News and Announcements
Next World growth hits 1000% in 8 months
- Published June 09, 2022 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
Macro fundamentals in Web3, encompassing VR are becoming too hard to ignore for Investors. With the education and workplace application of the technology to grab 30% of the opportunity. By 2023 the VR education market is forecast to grow to USD $19.6B, achieving a 16.2% CAGR since 2018. Similarly, is it expected one in four people will spend at least one hour a day in VR by 2026. The USD $260B eLearning /LMS market will be the one most significantly disrupted by the likes of upstart Next World.
In line with this market expansion, leading VR training provider Next World has grown it’s MRR by 1000% in the previous 8 months. By December 2023, Next World anticipates it’s MRR to hit $1.14M.
Next World has achieved this amazing growth through the application of its two stage SaaS model, combining a VR Learning Platform and library of content. The Next World ecosystem is a world leader in a massive land of opportunity. Already it counts Fortune 500’s and ASX Top 100’s as customers – companies like Caterpillar, Komatsu, Fortescue, QUBE and Veolia. A massive vote of confidence in the ecosystem that enriches workplace training programs and is easily scalable across customer organisations.
Further to the development of Next World’s leading first-party hard skills course library, the firm is preparing to launch an external third-party marketplace of VR training material. This marketplace is another strategic play that will become the 3rd SaaS layer, enabling Next World to massively expand its client base into both blue-collar and white-collar industries by offering a one stop shop for VR training material while taking a considerable revenue cut with minimal internal development costs.
As Next World looks into the next 12 months, its international presence is at the forefront of operations. The launch of U.S. offices will be replicated from previous successful expansions into the UAE, and U.K markets. Ask yourself, what will training look like in the near future?
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