“I’m excited to join the NexTech team and believe that its technology and service team is well-suited to meet the growing demands of the fast-paced Asia-Pacific market. This region, much like the rest of the globe, continues to rely on virtual offerings for conferences, meetings, events, education and more, and it is aggressively seeking new technological applications, ranging from AR, holograms, enhanced language packs and more that can engage audiences worldwide. There is tremendous potential for NexTech’s InfernoAR technology and I look forward to seeing the traction this company will gain in the Asia-Pacific market,” said Yau Boon Lim, President and Managing Director Asia-Pacific at NexTech AR.
“The Asia-Pacific market opportunity with over 4Billion people and 60% of the world's market is huge, primed and ready for our InfernoAR technology and with Yau Boon leading our strategy and expansion, we’re confident that we’ll drive serious revenue. Over the next couple of months, we’ll be expanding our team, our capabilities and our presence within this fast growing technology driven and bustling market,” said Evan Gappelberg, CEO of NexTech AR. “This is a major milestone for NexTech, marking our continued commitment for global growth as we continue to rapidly expand our solutions globally. With this expansion the sun will never set for Nextech and the stage is now set for continued hyper-growth in 2021 and beyond.”
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About NexTech AR
NexTech is one of the leaders in the rapidly growing Augmented Reality market estimated to grow from USD $10.7B in 2019 and projected to reach USD $72.7B by 2024 according to Markets & Markets Research; it is expected to grow at a CAGR of 46.6% from 2019 to 2024.
The company is pursuing four verticals:
InfernoAR: An advanced Augmented Reality and Video Learning Experience Platform for Events, is a SaaS video platform that integrates Interactive Video, Artificial Intelligence and Augmented Reality in one secure platform to allow enterprises the ability to create the world’s most engaging virtual event management and learning experiences. Automated closed captions and translations to over 64 languages. According to Grandview Research the global virtual events market in 2020 is $90B and expected to reach more than $400B by 2027, growing at a 23% CAGR. With NexTech’s InfernoAR platform having augmented reality, AI, end-to-end encryption and built in language translation for 64 languages, the company is well positioned to rapidly take market share as the growth accelerates globally.
ARitize™ For eCommerce: The company launched its SaaS platform for webAR in eCommerce early in 2019. NexTech has a ‘full funnel’ end-to-end eCommerce solution for the AR industry including its Aritize360 app for 3D product capture, 3D/AR ads, its Aritize white label app it’s ‘Try it On’ technology for online apparel, 3D and 360-degree product views, and ‘one click buy’.
ARitize™ 3D/AR Advertising Platform: Launched in Q1 2020 the ad platform will be the industry's first end-to-end solution whereby the company will leverage its 3D asset creation into 3D/AR ads. In 2019, according to IDC, global advertising spend will be about $725 billion.
ARitize™ Hollywood Studios: The studio is in development producing immersive content using 360 video, and augmented reality as the primary display platform.
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