Matterport (MTTR.US) stands out as one of the companies that helps transfer perfectly rendered objects from the physical world to virtual space. Matterport also has the strategic advantage of being the first player in this market sector to offer a powerful scale to create digital equivalents, with offices around the world. Matterport currently operates in 170 countries min Singapore.
Matterport's technology allows for the creation of "digital twins" or virtual equivalents of physical spaces. These can be interiors of rooms, whole houses, hotels, historic buildings or even boats, ships and planes. Additionally,
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Open account Try demo Download mobile app Download mobile appMatterport's 3D technology is simple and can be used on a wide range of devices, from high-end cameras to the modern cell phone. Its 3D capture solution allows users to take photos and send them to the cloud, where they undergo processing. The technology also allows you to upload your own space to the digital world.
Matterport currently manages 6.2 million virtual spaces - more than 100 times more than the other companies in the market combined, plus the company has created simulations for nearly 2 billion square meters of space by basing the 3D application on artificial intelligence.
Digitally mapped surfaces have the potential for a wide range of applications, such as virtual tours of real estate, 3D models of property damage to optimize the claims process, or importing digital equivalents into design software to increase the speed and quality of modeling. The above cases are just one of thousands of possible uses for the company's technology. Matterport has attracted a significant number of investors who assume that the company will have a large stake in building a virtual world called the Metaverse.
Matterport estimates that by focusing solely on market applications without the globally developed Metaverse trend, the total market could be worth $240 billion. Matterport's capabilities could potentially be many times greater by bringing the physical world into digital reality, which also contributes to the company's high valuation.
The company has partnered with Meta Platforms to make 1,000 digital equivalents in the dataset available for non-commercial use. The dataset is currently being used by researchers to teach robots and artificial intelligence systems to interact with the physical world.
Mark Zuckerberg, CEO of Meta Platforms (the former Facebook) has envisioned the ability to teleport anywhere in the Metaverse system, so bringing the physical world into the Metaverse seems to be one of the key tasks for the company.
From a colleague, Amazon has made Matterport's digital twin capabilities available on Amazon Web Services (AWS). The two companies have created a joint digital twin solution for so-called Internet of Things (IoT) devices, smart buildings, manufacturing and industrial customers.
Matterport's revenue grew nearly 10% year over year to $27.7 million in the third quarter of 2021. However, the company's revenue structure is increasingly shifting toward its more profitable software subscription business. The company saw a 116% increase in subscribers to 439,000 relative to 2020.
Although Matterport's stock has doubled this year, the company's market capitalization is around $6 billion. The company's potential was already evident before the global Metaverse trend, and now the company is attracting a lot of speculative capital and is poised to capture a large share of the market by building digital spaces in virtual worlds on a massive scale and is set to benefit from the technology it has been building for years.
MTTR.US is testing the lows of November and December last year. Source: xStation 5
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