Over the last several years, the augmented reality (AR) market has been one of the hottest technology trends and is only expected to continue gaining momentum as this technology continues being implemented into our everyday lives. In order to have an AR experience requires a 3D model to be made with photorealistic qualities.
By definition, AR is a modified version of the real physical world that is experienced through digital 3D visual elements, sound or other sensories delivered through technology.
At a global scale, it is estimated that the AR market was valued at US$17.67 billion in 2020 and is expected to grow at a compound annual growth rate of 43.8 percent between 2021 and 2028 fueled in part by businesses using AR-based apps for tracking, identifying and fixing technical issues and also the growing preference of people using smartphones, smart glasses and other handheld or wearable devices.
With that in mind, companies like
Nextech AR Solutions Corp. (CSE:NTAR, OTCQB:NEXCF, Forum) are tapping into this growing market. The company has a 3D modeling factory powered by AI and develops and operates AR-scalable solutions that transport 3D product visualizations, human holograms and 360-degree portals to its audiences by altering 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 deal with a multinational e-commerce brand for its A
Ritize3D platform.
Nextech AR Solutions signs deal with e-commerce brand
In a press release,
the company said that it is contracted to produce 2,500 3D models that will be distributed to the e-commerce brand’s online subsidiaries. A
Ritize 3D has been generating momentum as more e-commerce businesses have been looking for AR and 3D model solutions. The A
Ritize 3D platform is a patent-pending technology that leverages AI to enhance the building quality of 3D models.
“This enterprise 3D modeling contract for an initial 2500 models is a huge win for Nextech, and clearly highlights the future trajectory of our technology. By being able to provide scalable 3D/AR ecommerce solutions for the world’s largest multinational companies at what we believe is the lowest cost and highest quality, the most scalable solution really does change the game for our Company,” Evan Gappleberg, CEO of Nextech AR Solutions, said in a press release. “I believe that this is just the beginning as we have many more enterprise deals in our pipeline which we expect to close in Q1.”
Gappleberg added that he believes 2022 will be the year that 3D models will become “must have” items in the ecommerce world, and that his company’s solutions will stand out above the rest.
Nextech AR in the news
In tandem with the company’s latest announcement, Nextech AR Solutions
said it will be also presenting at the upcoming NRF 2022 Retail’s Big Show at the Javits Center in New York from January 16 to 18.
The company will be presenting its A
Ritize 3D solution at the conference, which will also be hosting 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
With the AR market continuing to gain momentum as ecommerce platforms begin rapidly implementing AR solutions into their services, companies like Nextech AR Solutions will be one investors will want to watch for.
Nextech AR Solutions is off to a big start to 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.