PALM BEACH, Florida, Jan. 22, 2020 /PRNewswire/ -- Creating simulated worlds, and overlaying digital information in real-world settings, virtual reality (VR) and augmented reality (AR) have become major industry disruptors. So much so, the industry may soon be worth $80 billion over the next five years, according to Goldman Sachs, as noted by Forbes. However, if VR/AR sees rapid adoption, it could be worth up to $182 billion, as it disrupts multi-billion-dollar industries, including mining, education, the government, the military, retail, and even the video game industry because it's the "first consumer market to develop VR products and establish a community of users," as also highlighted by Forbes. Better, venture capital firms have invested more than $3.5 billion in VR/AR over the last two years with several companies leading the charge, including NexTech AR Solutions (OTCQB:NEXCF)(CSE: NTAR), Alphabet Inc. (NASDAQ:GOOG), Facebook Inc. (NASDAQ:FB), GoPro Inc. (NASDAQ:GPRO), and Advanced Micro Devices Inc. (NASDAQ:AMD).
NexTech AR Solutions (OTCQB:NEXCF)(CSE: NTAR) BREAKING NEWS: NexTech AR Solutions, the leader in augmented reality (AR) for eCommerce and AR learning applications just announced that it's preparing to launch a Virtual Reality (VR) division called VRitize. The new VRitize division will help the company achieve its projected revenue goal of $20 million in 2020 by working side by side with the ARitize division utilizing many of the same 3D assets created for AR, only now in a fully immersive new and exciting VR experience for in store retail. V-commerce has been coined as a way to create virtual stores where a customer could choose and buy products virtually in 3D. VR in retail is predicted to reduce marketing costs, reduce product returns and offer efficient analytics and data which is very similar to the AR value proposition for E-commerce. With ARitize and now VRitize Nextech has positioned itself at the intersection and transformation of the entire $3.7 trillion-dollar (Statista) retail ecosystem with the industry's first state of the art one-stop E-commerce, V-commerce AR/VR solution.
Evan Gappelberg CEO of Nextech commented "New AR/VR technologies are starting to transform the multi-trillion dollar retail industry, just like Wamnamaker changed the game when he opened the first department store in 1876 then Sears with its massive catalog, next came the internet and Amazon which revolutionized retail with e-commerce, now we are entering a 4th transformational wave where AR/VR and 3D content creation are becoming essential to merchandising products both online and in bricks and mortar stores. Nextech sits right at the forefront of this massive opportunity and tidal wave of innovation which is going to completely change the way we shop over the next few years." Having Virtual Reality (VR) capabilities is part of the company's omni-channel platform approach which includes: AR for e-commerce, AR in Chat, its ARitize App and AR University for education and training. The new VRitize platform will include an app for both iOS and Android, will work on most if not all VR headsets including Facebook's Oculus and will continue to leverage all current 3D asset creation technology as well as it's soon to be launched 3D ad network, opening up a major new revenue channel in 2020 and beyond. The VRitize platform will be able to utilize the 3D/AR assets the company has already created as well as new assets across both its ARitize platform as well as on its VRitize platform creating an industry first one-stop-shop for AR/VR. Evan Gappelberg, CEO of NexTech AR comments "By adding VR to our product mix we are positioning Nextech as the industry leader set to dominate both the AR and VR industry for retail." He continues, "We are super-excited to be able to leverage our growing 3D/AR library of assets and technical capabilities into Virtual Reality which complements our AR technology stack and represents another multi-billion dollar vertical for Nextech."
Other related developments from around the markets include:
Alphabet Inc. (NASDAQ:GOOG) will hold its quarterly conference call to discuss fourth quarter 2019 financial results on Monday, February 3, at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time). The live webcast of the earnings conference call can be accessed here. A replay of the webcast will be available through the same link following the conference call.
Facebook Inc. (NASDAQ:FB) announced today that the company's fourth quarter and full year 2019 financial results will be released after market close on Wednesday, January 29, 2020. Facebook will host a conference call to discuss its results at 2 p.m. PT / 5 p.m. ET the same day. The live webcast of the call can be accessed at the Facebook Investor Relations website at investor.fb.com, along with the company's earnings press release, financial tables, and slide presentation.
GoPro Inc. (NASDAQ:GPRO) announced that it will release its financial results for the fourth quarter and full year ended December 31, 2019, after the market closes on February 5, 2020. GoPro management will host a conference call and live webcast for analysts and investors on February 5, 2020 at 2 p.m. Pacific Time (5 p.m. Eastern Time) to discuss the Company's financial results. A live webcast of the conference call will be accessible on the "Events & Presentations" section of the Company's website at https://investor.gopro.com.
Advanced Micro Devices Inc. (NASDAQ:AMD) announced that its EPYC processors have been selected by the European Centre for Medium-Range Weather Forecasts (ECMWF) to accelerate its new world-leading supercomputer, based on Atos's latest BullSequana XH2000 technology, for one of the most powerful meteorological supercomputers in the world. Once operational in 2021, the supercomputer will allow ECMWF to run its predictions at a higher resolution, of around 10km, offering reliable, advanced numerical predictions about the occurrence and intensity of extreme weather events ahead of time."By leveraging our high-performance AMD EPYC server processors, the Atos supercomputer can enable significant improvements in weather forecasting, helping to increase the accuracy of weather predictions around the world," said Forrest Norrod, Senior Vice President and General Manager, Data Center and Embedded Solutions Business Group. "The real-time data powered by AMD EPYC and delivered by the supercomputer at ECMWF has the potential to decrease the impact of severe weather events on peoples' lives."
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