NetworkNewsWire
Editorial Coverage: 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.
Sub5
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.
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