[Click eStock] "Maxst, Expectations for Digital Twin Business Utilizing AR"

Independent research firm ValueFinder analyzed on the 6th that Maxst is developing augmented reality (AR) solution development platform technology targeting the digital twin market.

Lee Chungheon, a researcher at ValueFinder, stated, "With the establishment of 5G networks and the release of devices such as Vision Pro and Meta Quest, the digital twin market is blossoming," adding, "Along with the growth of the digital twin market, Maxst's sales next year are expected to become a growth driver."

Global market research firm Grand View Research projected that the global digital twin market size will grow from approximately 23 trillion KRW last year to 195 trillion KRW by 2030, with a compound annual growth rate of 35.7%.

In July this year, Maxst introduced Widearth, a reality space-based digital twin service platform. Widearth is a subscription-based platform where general users (producers) can shoot and upload spaces such as homes, restaurants, accommodations, exhibitions, and large spaces, and by combining AR functions, users can utilize the space in walk view, cross-section view, and more.

CEO Lee described Widearth, saying, "Even without using LiDAR equipment costing hundreds of millions of KRW, by utilizing an affordable 360 camera for shooting, we can produce image quality comparable to that of large corporate competitors," citing the lower cost structure compared to competitors as a competitive advantage.

Recently, Maxst linked the Widearth platform with XR devices such as Vision Pro and Meta Quest to conduct a design review meeting for Kia Motors.

Researcher Lee commented, "We have developed AR solutions applicable to industries, AR development platforms such as Maxst SLAM and Maxst VPS, and XR metaverse development platforms, supplying them to individual and corporate clients," and added, "Considering that these were supplied to major domestic corporations such as Samsung Electronics and Samsung affiliates, as well as SK Group, the technology is deemed verified."

He explained, "The issuance price for the paid-in capital increase was fixed at 1,561 KRW," adding, "This is about 33.3% lower than the planned issuance price of 2,340 KRW, causing setbacks in the fundraising plan." He continued, "If 16.7 billion KRW is raised, it will be possible to respond to the convertible bond (CB) put option," and added, "Since costs such as employee salaries and payment fees cannot be covered, a countermeasure will be necessary."