SANTA CRUZ, Calif. and TORONTO, July 13, 2020 (GLOBE NEWSWIRE) -- NexTech AR Solutions (NexTech) (OTCQB: NEXCF) (CSE: NTAR) (FSE: N29), an emerging leader in augmented reality for eCommerce, AR learning applications, and AR-enhanced video conferencing and virtual events is pleased to announce that it is launching a new video conferencing software into its InfernoAR platform. The new video conferencing features will integrate collaborative classroom learning, one to one networking and traditional video conferencing directly into the platform letting users seamlessly launch and manage both collaborative experiences and large audience events directly from InfernoAR. This new capability addresses the global Edtech market expected to hit $345 billion by 2025 (according to Business Insider) and the fast growing Telemedicine market which according to Statista was valued at some $45 billion U.S. dollars.
InfernoAR CTO Mark Pace comments, "Bringing video conferencing and collaboration features to the forefront as a first class native experience in the platform is a natural progression, as we continuously evolve InfernoAR into best in class leader". Having these technologies in house and built into our platform will allow us to realize future AR features as products like AR glasses become widespread. Combining InfernoAR large audience events, video conferencing and collaborative experiences with AR brings the platform and the user experience to a level unseen in any other product in our industry."
Evan Gappelberg, Chief Executive Officer, NexTech AR noted "This new video conferencing capability is a fantastic addition to our already robust InfernoAR platform. InfernoAR is being chosen by more and more customers because of its full spectrum of offerings including end to end security encryption, Interactive Video, Artificial Intelligence and Augmented Reality all in one super-secure platform. He continues, "with video being the new voice during this virtual gold rush we will continue to push more interactive and immersive video centric features and innovations creating long term value and sustainability for our business. We expect to have this new video conferencing software in the market by October 2020.
By integrating the collaboration and conferencing features users of InfernoAR will be able to launch interactive classrooms with the touch of a button. Breakout rooms from main conference stages are seamless and can be configured and managed directly from InfernoAR. Attendees can network face-to-face with one or more colleagues directly from attendance pages. Any of these collaborative interactions can be streamed to a global audience of thousands or hundreds of thousand viewers simply or recorded without any assistance.
InfernoAR, supports clients that require integration with enterprise systems, custom workflow, cognitive search and discovery, interactive features and secure multi-CDN streaming in front of and behind the firewall. The platform services Fortune 500 businesses like Johnson and Johnson, Viacom, Polycom and others. It's super secure with token authentication allowing the CDNs to reject serving videos to unauthorized users, by taking the JWT authentication to the edge security is pushed closer to the user and load is taken off the core application. InfernoAR has been providing top products and service in the video streaming space for 10+ years.
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About NexTech AR Solutions Corp.
NexTech is one of the leaders in the rapidly growing AR industry, estimated to hit $120 billion by 2022, according to Statista. NexTech, the first publicly traded "pure-play" AR company, began trading on the CSE on October 31st, 2018. NexTech has a two-pronged strategy for rapid growth including growth through acquisition of eCommerce businesses and growth of its omni-channel AR SaaS platform called ARitizetm.
The company is pursuing four verticals in AR.
ARitizetm For eCommerce: The company launched its technologically advanced webAR for eCommerce early in 2019 and has been rapidly signing up customers onto its SaaS platform. Customers include Walther Arms, Wright Brothers, Mr. Steak, and Budweiser. NexTech has the first ??full funnel' end-to-end eCommerce solution for the AR industry including its 3D product capture, 3D ads for Facebook and Google, ?Try it On' technology for online apparel, 3D and 360-degree product views, and ?one click buy'.
ARitizetm 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, 360, AR ads. In 2019, according to IDC, global advertising spend will be about $725 billion.
InfernoAR: the world's most advanced Augmented Reality and Video Learning Experience Platform for Events, 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 put InfernoAR in a class by itself.
ARitizetm Hollywood Studios: expected to launch in 2020, the studio has created a proprietary entertainment venue for which it is producing immersive content using 360 video, and augmented reality as the primary display platform.
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