TORONTO–(BUSINESS WIRE)–Nextech AR Solutions Corp. (“Nextech” or the “Company”) (OTCQB: NEXCF) (NEO: NTAR) (CSE: NTAR) (FSE: N29), a Metaverse company and leading provider of augmented reality (“AR”) experience technologies and services is pleased to announce the signing of a ARitize 3D 3D modeling contract and bespoke decorator with a major automotive parts distributor, Genuine Parts Company.
Genuine Parts Company, founded in 1928, is a global service organization engaged in the distribution of automotive and industrial replacement parts. The company serves hundreds of thousands of customers from a network of more than 10,000 locations in North America, Europe and Australasia and has approximately 50,000 employees.
Of the society ARitize 3D The technology enables large, medium and small e-commerce businesses to convert 2D images into 3D models at scale, using Nextech’s AI-powered technology. Nextech has already signed agreements and had success in the automotive industry, using its Learn CAD technology to create Ford Mustang Mach-E and Ford Escape SE hybrid models. Nextech AR offers scalability, affordability, ease of use, and the highest quality 3D models.
ARitize 3D has gained market traction and will continue to expand into new industries and product types. Announced last month, Nextech has rapidly expanded its e-commerce 3D model and augmented reality offerings to adults, fashion, naps, flooring, dog wear, jewelry, scooters, gear sports, furniture and more. E-commerce businesses recognize that the future of e-commerce relies on product visualizations via 3D models, as it has been proven to increase conversions and reduce returns. With this latest contract, Nextech is expanding into automotive parts, which offers a substantial revenue opportunity.
An April 2021 market researcher released by Global Industry Analysts Inc., (GIA), the leading market research firm, released its report titled “Auto Parts And Accessories – Global Market Trajectory & Analytics” highlighting the size of the global automotive parts and accessories market. Amid the COVID-19 crisis, the global automotive parts and accessories market was estimated at US$1.9 trillion in 2020 and is projected to reach a revised size of US$2.3 trillion by 2026.
As the auto parts industry continues to grow, the demand for the ability to quickly convert large amounts of files and create large-scale 3D models in this industry continues to increase. Nextech believes that with its ARitize 3D and Learn CAD some products, it has an elite end-to-end solution that is uniquely positioned in the market to meet the rapidly growing global demand in the auto parts industry for these models. Learn CAD is a potential game changer for auto parts manufacturers, as they now have a viable solution to convert large CAD files into lightweight 3D models at affordable prices and at scale. This can eliminate product photography costs and allow the consumer to see a high quality 3D model of the auto part from all angles. This can have a significant impact on ROI by increasing conversions and reducing returns by ensuring the buyer is purchasing the correct auto part.
Nextech AR CEO Evan Gappleberg comments: “This 3D modeling contract for the automotive parts industry is a big win as we are still competing with other 3D solution providers on business when it comes to comes from a great brand. This is just the start of what we believe will be a long term relationship. Being able to deliver scalable 3D/AR solutions for this trillion dollar industry at what we believe to be the lowest cost and highest quality, most scalable solution paves the way for a huge upside in this category. He continues: “I believe that with this agreement, 3D models in the automotive industry will go from a ‘nice to have’ to a ‘must have’ and with Nextech having the 3D model factory that can scale, we are transforming our platform into a “must-have” solution for e-commerce in the automotive industry.
About ARitize 3D
ARitize 3D is your one-stop AR solution with automated 3D model creation at an unbeatable price. Our artificial intelligence (AI) will transform your existing 2D product images into high-quality 3D and augmented reality experiences. It’s fast, it’s easy and it will transform your e-commerce site! 3D content creation is included in the monthly hosting fee. Our AI-powered platform is a game changer! What can 3D/AR do for you? Increase conversions, reduce product returns, increase customer engagement and attract more customers.
Transform your online store into a dynamic virtual showroom. Allow your customers to see your products from all angles and position them in their own space before purchase, resulting in more conversions and fewer returns. It’s an exciting and immersive shopping experience that keeps customers more engaged, better informed, and helps your brand stand out from the competition. Click here to find out more
ARitize 3D is the One-Stop-Shop 3D + AR solution for e-commerce that is:
Affordable – cheapest supplier
Scalable – faster, seamless, high quality
Frictionless – requires little effort to implement
Powered by AI and ML – automated creation of 3D models
End to end – from model creation to CMS & AR visualization
About the Genuine Parts Company
Founded in 1928, Genuine Parts Company is a global service organization engaged in the distribution of automotive and industrial replacement parts. The Company’s Automotive Parts Group distributes automotive replacement parts in the United States, Canada, Mexico, Australasia, France, United Kingdom, Ireland, Germany, Poland, Netherlands, in Belgium, Spain and Portugal. The Company’s Industrial Parts Group distributes industrial replacement parts in the United States, Canada, Mexico and Australasia. In total, the company serves its global customers from an extensive network of more than 10,000 locations in 17 countries and has approximately 52,000 employees. Further information is available at www.genpt.com.
To find out more, follow us on TwitterYouTube, Instagram, LinkedIn and Facebook, or visit our website: https://www.Nextechar.com.
About Nextech AR
Nextech AR Solutions is the engine accelerating the growth of the Metaverse. Using groundbreaking AI, Nextech AR is able to quickly, easily, and cost-effectively ARitise (transform) vast amounts and varieties of existing assets at scale, making products, people, and places ready for use. Interactive 3D, giving creators at all levels all the essential tools they need. to develop their vision of digital AR in the Metaverse. Our platform-agnostic tools enable brands, educators, students, makers, creators, and technologists to create the most photorealistic, interactive, and immersive 3D assets and digital environments, compose AR experiences, and publish them to all devices. canals. With a comprehensive suite of end-to-end AR solutions in 3D commerce, education, events, and industrial manufacturing, Nextech AR is uniquely positioned to serve the needs of the world’s leading brands and all Metaverse contributors .
Nextech funds the development of its AR and Metaverse growth initiatives through its e-commerce platforms, which currently generate most of its revenue. Nextech’s e-commerce platforms include: vacuumcleanermarket.com (“VCM”), Infinitypetlife.com (“IPL”) and Trulyfesupplements.com (“TruLyfe”), VCM and the sale of residential vacuum cleaners, supplies and parts, and small appliances sold on Amazon. These e-commerce platforms serve as an incubator to develop and test Nextech’s cutting-edge AR, AI and machine learning applications to power next-generation e-commerce technology.
CSE and NEO have not reviewed and accept no responsibility for the adequacy or accuracy of this release.
Certain information contained herein may constitute “forward-looking information” under Canadian securities laws. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “will” or variations of these words and phrases or statements that certain actions, events or results “will” occur. Forward-looking statements regarding the completion of the transaction are subject to known and unknown risks, uncertainties and other factors. There can be no assurance that such statements will prove to be accurate, as future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Nextech will not update any forward-looking statements or forward-looking information that is incorporated by reference herein, except as required by applicable securities laws.