Twitter @IBD_PSeitz for more stories on consumer technology, software and semiconductor supplies.
YOU MAY ALSO LIKE THIS:
Is Apple Stock a purchase before a possible March launch event in March?
Is Microsoft stock a buy as software real gains in market share?
Apple, Snap brings augmented reality to life in front of smart glasses
Find winning prizes with MarketSmith pattern recognition and custom screens
See shares on the list of leaders near a buyout