NexTech’s InfernoAR to host Virtual Conference at Carnegie Mellon

Paradigm Shift to Virtual Events, Remote Education and AR Accelerating

VANCOUVER, British Columbia, Aug. 27, 2020 (GLOBE NEWSWIRE) -- NexTech AR Solutions (NexTech) (OTCQB: NEXCF) (CSE: NTAR) (FSE: N29), an emerging leader in augmented reality for eCommerce, AR learning applications, AR-enhanced video conferencing and virtual events is pleased to announce that Carnegie Mellon University has chosen NexTech’s InfernoAR platform for a virtual series beginning next month.

Carnegie Mellon, a globally recognized leader in higher education, will host its third-annual INTERSECT@CMU Conference beginning on Thursday, September 10, 2020.  The virtual conference series will continue throughout the month and into October, featuring conversations and panel discussions about the COVID-19 pandemic's long-term global effects on four foundational elements of society: health and healthcare, education, the economy, and sustainability. A university-wide effort supported by all seven of CMU’s colleges, this timely conference gathers thought leaders of disparate disciplines and perspectives from within Carnegie Mellon and beyond to explore the impact of COVID-19 on the future of business, technology, and society.

Evan Gappelberg, CEO of NexTech comments, “We are thrilled to be working with such an esteemed university as Carnegie Mellon and are looking forward to expanding on this first series of events.” He continues, “COVID-19 has created a huge challenge for learning institutions globally especially with labs where student and subject matter interaction is so critical to learning. Our InfernoAR platform is perfectly suited to solve this challenge by offering not only video learning but augmented reality for 3D volumetric object interactions.”

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.

The company is pursuing four verticals:

InfernoAR:  An advanced Augmented Reality and Video Learning Experience Platform for Events, is a SaaS video platform that integrates Interactive Video, Artificial Intelligence and Augmented Reality in one secure platform to allow enterprises the ability to create the world’s most engaging virtual event management and learning experiences. Automated closed captions and translations to over 64 languages. According to Grandview Research the global virtual events market in 2020 is $90B and expected to reach more than $400B 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, the company is well positioned to rapidly take market share as the growth accelerates globally.