The pandemic has propped up the demand for immersive AR video experiences across virtual events, telehealth and remote learning. Pure-play AR startup NexTech posts strong sales just a month after launching its AR-based video conferencing solution ScreenAR.Â
It took a global pandemic to find a new use case for Augmented Reality (AR). So far, AR has been heavily used by apps like SnapChat for powering more real-life digital interactions. Video-based AR is now poised to play a pivotal role in driving telehealth, virtual events and immersive remote instructions for thousands of learners.Â Â
NexTech, a provider of augmented reality for ecommerce, AR learning applications, AR-enhanced video conferencing and virtual events launched ScreenAR, its proprietary AR solution for video. ScreenAR meshes collaborative video conferencing with AR through ScreenAR’s integration with InfernoAR, a platform for interactive AR for video applications.Â
Just a month into its release, the platform has posted strong salesOpens a new window , generating over $100,000. Though video-AR technology is in a nascent stage with a wide scope for improvement, there is a great deal of enthusiasm for moreÂ immersive video conferencingÂ solutions. â€œBringing video conferencing and collaboration features to the forefront as a first class native experience in the platform is a natural progression,â€ said InfernoAR CTO Mark Pace.
Paul Duffy, President of NexTech said, â€œDemand continues to soar for our unique offer of virtual events with Augmented Reality through InfernoAR. Our clients find that they are able to literally augment their existing 2D presentations with 3D photorealistic immersive storytelling, leading to every manner of event utilizing our augmented reality through ScreenAR, 360 AR Portals and other forms of interactive AR experiences.â€
Nextech’s clients range from customers in edtech, telemedicine, one to one networking, to traditional video conferencing and large audience events for enterprises. The AR startup estimates that edtech is a $341 billionOpens a new window opportunity by 2025.
With demand for AR-based video conferencing solutions rising, it is no surprise that NexTech revenue surged 290% to $3.5 million in Q2 2020. Evan Gappelberg, CEO at Nextech said, â€œWith our growing sales force, pipeline of deals and quotes I’m estimating that we hit $5 million in revenue for Q3, which almost equals our entire year’s revenue in 2019 of $6million.â€
He further adds, â€œWith our innovative AR technology solutions we firmly believe that Nextech has a competitive edge in the market and that â€˜ScreenAR’ will only accelerate the massive adoption already underway of our InfernoAR software.â€
The growing demand for AR solutions will drive further breakthroughs in computer vision and 3D motion tracking and help users become more productive in remote work environments. But we are yet to find whether AR-based video conferencing will be able to keep the momentum even after the pandemic ends.Â
Let us know if you liked this news on LinkedInOpens a new window , TwitterOpens a new window , or FacebookOpens a new window . We would love to hear from you!