TULSA, OK--(Marketwired - Feb 28, 2017) - AppSwarm, Inc. (OTC PINK: SWRM), a company that focuses on the acquisition and development of application-based technologies, has announced the expansion of its current business model. With existing software platforms and staff, AppSwarm will move forward in the e-commerce, and health & education technologies.
AppSwarm sees continued growth of its current in-house software development platforms and the application incubation/acceleration program. Developing virtual reality products and platforms will be an immediate focus in the development sector. The company is pursuing technology company mergers and acquisitions that fit within our corporate ethos.
With US e-commerce sales at a current level of only 8.40% of retail sales, up from 8.10% last quarter, AppSwarm management sees an opportunity to apply its current business model to this burgeoning sector.
Ronald Brewer, CEO of AppSwarm, Inc. stated, "We've been operating on a system developed for smartphone-based technology such as mobile games and applications. This acquaints us with the behavior of smartphone users and allows us to pursue this avenue of growth. Our business model has been successful in the application world, but it is also scalable to other industries. With minor operating adjustments, we can almost seamlessly move forward in the e-commerce sector as well as many other technologies."
Reports indicate that in coming years, online sales will increase exponentially as users become more familiar and comfortable shopping from their smartphones. American online sales are slated to reach $523 billion by 2022, up 56% from $335 billion in 2015.
Mobile devices are expected to be a key driver in this growth. With smartphone models becoming larger, and wireless networks becoming faster, Forrester Research Inc. projects that online sales will grow by an average annual rate of 9.32%, amounting to an additional 26 million online retail shoppers by 2020. This equates to over 270 million online shoppers.
AppSwarm is pursuing acquisitions that would utilize their current growth system to capitalize on this fast growing market.
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.
For more information, visit us at www.app-swarm.com, or follow us on Facebook https://www.facebook.com/AppSwarm or Twitter https://twitter.com/appswarm
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.