Flexpoint Sensor Systems are primarily known for creating custom flexible sensors called ‘Bend Sensors’ for use in products such as data gloves. The company has recently announced that it has received a record purchase order volume from virtual reality (VR) and augmented reality (AR) market and has used this to comment upon how VR and AR have impacted commerce.
Flexpoint has received orders for more than 150,000 sensors and associated kits and accessories from companies around the world. The large volume of orders is expected to contribute to the 500% increase in revenue growth that Flexpoint has experience this year, a demand which is expected to continue into 2018 and beyond. Flexpoint says it has seen the growth of the VR and AR markets, with the emergence of high-end VR technology such as the Oculus Rift, HTC Vive and Sony PlayStation VR as a significant contributor towards its own growth as a company.
Paul Sexauer, Flexpoint VP Sales & Marketing, said: “You will be hard pressed to find an industry or market segment anywhere around the world that does not embrace the value of VR/AR in one form or another. With our differentiated Bend Sensor technology, industry experience and strong market focus, we are very pleased to be so uniquely well positioned to grow with it. Our development partners/customers are leading the way to market adoption of these life changing technologies. It is very exciting to be a key part of it!”
The growth and adoption of VR and AR by the business-to-business sub-sector is seen by Flexpoint as something that more businesses should pay attention to, as they identify three use cases that are driving the growth of VR and AR. Namely, the ability for customers to use VR to view a product without needing to leave home, VR and AR use in training and education and the difference that being able to ‘experience’ a product or location instead of seeing a static image.
VRFocus will continue to report on developments within the VR and AR industry.