Vuzix

Manufacturer of Virtual and Augmented Reality Glasses and Wearable Displays.
End Market(s):  Energy & Industrials, Healthcare, Education & Training, General Business Services & Productivity
URL:  http://www.vuzix.com/

Company Type:  Platform Developer

Coverage & Analysis from the Information Feed:

Summary:  Vuzix Corporation is a leading developer and supplier of smart glasses and video eyewear products in the consumer, enterprise, and industrial markets. The company’s products include personal display devices that offer users a high quality portable viewing experience. These mobile devices provide solutions for wearable displays, as well as virtual and augmented reality. Vuzix holds over 41 patents and 10 additional patents pending.

The company’s wearable display products are known commercially as Smart Glasses, Video iWear (Eyewear), head mounted displays, or HMDs. The products are capable of providing virtual, large high-resolution screens and yet they can fit in a user’s pocket or purse and can be viewed practically anywhere, anytime. Vuzix devices can also be used for virtual and augmented reality applications, in which the wearer is either immersed in a computer generated world or has their real world view augmented with computer generated information. The products are designed to work with mobile electronic devices, including cell phones, laptop computers, tablets, and portable media players and gaming systems.

The company’s M100 Smart Glasses 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.

Leadership:

Investors:

  • Vuzix is a public company listed on the Nasdaq Stock Exchange (VUZI)
  • In January 2015, Vuzix received a $24.8 million investment from Intel Corporation to be used as general working capital to accelerate the  introduction of Vuzix next generation fashion-based wearable display products into the consumer market
  • As of January 2016, the founding management team and Intel Corporation collectively own 40% of the company

Product / Service Offerings:

Vuzix offers a number of products.

M100 Smart Glasses – an Android-based wearable computer, enhanced with a wearable monocular display and onboard processor, recording features and wireless connectivity capabilities designed for a wide variety of enterprise applications. Its pre-installed apps can be used to take still pictures, record and playback video, track timed events, link to your phone, and more. The real strength of the M100 comes from its compatibility with thousands of existing Android apps, and easy access to developer resources which enable the creation of custom apps to suit virtually any need. Ergonomic yet rugged, the M100 is currently in large scale productive use in fields such as telemedicine, remote assistance, warehousing, utilities, manufacturing, and more.

The glasses have a partner application for both Android and iOS smartphones, enabling remote control of the M100 and access to its settings, integrated gesture recognition, power management for battery performance, an updated software development kit for the company’s development community, and more. The company has a number of native productivity applications and access to an App store where third party applications can be downloaded.

iWear Video Headphones – the iWear is a high-end pair of video headphones, providing users with a mobile wearable video display and gaming solution featuring dual high-definition displays. The iWear has a field of view equivalent to a 125” home theater screen viewed from 10 feet away. It supports HDMI inputs, allowing users to hook up to their existing 3D Blu-ray player, tablet, console system, PC, and even mobile phones.

The iWear is the an advanced mobile entertainment display for the consumer market. It is capable of displaying 2D and 3D video and advanced interactive Virtual Reality and 3D titles.

Customers:  Vuzix products and applications are used by customers across a range of industries:

  • General Business Apps – Vuzix Solutions Partners develop apps for the M100 Smart Glasses that are used for business and enterprise to enhance manufacturing productivity, improve logistics, assist field technicians, support training, advance tele-medicine diagnostics, and empower customers
  • Manufacturing – With Vuzix Solutions Partners’ software and systems, smart glasses are used to enhance the manufacturing process. Smart glasses provide faster ramp-ups, improved quality and productivity, by providing relevant information, confirmations, and documentation directly to the workers’ eyes.
  • Quality Assurance – Vuzix smart glasses enable information quality and modeling, documentation activities, quality gains and control loops, paperless documentation and more
  • Telemedicine – Vuzix enables onsite clinicians to connect with remote providers anywhere with partners enabling streaming quality video/audio through smart glasses and tablets
  • Utility / Field Service – a Vuzix smart glasses and partners can improve field service by empowering field technicians to diagnose and resolve mechanical problems with online data and manuals, as well as remote assistance from senior/expert colleagues

Competitors: AtheerOsterhout Design Group, Six15 Technologies