NetworkNewsWire Editorial Coverage
NEW YORK, June 15, 2021 /PRNewswire/ -- Last year changed the world in unexpected ways, as people and businesses looked to keep moving forward in the face of a global coronavirus pandemic. In many instances, COVID-19 simply accelerated the inevitable, such as trends towards digitization while lockdown orders were in place. Perhaps the most significant example was in education, where students from grade school to college went 100% virtual for the first time in history. Education technology, or edtech, is a hot trend that, even as the pandemic wanes, isn't showing any signs of slowing among today's generation of digitally native learners, as evidenced by analyst forecast and upstarts such as Nextech AR Solutions Corp. (CSE: NTAR) (OTCQB: NEXCF) (Profile), which is partnering with juggernaut Microsoft Corporation (NASDAQ: MSFT) for solutions to transform higher education. As it happens, Facebook Inc. (NASDAQ: FB), Alphabet Inc. (NASDAQ: GOOGL) and Coursera Inc. (NYSE: COUR) have also dedicated considerable resources reimaging education and democratizing learning for everyone, everywhere.
- The global edtech market is estimated at $106 billion and forecast to expand at a 19.9% CAGR through 2028.
- Nextech AR Solutions lists numerous leading educational institutions as clients and partners.
- The company recently launched its EdTechX platform, with customers already coming on board.
- EdTechX quickly achieved co-sell ready status with Microsoft, a partnership reserved for proven companies with highest-quality tech.
Click here to view the custom infographic of Nextech AR Solutions Corp. editorial.
EdTech: One-Third of a $340 Billion Market
Big money has gotten behind edtech, catalyzing double-digit growth. Market analysts at Grand View Research estimate the global education technology market at $106 billion for 2021, up from about $86 billion in 2020, and on track to grow 19.9% annually through 2028 as digital technology improves access to education. The movement is global, including emerging markets such as Africa where tech is filling holes in learning.
Remote learning is one thing, but the future of education involves the marriage of remote learning to next-generation technology, including augmented reality (AR). With AR, computer-generated objects are seen on a screen in real time, a technique that helps students learn in a more interactive and engaging environment. Grand View sees the global AR market growing at a spectacular 43.8% compound annual growth rate to $340.2 billion by 2028.
Nextech AR Solutions Corp. (CSE: NTAR) (OTCQB: NEXCF) is on the cutting edge of the markets as a developer and operator of AR platforms that transports 3D product visualizations, human holograms and 360° portals. The company curates its products to a diverse array of blue-chip customers, including Budweiser, JNJ and IBM, by altering e-commerce, digital advertising, hybrid virtual events (events held in a digital format blended with in-person attendance) and learning and training experiences.
Nextech solutions have been used in more than 4,100 events that have been attended by more than 10 million people. Of particular interest is the company's newly launched augmented learning platform and hybrid and virtual events products that are prime to disrupt a higher education market ripe for innovation. The platform, branded EdTechX, is gaining immediate traction.
Bring the Lab to the Kitchen Table
Nextech has already planted its flag in the university and college markets. Ryerson University, Carnegie Mellon University, University of South Florida, Université Laval (in Quebec City, Quebec), and UN Educational, Scientific and Cultural Organization (UNESCO) are only a few of those that trust Nextech for their needs. EdTechX is a comprehensive education product for global customers combining enterprise-scale video streaming, integrated assessments, augmented reality holograms and data analytics.
Applications abound for Nextech where it can provide virtual learning labs, digital courses and poster sessions, live demos and collaborations, Q&A sessions, teaching tools, downloadable course content and more, including uses outside the classroom such as homecoming events, convocations and career fairs. Using its AR and hologram technologies, Nextech worked with Ryerson to develop customized virtual labs for a several different science programs of the university.
Partnered with Microsoft for Sales
Nextech's EdTechX is a new offering; the company just launched its LiveX platform built on Microsoft Azure this month. Ryerson, Carnegie Mellon and Black Student Fund have already implemented EdTechX into their daily operations. While impressive, this is just scratching the surface, where in the United States alone there are upwards of 5,300 higher education institutes that enroll more than 19 million students.
In addition, EdTechX has achieved Microsoft's co-sell ready status, a milestone that should not go understated. A Microsoft co-seller process includes building demand, sales planning, sharing sales leads, accelerating partner-to-partner empowered selling and delivering marketplace-led commerce. This is the top tier for Microsoft partners, and qualifying puts Nextech in an elite group of global independent software vendors (ISVs) that are transforming industries.
A Microsoft co-seller agreement allows Nextech to work with Microsoft sales teams to actively fulfill customer needs globally, which speaks to the quality of EdTechX and Nextech, as Microsoft reserves this type of relationship exclusively for companies with outstanding technology and a proven customer track record.
"Nextech AR Solutions is helping education institutions digitally transform the way educators teach and the way students learn, by enabling remote experiential learning through EdTechX," said Nancy Teodoro, education partner lead at Microsoft Canada.
Clients in High-Growth Markets, CEO (Keeps) Buying
In September, the Bureau of Labor Statistics released its projections for industry growth and contraction for the next decade. As it happens, Nextech is in the catbird's seat considering that Nextech AR and digital experience platform services customers represent eight out of the top 10 for fastest-growing industries.
Investors always love to see "skin in the game" in the form of management laying out their own cash to buy shares of stock. To that end, Nextech CEO Evan Gappelberg remains "extremely excited about our business prospects," proving that optimism by yet again increasing his ownership position. At the end of May, Gappelberg exercised warrants for another $186,650, marking his seventh purchase in the last 18 months. In that time, the Nextech chief executive has bought 1.54 million shares, increasing his total holdings to 9.86 million shares. Gappelberg explained his outlook on the company in depth during a recent Nextech presentation at the 2021 LD Micro Invitational.
Regardless of its $100 billion market status, the edtech market is still in its nascency. So is AR for that matter. The beauty is that they are emerging into an audience of young adults that have known nothing but the digital world, which virtually ensures mass adoption to rapidly re-shape the higher education landscape and new brand of pedagogues in the coming years.
Microsoft Corporation (NASDAQ: MSFT) has unprecedented scale and influence to play an important - and profitable - role in the global adoption of digital education. In aggregate, millions of companies and consumers (students, teachers, schools, etc.) will leverage the Azure architecture. The company is an education advocate and active in promoting online classrooms through its Microsoft Teams for Education and providing free access to a litany of its online education and learning tools.
Facebook Inc. (NASDAQ: FB) is much more than just a social media platform and ad-revenue generating behemoth. While it doesn't take a conventional route, the company is active on many different levels in the edtech space, including its Oculus VR (virtual reality) unit that it acquired in 2014 for approximately $2 billion. Doing what it does best, Facebook uses tech to disseminate information, albeit for peer-to-peer programs for educators, policy protocols, building communities. Facebook also provides specific content to teach digital marketing to students at all levels of higher education.
Alphabet Inc. (NASDAQ: GOOGL) is the parent of Google for Education, which works with many higher education universities on different verticals in addition to offering its Google Workspace products. Many may think of just search and ads when it comes to Google, but its education unit has many successes to its name, including working with the University of South Carolina to use cloud computing to study climate change and Brown University to use VR to recreate colonial history.
Coursera Inc. (NYSE: COUR) is new to the public markets, completing its IPO on March 31 to raise $520 million by offering 15.73 million shares at $33 each. The Silicon Valley-based pure-play EdTech company offers people access to online courses and thousands of degrees from a spate of universities. Business boomed during the pandemic, with revenue climbing 59% to $293 million in 2020, although net losses grew year-over-year by $20.1 million to $66.8 million.
As it does in so many other components of life, technology has improved the value chain of education. The benefits are overarching, to say the least, and level the playing field for students of all ages in all geographic regions wishing to receive any degree that typically would have only been possible via on-campus schooling.
For more information about Nextech AR Solutions, please visit Nextech AR Solutions.
About NetworkNewsWire
NetworkNewsWire ("NNW") is a financial news and content distribution company, one of 50+ brands within the InvestorBrandNetwork ("IBN"), that provides: (1) access to a network of wire solutions via NetworkWire?to reach all target markets, industries and demographics in the most effective manner possible; (2) article and editorial syndication to 5,000+ news outlets; (3) enhanced press release solutions to ensure maximum impact; (4) social media distribution via IBN millions of social media followers; and (5) a full array of corporate communications solutions. As a multifaceted organization with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience comprising investors, consumers, journalists and the general public. By cutting through the overload of information in today's market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
To receive SMS text alerts from NetworkNewsWire, text "STOCKS" to 77948 (U.S. Mobile Phones Only)
For more information, please visit: https://www.NetworkNewsWire.com
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published:?http://NNW.fm/Disclaimer
NetworkNewsWire is part of the?InvestorBrandNetwork
DISCLAIMER: NetworkNewsWire (NNW) is the source of the Article and content set forth above. References to any issuer other than the profiled issuer are intended solely to identify industry participants and do not constitute an endorsement of any issuer and do not constitute a comparison to the profiled issuer. FN Media Group (FNM) is a third-party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated with NNW or any company mentioned herein. The commentary, views and opinions expressed in this release by NNW are solely those of NNW and are not shared by and do not reflect in any manner the views or opinions of FNM. Readers of this Article and content agree that they cannot and will not seek to hold liable NNW and FNM for any investment decisions by their readers or subscribers. NNW and FNM and their respective affiliated companies are a news dissemination and financial marketing solutions provider and are NOT registered broker-dealers/analysts/investment advisers, hold no investment licenses and may NOT sell, offer to sell or offer to buy any security.
The Article and content related to the profiled company represent the personal and subjective views of the Author, and are subject to change at any time without notice. The information provided in the Article and the content has been obtained from sources which the Author believes to be reliable. However, the Author has not independently verified or otherwise investigated all such information. None of the Author, NNW, FNM, or any of their respective affiliates, guarantee the accuracy or completeness of any such information. This Article and content are not, and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action; readers are strongly urged to speak with their own investment advisor and review all of the profiled issuer's filings made with the Securities and Exchange Commission before making any investment decisions and should understand the risks associated with an investment in the profiled issuer's securities, including, but not limited to, the complete loss of your investment.
NNW & FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and NNW and FNM undertake no obligation to update such statements.
Corporate Communications Contact:
NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
Editor@NetworkNewsWire.com
Media Contact:
FN Media Group, LLC
NNW@FinancialNewsMedia.com
+1-(954)345-0611?
