Market Herald logo

Subscribe

Be the first with the news that moves the market
  • ARway (ARWY) has successfully spatially mapped a 400,000 sq ft mall for a pilot project showcasing the company’s augmented reality indoor wayfinding solution
  • If the pilot is successful, the ARway solution will be rolled out to over a dozen additional malls controlled by this same company
  • Evan Gappelberg, CEO of ARway, sat down with Daniella Atkinson to discuss the potential of the ARway solution
  • The ARway offering has an unlimited number of use cases for augmenting physical spaces in the metaverse
  • According to industry research, the global indoor positioning and indoor navigation (IPIN) market size will grow by USD 23.03 billion from 2020 to 2025
  • Arway is focused on developing an all-in-one real-world Metaverse creation tool with self-generating AR mapping solutions for consumers and brands alike
  • Arway Corp. (ARWY) is up 0.52 per cent on the day, trading at $1.93 per share at 10:45 am ET

ARway (ARWY) has successfully spatially mapped a 400,000 sq ft mall for a pilot project showcasing the company’s augmented reality indoor wayfinding solution.

If the pilot is successful, the ARway solution will be rolled out to over a dozen additional malls controlled by this same company.

A large property group owner is looking to elevate the visitor experience at their chain of malls with immersive AR experiences. After researching the market, they selected ARway’s solution for the superior Augmented Reality enhanced wayfinding user experience and simplicity of implementation. They are running the pilot spread out on over 400,000 sq ft which is just at one of their properties. The mall is a community-oriented shopping, lifestyle and entertainment destination, home to 53 international brands.

Evan Gappelberg, CEO of ARway, sat down with Daniella Atkinson to discuss the potential of the ARway solution.

“We anticipate having over 100 pilot programs in play over the coming months, which is extremely positive since I expect a conversion of 90 per cent+ into multi-year contracts. Our pilot programs are paid-for programs which can last anywhere from 30-90 days. These pilot programs are starting to happen on a global scale and represent just the beginning of ARway’s wayfinding journey”.

The goals of the pilot include:

  • Providing a ‘digital concierge’ to visitors with AR navigation to shops and amenities
  • Developing a programmatic AR ad service for brands and tenants.
  • Monetizing the mall’s air space’ with AR banners and promotions, exclusive offers and AR gamification.
  • Collecting analytics data, testing visitor behaviour and adoption
  • Developing an implementation plan across other shopping malls and stores

ARway is engaged in a number of substantial pilot project discussions spanning several countries across the globe and includes multiple industries; retail, university campuses, museums, and airports, showcasing ARway’s wide range of applications.

The ARway offering has an unlimited number of use cases for augmenting physical spaces in the metaverse, consisting of indoor navigation with AR activations, which significantly improves visitor experiences in large and complex spaces.

According to industry research, the global indoor positioning and indoor navigation (IPIN) market size will grow by USD 23.03 billion from 2020 to 2025. The growth momentum of the market will accelerate at a CAGR of 33.21 per cent during the forecast period. The market growth will be led by North America, as this region will account for 40 per cent of the market’s growth during the forecast period. This represents a substantial revenue opportunity for ARway as it aims to become the leading service provider for indoor navigation across all industries.

Arway is focused on developing an all-in-one real-world Metaverse creation tool with self-generating AR mapping solutions for consumers and brands alike.

Arway Corp. (ARWY) is up 0.52 per cent on the day, trading at $1.93 per share at 10:45 am ET.


More From The Market Herald
The Market Herald Video

" Datametrex (TSXV:DM) announces $700,000 renewal contract from LOTTE Data Communications

Datametrex AI (DM) has received a renewal service contract from LOTTE Data Communications for approximately C$700,000.
The Market Herald Video

" Callinex (TSXV:CNX) welcomes former HudBay CEO Peter R. Jones to the Technical Team

Callinex (CNX) has appointed mining engineer and entrepreneur Peter R. Jones to the company’s Technical Team. 

" Sixth Wave (CSE:SIXW) receives provincial grant for its lithium from spodumene process

Sixth Wave Innovations (SIXW) has been awarded a $50,000 grant from the Mineral Resources Development Fund (MRDF), Natural Resources and Renewables.

" Datametrex (TSXV:DM) granted two data security patents

Datametrex (DM) has received two new patents for its secure data encryption solutions.