Augmented reality (AR) smartglasses company Vuzix have become one of the most recognisable names in the enterprise-level AR industry, providing a number of businesses with AR technology. The company has issues a letter to its shareholders which provides an overview of what Vuzix expects to achieve in the near future.
Some of they key points in the letter concern business developments for the near term and what can be expected to happen over the next year.
Vuzix expects that revenues for 2018 will exceed those from 2017, with a number of factors influencing this boost in revenue.
The letter notes that there are over 750 existing pilot schemes ongoing for the M300 smartglasses, with many others in the process if launching. Several existing customers have either already placed follow-on orders, or are expected to do so shortly.
Many present customers and VIP partners have already surpassed their order totals for the M300, with many more expected to surpass 2017 order totals by the middle of 2018. The broadening footprint of the M300 across the world is also fuelling sales, as it becomes certified in new regions, such as Eastern Europe, South American and Asia.
The level of interest in both the M300 and Vuzix Blade smartglasses is expected to rise thanks to the integration of Amazon and Oracle cloud-based analytics, which will give companies new data sources to use.
Vuzix are also anticipating new incoming revenue streams with the launch of the Vuzix Blade and the Toshiba AR100, along with an increasing number of OEM contracts and provision for engineering services.
A number of recent reports and studies have shown that AR is a growth area, with many analysts predicting that business and enterprise use of AR technology will only continue to rise over the coming months and years.
As usual, VRFocus will keep you update on new developments in the AR industry.