December 17, 2014 0 Comments
Based on a report by MarketsandMarkets, the smartglass market is predicted to reach $5.8 billion by the year 2020. Which is why computer hardware companies are all scrambling to create the perfect pair for personal and business use. Leading the pack is Google Glass, the pioneer in augmented reality technology. Google Glass is now being used in some major hospitals in the US. Companies like BMW, Boeing, HP and Taco Bell are likewise using it in their daily operations. Google Glass has become a potential game changer that has spawned a whole group of similar products. There’s the Sony SmartEyeGlass, Toshiba Glass, LaForge Optical Icis, Meta Pro, Optinvent Ora-S, Recon Jet, Huawei Honor, and many more. According to research firm Gartner, smartglass technology has the potential to boost efficiency in manufacturing, field services, the retail industry, and the health services sector. And although the use of smartglasses in the workplace is currently at a nascent stage with market penetration of one less than one percent of companies in the US, Gartner predicts that it may increase to 10% in the next five years. And despite the fact there’s still low acceptance for smartglasses for consumer use, investors have continued to see their potential. Today, Snapchat acquired Vergence Labs, a smartglass manufacturer, for $15 million.
You can read about the acquisition here.
© 2016 Online Agility Investments, Acquisitions and Venture Capital Database | Internet DealBook. All Rights Reserved.