Matterport Welcomes Nominations For The 2023 Digital Twin Awards: Celebrating Innovation and Creativity In The Built World
- Matterport's sponsorship of the 2023 DTAs showcases its commitment to innovation and the digital transformation of spaces. The rapid proliferation of digital twins is attributed to the Pro3 3D camera, which has significantly accelerated capture times and fueled the company's growth to over 35 billion square feet captured to-date.
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Insights
Advancements in technology, such as Matterport's Pro3 camera, are critical in driving the digital transformation of industries. The Pro3's ability to capture 3D data quickly and accurately is a significant step forward in the creation of digital twins, which are virtual replicas of physical spaces. This technology has widespread applications, from property marketing to facilities management and construction management. By reducing capture times and increasing accuracy, Matterport can offer more efficient services to its customers, potentially leading to increased adoption and market penetration.
The growth in square footage captured by Matterport, as indicated by the year-over-year increase of more than 9 billion square feet, signifies a growing demand for digital twin technology. This expansion reflects positively on Matterport's business performance and could signal to investors the company's growing influence in the market. As industries continue to embrace digital solutions for cost reduction and enhanced insights, Matterport's role as a provider of such technologies may result in an upward trajectory for its business and stock valuation.
The proliferation of digital twin technology and Matterport's strategic positioning as a leader in this space is of particular interest to investors. The company's financial health can be indirectly assessed by the adoption rates of its latest technologies, such as the Pro3 camera. The reported increase in square footage captured implies higher usage rates, which could translate to increased revenue streams. This metric is a vital indicator of the company's performance and future growth potential.
Furthermore, Matterport's involvement in the Digital Twin Awards may serve as a marketing tool, enhancing its brand recognition and demonstrating its commitment to innovation. This can have positive implications for customer acquisition and retention. However, investors should also consider the costs associated with rapid technology development and market expansion, as these could impact profit margins. A detailed analysis of the company's financial statements would be necessary to evaluate the net effect on its profitability.
The digital twin concept is revolutionizing various sectors by enabling virtual representation and management of physical assets. Matterport's role in this space, particularly with the introduction of the Pro3 camera, is noteworthy. The camera's technical capabilities, such as the sub-20-second sweep time and long-range 3D data capture, are likely to set new industry standards. These features could potentially disrupt the market by raising customer expectations for speed and accuracy in digital twin solutions.
Moreover, the Digital Twin Awards, sponsored by Matterport, highlight the company's influence in shaping the digital twin landscape. As companies across different industries recognize the value of digital twins for operational efficiency and strategic planning, Matterport's innovative solutions might see increased demand. This trend is crucial for stakeholders to monitor, as it could have a substantial impact on the competitive dynamics within the technology industry.
In its third year, the 2023 Digital Twin Awards stand as a testament to the diversity of buildings and spaces captured, preserved, and shared through the Matterport platform
SUNNYVALE, Calif., Dec. 27, 2023 (GLOBE NEWSWIRE) -- Matterport, Inc. (Nasdaq: MTTR) is a proud sponsor and panel judge of the 2023 Digital Twins Awards (DTAs), powered by Matterport partner CAPTUR3D, celebrating the innovation thriving within the global Matterport community. Now in its third year, individuals and organizations from diverse industries will have an opportunity to showcase their creativity by submitting their most interesting digital twins that were created in 2023.
Matterport digital twins have been explored by millions around the world for both business and entertainment, from powering operations for global enterprises to immersing people in world-famous landmarks such as the Pyramids of Giza.
The rapid proliferation of digital twins over the past year is due in large part to the Pro3, Matterport’s newest and fastest 3D camera. Capable of capturing 3D data up to 100 meters away in under 20 seconds per sweep, Pro3 speeds up the scanning process, providing the highest accuracy scans for both indoor and outdoor spaces. The Pro3 has vastly accelerated capture times, fueling Matterport’s growth to more than 35 billion square feet captured to-date, an increase of more than 9 billion square feet year-over-year.
“The 2023 Digital Twin Awards showcase the vibrant intersection of creativity and technology in the digital transformation of spaces with Matterport,” said RJ Pittman, Chairman and CEO, Matterport. “Each entry highlights the boundless potential of digital twins, marking a new era in how we experience and interact with the world.”
Companies small and large, including the Fortune 1000, turn to Matterport for innovative solutions for Property Marketing, Facilities Management and Design & Construction Management, using digital twins to reduce costs while extracting deeper insights about their properties throughout every stage of the building lifecycle.
The Digital Twin Awards are an opportunity to highlight the important landmarks, architecture, cultural and historical wonders, and unique destinations captured by the Matterport community in more than 170 countries around the world. As the largest digital twin awards event worldwide, all Matterport users and partners are invited to participate– from developers, to photographers, capture technicians or enthusiasts around the world.
This year’s award categories will include:
- Best Digital Twin of 2023
- Best Digital Twin for Real Estate
- Best Digital Twin for Arts & Culture
- Best Digital Twin for Education
- Most Unique Use of Matterport
- NEW: Best Digital Twin for Historical Preservation
Submissions for the DTAs 2023 are open until January 15, 2024, with public voting opening February 2-18, 2024. Entrants can submit up to one entry per category, with judges shortlisting the five best nominees from each category. The final selection of winners will be made by the judging panel, and the announcement of winners will be made on February 23, 2024.
For submission details and to participate in the Digital Twin Awards 2023, please visit https://www.digitaltwinawards.com/2023/upload-entry.
About Matterport
Matterport, Inc. (Nasdaq: MTTR) is leading the digital transformation of the built world. Our groundbreaking digital twin platform turns buildings into data to make every space more valuable and accessible. Millions of buildings in more than 177 countries have been transformed into immersive Matterport digital twins to improve every part of the building lifecycle from planning, construction, and operations to documentation, appraisal and marketing. Learn more at matterport.com and browse a gallery of digital twins.
©2023 Matterport, Inc. All rights reserved. Matterport is a registered trademark and the Matterport logo is a trademark of Matterport, Inc. All other marks are the property of their respective owners.
Media Contact:
press@matterport.com
Investor Contact:
ir@matterport.com
FAQ
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