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Augmented and Virtual Reality Market to Reach $571.42 Bn, Globally, by 2025 at 63.3% CAGR, Says Allied Market Research

George Miller

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VR – The Game Changing Factor in Online Gaming
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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.

Knowledge tree is a cloud-based intelligence platform that offers more than 2,000 selective, off-the-shelf reports on niche markets to enable our clients gain deep insights on the latest trends, dynamic technologies, and emerging application areas.

 

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.

 

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Playzido Signs Distribution Deal With Playtech

Niji Narayan

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Playzido Signs Distribution Deal With Playtech
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Playzido has entered into a distribution deal with Playtech. The deal will enable Playzido to deliver games through the Playtech Games Marketplace.

“Playzido is hugely proud to be working in partnership with Playtech, undeniably one of the world’s leading online gaming brands. The deal will accelerate our reach into strategic key markets and will enable us to distribute our innovative portfolio of games to new audiences. We look forward to a building a long and successful relationship together,” Stuart Banks, Managing Director of Playzido, said.

“We’re delighted to welcome Playzido to the Playtech Games Marketplace. Playzido offers an extensive and innovative games range that will add a further point of differentiation to our platform, and which we know can appeal to licensees and their players in several key markets. This agreement will enable Playtech to further enhance the selection offered via Marketplace and allow Playzido to reach a whole new audience in regulated markets internationally,” James Frendo, Director of Casino at Playtech, said.

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Playtech Launches Live Deal or No Deal – The Big Draw

Niji Narayan

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Playtech Launches Live Deal or No Deal – The Big Draw
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Gambling technology company Playtech has launched its new game “Live Deal or No Deal – The Big Draw.” This bouncing ball game is based on the iconic TV gameshow, Deal or No Deal.

“We’re delighted to be bringing the excitement of one of TV’s most enduring formats to Live. With the addition of the mini draw side game, allowing players to buy multiple tickets with up 6 points of decision making during the game, whether it be to buy more balls or take the bankers offer, Live Deal or No Deal – The Big Draw brings the player a new level of engagement and strategical involvement. For many players, Live play is as much about the experience as it is about gambling, and we’ve seen a growing trend towards gameshow-style formats – which is why we’re so confident Live Deal or No Deal will definitely be a big draw,” Edo Haitin, MD of Playtech Live Casino, said.

“We’re thrilled to be extending our partnership with Playtech through the launch of Live Deal or No Deal – The Big Draw. The in-studio presentation is fantastic and, with the combination of a proven format and innovative elements such as the mini draw, we believe it offers something genuinely unique and entertaining for Live players which aligns with the brand,” Lex Scott, Head of Business Development for Banijay Brands, said.

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888 Holdings Names Jonathan Mendelsohn as its New Chairman

Niji Narayan

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888 Holdings Names Jonathan Mendelsohn as its New Chairman
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Online gambling firm 888 Holdings has named British lobbyist Jonathan Mendelsohn as its next chairman, replacing former chief executive and current chair Brian Mattingley. Mendelsohn will take over the role after Mattingley’s departure at the next annual general meeting in May 2021.

The FTSE-250 firm appointed Mendelsohn as its non-executive director as well, 888 Holdings said, adding that he also joined the board’s remuneration and audit committee.

Mendelsohn is having more than 20 years of industry experience. He previously co-founded Oakvale Capital, which is a leading M&A and strategic advisory boutique focusing on the gaming, gambling and sports sectors.

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