The Augmented Reality (AR) Industry May Grow at a CAGR of Around 15% to Approximately $50 billion by 2024

 Vuzix Corp., United States NASDAQ:  (VUZI), an Under-the-Radar AR Smart Glasses Company, May Have Potential in This Seemingly Lucrative Market

January 4, 2021:
Vuzix Completes Phase 2 Development and Delivers Customized Waveguide-Based Head-Worn Display Engine to a Major US Defense Contractor

The overall AR Industry is expected to possibly grow at a CAGR of around 15% to approximately $50 billion by 2024.(3)

Furthermore, according to analysts at Gartner, by 2021 around one-third of enterprises may deploy a multi-experience platform to support augmented reality development.(2)

But there is one specific sector of AR that may have the most growth potential- smart AR glasses.

The Top 8 Reasons to Consider Vuzix Corp. (NASDAQ:VUZI)

  1. “AR has reached maturity and became an industry-proofed technology that executives can safely invest in to improve and innovate their business,” says AR Post.(1)
  2. By 2021, around one-third of enterprises may deploy a multi-experience platform to support augmented reality development, say analysts at Gartner.(2)
  3. The industry is expected to grow rapidly at a CAGR of around 15% to approximately $50 billion by 2024.(3)
  4. In the near future, demand for Smart AR glasses is expected to reach about 20 million to 31 million units.(3)
  5. Vuzix revenues were up approximately 156% year over year from around $1.2 million to about $2.8 million thanks to sales of the company’s smart glasses. Gross margins were also 47% in 2020.(9)
  6. Some of its biggest customers include Verizon, Clorox, and Becton, Dickinson.(3)
  7. Chardan Capital currently has a price target of approximately $10 on the stock.(4)
  8. With strong management, Vuzix fundamentals and technical indicators appear positive

Vuzix Corp.’s (NASDAQ:VUZI) Technical Indicators Appear Strong

After bottoming out at approximately $1.10 in March 2020, the stock ran to around. $5.18. This is good for a return of about 371%. At the moment, Vuzix’s stock is attempting to break above resistance dating back to mid-2019. If it can break out here, the stock could potentially test a 2018 high of about $8.

The stock is also displaying bullish indicators including its 20 Day Moving Average, 20 – 50 Day MACD Oscillator, 20 – 100 Day MACD Oscillator, 20 – 200 Day MACD Oscillator, 50 Day Moving Average, 50 – 100 Day MACD Oscillator, 50 – 150 Day MACD Oscillator, 50 – 200 Day MACD Oscillator, 100 Day Moving Average, 150 Day Moving Average, 200 Day Moving Average, and 100 – 200 Day MACD Oscillator.

Vuzix’s Earnings Growth Appear to be Impressive as Well

In its most recent quarter, revenues improved to approximately $2.8 million from about $1.2 million year over year. All thanks to higher sales of its smart glasses, which increased about 156% or approximately $1.6 million.

“Our third quarter 2020 revenue grew approximately 140% over the comparable 2019 period largely due to our core enterprise smart glasses business. The worldwide coronavirus outbreak has impacted the day-to-day operations of many enterprise customers across numerous market verticals, including healthcare, manufacturing, logistics and field service, and has furthered adoption and overall acceptance of smart glasses within business operations. We delivered a record $2.7 million of Vuzix smart glasses in the quarter, an increase of 156% year-over-year and up 15% sequentially over our previous record achieved,” said Paul Travers, President and CEO of Vuzix.(8)

Moving forward, the company remains optimistic on growth-especially as the current health and economic conditions remain key catalysts for the adoption of smart glasses.

Vuzix Corp. (NASDAQ:VUZI) Could be Greatly Exposed to This Possible $50 Billion

Vuzix is a leading supplier of Smart-Glasses and AR technologies and products for the consumer and enterprise markets. The company’s products include personal display and wearable computing devices that offer users a portable high-quality viewing experience, provide solutions for mobility, wearable displays and augmented reality.

Vuzix also holds around 179 patents, patents pending, and numerous IP licenses in the Video Eyewear field. The company has also won Consumer Electronics Show (CES) awards for innovation from the years 2005 to 2020, and several other wireless technology innovation awards. 

All of this exposes Vuzix to an industry projected to grow at a CAGR of around 15% to approximately $50 billion by 2024, according to analysts at Gartner.(2)

AR has already begun to revolutionize life and business as we know it. But it may just be getting started.

Such technology allows us to superimpose sounds, images, text over real-world scenarios.  In medical training, for instance, AR allows us to utilize 3D anatomical learning. In addition, according to Fortune, AR can be used by surgeons to alert them to potential risks or hazards during surgery. It can even be used to find patient veins!

Even Apple’s Tim Cook argues that augmented reality is “the next big thing,” adding, “I’m excited about AR.  My view is that it’s the next big thing, and it will pervade our entire lives.”(5)

But  smart glasses may have the most demand and growth potential in the entire sector.

In fact, according to Report Linker:

“The Smart Augmented Reality (AR) Glasses market in the U.S. is estimated at 64.2 Thousand Units in the year 2020. The country currently accounts for an estimated 30.97% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of 4.4 Million Units in the year 2027 trailing a CAGR of approximately 98.4% through 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at about 93.8% and 89.7% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 70.7% CAGR while Rest of European market (as defined in the study) will reach 4.4 Million Units by the year 2027.”(6)

This is Only One Key Catalyst for Vuzix Corp. (NASDAQ:VUZI) Moving Forward

Over the last few weeks, the company:(7)

  • Announced that it is developing a next generation product line of smart glasses powered by micro-LED technology that could be ready by 2021.
  • Announced it is expanding its M400 Smart Glasses market availability to approximately 54 countries.
  • Received smart glasses orders from Pixee Medical to support European commercialization of AR smart glasses for orthopedic surgery.
  • Upgraded its support for Zoom, Skype, and Webex.
  • Received smart glasses orders from 1Minuut Innovation in response to healthcare needs in the Netherlands.
  • Entered into the research of blood cells at Newcastle University.
  • Had its glasses used during remote student learning at the Istanbul University Faculty of Dentistry
  • Received orders from a U.S. Defense Contractor to help develop customized Waveguide-based optic engine.
  • Assisted University of Rochester Medical Center surgeons with AR glasses.

You can see  more of the company’s accomplishments here: https://www.vuzix.com/News

Strong Leadership, Strong Results – NASDAQ:VUZI

Successful companies tend to possess common traits, and one of those traits is a strong management team.  Vuzix Corp. (NASDAQ:VUZI) certainly has that covered well.

Paul J. Travers
CEO, President and Director 

Paul Travers was the founder of Vuzix and has served as our President and Chief Executive Officer since 1997 and as a member of our board of directors since November 1997. Prior to the formation of Vuzix, Mr. Travers founded both e-Tek Labs, Inc. and Forte Technologies Inc. He has been a driving force behind the development of our products. With more than 30 years’ experience in the consumer electronics field, and 25 years’ experience in the virtual reality and virtual display fields, he is a nationally recognized industry expert. He holds an Associate degree in engineering science from Canton, ATC and a Bachelor of Science degree in electrical and computer engineering from Clarkson University.

Grant Russell
CFO, Executive Vice President, Treasurer and Director

Grant Russell has served as our Chief Financial Officer and Executive Vice President since 2000 and as a member of our board of directors since April 2009. From 1997 to 2004, Mr. Russell developed and subsequently sold a successful software firm and a new concept computer store and cyber café. In 1984, he co-founded Advanced Gravis Computer (Gravis), which, under his leadership as President, grew to become the world’s largest PC and Macintosh joystick manufacturer with sales of $44 million worldwide and 220 employees. Gravis was listed on NASDAQ and the Toronto Stock Exchange. In September 1996 it was acquired by a US-based Fortune 100 company in a successful public tender offer. Mr. Russell holds a Bachelor of Commerce degree in finance from the University of British Columbia and is both a US Certified Public Accountant and a Canadian Chartered Professional Accountant.

Shane Porzio
Vice President Engineering

Shane Porzio has been with the Company for more than ten years and has more than 13 years of experience in architecture of systems and designs for hardware and software. His previous employment was at Lockheed Martin where he served as a Hardware Engineer. Mr. Porzio has BS in Computer Engineering Technology from Rochester Institute of Technology and his MS in Computer Science from Rochester Institute of Technology.

Nathaniel S. Bank
Corporate Counsel

Nate Bank joined the Vuzix team in 2018 and brings a wealth of experience in commercial transactions, intellectual property strategy, corporate governance and legal counselling on a wide array of business issues.  Prior to joining Vuzix, Mr. Bank served as Corporate Counsel with Kodak Alaris, directly advising the business unit Presidents, driving improvements in the company’s worldwide contracting processes and supporting new development efforts.  He began his legal career in private practice at Woods Oviatt Gilman LLP as part of the firm’s Business and Finance Department, and prior to attending law school Mr. Bank worked in sales and management roles with the Cintas Corporation.  Mr. Bank holds a B.S. in Ap+plied Economics and Management from Cornell University, and a J.D. from SUNY Buffalo Law School with a concentration in finance transactions.

More from The VUZI Company Website

Vuzix Waveguides, Optics and Display Engines

Vuzix is a leader in Optics technology for near eye displays and one of the largest suppliers of smart glasses in the world. We have a reputation across the smart glasses industry for creating market-leading technology and high-quality products that is protected by 146 patents and patents pending.

Our smart glasses and component technologies are the result of extensive research, design, and development, which we then supplement through OEM partnerships with major tech companies. Our light thin and ergonomic Waveguide designs coupled with our innovative optics for display engines create some of the most desirable and adaptable products.

We provide full customer ready solutions, modular sub-systems, or even full custom Waveguide with display engine designs.

WAVEGUIDES, OPTICS & DISPLAY ENGINES

Our world-class research and development have resulted in market-leading Waveguide optic technology. Our world class optics team specializes in custom solutions from full system designs to basic Waveguides for use in third party solutions. We are experts at directing the light where it needs to be in a compact, efficient package.

Vuzix is at the forefront of the smart glasses industry, providing smaller, lighter and more efficient display engines to the market. We provide high-resolution displays without obstruction.

SMART GLASSES

Smart glasses employing Waveguide-based optics have many enterprise and commercial uses such as warehousing, remote support, manufacturing, navigation, entertainment, gaming and learning. The possibilities for this technology are constantly growing and evolving with the changing demands of industry.

The Top 8 Reasons to Consider Vuzix Corp. (NASDAQ:VUZI)

  1. “AR has reached maturity and became an industry-proofed technology that executives can safely invest in to improve and innovate their business,” says AR Post.(1)
  2. By 2021, around one-third of enterprises may deploy a multi-experience platform to support augmented reality development, say analysts at Gartner.(2)
  3. The industry is expected to grow rapidly at a CAGR of around 15% to approximately $50 billion by 2024.(3)
  4. In the near future, demand for Smart AR glasses is expected to reach about 20 million to 31 million units.(3)
  5. Vuzix revenues had increased approximately 156% year over year from around $1.2 million to about $2.8 million thanks to sales of the company’s smart glasses. Gross margins were also  estimated at 47% in 2020.(9)
  6. Some of its biggest customers include Verizon, Clorox, and Becton, Dickinson.(3)
  7. Chardan Capital currently has a price target of approximately $10 on the stock.(4)
  8. With strong management, Vuzix fundamentals and technical indicators appear positive

Source 1: https://arpost.co/2020/09/25/augmented-reality-gartners-hype-cycle/Source 2: https://emtemp.gcom.cloud/ngw/globalassets/en/publications/documents/top-tech-trends-2020-ebook.pdf

Source 3: https://seekingalpha.com/article/4393574-vuzix-gaining-momentum-ready-for-another-look

Source 4: https://www.analystratings.com/articles/chardan-capital-sticks-to-their-buy-rating-for-vuzix-corporation-vuzi/

Source 5: https://www.baystreet.ca/stockstowatch/8602/These-Could-be-2020s-Top-Augmented-Reality-Companies

Source 6: https://www.globenewswire.com/news-release/2020/07/13/2061334/0/en/Global-Smart-Augmented-Reality-AR-Glasses-Industry.html

Legal Disclaimer


This website / media webpage is owned, operated and edited by TD Media LLC. Any wording found on this website / media webpage or disclaimer referencing to “I” or “we” or “our” or “TD Media” refers to TD Media LLC. This website / media webpage is a paid advertisement, not a recommendation nor an offer to buy or sell securities. Our business model is to be financially compensated to market and promote small public companies. By reading our website / media webpage you agree to the terms of our disclaimer, which are subject to change at any time. We are not registered or licensed in any jurisdiction whatsoever to provide investing advice or anything of an advisory or consultancy nature and are therefore are unqualified to give investment recommendations. Always do your own research and consult with a licensed investment professional before investing. This communication is never to be used as the basis for making investment decisions and is for entertainment purposes only. At most, this communication should serve only as a starting point to do your own research and consult with a licensed professional regarding the companies profiled and discussed. Conduct your own research. Companies with low price per share are speculative and carry a high degree of risk, so only invest what you can afford to lose. By using our service you agree not to hold our site, its editor’s, owners, or staff liable for any damages, financial or otherwise, that may occur due to any action you may take based on the information contained within our website / media webpage.We do not advise any reader take any specific action. Losses can be larger than expected if the company experiences any problems with liquidity or wide spreads. Our website / media webpage are for entertainment purposes only. Never invest purely based on our alerts. Gains mentioned in our website / media webpage may be based on end-of-day or intraday data. This publication and their owners and affiliates may hold positions in the securities mentioned in our alerts, which we may sell at any time without notice to our subscribers, which may have a negative impact on share prices. If we own any shares we will list the information relevant to the stock and number of shares here. TD Media business model is to receive financial compensation to promote public companies. To conduct investor relations advertising, marketing and publicly disseminate information not limited to our Websites, Email, SMS, Push Notifications, Influencers, Social Media Postings, Ticker Tags, Press Releases, Online Interviews, Podcasts, Videos, Audio Ads, Banner Ads, Native Ads, Responsive Ads. This compensation is a major conflict of interest in our ability to be unbiased regarding. Therefore, this communication should be viewed as a commercial advertisement only. We have not investigated the background of the hiring third party or parties. The third party, profiled company, or their affiliates likely wish to liquidate shares of the profiled company at or near the time you receive this communication, which has the potential to hurt share prices. Any non-compensated alerts are purely for the purpose of expanding our database for the benefit of our future financially compensated investor relations efforts. Frequently companies profiled in our alerts may experience a large increase in volume and share price during the course of investor relations marketing, which may end as soon as the investor relations marketing ceases. Our emails may contain forward-looking statements, which are not guaranteed to materialize due to a variety of factors We do not guarantee the timeliness, accuracy, or completeness of the information on our website / media webpage. The information in our website / media webpage is believed to be accurate and correct, but has not been independently verified and is not guaranteed to be correct. The information is collected from public sources, such as the profiled company’s website and press releases, but is not researched or verified in any way whatsoever to ensure the publicly available information is correct. Furthermore, TD Media often employs independent contractor writers who may make errors when researching information and preparing these communications regarding profiled companies. Independent writers’ works are double-checked and verified before publication, but it is certainly possible for errors or omissions to take place during editing of independent contractor writer’s communications regarding the profiled company(s). You should assume all information in all of our communications is incorrect until you personally verify the information, and again are encouraged to never invest based on the information contained in our written communications. The information in our disclaimers is subject to change at any time without notice.

INFLUENCER COMPENSATION

Pursuant to an agreement between TD Media LLC and Influencer, TD Media LLC has hired Influencer for a period beginning on 01/06/2021 and ending on 01/06/2021 to publicly disseminate information about (VUZI:US) via digital communications. We have paid this Influencer six hundred dollars USD.

Pursuant to an agreement between TD Media LLC and Influencer, TD Media LLC has hired Influencer for a period beginning on 01/07/2021 and ending on 01/07/2021 to publicly disseminate information about (VUZI:US) via digital communications. We have paid this Influencer six hundred dollars USD.

COMPENSATION

Pursuant to an agreement between TD Media LLC and Legends Media LLC, TD Media LLC has been hired for a period beginning on 12/16/2020 and ending on 12/18/2020 to publicly disseminate information about (VUZI:US) via digital communications. We have been paid ten thousand dollars USD via bank wire transfer.

Pursuant to an agreement between TD Media LLC and Legends Media LLC, TD Media LLC has been hired for a period beginning on 12/28/2020 and ending on 01/05/2021 to publicly disseminate information about (VUZI:US) via digital communications. We have been paid an additional thirty thousand dollars USD via bank wire transfer. We own zero shares of (VUZI:US). To date we have been paid forty thousand dollars USD via bank wire transfer. To disseminate information about (VUZI:US) via digital communications.

Pursuant to an agreement between TD Media LLC and Legends Media LLC, TD Media LLC has been hired for a period beginning on 12/28/2020 and ending on 01/05/2021 to publicly disseminate information about (VUZI:US) via digital communications. We have been paid an thirty thousand dollars USD via bank wire transfer. Pursuant to an agreement between TD Media LLC and Winning Media LLC, TD Media LLC has been hired for a period beginning on 01/11/2021 and ending on 01/29/2021 to publicly disseminate information about (VUZI:US) via digital communications. We have been paid an additional seventy thousand dollars USD via bank wire transfer. We own zero shares of (VUZI:US). To date we have been paid one hundred ten thousand dollars USD via bank wire transfer. To disseminate information about (VUZI:US) via digital communications.

Pursuant to an agreement between TD Media LLC and Winning Media LLC, TD Media LLC has been hired for a period beginning on 01/11/2021 and ending on 01/29/2021 to publicly disseminate information about (VUZI:US) via digital communications. We have been paid an seventy thousand dollars USD via bank wire transfer. Pursuant to an agreement between TD Media LLC and Legends Media LLC, TD Media LLC has been hired for a period beginning on 02/04/2021 and ending on 02/16/2021 to publicly disseminate information about (VUZI:US) via digital communications. We have been paid an additional forty five thousand dollars USD via bank wire transfer. We own zero shares of (VUZI:US). To date we have been paid one hundred fifty five thousand dollars USD via bank wire transfer. To disseminate information about (VUZI:US) via digital communications.

Pursuant to an agreement between TD Media LLC and Winning Media LLC, TD Media LLC has been hired for a period beginning on 01/11/2021 and ending on 01/29/2021 to publicly disseminate information about (VUZI:US) via digital communications. We have been paid an seventy thousand dollars USD via bank wire transfer. Pursuant to an agreement between TD Media LLC and Legends Media LLC, TD Media LLC has been hired for a period beginning on 02/17/2021 and ending on 03/14/2021 to publicly disseminate information about (VUZI:US) via digital communications. We have been paid an additional forty five thousand dollars USD via bank wire transfer. We own zero shares of (VUZI:US). To date we have been paid two hundred thousand dollars USD via bank wire transfer. To disseminate information about (VUZI:US) via digital communications.

Pursuant to an agreement between TD Media LLC and Winning Media LLC, TD Media LLC has been hired for a period beginning on 01/11/2021 and ending on 01/29/2021 to publicly disseminate information about (VUZI:US) via digital communications. We have been paid an seventy thousand dollars USD via bank wire transfer. Pursuant to an agreement between TD Media LLC and Legends Media LLC, TD Media LLC has been hired for a period beginning on 03/15/2021 and ending on 04/23/2021 to publicly disseminate information about (VUZI:US) via digital communications. We have been paid an additional forty five thousand dollars USD via bank wire transfer. We own zero shares of (VUZI:US). To date we have been paid two hundred forty five thousand dollars USD via bank wire transfer. To disseminate information about (VUZI:US) via digital communications.

Pursuant to an agreement between TD Media LLC and Winning Media LLC, TD Media LLC has been hired for a period beginning on 01/11/2021 and ending on 01/29/2021 to publicly disseminate information about (VUZI:US) via digital communications. We have been paid an seventy thousand dollars USD via bank wire transfer. Pursuant to an agreement between TD Media LLC and Legends Media LLC, TD Media LLC has been hired for a period beginning on 04/26/2021 and ending on 05/31/2021 to publicly disseminate information about (VUZI:US) via digital communications. We have been paid an additional forty five thousand dollars USD via bank wire transfer. We own zero shares of (VUZI:US). To date we have been paid two hundred ninety thousand dollars USD via bank wire transfer. To disseminate information about (VUZI:US) via digital communications.

Pursuant to an agreement between TD Media LLC and Winning Media LLC, TD Media LLC has been hired for a period beginning on 01/11/2021 and ending on 01/29/2021 to publicly disseminate information about (VUZI:US) via digital communications. We have been paid an seventy thousand dollars USD via bank wire transfer. Pursuant to an agreement between TD Media LLC and Legends Media LLC, TD Media LLC has been hired for a period beginning on 06/01/2021 and ending on 07/21/2021 to publicly disseminate information about (VUZI:US) via digital communications. We have been paid an additional forty thousand dollars USD via bank wire transfer. We own zero shares of (VUZI:US). To date we have been paid three hundred thirty thousand dollars USD via bank wire transfer. To disseminate information about (VUZI:US) via digital communications.

Pursuant to an agreement between TD Media LLC and Winning Media LLC, TD Media LLC has been hired for a period beginning on 01/11/2021 and ending on 01/29/2021 to publicly disseminate information about (VUZI:US) via digital communications. We have been paid an seventy thousand dollars USD via bank wire transfer. Pursuant to an agreement between TD Media LLC and Legends Media LLC, TD Media LLC has been hired for a period beginning on 07/22/2021 and ending on 09/30/2021 to publicly disseminate information about (VUZI:US) via digital communications. We have been paid an additional twenty thousand dollars USD via bank wire transfer. We own zero shares of (VUZI:US). To date we have been paid three hundred fifty thousand dollars USD via bank wire transfer. To disseminate information about (VUZI:US) via digital communications.

(Last updated: 1635377404 unix)

Vuzix Corporation

Vuzix is a leading supplier of Smart-Glasses and Augmented Reality (AR) technologies and products for the consumer and enterprise markets. The Company’s products include personal display and wearable computing devices that offer users a portable high-quality viewing experience, provide solutions for mobility, wearable displays and augmented reality. Vuzix holds 166 patents and patents pending and numerous IP licenses in the Video Eyewear field. The Company has won Consumer Electronics Show (or CES) awards for innovation for the years 2005 to 2020 and several wireless technology innovation awards among others. Founded in 1997, Vuzix is a public company (NASDAQ: VUZI) with offices in Rochester, NY, Oxford, UK, and Tokyo, Japan. For more information, visit Vuzix website, Twitter and Facebook pages.