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NexTech AR Solution lands a deal with Sand Separation Solutions

14 Oct NexTech AR Solution lands a deal with Sand Separation Solutions

NexTech AR Solutions (OTCQB: NEXCF), a leader in the fast emerging Augmented Reality Industy, announced the signing of a multi platform deal with Sand Separation Solutions (SSS), a leading heavy equipment rental company in the oil and gas sector. According to a Company statement the deal will incorporate both web and app-based AR experiences and will use NexTech’s AR university platform and web AR to further enhance the existing 3D assets of SSS.

The technology will allow SSS to exhibit the mobile separator system in much more detail, along with highlighting the quality of the equipment, to potential customers.

Evan Gappelberg, NexTech’s CEO stated

“Sand Separation is just the latest forward thinking company to see the enormous value of NexTech’s platform and how to use augmented reality to enhance their business” He further added “We are thrilled that AR has transcended the demo stage, and become a vital part of today’s product and retail strategies creating value for our customers and shareholders alike.”

NexTech will equip the SSS sales team, with its 3D-AR assets such as cross-platform and cross-browser AR University Platform, which will help them with mobile and virtual demonstrations of their sand separation systems. The idea is to incorporate AR technology into portable palm sized devices, which will improve the quality of customer interaction by the sales team.

In addition, the Company also announced the launch of the world’s first self-service 3D augmented reality publishing platform for business, which eliminates the need for programming experience. The novel platform allows companies and brands to create digital twins using 3D modeling software, Smartphones and scanners. This will allow them to inculcate augmented reality into any product they chose and facilitate a full-scale 3D projection in their own space.

NexTech believes that this industry-first platform will enable anyone with a 3D model, to transform any ordinary product into an AR object, without the need for prior programming knowledge, thereby helping them capitalize on the rising opportunities in AR integration globally. The Company has revealed that it has signed deals with Budweiser, Zoltan David, Mr. Steak and several others in the past few months, which serves as a validation for its technology.

NexTech AR Solutions (OTCQB: NEXCF)

Market Cap: $36.15M; Current Share Price: 0.6692 USDChart
Data by YCharts

The Industry
The Augmented Reality Market that was estimated to be worth USD 3.33 billion in 2015 is projected to grow at a CAGR of 85.2% from 2016 to 2021 to reach USD 133.78 billion by 2021, according to a report by Zion Market Research. The growth will primarily be driven by the gaming, entertainment and retail industries that seek innovative and unique promotional media to differentiate themselves from the competition.

Image Source: Freepik

In addition, factors such as demand for digitally enhanced reality for game development, increasing usage of smartphones, need for redefining customer engagement; manufacturing support and quality assurance are some of the areas that have contributed to AR being adapted globally. The increased demand from Aerospace and defense organizations worldwide, coupled with the blooming e-commerce sector, will further propel the growth in the AR market.

Major organizations all over the world are now adopting AR-based strategies to promote their brands and enhance customer engagement. Pokemon Go, is one of the best examples of how AR can create engaging content. Ikea now allows its customer to scan a room with the help of its IKEA PLACE app, and see how its furniture looks in the user’s surroundings. Pepsi MAX’s live for now campaign transformed a bus stop into an AR environment, by live streaming information from the road ahead, and also creating unique scenarios such as alien abduction to wild tiger chases to grab eye balls.

The construction industry too is benefitting from the application of augmented reality in numerous areas such as simplifying complex model designs, sales and marketing demonstrations, training, planning and real-time monitoring of critical processes to name a few.

Company
NexTech is one of the leading companies in the Augmented Reality industry, offering diverse products and services, such as an industry-first ARitize e-commerce platform, a browser-based, web-enabled AR platform that has the ability to enhance a customer’s interaction with the company’s product, by experiencing it prior to purchasing, through the virtual medium offered by NexTech.

The Company’s patented ARitize™ platform is an amalgamation of Augmented Reality, Artificial intelligence and Real-Time Analytics, combined to provide eCommerce optimization. The technology also integrates directly with Shopify (NYSE: SHOP), Magento, and WordPress. In January 2019, the Company announced that it was integrating Experience API analytics into its platform, which when combined with its Artificial Intelligence driven  augmented reality solutions, will prove to be a game-changer in the online shopping industry. The technology will allow the scanning of body parts and facial features to offer customized products based on the users size, style and preference, through an AR hologram acting as personal shopping assistant.

Furthermore the Company offers ARitize to retail showrooms, enabling them to enhance product launches, product displays and create custom experiences for customers through virtual personal shopping assistants. NexTech also offers an ARitize™ App that can be used to improve existing content, materials and hard goods, at a low entry cost across multiple mediums.

The Companies other offerings include ARitize™ University, which can deliver immersive educational experiences through volumetric 3D content and ARitize™ Studios that creates an interactive 3D volumetric holograms in any location. Additionally its Hoot 3D e-commerce offering allows a customer to have an in-store experience while shopping online, through its interactive approach. This technology can be integrated with existing platforms such as amazon.com (NASDAQ: AMZN), Magento, Shopify, Squarespace, Yahoo and Bigcommerce.

 

Risk Assessment 

  • As per the NexTech’s financial results for the year ended May 31, 2019, the Company reported over $2 million in revenue and $584,007 in gross profit. The Company is targeting a tenfold growth in 2020, along with expectations of positive cash-flow by Q4, 2019.
  • The Company is focused on three verticals in the Augmented Reality Sector namely E-Commerce, Interactive Education and Workplace training and Immersive entertainment content, these three verticals have a lot of potential and combined together are projected to be worth over  $120 billion by 2022, according to Statista.
  • NexTech has six product launches planned, the first of which started with the do-it-yourself augmented reality platform for businesses. These are the likely to be the key to driving its revenue growth in the future. 
  • The Company is offering a highly differentiated product in a fast-growing market, which offers it ample opportunities to create a niche market for itself. There is a growing demand for incorporating AR in numerous fields such as defense, manufacturing, medicine and aviation, which augurs well for the Company’s future prospects.
  • AR is still in its nascent stage, with there being a huge scope for improvement and innovation. There are concerns about this technology such as privacy and data security concerns, impaired perception due to faulty AR systems, design error liability, safety and intellectual property concerns, which may impede its adaptation and may hinder the Company from realizing its full potential.
  •  Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any position within the next 72 hours.

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    Source:

    https://www.proactiveinvestors.com/companies/news/903606/nextech-ar-solutions-lands-deal-with-leading-oil-and-gas-industry-heavy-equipment-rental-company-sand-separation-solutions-903606.html

    https://www.proactiveinvestors.com/companies/news/903354/nextech-ar-solutions-launches-self-service-augmented-reality-platform-for-businesses-903354.html

    https://www.khl.com/vr-and-ar-shaping-the-construction-industry/140384.article

    https://www.proactiveinvestors.com/companies/news/904103/nextech-ar-solutions-posts-full-year-results-teases-tenfold-revenue-growth-target-for-2020-904103.html

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