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.
December 10, 2014 0 Comments
In the last few years, we have seen a slew of high-tech wearable devices invade the market. From Google Glass, to fitness trackers like Jawbone and Nike Fuel Band, to smartwatches like the Galaxy Gear, we already know that wearables are quickly becoming important gadgets for consumers. Now that the concept of wearable technology is firmly planted in consumers’ minds, manufacturers are thinking of new ways to incorporate it into the workplace. Today, a large number of companies are testing the viability of wearables like smartglasses, head-mounted cameras and activity monitors in hospitals, factories and manufacturing facilities. One of the companies at the forefront of enterprise wearables is XOEye. XOEye manufactures smartglasses for blue collar industries like manufacturing, construction and field services. With the goal to dramatically boost workplace efficiency, XOEye’s WIFI and Bluetooth-enabled smartglasses are capable of some pretty amazing things. They’re equipped with cameras that can record and stream videos to various devices in the workplace, they have built-in sensors that can scan barcodes, and are equipped with microphones and speakers to allow users to speak with co-workers instantly whether they’re located in the same building or thousands of miles away. With a projected addressable market of $5.8 billion in five years time, it seems likely that we’ll see more investments in the connected eyewear space. This week, XOEye received a $1.5 million, part of a $2 million series A round the company is currently raising.
You can read about the funding here.
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