Industry News
Augmented and Virtual Reality Market to Reach $571.42 Bn, Globally, by 2025 at 63.3% CAGR, Says Allied Market Research
Rapid adoption of smartphones & mobile gaming coupled with increased penetration of augmented & virtual reality solutions in education would fuel the growth of the global augmented and virtual reality market
Allied Market Research published a report, titled, Augmented and Virtual Reality Market by Organization Size (Large Enterprises and Small & Medium Sized Enterprises), Application (Consumer and Enterprise), Industry Vertical (Gaming, Entertainment & Media, Aerospace & Defense, Healthcare, Education, Manufacturing, Retail, and Others): Global Opportunity Analysis and Industry Forecast, 2018 – 2025. The report provides detailed analyses of the top winning strategies, market share & estimations, driving factors & opportunities, key market segments, and competitive landscape. According to the report, the global augmented and virtual reality market generated $11.32 billion in 2017, and is expected to reach $571.42 billion by 2025, registering a CAGR of 63.3% from 2018 to 2025.
Increase in the number of smartphone & mobile game users and rise in adoption of augmented & virtual reality solutions in education drive the growth of the market. However, lack of skilled personnel and sluggish penetration of these technologies in underdeveloped economies would hamper the market growth. On the other hand, heavy inflow of investments in the market would create new opportunities in the industry in future.
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Large enterprises segment to maintain lion’s share by 2025
The large enterprises segment accounted for nearly two-thirds share of the total revenue in 2017 and is expected to maintain its lion’s share through 2025. Large organizations can leverage the advantages of AR and VR, as they are not affected by budgetary restraints as in the case of small enterprises. Large enterprises use the advantage of scale to efficiently invest in equipment that are necessary for training employees and improving customer experience. However, SMEs would register the highest CAGR of 66.40% from 2018 to 2025. Though the cost of VR equipment still affects and acts as a barrier for smaller businesses; however, the cost is anticipated to reduce in future, leading to increase in adoption of AR and VR among SMEs. Moreover, AR is expected to play a major role in driving the growth of the SME market.
Consumer segment to dominate in terms of revenue by 2025
Among applications, the consumer segment held 61% of the market share and would continue its dominance through the forecast period. This segment is largely driven by increased consumption of video content among millennials and growing popularity of gaming and entertainment. However, the enterprise segment would grow at the fastest CAGR of 70% through 2025, owing to the increased adoption of AR and VR by enterprises, especially in manufacturing, healthcare, and retail sectors. Enterprises are anticipated to invest heavily in AR and VR for developing new IT and business applications such as design & visualization, corporate trainings, field maintenance, customer experience, and marketing.
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Gaming segment presents lucrative opportunities for future
The gaming segment accounted for 26% share of the total revenue in 2017 and would maintain its lead in terms of revenue by 2025. The segment would grow at the fastest CAGR of 68.10% during the forecast period. New innovations, such as 360-degree view of an environments and haptic feedback through controls have attracted more gamers to adopt immersive technologies. The research also analyzes entertainment and media, aerospace and defense, healthcare, education, manufacturing, retail, among other industries.
North America to dominate, Asia-Pacific to grow the fastest through 2025
North America held the major market share of 37% in 2017 and would maintain its lead through 2025. This is because of the large-scale adoption of AR/VR solutions by players in the region to cater to the growing demand for innovative technologies such as digital twins. However, Asia-Pacific would register the fastest CAGR of 66.70% from 2018 to 2025 owing to the proliferation of smartphones, surge in the number of startups dealing in AR/VR, and advancements in connectivity in this region. In addition, government initiatives in China and India that encourage developments in AR/VR for defense and manufacturing sectors are expected to supplement the growth in the Asia-Pacific regions.
Prominent Market Players
The key players analyzed in the report are Google Inc., Sony, Magic Leap, Inc., HTC, Microsoft Corporation, Osterhout Design Group, Facebook, DAQRI, Samsung Electronics Co., Ltd., and Wikitude. These players have adopted different strategies such as collaborations, mergers & acquisitions, joint ventures, partnerships, expansions, and others to gain a strong position in the industry.
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About:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Industry News
Gaming Corps to launch with lotteries in the USA via EQL games deal
In-demand content provider extends reach into largest iGaming market in the world with its full suite of games made available via iLottery aggregation platform
Gaming Corps, a publicly-listed game studio based in Sweden renowned for creating industry-leading games, has made its debut in the US market through a breakthrough agreement with leading lottery provider, EQL Games.
The distribution agreement will see Gaming Corps’ full suite of games made available to EQL Games’ powerful iLottery Aggregation Platform, developed to provide lottery operators across America with direct access to a portfolio of proprietary and third-party games.
Following the integration, EQL Games’ lottery operator partners will be offered proven Slots, Table Games, Multiplier Games, Mine Games and Plinko Games, as well as titles under Gaming Corps’ innovative and trademarked Smash4Cash™ series.
The deal and integration come at a time of growing demand among online lottery operators in the US for non-traditional content, a format that Gaming Corps has excelled in, especially with its Smash4Cash™ games, which have been a hit with players in global markets.
EQL’s aggregation platform has been developed to allow online lottery operators to quickly and easily access content from multiple game studios simultaneously through one integration and one commercial agreement.
Its iLottery Aggregation platform simplifies the process of adding new games to an online lottery brand across regulated states. In addition to the third-party content provided via its aggregator platform, EQL Games has a portfolio of in-house titles.
This includes games produced under licence with Team USA which were rolled out by several state lotteries for the Olympic and Paralympic Games in Paris this year, with new titles being planned ahead of the Winter Games in Milan (2026) and the Olympic and Paralympic Games in Los Angeles (2028).
Juha Kauppinen, CEO of Gaming Corps, said: “The USA has always been somewhat of the holy grail for game developers like us, which has been further emphasised as markets in several states have become regulated. The potential in the American market is enormous, and the impact for us is a bit difficult to assess, but we have great hopes for the collaboration with EQL Games, which has an impressive platform towards U.S. lotteries.
“We believe it will have a significantly positive impact on our revenues. I would like to personally take the opportunity to thank EQL Games and Brad Cummings for the collaboration, and we are now working hard to complete the integration so that all our games will be offered to EQL’s customers via their platform.”
Brad Cummings, CEO of EQL Games, added: “Including Gaming Corps as a supplier to the EQL Games iLottery Aggregator is an exciting step forward in our mission to offer unique, high-quality content to state lotteries. Gaming Corps’ expertise in iGaming, along with their unique game portfolio, fits perfectly with our vision of enhancing the lottery experience through dynamic and engaging content.”
Industry News
Public Voting Starts for Ortak x B.F.T.H. Arena Awards 3.0
The highly anticipated Ortak x B.F.T.H. Arena Awards 3.0 has officially entered the public voting phase as submissions are closed.
More than 70 game providers have turned in over 160 submissions, including Tom Horn Gaming, Pragmatic Play and RubyPlay. Public voting involves enthusiasts casting their votes to pick the winner of the Game of Public Choice category.
The Public voting phase ends on December 1st 23:59 GMT+4.
Concurrent to public voting, the first phase of private voting also starts during which all participants who have submitted entries get the chance to vote for one favourite in each category. An international auditing company oversees this phase to eliminate duplicate votes and self-votes. This phase ends on November 19, 23:59 GMT+4.
The second phase of private voting will also take place with a jury of industry experts making their decisions based on the shortlist picked by participants during the first phase.
Industry News
BC.GAME Launches Exclusive Airdrop for Polymarket Users, Rewarding Participation in U.S. Election Prediction Markets
Following the frenzy surrounding the 2024 U.S. presidential election, global leading crypto igaming platform BC.GAME has officially announced an exciting airdrop campaign aimed specifically at Polymarket users. This initiative will bring BC.GAME’s gaming entertainment together with the wisdom of Polymarket users, offering a much-needed opportunity for those who actively participated in the election prediction market.
Airdrop Frenzy Amid the Hype: Special Rewards for Polymarket Users
Following the intense activity during the 2024 U.S. presidential election, Polymarket saw an unprecedented surge in user participation. Thousands of individuals placed bets on the election results, turning this prediction market into a major financial event.
To capitalise on this momentum, BC.GAME is launching an exclusive airdrop for Polymarket users. The campaign will reward active participants with exclusive prizes and access to BC.GAME’s expansive gaming ecosystem, creating an exciting opportunity for those who took part in one of the most talked-about prediction markets in history.
Exclusive Airdrop: A Chance to Turn the Tide
The BC.GAME airdrop campaign will offer Polymarket’s active users unique rewards, creating an exciting and unparalleled experience in the crypto gaming space. By leveraging the buzz surrounding Polymarket, BC.GAME aims to bring its innovative gaming ecosystem to more users, giving them the opportunity to earn substantial rewards through this airdrop. Polymarket users will not only enjoy exclusive games on the BC.GAME platform, but also have the chance to claim specially designed rewards. The BC.GAME team guarantees a transparent and fair process throughout the event, ensuring that every participant receives maximum benefits.
BC.GAME: Igniting the Future of Crypto Communities
BC.GAME has always been at the forefront of innovation, providing users with a never-before-seen gaming experience. According to data from 1ml .com, BC.GAME is ranked 14th globally in the crypto gaming space and supports hundreds of cryptocurrencies, including Poly, providing users with diverse payment and gaming options.
In addition, BC.GAME actively participates in the development of the crypto community by investing in NFTs and supporting the growth of the metaverse. For example, BC.GAME has invested 700 ETH into various NFT projects to foster growth in the metaverse and iGaming sectors. By engaging with Polymarket users, BC.GAME is lighting up new possibilities in the crypto world and paving the way for the future of digital entertainment.
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