TULSA, OK–(Marketwired – May 23, 2017) – AppSwarm, Corp (OTC PINK: SWRM), a company that focuses on the acquisition and development of application-based technologies, has announced the acquisition of an innovative ecommerce website, Into the VR World. (www.intothevrworld.com).
AppSwarm is pursuing growth of its current in-house software development platforms and the application incubation/acceleration program. Developing virtual reality products and platforms has an immediate emphasis within our development sector. Further, the company is pursuing technology company mergers and acquisitions that fit within our corporate principles.
Ronald Brewer, CEO of AppSwarm, Inc., stated, “With our in-house focus heavily on VR and AR we thought it advantageous to acquire a sophisticated and graphics rich eCommerce site. Into the VR World made perfect sense. The data we are collecting and the feedback we are receiving, all point to significant opportunity within all facets of the virtual reality industry.”
The virtual and augmented reality industry is just starting to fully launch. According to research from the International Data Corporation (IDC), worldwide revenues for the augmented reality and virtual reality (AR/VR) market is forecast to grow from $5.2 billion in 2016 to more than $162 billion in 2020.
More than half of the revenue will come from VR/AR hardware sales. As VR hardware continues to compress in price and powerful smartphone based systems like Samsung’s Gear VR and Google’s mobile VR Daydream platform gain steam, it’s expected that 50% of worldwide revenues will be generated by VR/AR hardware sales according to the report.
AR/VR software revenues will also get off to a quick start, growing more than 200% year over year in 2016, but will quickly be overtaken by services revenue in the middle years of the forecast, as logistics and manufacturing demand even more enterprise-class support.
The forecast also reports that revenues for VR systems, including viewers, software, consulting services and systems integration services, are forecast to be greater than AR-related revenues in 2016 and 2017, largely due to consumer uptake of games and paid content. After 2017, AR revenues will surge ahead, hitting critical mass in healthcare delivery and product design and management-related use cases. Source ~ VRScout, Inc.
AppSwarm, Inc. is a technology development and incubation company focused in accelerating the development of mobile applications and technology, fast-tracking product to market. AppSwarm partners with application developers through joint ventures, royalty agreements, marketing partnerships, and outright purchase agreements.
DISCLOSURES: “Safe Harbor” statement under the Private Securities Litigation Reform Act of 1995: This press release may contain forward-looking statements that are subject to risk and uncertainties, including, but not limited to, the impact of competitive products, product demand, market acceptance risks, fluctuations in operating results, political risk and other risks detailed from time to time in the Company’s filings with OTCMarkets.com and as required to the Securities and Exchange Commission. These risks could cause SWRM’s actual results to differ materially from those expressed in any forward-looking statements made by, or on behalf of, the Company.