ARway Corp Launches Augmented Reality Wayfinding Pilot In 400,000 Sq Ft Mall

Rhea-AI Summary

ARway Corporation (OTC PINK:ARWYF) has commenced a pilot program for its augmented reality (AR) wayfinding solution at a 400,000 sq ft mall. The initiative aims to enhance visitor experiences through immersive AR navigation and develop programmatic AR ads for brands. CEO Evan Gappelberg anticipates over 100 pilot programs globally, expecting a conversion rate exceeding 90% into long-term contracts. The company sees significant revenue opportunities as the global indoor navigation market is projected to grow by USD 23.03 billion by 2025.

Positive

• Successful pilot mapping of a 400,000 sq ft mall for AR wayfinding.
• CEO projects over 100 pilot programs globally, with a 90% conversion rate into contracts.
• Pilot programs are paid and last 30-90 days.

Negative

• None.

Company Has begun Testing Programmatic AR Ads In Wayfinding For Brands

TORONTO, ON / ACCESSWIRE / December 12, 2022 / ARway Corporation ("ARway" or the "Company") (CSE:ARWY), (OTC PINK:ARWYF) (FSE:E65) is disrupting the Augmented Reality Wayfinding market with a no-code, no beacon spatial computing platform enabled by visual marker tracking. The Company is pleased to announce it has successfully spatially mapped a 400,000 sq ft mall for a pilot project that is underway, 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 to over a dozen additional malls controlled by this same company.

Evan Gappelberg, CEO of ARway, comments "We anticipate having over 100 pilot programs in play over the coming months which is extremely positive since I expect a conversion of 90%+ into multi-year contracts." He continues, "Our pilot programs are paid-for programs which can last anywhere from 30-90 days. These pilot programs are starting to happen on a global scale and represent just the beginning of ARway's wayfinding journey".

Today's pilot announcement relates to a large property group owner looking to elevate the visitor experience at their chain of malls with immersive AR experiences. After researching the market they selected ARway's solution for the superior Augmented Reality enhanced wayfinding user experience and simplicity of implementation. They are running the pilot spread out on over 400,000 sq ft which is just at one of their properties. The mall is a community-oriented shopping, lifestyle and entertainment destination, home to 53 international brands.

The goals of the pilot are to:

• Provide a ‘digital concierge' to visitors with AR navigation to shops and amenities
• Develop a programmatic AR ad service for brands and tenants.
• Monetize the malls ‘air space' with AR banners and promotions, exclusive offers and AR gamification.
• Collect analytics data, test visitor behaviour and adoption
• Develop a robust implementation plan across other shopping malls and stores

ARway's is engaged in a number of substantial pilot project discussions which are expected to be announced shortly. These pilot programs span several countries across the globe and include multiple industries; retail, university campuses, museums, and airports, showcasing ARway's wide range of applications.

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.

To learn more about ARway, please follow on Social Media: Twitter, YouTube, Instagram, LinkedIn, and Facebook, and visit our website: www.arway.ai

For further information, please contact:

Investor Relations Contact
Julia Viola
investor.relations@arway.ai

ARway Corporation
Evan Gappelberg
CEO and Director
866-ARITIZE (274-8493)

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.

Mobile App

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.

Download the Mobile App

Apple iOs - click here
Google Play Store - click here

ARwayKit SDK

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 (OTCQB: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

Forward-looking Statements

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

View source version on accesswire.com:
https://www.accesswire.com/731215/ARway-Corp-Launches-Augmented-Reality-Wayfinding-Pilot-In-400000-Sq-Ft-Mall

FAQ

What is ARway Corporation's recent pilot program?

ARway Corporation launched a pilot program for its augmented reality wayfinding solution at a 400,000 sq ft mall.

What are the expected outcomes of the pilot program?

If successful, ARway anticipates rolling out its solution to over a dozen additional malls controlled by the same company.

How many pilot programs does ARway project to have?

ARway expects to have over 100 pilot programs globally in the coming months.

What is the expected conversion rate of ARway's pilot programs?

CEO Evan Gappelberg expects a conversion rate of over 90% into multi-year contracts.

What is the projected growth of the indoor navigation market?

The global indoor positioning and navigation market is projected to grow by USD 23.03 billion from 2020 to 2025.