29 November 2017
OBLIQUE IMAGERY PRODUCTS AND 3D PRODUCTION PIPELINE COMMERCIALISE NEARMAP’S TECHNOLOGY LEADERSHIP INTO 2018
Nearmap Ltd (ASX: NEA) is pleased to announce significant commercialisation milestones resulting from its technology leadership in location content. Nearmap’s revolutionary HyperCamera 2 technology features accuracy more than 3 times greater than previous generation systems. Utilising this technology, Nearmap’s location content now extends to new geospatial data services, all within an instantly accessible, cloud based environment.
PANORAMA AND OBLIQUE AERIAL IMAGERY AVAILABLE TO US CUSTOMERS
o Nearmap Panorama enables users to view 45-degree perspective maps for large or small areas in all cardinal directions in uninterrupted fashion. Users can easily navigate, pan, and zoom across any size geography, quickly analyse perspective maps, and make faster decisions impacting commercial and government organisations.
o Nearmap Oblique further enables users to inspect and measure the height of features such as buildings or terrain.
Nearmap’s capture program utilising HyperCamera 2 is well underway, with significant components of the footprint in both the United States (covering 50% of the US population) and Australia (covering the 6 major capital cities) captured and available to customers online.
Both products expand the market to customer use cases in a range of industries, including telecommunications, insurance, solar and local government. With the launch of Nearmap’s new MapBrowser interface in the United States, these products are available now to US customers with early commercial sales underway in that market.
Commercial launch of the new MapBrowser, Nearmap Panorama and Nearmap Oblique products to Australian customers is expected in the first quarter of 2018.
3D PROCESSING PIPELINE REACHES PRODUCTION SCALE
With the number of images of an individual location captured using HyperCamera 2, Nearmap is now able to generate 3D reconstructions on an unprecedented scale. A technologically advanced processing pipeline, incorporating 3D generation software and cloud-based processing and provisioning, results in 3D models which are:
o Cost effective, as the scale of Nearmap’s capture allows whole-of-city 3D reconstructions within weeks of the images being captured; and
o High quality reconstructions delivered by a cloud based platform.
Early commercial sales have been made to trial customers of 3D models, with 3D product and pricing to be rolled out in 2018.
NEARMAP
Dr Rob Newman, CEO & Managing Director, commented “Consistent with the objectives we outlined at the time of our capital raise last year, these milestones represent a major step forward in both our location content and delivery capabilities. Our HyperCamera 2 capture has a greater than 3 times accuracy than our previous generation systems, and is now generating products which address customer use cases for oblique imagery, and expand the market to new cases for 3D reconstructions on an unprecedented scale.
“Building on our 10 year imagery history in both Australia, the United States and New Zealand, and with over 8,000 customers globally generating a group ACV portfolio in excess of $50M, this commercialisation of our technology leadership provides an exciting opportunity for Nearmap. 2018 will see Nearmap extend our leadership position by introducing products such as digital surface models, textured 3D mesh and 3D point clouds.”
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