A report by Allied Market Research notes that the Asia Pacific MICE industry generated revenue of $229 billion in 2017 and is expected to grow at a CAGR of 8.6% to reach $441.1 billion by 2025, providing a significant opportunity for virtual and hybrid events. In the education industry, e-learning was evaluated as a $35 billion market in 2019 and is expected to surpass $90 billion by 2026.
“We are thrilled to have Yau Boon sign up such an impressive group of partners so quickly which speaks to the interest in our technology and products. These eight partners are a key first step for our expansion within the Asia Pacific Market. We are growing very rapidly in North America and the EMEA regions, and plan to continue this fast growth with expansion into the Asia Pacific market. We believe NexTech should be accessible 24/7 and through these partnerships, we are able to do just that. The education and MICE industries represent significant growth opportunities and with the support of our growing list of partners, we believe we’ll be able to get in front of the right decision makers, which will drive the rapid adoption of our products and services and will continue to drive our revenue growth in 2021 and beyond” said Evan Gappelberg, CEO of NexTech AR.
NexTech is continuing to connect with and establish channel partnerships throughout Asia Pacific. To learn more about its services or to become a partner, please click here.
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:
Virtual Conference Platform: 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 Virtual Conference 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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Chief Executive Officer
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