VANCOUVER: NexTech AR Solutions announced that Fenestration Digital, one the UK’s leading construction & media platforms, has chosen InfernoAR for five virtual trade show events in 2020/21 contracted at over $280,000.
The events will have sponsorship opportunities with virtual booths and AR, potentially increasing the value of the deal significantly.
Fenestration Digital is the leading UK industry body for the window industry, which is worth $7 billion a year in the UK alone. Fenestration Digital provides a comprehensive media platform, guidance and awards covering the UK fenestration industry.
Lee Clarke, CEO of Fenestration Digital comments, “FenDigital decided to partner with NexTech after a rigorous selection process for five initial virtual trade shows in 2020/21. We are thrilled with the InfernoAR platform and the guidance offered so far by the NexTech team. We see NexTech as the best in the world at virtual events and augmented reality and the perfect partner to reflect our position as the leader of the UK’s fenestration industry.”
According to Grandview Research the global virtual events market in 2020 is $90 billion and expected to reach more than $400 billion by 2027, growing at a 23% CAGR. With NexTech’s InfernoAR platform having augmented reality, AI, end to-end encryption and built in language translation for 64 languages, NexTech is well positioned to rapidly take market share as the growth, and digital transformation accelerates globally.
Evan Gappelberg, CEO of NexTech comments, “We are super excited to announce this deal since it’s both international and marks our largest single client win to date. We are now seeing larger deals as well as deal flow from repeating customers which is a true testament of our InfernoAR platform and of our team delivering on our mission to be ‘best in class.’ We are experiencing significant business momentum in North America and in the EMEA (Europe, the Middle East and Africa) region. We continue to execute on our business plan which is to invest in our business with the rapid build-out of our AR and video confernecing technology as well as the rapid hiring of talent to meet the ever growing demand for our products and services.”
NexTech is now an approved Microsoft Partner creating enormous new business opportunities for the company. This partnership provides access to the Azure Marketplace so that InfernoAR can be sold directly through the Marketplace.
NexTech is one of the leaders in the rapidly growing Augmented Reality market estimated to grow from USD $10.7B in 2019 and projected to reach USD $72.7B by 2024 according to Markets & Markets Research; it is expected to grow at a CAGR of 46.6% from 2019 to 2024.
