AR and VR Technology Going Mainstream - Sector Snapshot; (NASDAQ: $VUZI) (NYSE: $SNAP) (NASDAQ: $AAXN) (NASDAQ: $LITE)
Point Roberts, WA and Delta, BC - March 18, 2019 (Investorideas.com Newswire) Investorideas.com, a global investor news source covering tech stocks, releases a snapshot looking at VR and AR stocks and future implications and applications for these technologies.
One of the first mainstream introductions of augmented reality began with Google Glass in 2013. Since then, AR and VR tech has been evolving rapidly beyond just 'hype', and mass adoption is in the very near future.
According to International Data Corporation (IDC), global spending on AR/VR is forecasted to reach $20.4 billion this year. This is a nearly 70% jump over 2018. Moreover, worldwide spending on AR/VR products is projected to grow at a compound annual growth rate (CAGR) of 70% through 2022.
Researchandmarkets recently reported on the sector, noting companies like Daqri, Vuzix and Optivent make AR headsets with a focus on enterprise applications for their devices.
Vuzix Corporation (NASDAQ: VUZI), a leading supplier of Smart Glasses and Augmented Reality (AR) technology and products holds 144 patents and patents pending and numerous IP licenses in the Video Eyewear field. According to the Company's December report, Vuzix has more than 16,000 smart glasses in the field.
In a recent 8K filing, Vuzix entered into a master reseller agreement with Verizon Sourcing LLC. Vuzix will sell to Verizon, Verizon affiliates and sub-resellers, the Company's smart glasses products including Vuzix M300XL Smart Glasses and M-Series related accessories, Vuzix Blade Smart Glasses and Vuzix Basics Video. The Company expects to start receiving purchase orders under the master reseller agreement in the second quarter of 2019.
Vuzix also has relationships with other tech leaders, announcing in late February the debut of Vuzix' next generation enterprise smart glasses, the M400, one of the first products made commercially available using the Qualcomm® Snapdragon™ XR1 platform.
Leading up to this next phase of growth, Vuzix also just reported it has been assessed and certified as meeting the requirements of ISO 9001:2015 for design and manufacture of wearable display technology, virtual reality and augmented reality products.
Snap Inc. (NYSE: SNAP) recently announced an AR collaboration with LEGO Wear to launch the latter's first limited-edition clothing line for adults. The clothing store opened its gates in Fitzrovia, London for one day only, however, to lure users and boost engagement level, augmented reality (AR) technology was used to transform the empty shop into a virtual boutique.
Upon scanning the Snapcode, Snapchat users got to experience a virtual shop on their smartphone, featuring an interactive DJ booth, LEGO bouncer, arcade machine and clothes displayed on LEGO mannequins. The move can be attributed to LEGO's decision to tap into "the sense of style and nostalgia" of millennials.
Axon (NASDAQ: AAXN), a leader in connected public safety technologies, is looking forward not only into the potential applications of these technologies, but also the implied ethics surrounding them. Axon recently announced the appointment of Mecole Jordan, Executive Director of United Congress of Community and Religious Organizations, Christy Lopez, Distinguished Visitor from Practice at Georgetown University Law Center, and Kathleen O'Toole, Former Seattle Police Chief and Boston Police Commissioner to Axon's AI and Policing Technology Ethics Board. Axon also announced that it will host implicit bias awareness training for developers on Axon's AI Research team on May 8th, in Seattle, WA. For more information on the AI and Policing Technology Ethics Board, visit: www.axon.com/ethics.
"It is great to see that Axon is committed to developing AI technology with attention to human biases," says Dr. Lorie Fridell, former Director of Research at the Police Executive Research Forum (PERF) and national expert on biased policing. "This is the first time we've worked with a technology company for internal bias training. With the implementation of its ethics advisory board, and now the anti-bias training, Axon is truly taking a leadership role when it comes to responsibly developing this technology."
Lumentum Holdings Inc. (NASDAQ: LITE), a market-leading designer and manufacturer of innovative optical and photonic products and Acacia Communications, Inc., a leading provider of high-speed coherent optical interconnect products have focused on a different factor affecting AR and VR tech: compatibility. The two jointly announced that they have successfully demonstrated interoperability between their respective CFP2-DCO modules operating at 200G.
CFP2-DCOs are becoming increasingly important for higher-speed optical networks because they integrate the coherent DSP into the pluggable module. The digital host interface enables simpler integration between module and system, resulting in faster service activation for telecommunication providers, and a pay-as-you-grow deployment model whereby the cost of additional ports can be deferred until additional services are needed.
With the massive improvements in these linked technologies, we aren't far from an augmented future; a merger between our physical and digital footprints. More large tech companies like Apple, Google and Verizon are betting on the future of AR/VR, even though the far-reaching implications of these technologies are still unknown.
Investorideas.com has created a directory of tech stocks, including VR and AR stocks for investors following the sector.
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