Latest News
Mobile Augmented Reality Market to Reach US$ 24 Bn by 2030 as Pandemic Pushes Users to More Virtual Experiences
The credit of unstoppable pace of mobile augmented reality (AR) market significantly goes to the creative industry. Inclusive of video games, live events, retail, and video entertainment, this side of business has definitely challenged mobile augmented technology, pushing it to deliver better solutions. Designed to create immersive experiences, mobile augmented reality has won a special place for game makers. Launch of sophisticated, intricately designed multiplayer games have truly utilized the real potential of solutions presented by this market.
The explosive growth of mobile augmented reality is completely attributable to unprecedented use of smartphones and tablets. From remote places to urban landscapes, mobile AR has made an enormous contribution in changing the way experience museums, office spaces, and games. Since innovations such as Google Glass, the world of mobile AR has evolved to be a part of many other sectors, changing the game for military trainings, healthcare consultations, and learning experiences.
In this light of these factors, study predicts that the global mobile augmented reality market estimated to reach US$ 3 Bn in 2020, surge at a whopping CAGR of 23.2% during the forecast period of 2020 to 2030.
Key Takeaways of Mobile Augmented Reality Market Study
- East Asia to lead the race in the global mobile augmented reality market at a CAGR of 27.2% between the forecast years of 2020 and 2030
- Gaming segment anticipated to retain its leading position with a share of 28% by the end of 2030
- Smartphones and tablets to revolutionize educational experiences with integration of mobile AR
- Services segment to leap ahead at a CAGR of 24.6% during the forecast period as AR design and development, integration and development, and support services find applications across verticals
“The mobile augmented reality market in East Asia is expected to grow at a high CAGR as sales of smartphones with AR apps remains exponential. This eliminates the need for additional hardware to support this technology, which is expected to drive the expansion of mobile AR technology in the region. Mobile augmented reality has also become the new medium for game developers to focus on creative immersive experiences to create a high value proposition for the end use, “says an analyst.
COVID-19 Proves Positive for Mobile Augmented Reality Market
The COVID-19 pandemic has deepened the chasm of economic crisis, making the global population rethink education and entertainment in many ways. With no live events to attend, cancelled sporting events, and uncertainty looming over reopening of colleges and schools, mobile augmented reality found its opening to a plethora of opportunities.
The importance of AR has also surged in healthcare consultations as medical professionals and patients are seeking safety first. Furthermore, a quantum leap in online gaming, schooling, and entertainment as artists are taking gigs online, have collectively resulted in a special demand for mobile AR. Biggest chunk is definitely consumed by the online gaming industry, which has been the strongest pillar of the entertainment during the stringent lockdowns.
According to a study, the mobile augmented reality market will grow 6%-8% by Q3 2020 in the given circumstances.
E-commerce to Enhance Demand for Mobile Augmented Reality
The growing e-commerce industry has been identified as key contributor to the increasing adoption of mobile augmented reality. Integration of mobile augmented reality by retailers to make it more accessible for customers to purchase the right item. Augmented reality helps users to view their products in 3-D, life-like projections in real-time through smartphones and tablets.
Mobile augmented reality offers retailers the opportunity to improve the consumer shopping with real-life experiences. With an augmented reality app, an e-commerce retailer can create a virtual table with a different range of products, projecting it on the customer’s living room. The growing number of purchases via mobile devices and shoppers using smartphones in-store is increasing the demand for mobile augmented reality.
Such enhancement of consumer engagement is projected to bode well of the market in the forecast period.
These insights are based on a report on Mobile Augmented Reality Market by Future Market Insights
eSports
NEW YORK ISLANDERS REPRESENTATIVE ERIK ‘EKI’ TAMMENPAA EARNS HIS SIXTH EUROPEAN TITLE AT THE EA SPORTS NHL 24 EUROPEAN CHAMPIONSHIP
In a rematch of last year’s European Championship, Erik ‘Eki’ Tammenpää, representing the New York Islanders, again prevailed over Teemu ‘Temppanen’ Karvonen representing the Anaheim Ducks to win the EA SPORTS NHL 24 European Championship title. The win marks Eki’s fourth-straight and sixth-overall European Championship title (2018, 2019, 2021, 2022, 2023, 2024) and another $15,000 USD in earnings. Temppanen placed second in the competition that took place at the Copenhagen Media Facility in Copenhagen, Denmark on Sunday evening. For a second year straight, both players will represent Europe in the EA SPORTS NHL 24 World Championship taking place in April in New York.
Eki is a full-time YouTube and Twitch content creator and EA SPORTS™ NHL® 24 expert and 24-year-old native of Helsinki, Finland. He remains the most decorated esports player on the NHL competitive circuit and will try once again to capture the World title after capturing runner up at last year’s EA SPORTS NHL 23 World Final.
During the competition in Copenhagen today, Temppanen and Eki qualified for a spot in the World Final by competing in a semifinal best-of-three round. Both players split their first two games, with Temppanen ultimately overtaking NikkeDanglesin a tight competition and Eki defeating Eken45Jr with eight goals in a Game Three shutout.
The Championship series saw a rematch of last year’s EA SPORTS NHL 23 European Final with Temppanen and EKI facing off once again. While Temppanen took the lead with an early goal in Game One, Eki scored three quick goals in a three-minute span during the second period and a game-winning goal in the third period by Vincent Trocheck (New York Rangers). Eki continued his goal streak and dominated Game Two, ultimately scoring six unanswered goals, including tallies from Jaccob Slavin (Carolina Hurricanes), Bo Horvat(New York Islanders), and Cam Atkinson (Philadelphia Flyers). Eki’s
6-0 victory solidified his sixth European title and status as “the one to beat.”
EA SPORTS NHL 24 EUROPEAN FINAL STANDINGS
1st: Eki, New York Islanders
2nd: Temppanen, Anaheim Ducks
3rd: Eken45jr, Pittsburgh Penguins
4th: NikkeDangles, Washington Capitals
5th-8th: Alphaborje, Detroit Red Wings
5th-8th: Kibeeex, Toronto Maple Leafs
5th-8th: Launonexx, Tampa Bay Lightning
5th-8th: Teemuyy, Colorado Avalanche
The EA SPORTS NHL 24 North American Championship will be contested on March 24 at the NHL Flagship Store in New York beginning at 1 p.m. ET on the NHL’s Twitch channel. For more news, fans can visit www.nhl.com/NHL24 and follow the conversation on social using #NHL24WC.
Asia
TWO PAGCOR MULTI-PURPOSE FACILITIES INAUGURATED IN TARLAC
Philippine Amusement and Gaming Corporation (PAGCOR) Chairman and CEO Alejandro H. Tengco on Monday, March 18, led the inauguration of two newly completed multi-purpose centers in the towns of San Manuel and Victoria in the province of Tarlac.
Mr. Tengco said the state gaming agency provided a total of Php100 million for both of the two-story projects.
“Naglaan ang PAGCOR ng limampung milyong piso para sa bawat multi-purpose center sa bayan ng San Manuel at Victoria; mayroon itong iba’t ibang pasilidad gaya ng kusina, storage areas para sa relief goods, toilet at shower rooms, lactating rooms at maluwag na activity area para sa iba’t ibang gawain,” he said.
The PAGCOR chief said that because the Philippines is very vulnerable to climate change, “typhoons, floods and earthquakes are common occurrences that we must always be prepared for.”
However, he stressed that while the buildings are primarily designed as temporary shelters during emergencies, the structures can be used for various socio-civic activities, too.
“During the height of the pandemic, when the project was rolled out, there was a high demand for quarantine and evacuation facilities. But now, there is more sense to call these as multi-purpose centers rather than just evacuation facilities,” Chairman Tengco said.
“You may use this facility as your social hall, events area, and livelihood training center. You may also use this building to generate revenues for the local government,” he said.
During the event, Chairman Tengco also introduced PAGCOR’s upcoming flagship programs which include school buildings for public schools, e-learning centers, community wellness centers, and socio civic centers nationwide.
“These upcoming flagship projects are designed to create lasting impact on the lives of ordinary Filipinos,” he said. “These are just some of our nation-building efforts because as you are all aware, PAGCOR is the third largest revenue contributor to the national coffers.”
San Manuel Mayor Doña Cresencia Tesoro thanked the PAGCOR chief for the agency’s support.
“We are grateful that PAGCOR saw our need. This multi-purpose center is so far the biggest project that we have seen in San Manuel, and this is proof of PAGCOR’s commitment to serve the Filipinos,” she said.
“We thank everyone who made this dream come to life. Rest assured that we will use this to enrich the lives of our people and the generations to come,” Tesoro added.
Board Member Harmes Sembrano of the 2nd District of Tarlac also expressed gratitude to PAGCOR for funding the two-story multi-purpose facility in Victoria.
“With our limited resources, we cannot afford to fund all programs that will be beneficial to the people of Tarlac. But because of PAGCOR’s help, we have this new multi-purpose facility which will serve not only the locals of Victoria but also those from neighboring towns,” Sembrano said.
PAGCOR has thus far completed and inaugurated 38 multi-purpose buildings in different parts of the country while 34 others are still under construction.
Latest News
BETSSON.SPORT DEBUTS IN ITALY WITH FRANCESCO TOTTI AS AMBASSADOR
Betsson.sport proudly announces the launch of its new sports infotainment platform in Italy. At the heart of this initiative as its ambassador, stands Francesco Totti, the revered Italian football legend celebrated for his exceptional talent and illustrious career.
With a focus on delivering exclusive content, interviews, news and highlights across various sporting disciplines, Betsson.sport aims to become a go-to destination for sports enthusiasts nationwide.
Additionally, Betsson.sport introduces the initiative ‘Betsson Sport Club,’ inviting teams to join and gain visibility and support alongside other participating teams. This club is open to clubs from both prominent and lesser-known leagues, offering them exposure opportunities and a platform for more visibility.
“I am thrilled to be part of this project, which aligns perfectly with my daily commitment to sharing my passion for sports,” said Francesco Totti. “Betsson.sport presents a wonderful opportunity to unite various sports clubs and helping them to realise their full potential.”
Ronni Hartvig, Chief Commercial Officer of Betsson Group, stated, “Italy holds significant importance for Betsson, and we are delighted to partner with Francesco Totti, a figure synonymous with excellence in Italian football. We think his story and experiences will help us make the Betsson Sports Club even better, promoting our values of fair play, inclusion, and passion.”
As Betsson.sport embarks on its journey in Italy, the brand is committed to innovation and collaboration. The recent partnership announcement with Roma exemplifies this commitment, marking the beginning of a series of dynamic initiatives aimed at strengthening the bond between sports and Betsson.sport.
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