ARway SDK Gaining Momentum in the $23 Billion Wayfinding Market
TORONTO, ON / ACCESSWIRE / January 20, 2023 / ARway Corporation ('ARway' or the 'Company') (CSE:ARWY)(OTC PINK:ARWYF)(FSE:E65) is disrupting the augmented reality (AR) wayfinding market with a no-code, no beacon spatial computing platform enabled by visual marker tracking. ARway is pleased to announce the Company has signed multiple pilot projects for augmented reality indoor wayfinding and is now experiencing a surge in demand for its AR wayfinding services. Once converted to long-term contracts, these pilot programs have significant revenue implications for the Company.
ARway's pilot projects span several countries across the globe and include multiple industries including retail, university campuses, museums, and airports, showcasing the wide range of applications of ARway.
The pilot projects are as follows:
- Large Hospital Group - ARway will deploy augmented reality wayfinding within a single 3-story hospital covering over 30,000 sq ft. This pilot project has the potential to rollout to 200 hospitals within the same hospital group.
- Spain Airport - In this airport, passengers will be able to use AR wayfinding from the arrival gate, to baggage claim to transportation depot using image tracking technology. This pilot project will be using ARwayKit SDK to integrate AR wayfinding into the transportation provider's mobile app. Watch a video showcasing the pilot project - click here
- Brazil Airport - In this airport, passengers will use AR wayfinding to the ground transportation depot from baggage claim. The ARwayKit SDK will integrate AR wayfinding into a car rental company's mobile app.
- 400,000 sq ft Dubai Mall - As announced on December 12, 2022, ARway successfully spatially mapped a 400,000 sq ft mall for a pilot project, showcasing the Company's breakthrough augmented reality indoor wayfinding solution. If the pilot is successful, it's anticipated that the ARway solution will be rolled out into a dozen+ additional malls controlled by the same ownership company. With ARway's technology, implementation will include a digital concierge with augmented reality wayfinding and marketing campaigns. This pilot will test the adoption of AR enhanced wayfinding, gamification and marketing content by mall visitors.
Evan Gappelberg, CEO of ARway, commented, 'We are fielding a steady flow of requests from Fortune 500 companies and have now started to hire an enterprise sales force to help address this rapidly growing demand. We expect to have over 100+ pilot programs in play over the coming months and expect many to convert into full-scale projects.'
He continued, 'We are working on large individual projects that, once commercialized, can generate as much as $250,000/month in MRR or $3 million in ARR. As we book these pilot programs and listen to the customers' needs, we are convinced that ARway will become the de facto standard for AR wayfinding in 2023. We are extremely excited to have so much early demand, as we are just at the beginning of ARway's wayfinding journey.'
The ARway offering has an unlimited number of use cases for augmenting physical spaces in the metaverse, consisting of indoor navigation with AR activations, which significantly improves visitor experiences in large and complex spaces.
According to research fom Technavio, 'The global indoor positioning and indoor navigation (IPIN) market size will grow by USD 23.03 billion from 2020 to 2025, and the growth momentum of the market will accelerate at a CAGR of 33.21% during the forecast period.' The market growth will be led by North America, as this region will account for 40% of the market's growth during the forecast period. This represents a substantial revenue opportunity for ARway as it aims on becoming the leading service provider for indoor navigation across all industries.
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About ARway Corp
ARway is a no-code spatial computing platform for the real-world Metaverse. It enables AR-enhanced indoor navigation and wayfinding solutions for large, multi-purpose venues enabled by marker-based tracking using QR codes. Visitors can access a venue map by scanning a QR code with their smartphone upon entering the venue to navigate to any Point of Interest (POI) with step by step directions, learn information about those POIs, and interact with rich AR content and experiences along the way.
The ARway offering has an unlimited number of use cases for augmenting physical spaces in the metaverse, consisting of indoor navigation with AR activations to improve the visitor experience in large and complex spaces. With value propositions spanning multiple industries and use cases, ARway leverages Nextech's 3D/AR technology solutions to new substantial markets, for use by creators, brands, and companies.
The ARway Platform Includes:
Web Creator Platform
The Web-Based Creator Platform provides 'advanced' authoring capabilities compared to the mobile app, including the ability for creators to upload their own OBJ/GLB files, and create their own 3D objects. Placing content in a large area using only mobile app required the user to physically be in the specific location which was unscalable. The web studio allows the user to place and author content remotely and at scale.
With the ARway mobile app, anyone can spatially map their location within minutes using their smartphone, and populate it with interactive 3D content, augmented reality wayfinding, audio, text, images, and more. Nextech AR provides several pre-loaded 3D objects which creators can leverage to populate their metaverse.
The Software Development Kit contains code libraries and API information that allows developers to build their own white label & private label mobile apps on both iOs and Android leveraging ARway's technology and creator tools to build AR wayfinding and spatial experiences. Creators will be able to develop white label and private label apps and access ARway APIs to author maps using the Web Creator Portal. The SDK features the latest and greatest of the ARway mobile app.
Nextech AR Solutions
On October 26, 2022, ARway Corp. was spun-out from its parent Company, Nextech AR Solutions (OTCQX: NEXCF) (CSE: NTAR) (FSE: EP2). Nextech AR retained a control ownership in ARway Corp. with 13 million shares, or a 50% stake. Nextech AR Solutions is a Metaverse Company and leading provider of augmented reality ('AR') experience technologies and 3D model services. Nextech's AI-powered 3D modeling platform, 'ARItize3D' has contracts with; AMZN, KSS, CB2, Genuine Parts & many others. To learn more about Nextech AR, visit www.nextechar.com.
The CSE 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' or variations of such words and phrases or statements that certain actions, events or results 'will' occur. Forward-looking statements regarding the completion of the transaction are subject to known and unknown risks, uncertainties and other factors. There can be no assurance that such statements will prove to be accurate, as 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. ARway Corp. 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: ARway Corporation
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