SAN JOSE, Calif, April 07, 2021 (GLOBE NEWSWIRE) -- Today EyeWay Vision Ltd., an Israeli company developing a truly immersive wearable augmented reality (AR) platform, announced that it has joined the newly formed LaSAR Alliance (Laser Scanning for Augmented Reality). The LaSAR Alliance is the newest member program of the IEEE Industry Standards and Technology Organization (ISTO), an international federation of leading industry groups and consortia dedicated to the advancement of standardized technologies for the benefit of industry.
The LaSAR Alliance was established to create an ecosystem of like-minded companies and organizations to foster and encourage the development and promotion of technologies, components, devices, techniques, and solutions to enable the efficient design and manufacture of Augmented Reality (AR) wearable devices including smart glasses and head-mounted displays. LaSAR’s goal is to provide an environment to facilitate a marketplace for ideas where members can exchange and share information, collaborate, and partner to create, build, and grow effective and compelling LBS (Laser-Beam Scanning) -based solutions, share best practices, and to help drive the growth of the market for Augmented Reality wearables, in general.
“LaSAR welcomes EyeWay Vision to the Alliance and looks forward to their contributions to driving the growth of Augmented Reality wearable devices through advances in the state-of-the-art in laser-beam scanning solutions,” said Bharath Rajagopalan, Chair of the LaSAR Alliance. “EyeWay’s system offers an immersive AR experience, and we expect their participation to further fuel the technology and grow this dynamic market,” he added.
The market for virtual and augmented reality is forecast to reach more than $67 billion globally by 2024, according to AR/VR analyst firm Digi-Capital. EyeWay Vision is developing products based on advanced immersive AR technology such as eye tracking, direct retinal projection and foveated projection. This in turn enables new forms of immersive entertainment, digital learning, e-commerce, and other enterprise applications.
“A vibrant, active ecosystem is essential to the successful creation of truly immersive AR, so we are delighted to join with potential partner companies working on key enabling technologies,” commented Dr. Nikhil Balram, CEO of subsidiary company EyeWay Vision Inc. in Silicon Valley, charged with bringing products to market. “There are numerous potential applications for our advanced AR system, which produces a tenfold improvement in visual experience compared to other systems,” he added. Dr. Balram is a renowned AR/VR expert, and former head of display at Google.
LaSAR Alliance has established a tiered membership structure for companies, as well as government and academic organizations. For more information, visit www.LaSARAlliance.org
About EyeWay Vision
EyeWay Vision develops innovative wearable augmented reality systems that provide a truly immersive experience on the go. EyeWay Vision Ltd. was established in 2014 in Israel, and has raised US $46 million in funding from strategic investors including Samsung Next, Verizon Ventures, Horizons Ventures, ICONIQ Capital, and OurCrowd. EyeWay’s proprietary technology is protected by 17 patents published or pending. To learn more about EyeWay Vision, visit http://eyeway-vision.com.