ARway (CSE:ARWY) Corporation announced that it has upgraded its visual positioning system (VPS) to incorporate the use of multiple QR codes in a step towards the mass adoption of its augmented reality (AR) wayfinding.
Essentially, utilizing multiple QR codes enables localization from multiple locations within a map at once. Users can now access AR wayfinding at a facility from multiple access points at large multi-purpose facilities across multiple floors.
This enhancement provides greater flexibility for property owners and brands to deploy wayfinding and AR experiences across their venues, further driving the rapid adoption and seamless movement and navigation of visitors using ARway (CSE:ARWY), the company said.
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With these upgrades, ARway is positioned to make an impact on two markets: indoor navigation and spatial computing, the company said.
Citing research from Technavio, "the global indoor positioning and indoor navigation (IPIN) market size 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."
This represents a substantial revenue opportunity for ARway, which aims to become the leading service provider for indoor navigation across all industries.
Elsewhere, ARway has granted 2,730,000 stock options to directors, officers, employees and consultants of the company. The options vest over three years, at a price of C$0.91 per share.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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