ARway Corporation (CSE:ARWY, OTC:ARWYF) revealed that it has signed five new deals for its Software Development Kit (SDK), which showcases the increasing demand for this disruptive technology.
Since its SDK was released on January 31, 2023, the company has been experiencing a wave of demand from resellers, enterprise corporations and brands, which is expected to drive significant revenue in 2023.
According to research from Technavio, the $44 billion global indoor positioning and indoor navigation (IPIN) market will grow by US$3.03 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.
READ: ARway Corporation files the first in a series of patents around its technology
The new deals are:
- MPSKIN - SDK Partner: Using the ARway platform for existing map management of virtual tours and implementing new augmented reality tours on site at museums & art Galleries
- The TRIBE - SDK Partner: Using ARway to build a custom AR-powered app for their marketing agency to showcase capabilities to clients
- Suggesto - SDK Partner: Using ARway for a new experiential location-based game for its local customers in Italy
- ENCORE EAS: Entertainment Technology Provider based in MENA. Using ARway in Airports for Wayfinding and Guided tours.
- Rayqube - SDK Partner: Agency based in Dubai building an experiential AR app for some of their select client locations to drive social engagement/sharing
The deals range in size from $600-$10,000 based on the usage of the platform, and are within various industries representing a wide range of use cases for ARway technology.
The company said it is especially seeing significant and accelerating deals from augmented reality agencies. These creative agencies already work with dozens or even hundreds of customers and brands that want and need Arway’s wayfinding technology. By subscribing to the ARway platform the agency can demonstrate the ARway capabilities to their clients and act as a reseller for ARway’s solution.
ARway’s SDK 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 and agencies will be able to develop white-label and private-label apps and access ARway APIs to author maps using the Web Creator Portal.
ARway is an AI-powered augmented reality 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