Vuzix Corporation (NASDAQ: VUZI) has set out to grab the lion’s share of the $30 billion enterprise augmented reality (AR) hardware market. To nail it, the company is creating next-generation display systems targeting the enterprise AR industry.
Currently hot from Vuzix Corporation (NASDAQ: VUZI) are the M300 smartglasses that the company has just begun shipping to VIP partners. The company began VIP rollout of M300 glass in 2Q and it will continue with the shipping this quarter as the company inches closer to volume production.
Vuzix Corporation (NASDAQ: VUZI)’s VIP program is an invitation-only arrangement that allow select developers to get early experience of a new product. According to Vuzix, the VIP arrangement also enables the VIP partners to hit the ground running when the new product finally enters volume product.
Vuzix expects to begin mass production of the M300 glass later this year and those who have got the opportunity to be in the VIP program should enjoy a smoother rollout of M300-based products.
In the case of M300, Vuzix said that two of the VIP partners are NTT DoCoMo and NS Solutions Corporation. According to Vuzix’s CEO, Paul J. Travers, the VIP partners involved in M300 are those who are ready to bring the new experience to their customers.
The market opportunity for Vuzix Corporation (NASDAQ: VUZI)
According to Gartner, an explosion is expected in the VR/AR headsets market in the coming years. The firm estimates that some 40 million VR gears will be sold globally by 2020.
It is the rapidly expanding market for AR and VR devices that is driving Vuzix Corporation (NASDAQ: VUZI) to innovate to take advantage of the anticipated benefits in the enterprise AR market. The market of enterprise AR gears is expected to hit $30 billion. The M300 million is currently Vuzix’s lead offering in the enterprise AR market and its successful should pave the way for the company to hit repeated success in the future.