By definition, AR is a modified version of the real physical world that is experienced through 3D digital visuals, sound, or other sensory provided by technology.
Globally, the AR market is estimated to be valued at US$17.67 billion in 2020 and is expected to grow at a compound annual growth rate of 43.8% between 2021 and 2028, fueled in part by businesses using AR-based apps for tracking. , identify and solve technical problems, as well as the growing preference of people using smartphones, smart glasses and other wearable or wearable devices.
With this in mind, companies like Nextech AR Solutions Corp. (CSE: NTAR, OTCQB: NEXCF, Forum) exploit this growing market. The company owns an AI-powered 3D modeling factory and develops and operates scalable AR solutions that bring 3D product visualizations, human holograms and 360-degree portals to its audience by changing e-commerce, digital advertising , product packaging and hybrid events, among others. . They have a true end-to-end solution.
On January 12, Nextech AR Solutions announced that it had signed an enterprise 3D modeling agreement with a multinational e-commerce brand for its ARitize3D Platform.
Nextech AR Solutions signs an agreement with an e-commerce brand
In a press release, the company said it has committed to producing 2,500 3D models for distribution to the e-commerce brand’s online affiliates. ARitize 3D gained momentum as more and more e-commerce businesses sought out AR and 3D model solutions. The ARitize 3D is a patent-pending technology that leverages AI to improve the build quality of 3D models.
“This enterprise 3D modeling contract for 2,500 initial models is a huge win for Nextech and clearly highlights the future trajectory of our technology. By being able to provide scalable 3D/AR e-commerce solutions to the world’s largest multinational corporations at what we believe to be the lowest cost and highest quality, most scalable solution is a real game-changer for our business, Evan Gappleberg, CEO of Nextech AR Solutions, said in a press release. “I think this is just the beginning, as we have many other corporate transactions in our pipeline that we expect to close in the first quarter.”
Gappleberg added that he believes 2022 will be the year 3D models become “must-have” items in the e-commerce world, and his company’s solutions will stand out from the crowd.
Nextech AR in the news
Along with the company’s latest announcement, Nextech AR Solutions has announced that it will also be presenting at the upcoming NRF 2022 Retail Big Show at the Javits Center in New York City from January 16-18.
The company will present its ARitize 3D solution at the conference, which will also feature some of the biggest names in retail such as Walmart, Nordstrom, Best Buy, PepsiCo. Foods, IBM, Macy’s, McDonald’s, Ralph Lauren, Foot Locker, Microsoft, Target and others.
The investment opportunity
As the AR market continues to gain momentum as e-commerce platforms begin to rapidly implement AR solutions into their services, companies like Nextech AR Solutions will be the ones investors will want to watch.
Nextech AR Solutions is off to a great start in 2022, and with the year still so young, the company has certainly set the tone for more exciting news to come.
For more information, please visit nextechar.com.
FULL DISCLOSURE: This is a paid article produced by Stockhouse Publishing.