As the COVID-19 pandemic still appears to us globally, our technological landscape has grown exponentially, aiding the adoption of new safety standards by consumers. From contactless healthcare to life-enhancing virtual tools, researchers have made great strides in the development of augmented reality (RA) smart glasses.
Science fiction movies have long played with the idea of portable technology, but since then we have come a long way, the future is here. Currently, companies like Google Inc. (NASDAQ: GOOG), Facebook Inc. (NASDAQ: FB), Medtronic PLC. (NYSE: MDT), Microsoft Corporation (NASDAQ: MSFT) i SNAP Inc. (NYSE: SNAP) offer or are developing cutting-edge RA options for consumers and professional workers.
Vuzix® Corp. (NASDAQ: VUZI), a provider of smart glasses and AR technology products with 210 patents and pending patents, as well as numerous IP licenses in the field of video glasses, allows users to combine their real-world presence with augmented reality. The company recorded record sales of smart glasses in 2020 and record quarterly sales of smart glasses in the first quarter of 2021 with annual growth of more than 150%.
Investors have noted the company’s recent success and Vuzix has seen its share price more than triple since mid-December.
The reason is simple: AR technology enhances industry capabilities and consumer experiences, especially when pandemic-related social distancing demands immediate solutions.
The world and today’s virtual reality
As offices become more virtual, organizations are rapidly adopting the use of smart glasses as a way to adapt. For example, Vuzix offers solutions in various industries such as healthcare, which allows surgeons to collaborate remotely on appropriate medical treatments through real-time video and audio, reducing exposure to COVID-19.
Vuzix smart glasses are used in places like the University of Louisville School of Medicine, the ICU of Johns Hopkins Hospital, the surgical departments of the hospitals of Barcelona, Spain, Ohana One International Surgical Aid and Education , University of Rochester Medical Center, Specialist University of Malaya Center (UMSC), Taiwan Chi-Mei Medical Center and Istanbul University Faculty of Dentistry.
Vuzix smart glasses facilitate remote connectivity through extensive support from popular video conferencing platforms such as Zoom, Microsoft Teams, Cisco Webex, Zoom, Skype for Business, and Verizon BlueJeans.
Voice in 2021
Earlier this year, the company hosted an online roundtable “Solving Post-Pandemic Challenges with Enterprise AR” with Medtronic (NYSE: MDT), a world leader in medical technology solutions, and TeamViewer, a leading provider of remote access software. takeaways critical for successful augmented reality deployment for business customers.
In addition, Medtronic provided a first-hand critical customer perspective on the global use of Vuzix smart glasses paired with TeamViewer Frontline, along with some best practices for deploying RA projects in a large enterprise.
TeamViewer also shared its software perspective and explained how it partnered with Vuzix to enable a scalable solution for Medtronic and share cross-curricular learning.
Corporate highlights
Recently, the company has been headlines for its many breakthroughs and announcements, such as:
- Vuzix participated in the market expansion to support the NextAR surgical AR platform developed by Medacta International, one of the world’s largest suppliers of innovative orthopedic products that focus on healthcare sustainability.
- John Deere (Deere & Company) (NYSE: DE), a world leader in providing advanced products, technology and services to customers, deployed Vuzix M400 smart glasses in Brazil through local distributor Vuzix Totalpower.
- Customers such as Rods & Cones, Pixee Medical, Ohana One, 1 Minuut and Medtronic reported success with smart glasses in the telemedicine segment.
- Smart glasses were adopted in other sectors of the industry, such as construction, durable goods, consumer commodities, energy, food processing, manufacturing, raw materials, retail, telecommunications and utilities. Examples of customers in some of these segments include Plug Power (NASDAQ: PLUG), KDDI (OTCMKTS: KDDIY), Cooper Companies (NYSE: COO), and Verizon (NYSE: VZ).
- The company expanded OEM commitments to the aerospace / defense and medical market and with Jade Bird Display, a leader in Shanghai-based microLED displays.
- The company announced in June that it has joined the Russell 3000 high-market index following the annual reconstitution of the 2021 Russell Indices.
For more information, visit the company’s website.
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