VANCOUVER, British Columbia, Oct. 31, 2022 (GLOBE NEWSWIRE) -- ARway Corporation (CSE:ARWY) is one of the latest new listings on the Canadian Securities Exchange, following its spin off from Nextech AR Solutions. Management believes ARway is the first publicly traded, pure-play spatial computing company. ARway is disrupting the Augmented Reality Wayfinding market with its no-code, no hardware, no BLE beacon, spatial computing platform.
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Visitors can access a venue map by simply scanning a visual marker, such as a QR code, with their smartphone and navigate to any Point of Interest by following an augmented path and step-by-step directions, while interacting with rich AR content and experiences.
As a user, you can construct your own real-world metaverse with interactive spatial content. Some examples include stadiums and concert venues, events and trade shows, retail, museums and galleries, hospitality, real estate, universities and hospitals. The applications are almost unlimited.
The global indoor positioning and indoor navigation market is expected to reach US$44 Billion by 2025, representing a 7-year compound annual growth rate of 42%, according to Allied Market Research.
While ARway is focusing revenue generation towards AR wayfinding, it is finding applications of its robust AR engine in additional markets that are opening up entirely new revenue opportunities. The technology is now being used as part of the XR engine powering the music app “Encore” which opens up substantial new markets providing AR spatial activations for the music industry.
As an immature industry, AR technology, including AR software, is still waiting to be explored. According to Verified Market Research, the AR software market size alone was valued at US$8.59 Billion in 2020 and is projected to reach US$137.14 Billion by 2028, growing at a staggering compound annual growth rate of 57.21% from 2021 to 2028.
Nextech AR has retained an ownership stake of 13 million shares of ARway and is distributing 4 million additional shares, on a pro-rata basis, as a stock dividend to Nextech shareholders.
The shares are trading at $0.66. For more information, please visit the company’s website www.arway.ai, or contact investor relations at investor.relations@arway.ai.
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