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.
Request Sample Report at: https://www.alliedmarketresearch.com/request-sample/2135
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.
For Purchase Enquiry: https://www.alliedmarketresearch.com/purchase-enquiry/2135
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.
Industry News
SKS365 keeps investing in people: GROW People Management Program took the next level
11 experienced people managers from the SKS365 group’s 4 locations gathered last week in Belgrade for the new GROW People Management Program. From 15 th to 19 th of April, through trainings, discussions, and social connections, people had the opportunity to further grow individually and as a team, while enjoying Belgrade’s city center and rivers.
Created in 2023 with the purpose of building foundation people management skills across the organization, GROW initiative evolved this year by including a new, advanced program for experienced people managers to further consolidate their skills and prepare for future opportunities.
Building and fostering connections, sharing experiences, and enjoying team building experiences – all these activities have been part of the GROWpmp agenda for the 11 people managers coming from Commercial, Product and Development, Finance, and Sportsbook departments of the group’s 4 locations – Malta, Italy, Austria, Serbia.
GROWpmp included a variety of topics that people managers in SKS365 recognized as the key areas for management development. Topics such as influence through communication, team effectiveness, DEI, through to presentation skills and business topics like understanding finance and management reporting, were delivered with the support of external professionals and internal experts, while designed and organized by the SKS365 People & Culture team.
Industry News
Kindred’s Share of Revenue from High-risk Players Shows Slight Increase
Kindred Group plc’s (Kindred) share of revenue from high-risk players showed a slight increase to 3.2% (Q4 2023 3.1%) in the first quarter of 2024. Compared to the first quarter of 2023, the high-risk revenue share decreased marginally. The percentage of detected customers who exhibited improved behaviour after interventions came in at 87.1% (compared to 87.4% in Q4 2023 and 83.0% in Q1 2023). This sustained trajectory in the improvement effect after interventions, observed over an extended period, serves as a testament to the strong dedication and collective efforts throughout the company. It reflects Kindred’s ongoing commitment to fostering positive change within the industry.
“We continue to see our share of revenue from high-risk players fluctuate quarter to quarter, and we are working closely with all teams across the company to support customers towards a more sustainable gambling experience. However, it is encouraging to see that our Journey towards Zero data has steadily decreased since 2020. A similar trend can be seen across the healthier gambling behaviour effect after interventions. This tells us two things: our work is paying off, but we need to continue to push ourselves to propel a sustainable progression,” Alexander Westrell, Director of Communications at Kindred Group, said.
“It was very encouraging to witness the open and transparent discussions at the Sustainable Gambling Conference in London on 20 March, where those with lived experience shared their important stories. Also, it is evident that technology is moving forward, and will provide greater opportunities to detect and intervene in the future. We hope to see more regulators engage with the industry and with experts to secure a more sustainable industry for everyone,” Alexander Westrell added.
Industry News
PENN Entertainment Names Aaron LaBerge as Chief Technology Officer
PENN Entertainment announced that Aaron LaBerge has been named Chief Technology Officer (CTO) effective July 1, 2024, subject to customary regulatory approvals. Mr. LaBerge will report directly to PENN CEO & President Jay Snowden.
In his new role, Mr. LaBerge will be responsible for driving the technology strategy and execution for PENN, while leading the multinational team of technologists and serving as the key business leader for the company’s Interactive division.
Mr. LaBerge spent more than 20 years at The Walt Disney Company, in two stints separated by five and a half years as a technology entrepreneur. He was most recently President & Chief Technology Officer for Disney Entertainment and ESPN where he was responsible for driving all technology and product development in support of The Walt Disney Company’s two media divisions. In that role, he helped set the vision and strategic leadership for how Disney uses technology to enable storytelling and innovation, drive its business, and create unparalleled consumer experiences with entertainment and sports content.
“We are thrilled to have someone of Aaron’s caliber join our PENN executive team. Having overseen a global organization of thousands of engineers, product developers, designers, technologists, and data scientists that created some of the largest scale and most successful media properties in the world, there is no better candidate to lead our Technology and Interactive division into its future. I know Aaron is looking forward to working with Todd George, our head of operations, and our entire Executive Team to continue growing our position as a leader in online gaming, sports betting, and digital sports media,” Mr. Snowden said.
“I’m excited to join another talented team at PENN Interactive and lead our technology strategy. PENN Entertainment is at the forefront of the fast-changing gaming and sports media industry. I plan to use my experience from Disney and ESPN to help make ESPN BET an essential piece of the sports fan experience. Together, we’ll push the limits and redefine how fans interact with sports and gaming,” Mr. LaBerge said.
Prior to his most recent role at the Walt Disney Company, Mr. LaBerge was Executive Vice President and Chief Technology Officer at ESPN from 2015 to 2018. At ESPN he played an instrumental role in the growth of ESPN’s consumer-facing digital media products and services – leading many of ESPN’s most ambitious and challenging projects and helping establish ESPN’s position as the leader in digital sports and innovative sports technology development. He was a key architect in the design, development, and engineering of ESPN’s state-of-the-art facilities in Bristol, CT; Los Angeles, CA; Charlotte, NC; and Austin, TX, as well as data centers and infrastructure that connect those facilities around the world, as well as the technology design and development to support the launch of the multi-platform SEC Network.
Between 2007 and 2012, LaBerge was co-founder and CEO of Fanzter, Inc. – a venture-funded consumer software and digital product development company. At Fanzter, he directed all day-to-day operations and led the development and launch of a variety of consumer-focused internet and mobile products, ground-breaking social and commerce technologies and more.
-
Asia7 days ago
Maharashtra Government rewards state’s Asian Games 2022 Esports athletes with INR 10 lakhs; marks historic moment for Indian Esports
-
Central Europe6 days ago
Wazdan amplifies Swiss presence with Swiss4Win launch
-
Asia6 days ago
PAGCor Welcomes Lawyer Wilma Eisma as New President and Chief Operating Officer
-
Latest News6 days ago
Evoplay strikes distribution agreement with Light & Wonder
-
Compliance Updates6 days ago
GoldenRace is now certified in the Netherlands
-
Latest News7 days ago
Altenar releases trio of betting widgets to enhance customer engagement
-
Australia7 days ago
SkyCity Appoints Jason Walbridge as Chief Executive Officer
-
Latest News6 days ago
Xtremepush Expands Reach in Brazil Through Senna Sport Deal