Miami, FL – January 20, 2021 (EmergingGrowth.com NewsWire) — EmergingGrowth.com, a leading independent small cap media portal with an extensive history of providing unparalleled content for the Emerging Growth markets and companies, reports on Nextech AR Solutions (OTCQB: NEXCF)
- Cloud-based data will enable Nextech AR to host hyper-scalable, secure events and support immersive 3D and AR experiences across all its technologies.
- Azure, Microsoft’s cloud, and edge computing platform is the gold standard.
- Nextech AR will enter Microsoft’s Co-sell program, opening additional opportunities to extend the reach of Nextech products and create new customer connections.
VANCOUVER, British Columbia, Jan. 20, 2021 (GLOBE NEWSWIRE) — Nextech AR Solutions (Nextech) (OTCQB: NEXCF) (NEO: NTAR) (FSE: N29), a leading provider of augmented reality (AR) and virtual experience technologies (VXT) and services for 3D ads, eCommerce, education, conferences today announced that Microsoft’s Azure Cloud Services platform will be a standard offering across its virtual experience platforms and consumer apps enabling hyper-scalable, secure and immersive events and applications for users.
By leveraging Azure across all platforms and products, Nextech offers superior cloud-based scalability for virtual and hybrid events. Events hosted by Nextech across the education, hospitality, health, and professional services industries can be scaled quickly and efficiently to accommodate a 20X increase in concurrent users with the integration of Azure.
Additionally, with the integration of Microsoft Azure in Nextech’s VXP, ARoom and other offerings, client and attendee data can be hosted locally and in compliance with the event’s privacy and regulatory requirements, regardless of location or host country.
Azure cloud-computing is already available in Nextech’s recently announced ARoom video streaming solution and will soon be available in the Virtual Experience Platform (VXP) SaaS offering for events and education experiences. In coming months, Nextech will also migrate data and projects from its AiRShow and ARitize apps to Azure, rounding out the product portfolio and offering premium scalability and security to Nextech customers and partners across eCommerce, entertainment, and enterprise services.
What’s more, through the use of Azure, Nextech will join Microsoft’s Co-sell partner network and leverage the Microsoft brand to showcase proprietary platforms and technologies with potential customers and sellers around the world.
“We pride ourselves in offering truly scalable events and services for today’s digital age. With our existing data center, making quick changes to event size and scale was an involved process that required hardware changes and sometimes took weeks,” said Mark Pace, CTO, Virtual Experience Platform at NexTech AR, “By migrating our platforms onto Microsoft Azure, we can scale events at the cloud level, with the push of a button, enabling us to elevate our event and customer experiences simultaneously. Azure is a trusted, industry-leading solution with game-changing potential for the event and experience creation industry. Our customers have come to rely on our growing portfolio of products to provide next-level tools and services which makes cloud-computing integration a perfect addition.”
“Azure, Microsoft’s cloud and edge computing platform is the gold standard and positions us perfectly for large enterprise customers who are looking for a convenient and reliable cloud-based computing platform. We see this as a major building block which is crucial to our business model as we look to expand the footprint of our virtual events and experiences,” said Evan Gappelberg, CEO of Nextech AR. He continues, “In 2020 we worked with notable organizations including Amazon, Northwell Health, Dell, Bell Canada, Grundfos, UNESCO, Restaurants Canada and Carnegie Mellon University to create virtual experiences and tools. In 2021 we now have the ability to offer Microsoft Azure to new and existing partners which will be instrumental to our growth as we look to build on our new client wins with new product offerings, and first-class customer service.”
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 Experience Platform (VXP): An advanced Augmented Reality and Video Learning Experience Platform for Events, VXP 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 VXP 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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On behalf of the Board of Nextech AR Solutions Corp.
CEO and Director
For further information, please contact:
Chief Executive Officer
The NEO has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Certain information contained herein may constitute “forward-looking information” under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as, “will be”, “looking forward” or variations of such words and phrases or statements that certain actions, events, or results “will” occur. Forward-looking statements regarding the Company increasing investors awareness are based on the Company’s estimates and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, levels of activity, performance, or achievements of Nextech to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including capital expenditures and other costs. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Nextech will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.
Source: NexTech AR Solutions Corp.
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