Vuzix Corp’s Revenue Breakdown Worldwide (2015-2021)

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This statistic highlights Vuzix Corp’s Revenue Breakdown Worldwide split across the Asia Pacific, Europe, North America and Others, reported annually from 2015 onwards.
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This statistic highlights Vuzix Corp’s Revenue Breakdown Worldwide split across the Asia Pacific, Europe, North America and Others, reported annually from 2015 onwards.

Vuzix Corp is engaged in the design, manufacture, marketing and sale of augmented reality wearable display and computing devices, also referred to as head-mounted displays, in the form of Smart Glasses and Augmented Reality (AR) glasses.

Vuzix Corp’s Revenue Breakdown Worldwide

Region 2019 2020 2021 Contribution in 2021
Asia Pacific $2.06 $3.29 $4.68 35.57%
Europe $1.66 $3.38 $2.96 22.48%
North America $2.78 $4.53 $5.00 38.00%
Others $0.18 $0.38 $0.52 3.94%
Total $6.67 $11.58 $13.17 100%

(All figures in millions, except for percentages)

Vuzix Corp’s total revenue grew from $2.75 million in 2015 to $13.17 million in 2021, projecting a huge incline of 378.91% or $10.42 million in a span of 6 years. However, the revenue decreased from $8.09 million in 2018 to $6.67 million in 2019, marking a decline of 17.55% or $1.42 million. The company’s total revenue recovered from $6.67 million in 2019 to $11.58 million in 2020, projecting a rise of 73.61% or $4.91 million. The revenue further increased to $13.17 million in 2021 from $11.58 million in 2020, amounting to a growth of 13.73% or $1.59 million.

Vuzix Corp’s revenue is further bifurcated into the following regions:

Asia Pacific

The company’s revenue from this region increased from $0.33 million in 2015 to $4.68 million in 2021, accounting for a growth of 1318.18% or $4.35 million in 6 years. The revenue rose from $1.93 million in 2017 to $2.25 million in 2018, projecting an incline of 16.58% or $0.32 million. There was a decline in the revenue from $2.25 million in 2018 to $2.06 million in 2019 projecting a decline of 8.44% or $0.19 million. The company witnessed a growth in revenue from $3.29 million in 2020 to $4.68 million in 2021, projecting a rise of 42.2%. The revenue generated from this region accounts for 35.57% of the total revenue generated in 2021.

Europe

Vuzix Corp’s revenue from Europe witnessed a rise from $2.16 million in 2015 to $2.96 million in 2021, leading to a growth of 37.04% in 6 years. The revenue declined from $2.18 million in 2018 to $1.66 million in 2019, amounting to a decline of 23.85%. The revenue further rose to 3.38 million in 2020 marking a growth of 103.61% or $1.72 million. However, the revenue again decreased to $2.96 million in 2021 from $3.38 million in 2020, leading to a fall of 12.43% or $0.42 million. Europe accounts for 22.48% of the total revenue in 2021.

North America

The company’s revenue from the Mexico region showed a growth of 1900% or $4.75 million, from $0.25 million in 2016 to $5.00 million in 2021. The majority of the company’s revenue is generated through this region, accounting for 38.00% of the company’s revenue in 2021, amounting to $5.00 million. The revenue decreased from $3.55 million in 2018 to $2.78 million in 2019, making a decline of 21.69% or $0.77 million. The company witnessed a growth of 10.37% from $4.53 million in 2020 to $5.00 million in 2021.

Others

Vuzix Corp’s revenue from other regions increased from $0.01 million in 2015 to $0.52 million in 2021, accounting for an incline of 5100% or $0.51 million in 6 years. The company’s revenue from this segment increased from $0.11 million in 2018 to $0.18 million in 2019, making an incline of 63.64%. The revenue further rose from $0.38 million in 2020 to $0.52 million in 2021, setting a rise of 36.84% or $0.14 million. This region contributes 3.94% to the total revenue generated in 2021.

About Vuzix

Vuzix is an optical technology business that specialises in manufacturing. It was founded in 1997. The Company’s products are industry-leading, representing nearly two decades of experience and innovation. It is a publicly-traded corporation (NASDAQ: VUZI) with offices in Rochester, NY, Oxford, UK, Tokyo, and Japan. Optical components, waveguides, smart glasses, and AR solutions are among the products that the company designs, manufactures, markets, and sells. Vuzix’s devices are extremely configurable, and the company offers custom configurations and production to its OEM partners. Vuzix began as a research and development company for next-generation military display systems, and it has since evolved into a major provider of rugged smart glasses and augmented reality technology for a variety of industries. They bring the next generation of waveguide optics to the world. The company aims to build and maintain a strong position as a global supplier of wearable displays and computers. 

In 2020, it began to offer and intends to continue to expand its offerings of hardware solutions with complementary suites of software solutions, including offerings from its VARs, focused across major markets, platforms, and applications, thus delivering end-to-end solutions to its customers. It strives to be an innovator in designing wearable display devices that can enable enterprise productivity, hands-free applications, mobile video viewing, general entertainment, social media, and AR applications. The company seeks to generate revenue growth through the continued introduction of new AR Smart Glasses, accessories, and software applications and solutions.

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