- According to CEO Evan Gappelberg, Nextech is the only diversified small-cap company participating in the rapidly growing digital transformation
- The company is ideally positioned to capitalize on the rapid market adoption environment accompanying the ongoing evolution of AR-led technology
- A recently released report by Facebook shows that a majority of companies will adopt AR and VR technologies in the coming years and that spending on these technologies will increase sixfold by 2024
- This report augurs well for Nextech’s operations as the company, which already has existing AR solutions, is driving market-wide AR-adoption
As the business world undergoes a paradigm shift forcing more and more companies to embrace and implement digital transformation, technology juggernauts are leading the way by offering cloud computing, streaming, e-commerce, networking, video conferencing, augmented reality (“AR”), and virtual reality (“VR”) services and infrastructure. But this role is not the reserve of such behemoths, especially because Nextech AR Solutions (CSE: NTAR) (OTCQB: NEXCF), a diversified small-cap company, is participating in the rapidly growing digital transformation.
The company, which is one of the leaders in the rapidly growing AR industry, is capitalizing on the fact that the major catalysts for AR and VR adoption, i.e., the 5G network whose installation is ongoing in multiple countries around the world and AR-capable consumer wearable devices that hitting the market, are already in place. In a presentation to investors during the Virtual Investor Conferences, Nextech Founder & CEO Evan Gappelberg noted that the world is currently experiencing the fourth industrial revolution, which is prompting technological evolution at a pace never before seen (https://ibn.fm/NqqJZ).
“This evolution is being led by AR, AI, Internet of Things (“IoT”), edge computing and the 5G network, all of which are converging and becoming increasingly ubiquitous for training, e-commerce, advertising, and entertainment,” the presentation reads. “This convergence is stimulating a rapid market adoption environment similar to the internet in the 1990s, driving the creation of billion-dollar industries almost overnight, a market Nextech is uniquely positioned to capitalize on.”
In a new volume of its quarterly Hello Future report series (https://ibn.fm/EYpNB), Facebook corroborates Evan’s sentiments. The report, which augurs well for Nextech’s operations, notes that the importance of AR and VR in people’s everyday lives will grow in the near future; people are welcoming AR into their lives – 78% of people around the world say AR is a fun way to interact with brands and 74% believe AR can bridge the gap between online and offline. It also notes that 75% of business leaders expect to be using AR or VR by 2023 and projects that 2020’s spending on AR and VR will grow sixfold by 2024.
In its analysis, the report states that AR and VR could revolutionize how people engage with brands and how brands engage with people by bridging the gap between online and offline shopping – it allows customers to try, explore, and digitally overlay products into real environments. And that AR and VR are making the world more efficient and equal, thanks to their impact on multiple sectors, including education and medicine.
“The appeal is definitely growing in multiple markets across the globe. This is a clear indication that unique and interactive tech platforms will play a big role in the future and provide businesses with a plethora of exciting ways to interact with their customers,” observes a Digital Information World (“DIW”) article discussing the Facebook report (https://ibn.fm/66IDt).
Although the statement by DIW tells of the future, Nextech, through its existing unique and interactive solutions, already plays a key role and is providing businesses, students, event organizers, event attendees, and instructors with a plethora of exciting ways to interact.
For instance, multiple organizers have selected its Virtual Experience Platform (“VXP”) to host virtual events, while Ryerson University, Carnegie Mellon University, and other higher education institutions are already using its newly launched EdTechX platform (https://ibn.fm/s2mHQ). Moreover, the company offers AR-based solutions for e-commerce.
While the DIW article regards AR and VR technologies as being in their infancy, Nextech is already participating in digital transformation by driving market-wide AR adoption. What’s more, its solutions are benefiting its clients by increasing measurable ROI, brand loyalty, online sales, and product awareness.
For more information, visit the company’s website at www.NextechAR.com.
NOTE TO INVESTORS: The latest news and updates relating to NEXCF are available in the company’s newsroom at https://ibn.fm/NEXCF
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