Virtual and Augmented Reality Markets Expected to Show Strong Growth

NEW YORK, November 16, 2017 /PRNewswire/ --

According to a report published by International Data Corporation (IDC), forecasts worldwide revenues for the augmented reality and virtual reality (AR/VR) market to reach $13.9 billion in 2017, an increase of 130.5% over the $6.1 billion spent in 2016. AR/VR spending is expected to accelerate over the next several years, achieving a compound annual growth rate (CAGR) of 198.0% over the 2015-2020 forecast period and totaling $143.3 billion in 2020. The report also explains that the consumer market will be the largest AR/VR segment throughout the forecast period with worldwide spending on hardware, software, and services expected to reach $6.2 billion in 2017, an increase of 130.5% over 2016. Vuzix Corporation (NASDAQ: VUZI), Facebook Inc. (NASDAQ: FB), Alphabet Inc. (NASDAQ: GOOG), Intel Corporation (NASDAQ: INTC), Microsoft Corporation (NASDAQ: MSFT) 

"AR and VR headsets get most of the media attention right now, but the hardware is only as good as the software and services running on it," said Tom Mainelli, program vice president, Devices and AR/VR. "On the virtual reality side, producers are quickly moving beyond games to create new content mainstream audiences will embrace. And on the augmented reality side of the fence we're seeing commercial entities begin to more seriously evaluate the technology and begin to test the waters of app development."

Vuzix Corporation (NASDAQ: VUZI) has announced yesterday that, "HMS, a global organization with operations in 11 countries focused on industrial networking and remote management solutions will be demonstrating human machine interface (HMI) solutions on the Vuzix M300 Smart Glasses at the Rockwell Automation Fair taking place November 15-16, 2017 at the George R. Brown Convention Center in Houston, Texas.

HMS and Vuzix will be showcasing a hands-free solution running on the Vuzix M300 Smart Glasses as a companion device to leverage the HMS Anybus wireless module to operators and maintenance workers at the Rockwell Automation Fair. Operators and maintenance workers are already required to wear safety goggles and by using the Vuzix M300 users can utilize the high-resolution camera to record video of events and provide photo documentation of issues completed tasks completely hands-free.

HMS, which stands for Hardware Meets Software™ connects more than 4 million devices around the world and enable their customers to widen their market and improve their business.  HMS products, solutions and know-how enable industrial hardware to get connected to IoT software. As such, HMS enables the Industrial Internet of Things which is all about Connecting Devices™."

"From the first majority to the next man in we continue to see the shift in the industry IoT strategy to introduce proven hands-free mobile devices like the Vuzix M300 Smart Glasses to machine operators and maintenance workers to provide remote HMI access to equipment in the field," said Paul Boris, COO, Vuzix.

"We are excited that the Vuzix M300, a hands-free solution to deliver human machine interface and remote management solutions to operators and maintenance workers was selected by HMS to be introduced to potential customers at the Rockwell Automation Fair," said Paul Travers, CEO and President, Vuzix. "With over 3 million connected devices around the world HMS provides Vuzix new opportunities to expand our mobile workers and field maintenance customer base."

Facebook Inc. (NASDAQ: FB) mission is to give people the power to share and make the world more open and connected. In 2014, the company announced that it has reached a definitive agreement to acquire Oculus VR, Inc., the leader in immersive virtual reality technology, for a total of approximately $2 billion. On October 11, 2017, Oculus announced its newest and most affordable VR headset, called Oculus Go. The standalone device will ship in early 2018 starting at $199. The company offered a sneak peek into Oculus Venues, a new experience coming next year that lets people watch live concerts, sports, and movie premieres with thousands of other people around the world.

Alphabet Inc. (NASDAQ: GOOG) has announced a new Google Daydream View headset, which you can pair with Pixel 2 or another Daydream-ready phone for great VR. According to Google AR and VR official blog, the new Daydream View has high-performance lenses, which result in better image clarity and a wider field of view. It sports a premium two-tone fabric that makes the headset soft and light, and it comes in three new colors: Fog, Charcoal and Coral.

Intel Corporation (NASDAQ: INTC) expands the boundaries of technology to make the most amazing experiences possible. Recently, the company and Turner Sports announced a multiyear partnership to make live NBA game action available in virtual reality using Intel True VR technology. Intel will become the Exclusive Provider of Virtual Reality for the NBA on TNT and deliver live content for marquee matchups beginning with NBA All-Star 2018 in Los Angeles. Additionally, Intel is partnering with the NBA to become an authorized provider of virtual reality and 360-degree volumetric video with Intel® freeDTM technology for official NBA broadcast partners globally.

Microsoft Corporation (NASDAQ: MSFT) is the leading platform and productivity company for the mobile-first, cloud-first world, and its mission is to empower every person and every organization on the planet to achieve more. The company offer devices, like Microsoft HoloLens, which delivers a "Mixed Reality" experience during which you'll see holographic images that appear to interact with the real world. It's a new way to game and connect with your environment. On November 1, 2017, the company announced that Microsoft HoloLens, the world's first self-contained holographic computer running Windows 10, is expanding availability to 29 new markets in Europe - Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, Greece, Hungary, Iceland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, Switzerland and Turkey.

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The information provided on http://www.FinancialBuzz.com (the "Site") is either original financial news or paid advertisements provided [exclusively] by our affiliates (sponsored content), FinancialBuzz.com, a financial news media and marketing firm enters into media buys or service agreements with the companies which are the subject to the articles posted on the Site or other editorials for advertising such companies. Financialbuzz.com has not been compensated directly by any of the companies mentioned here in this editorial. We are not an independent news media provider and therefore do not represent or warrant that the information posted on the Site is accurate, unbiased or complete. FinancialBuzz.com receives fees for producing and presenting high quality and sophisticated content on FinancialBuzz.com along with other financial news PR media services. 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