Jan 07, 2020 (Financial News Media via COMTEX) -- Palm Beach, FL - January 7, 2020 — Augmented reality is changing the way we see the world and transforming multi-billion-dollar industries, including automobiles, the government, the military, logistics, and healthcare, with its ability to provide real-time data, and simulate real life experiences. Better, over the next three years, augmented reality could be part of a $120 billion industry, according to the International Data Corporation (IDC). In addition, according to Statista, the global augmented reality market could explode from $3.5 billion in 2017 to more than $198 billion in the next five years. While growth estimates vary, one thing is for certain. Augmented reality is quickly transforming the way we see the world. The best part - it's creating sizable, exciting opportunity for top companies like NexTech AR Solutions (otcqb:NEXCF) /zigman2/quotes/208196573/delayed CA:NTAR -1.28% , Vuzix Corp. /zigman2/quotes/205105106/composite VUZI +7.05% , Snap Inc. /zigman2/quotes/205087158/composite SNAP +1.52% , Apple Inc. /zigman2/quotes/202934861/composite AAPL +3.75% , and Amazon.com Inc. /zigman2/quotes/210331248/composite AMZN +2.49% .
NexTech AR Solutions (otcqb:NEXCF) /zigman2/quotes/208196573/delayed CA:NTAR -1.28% BREAKING NEWS: NexTech AR Solutions , the leader in augmented reality (AR) for eCommerce and AR learning applications just announced that it has achieved record revenue and gross profit for the month of December 2019 and Q4. Both revenue and gross profit showed dramatic increases in December. Notably, the company achieved over $760,000 in December revenue and gross profit of $453,000 representing the highest revenue ever achieved in a single month. Revenue and Gross profit for the 4th quarter 2019 also accelerated rapidly reaching $2,580,000 and $1,340,000 respectively, which represents a 4390% increase in revenue and 2232% increase in gross profits year over year. Evan Gappelberg, CEO of NexTech AR Solutions comments "I'm excited to report record preliminary numbers for our 4th quarter and I am particularly excited that we were able to achieve $760,000 in sales in just one month, hitting a new company high. During the month of December and the entire Q4, we saw an acceleration in sales growth across all business segments, especially our AR e-commerce division, which is now starting to scale as we continue to signup more customers". He continues, "We are in the midst of the 4th Industrial Revolution, and technology is evolving faster than ever. This revolution is being led by AR, AI, IoT, Edge computing and the 5G network, all of which are converging and becoming increasingly ubiquitous for training, e-commerce, advertising, and entertainment. This convergence is stimulating a rapid market adoption environment similar to the internet in the 1990's driving the creation of billion-dollar industries almost overnight, a market NexTech is uniquely positioned to capitalize on."
The company is beta testing both its game-changing CaptureAR technology and it's AR, 3D 360 advertising platform with very positive results both of which it expects to launch in the next few weeks.
CaptureAR is a pivotal new technology will accelerate the augmented reality global marketplace. With CaptureAR customer can achieve incredible time and money savings. What could take an experienced 3D modeler days of work to create a 3D version of a product, can now be done in a matter of minutes--and with the same resolution and image fidelity as if the 3D model was designed from scratch.
Both the ad network and the CaptureAR technology work hand and hand building value for each other through content creation and the usage of the content on the ad network. The ad network is part of the company's AR omni-channel platform approach which includes: AR for e-commerce, AR in Chat, its ARitize App and AR University for education and training. With this new ad network NexTech will continue to leverage all its current 3D asset creation technology and relationships into 3D-AR-360 ads, opening up a major new revenue channel in 2020 and beyond. In 2019, according to IDC, global advertising spend will be about $725 billion, up over 4% from 2018.
Other related developments from around the markets include:
Vuzix Corp. /zigman2/quotes/205105106/composite VUZI +7.05% announced that the Company’s upcoming Vuzix Labs Smart Swim product has received two CES 2020 Innovation Awards in recognition of its outstanding design and engineering. Smart Swim, an innovative smart glasses accessory for swimmers, is the first smart glasses product born out of Vuzix Labs, a newly created rapid development product and engineering division of Vuzix. Smart Swim has received CES 2020 awards in two categories: Computer Peripherals & Accessories and Wearable Technologies, respectively. The CES Innovation Awards is an annual competition honoring outstanding design and engineering in consumer technology products. Vuzix Labs Smart Swim takes swimming workouts to the next level in terms of interval training and technological capabilities. Smart Swim not only provides swimming workout status, including elapsed time, yardage and laps, along with a coach to swimmer connection, but it also allows the swimmer to download and preview workouts, record their workouts and even stream video from the Smart Swim video player, all while in the pool or open waters. The Smart Swim easily fits over virtually any swim goggles, so the swimmer can stay with their existing favorite pair. Smart Swim includes an Android computer, a vibrant full color display, Wi-Fi, Bluetooth, head tracker, GPS, compass, internal battery, USB and much more.
Snap Inc. /zigman2/quotes/205087158/composite SNAP +1.52% unveiled Duck Duck by Harmony Korine, an experimental short film shot using Spectacles 3 to explore storytelling in 3D. Released November 2019, Spectacles 3 are equipped with dual HD cameras to capture three-dimensional photos and videos, unlocking the ability to transform Snaps with 3D Effects. Best known for Kids, Spring Breakers and most recently, Beach Bum, cult filmmaker Harmony Korine experiments with Spectacles 3 as a cinematic tool, overlaying augmented reality onto three-dimensional scenes for immersive storytelling. Using Spectacles 3, Harmony Korine transforms Miami into an unbridled dreamscape of sound and color in Duck Duck -- exploring the emerging disciplines of wearable cinema, augmented reality, and immersive, spontaneous storytelling. The film's hybrid reality is brought to life through 3D Effects developed for the film, which will be available to Spectacles 3 users on Snapchat. "Spectacles 3 is a completely unique format that shifted my perspective on film, narrative, what's animated and what's real," said Harmony Korine. "By combining a first-person point of view and 3D Effects, the sunglasses inhabit their own hyper-personal universe, and helped inspire the multi-sensory experience of Duck Duck – like you can walk into this world when you watch it."
Apple Inc. /zigman2/quotes/202934861/composite AAPL +3.75% , Amazon, Google, and the Zigbee Alliance today announced a new working group that plans to develop and promote the adoption of a new, royalty-free connectivity standard to increase compatibility among smart home products, with security as a fundamental design tenet. Zigbee Alliance board member companies such as IKEA, Legrand, NXP Semiconductors, Resideo, Samsung SmartThings, Schneider Electric, Signify (formerly Philips Lighting), Silicon Labs, Somfy, and Wulian are also onboard to join the working group and contribute to the project. The goal of the Connected Home over IP project is to simplify development for manufacturers and increase compatibility for consumers. The project is built around a shared belief that smart home devices should be secure, reliable, and seamless to use. By building upon Internet Protocol (IP), the project aims to enable communication across smart home devices, mobile apps, and cloud services and to define a specific set of IP-based networking technologies for device certification. The industry working group will take an open-source approach for the development and implementation of a new, unified connectivity protocol. The project intends to use contributions from market-tested smart home technologies from Amazon, Apple, Google, Zigbee Alliance, and others. The decision to leverage these technologies is expected to accelerate the development of the protocol, and deliver benefits to manufacturers and consumers faster.
Amazon.com Inc. /zigman2/quotes/210331248/composite AMZN +2.49% announced the expansion of the Fire TV Edition program, delivering a richer experience and more opportunities for developers, operators, device makers and manufacturers across multiple categories including automotive, smart TVs, soundbars and streaming media players. Fire TV has passed more than 40 million active users, and customers globally have access to tens of thousands of channels, apps, Alexa skills and more. With this expanded Fire TV Edition, it will be even easier for device makers to integrate Fire TV into their products, with new tools and services for each category that will enable companies to bring tailored entertainment experiences and great content to their customers. "At CES 2017, we announced the first Fire TV Edition smart TV. Now, just three years later, Fire TV Edition has grown into a worldwide program which will include more than 150 Fire TV Edition models across more than ten countries by the end of the year," said Marc Whitten, Vice President, Amazon Fire TV. "Our expanded Fire TV Edition program provides companies with the services and tools they need to bring Fire TV to more categories and more screens."
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