ARway Corporation (CSE:ARWY, OTC:ARWYF) said it has filed the first in a series of patents around its technology, with a provisional utility patent titled ‘System & method for generating 3D digital twins from property floorplan images for Augmented Reality systems’, filed with the United States Patent and Trademark Office (USPTO).
This is a crucial step in advancing ARway's digital twin disruptive technology which eliminates the complexity and expense of creating digital environments with hardware like BLE beacons, Ultra Wide Band, satellite technology as well as laser and LiDAR scanners.
This technology is a foundational key part of the value proposition of the ARway platform and positions the company at the forefront of the $44 billion global indoor positioning and indoor navigation (IPIN) market. With this patent filing, ARway said it is poised to revolutionize indoor navigation with its no-code, no-hardware spatial computing platform.
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In a statement, ARway CEO Evan Gappelberg commented: "We are excited to announce this first in a series of planned patent filing for ARway's digital twin technology. We believe that this technology will become a cornerstone of our ARway platform and help us further establish the company as a leader in the global indoor positioning and indoor navigation market. This market represents a massive revenue opportunity for ARway as the company aims on becoming the leading service provider for indoor navigation across all industries."
ARway's technology transforms two-dimensional floor plans and architectural drawings into 3D digital twins that serve as an accurate reference model for remote AR content authoring. The ARway 'Map' in the Creator Portal is representative of the real-world size and scale of the property, ensuring accurate authoring of AR scenes. ARway’s technology eliminates the complexity of creating digital environments with expensive hardware and scanners. These digital environments for authoring are also generated without writing code making it vastly more accessible for the user with unmatched intuitiveness.
Creating digital twins of physical environments is a necessary reference for placing digital content accurately in AR environments, and ARway's technology provides a novel way to accomplish this. ARway creates the representative digital twin of a property by processing floor plans and architectural drawings as the reference.
Floorplans are 2D by default and the ARway converts these artifacts for use in 3D environments by combining and transforming position data from the real world and image pixels of the floorplan in a 3D engine. According to research from Technavio, IPIN will grow by US$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.
ARway is an AI-powered augmented reality (AR) navigation 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.
Contact the author at jon.hopkins@proactiveinvestors.com