Vuzix Corp. (VUZI) Announces Successful Completion of Google AR Smart Glasses Pilot Program
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In 2015, global logistics giant DHL, in cooperation with DHL customer Ricoh, successfully completed a pilot program utilizing Vuzix (Nasdaq: VUZI) and Google augmented reality (AR) smart glasses with Ubimax software in a warehouse in the Netherlands. Dubbed "vision picking," the technology allows employees to use hands-free scanning technology and information displayed on the smart glasses to efficiently pick, scan and move orders. The results showed strong approval amongst employees, while reducing error rates and improving picking speed in warehouse operations, resulting in a 25 percent increase in efficiency, according to DHL. A video showcasing the technology is available at: https://www.youtube.com/watch?v=I8vYrAUb0BQ.
On Wednesday, DHL Supply Chain issued news stating that the picking pilots are being expanded over the next six months across different industries, including technology, retail, consumer and automotive, to evaluate broader implementation of the technology. Pilot sites will span the Netherlands, United States, Mainland Europe and the United Kingdom.
This is good news for Vuzix for both brand recognition and sales, as its M100 and next generation M300 Smart Glasses are integral to the expansion program. Equipped with Ubimax's vision picking X-Pick software, Vuzix's M100 Smart Glasses delivered strong productivity results. The new M300 series features advanced technologies, leading Vuzix President and CEO Paul Travers to state today that he expects to see "even stronger ROIs and translate into productive implementation" for users of the technology.
Late in July, Ubimax received the first European shipment of the M300 Smart Glasses, providing Ubimax customers like DHL and Daimler an opportunity to preview the advanced features of the wearable devices. Ubimax is one of a select group of companies chosen as a Vuzix Industrial Partner (VIP), an invitation only group of Vuzix' most successful M100 software application developers.
Vuzix is emerging as a market leader in the rapidly growing fields of AR and VR (virtual reality). Pokémon Go has exemplified the explosive nature of AR, but games are only one component of the potential for an AR/VR market that Goldman Sachs estimates will reach at least $80 billion by 2025. Early investors are embracing the industry, as shown by $3.5 billion in investments by venture capital firms in the past two years.
Realistically, it is impossible to prognosticate just how large the nascent AR/VR market could become because of the countless potential applications. Signs are pointing to AR being a game changer in the logistics and transportation industry, an industry that accounted for $1.45 trillion in spending in 2014 in the U.S. alone (8.3% of annual GDP), according to the Commerce Department.
To learn more about Vuzix, its position in the space or to read the Vuzix press release on the DHL Supply Chain, interested parties are encouraged to visit: https://www.vuzix.com/News.
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