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July 30, 2020, 9:48 a.m. EDT

Global Pandemic Creating a Massive $50 Billion Teleconferencing Market

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Jul 30, 2020 (Baystreet.ca via COMTEX) -- Demand for video and virtual events is only accelerating. For months, millions of people have been firing up video chats and conferences to replace meetings and events they’re unable to attend in person because of the virus. It also plays a major role in education, as well, allowing for virtual field collaboration exercises with remote classrooms and access to subject-matter experts all around the globe, as noted by Value Market Research. In addition, according to Global Market Insights, the video conferencing market could exceed $50 billion in the next six years thanks in part to the virus. Already, major corporations around the globe have indicated that they do not foresee a return to pre-COVID ways of working. With demand only likely to pick up momentum, some of the top companies to keep an eye on include NexTech AR Solutions (otcqb:NEXCF) /zigman2/quotes/208196573/delayed CA:NTAR +2.32% , Zoom Video Communications Inc. /zigman2/quotes/211319643/composite ZM +1.01% , RingCentral Inc. /zigman2/quotes/204236620/composite RNG +1.07% , Teladoc Health Inc. /zigman2/quotes/207420252/composite TDOC +0.34% , and Okta Inc. /zigman2/quotes/210420951/composite OKTA -0.23% .

NexTech AR Solutions (otcqb:NEXCF) /zigman2/quotes/208196573/delayed CA:NTAR +2.32% BREAKING NEWS: NexTech AR Solutions, an emerging leader in augmented reality for learning applications, and Ryerson University, a globally recognized leader in Higher Education with over 46,000 students have partnered to launch RALE, the Ryerson Augmented Learning Experience platform, based on NexTech’s InfernoAR. The technology license agreement has an initial value of $250,000 with the potential for more revenue tied to additional AR services. You can see a sample of the RALE here - please click to view video

The initial launch of RALE will focus on first year Chemistry, Biology and Physics students from the Faculty of Science at Ryerson and enable over 5,000 students to participate in rich, collaborative AR enhanced learning experiences during the Fall and Winter Terms.

The initial agreement calls for an annual license fee for the InfernoAR platform plus an annual license fee for the Aritize white label app plus a fee of per AR lab with an initial build of 20 labs. The potential is for the number of AR labs to run into the hundreds generating additional revenue for NexTech. The company expects to use this same business model to sign up additional Universities in Canada and throughout North America as COVID19 continues to disrupt classes and social distancing remains in place.

Dr. David Cramb, Dean of the Faculty of Science comments, “At Ryerson we took the bold step of re-imagining a virtual lab. With inputs from staff, students and faculty we designed and developed a completely collaborative environment that ensures an immersive and fun learning experience for our students. The incorporation of augmented reality into the STEM learning environment will change pedagogy forever. ”

Paul Duffy, President of NexTech comments, “A Ryerson student is a global citizen. What better way to transcend time and geography in today's COVID-culture than with Augmented Reality Holograms on the InfernoAR platform?” He continues, “each Virtual Lab has interactive videos, real-time collaborative Zoom sessions with lab technicians and fellow student lab partners complemented with AR Lab exercises that allow students to beam into their home the Lab materials required for each experiment.” You can see a sample of the RALE here - please click to view video

Evan Gappelberg, CEO of NexTech comments, “We are thrilled to be working with such an esteemed University as Ryerson”. He continues, “COVID-19 has created a huge challenge for learning institutions globally especially with labs where student and subject matter interaction is so critical to learning. Our InfernoAR platform is perfectly suited to solve this challenge by offering not only video learning but augmented reality for 3D volumetric object interactions. We think that with this use case InfernoAR is the solution not just for Ryerson but for Universities and Colleges all over the globe.”

Other related developments from around the markets include:

Zoom Video Communications Inc. /zigman2/quotes/211319643/composite ZM +1.01% announced Zoom for Home, a new category of software experiences and hardware devices to support remote work use cases. In a time where employers are grappling with what the new normal of work will look like, Zoom for Home elevates employee experiences to connect remotely and be productive. The future of knowledge work will be a hybrid of virtual and in-person experience. In a recent study by IBM, 81% of respondents—up from 75% in April—indicated they want to continue working remotely at least some of the time. More than half—61%—would like this to become their primary way of working. Major corporations around the globe have already indicated that they do not foresee a return to pre-COVID ways of working. Additionally, according to a recent study by Morning Consult, almost half of adults who are able to work remotely believe that virtual meetings are at least as effective as in-person meetings. Zoom for Home meets the needs of the present shelter-in-place and the new normal of hybrid workforces.

/zigman2/quotes/208196573/delayed
CA : Canadian Securities Exchange
$ 5.73
+0.13 +2.32%
Volume: 212,408
Sept. 30, 2020 2:49p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$408.60 million
Rev. per Employee
N/A
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/zigman2/quotes/211319643/composite
US : U.S.: Nasdaq
$ 470.21
+4.71 +1.01%
Volume: 7.68M
Sept. 30, 2020 3:13p
P/E Ratio
604.77
Dividend Yield
N/A
Market Cap
$132.40 billion
Rev. per Employee
N/A
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/zigman2/quotes/204236620/composite
US : U.S.: NYSE
$ 273.65
+2.89 +1.07%
Volume: 354,697
Sept. 30, 2020 3:13p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$24.09 billion
Rev. per Employee
$360,034
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/zigman2/quotes/207420252/composite
US : U.S.: NYSE
$ 218.08
+0.73 +0.34%
Volume: 1.97M
Sept. 30, 2020 3:13p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$17.65 billion
Rev. per Employee
$208,953
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/zigman2/quotes/210420951/composite
US : U.S.: Nasdaq
$ 213.06
-0.50 -0.23%
Volume: 422,039
Sept. 30, 2020 3:14p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$27.35 billion
Rev. per Employee
$255,768
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/zigman2/quotes/208196573/delayed
CA : Canadian Securities Exchange
$ 5.73
+0.13 +2.32%
Volume: 212,408
Sept. 30, 2020 2:49p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$408.60 million
Rev. per Employee
N/A
loading...
/zigman2/quotes/211319643/composite
US : U.S.: Nasdaq
$ 470.21
+4.71 +1.01%
Volume: 7.68M
Sept. 30, 2020 3:13p
P/E Ratio
604.77
Dividend Yield
N/A
Market Cap
$132.40 billion
Rev. per Employee
N/A
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