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New Growth Opportunities In Virtual and Augmented Reality | What To Expect in The Future

George Miller

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New Growth Opportunities In Virtual and Augmented Reality | What To Expect in The Future
Reading Time: 2 minutes

 

Virtual and augmented reality is a suite of hardware, service and software components allowing end-users to visualize and experience virtual environment in real-time. Both virtual reality (VR) and augmented reality (AR) are expected to witness strong demand globally largely due to growing application in end-use sectors such as healthcare, education, gaming, media and entertainment, and others. Constant innovation in technology is expected to create demand for new VR and AR solutions in the coming years.

Furthermore, the demand for compact VR and AR hardware devices is expected to create demand for new VR and AR hardware devices. The VR and AR ecosystem players include hardware, service and software vendors. In the coming years, both software and service vendors are expected to play crucial role in expanding the adoption of VR and AR across multiple end-use applications. The revenue of the global VR and AR market stood at US$ 16,806.1 Mn in 2019; this is projected to expand at a CAGR of 86.0% during the forecast period (2019 to 2027) and reach US$ 2,408,749.7 Mn by 2027.

North America was the largest geographical market in terms of revenue in 2019. The presence of a large number of VR and AR players and high consumer demand led by high consumer disposable income is expected to support the demand for VR and AR in North America in the coming years. The U.S. is expected to be a significant contributor to the VR and AR market in North America. Europe is anticipated to contribute significant market share during the forecast period owing to demand from media and entertainment, manufacturing, and gaming sectors over the forecast period.

Due to high economic growth, Asia Pacific is expected to register significant growth for VR and AR solutions in the coming years. Countries such as China and India are expected to witness considerable adoption of VR and AR solutions. Middle East & Africa (MEA), and South American countries are expected to contribute less to the VR and AR market in the coming years as compared to other regions.

The demand for software and service by component segmentation is expected to remain significant in the North American, Asia Pacific and European regions. Media and entertainment, and gaming segments are expected to make major contributions to the growth of the VR and AR market in MEA and South America.

The hardware segment is anticipated to account for a significant market share among all other types of component segments in the VR and AR marketplace throughout the forecast period. The software and service segments under component segmentation are expected to register high CAGR growth as compared to hardware segmentation over the forecast period.

Media and entertainment, gaming, and healthcare segments are expected to contribute considerable market share under different VR and AR end-use applications over the forecast period. The automotive segment is expected to account for the highest growth rate over the forecast period until 2027 among all end-use applications.

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Frankie’s on board with Sporting Index

George Miller

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Frankie's on board with Sporting Index
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World’s top jockey joins leading bookmaker to offer unique insight for the 2020 Flat racing season

Sporting Index has made the landmark signing of world-class jockey Frankie Dettori, widely regarded as one of the greatest riders of all time, as a brand ambassador.

The deal will see Dettori carry the Sporting Index logo on his breeches and collar, offer exclusive thoughts on his rides at sportingindex.com and support with social media posts and daily previews during the season’s major meetings, such as Royal Ascot.

The Italian’s unrivalled achievements in the Flat racing sphere consist of 19 British Classics, including two Derby wins at Epsom, and an astonishing 251 Group 1 victories worldwide. He currently holds the LONGINES World’s Best Jockey Award and has done so for three of the last five years.

Sporting Index, who launched a fixed odds offering in 2019 to run alongside its well-established spread betting service, also currently sponsor leading National Hunt jockey Barry Geraghty, who celebrated a vintage Cheltenham Festival with five wins in March.

Simon Trim, CEO at Sporting Index, said: “Frankie is the face of Flat racing, if not horse racing as a whole, so it’s hugely exciting to have him as a Sporting Index brand ambassador.

“He is often riding the most talked about horses of the season, like Enable and Stradivarius, and we’re delighted to be able to bring racing fans closer to that with his regular blog.

“Even though he has cost us plenty of money over the years, no-one has done more to promote the sport of horse racing and we couldn’t be happier to have him on board.”

Frankie Dettori, said: “I’m over the moon to be joining Sporting Index ahead of the new Flat season. There are some top-quality horses that I can’t wait to get on this year, and I look forward to telling readers all about them.

“I saw over the winter that Barry Geraghty had plenty of success with Sporting Index on his breeches, so hopefully it’s the same for me too!”

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Playtech “Takes Full Responsibility” and Apologises for PTES Failings

Niji Narayan

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Playtech “Takes Full Responsibility” and Apologises for PTES Failings
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Playtech has issued an apology for the failings of its PT Entertainment Services (PTES) subsidiary.

The case saw a customer sign up for an account in December 2016, ultimately spending £4.5m (€5.0m/$5.5m) on PTES’ Winner and Titanbet brands – losing £119,395 between 1 to 5 April 2017 alone – before committing suicide.

The UK Gambling Commission’s investigation uncovered widespread failings in the business’ social responsibility and anti-money laundering processes that resulted in no action being taken over the individual’s excessive gambling.

“We take full responsibility for these regulatory breaches. As a technology specialist, Playtech focuses on harnessing its capabilities in data-driven intelligence to place consumer protection at the centre of every stage of the player experience from game design to real-time engagement and messaging,” More Weizer, Chief Executive of Playtech, said.

“In recent years, we have invested significantly to seek to ensure that these types of breaches do not happen again, including addressing the specific issues raised by the Commission,” More Weizer added.

Playtech’s board extended its “deepest sympathies” to the victim’s family. Its interim chair, Claire Milne, will be contacting the family to apologise personally for the B2C subsidiary’s failings.

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Industry News

Bojoko Special Report assess the impact of Covid-19

George Miller

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Bojoko Special Report assess the impact of Covid-19
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Online casino comparison site has created a report that looks at what the pandemic means for the industry and how it can move forwards on a positive footing

Bojoko.com has created a special report analysing the impact of the Covid-19 pandemic on the online casino sector.

The online casino comparison site has used Google Trends data to see how consumers have reacted to the global sports blackout and what this means for online casino operators.

Some of the headline numbers show:

  • Sports betting search terms have declined from February to April. In particular, searches for “Best Betting Sites” and “Sports Betting UK” fell 41% and 33% respectively.
  • Online casino search terms have increased in volume over the three-month period, with “Best Casino Sites” enjoying a 78% increase in volume between February and April.
  • “New Online Casino” search volume recorded a 31% increase over the three months but made the biggest jump between March and April with its score increasing 50% MoM.
  • There were spikes in sports betting search terms on April 4 when the Virtual Grand National took place and casino search terms on Valentine’s Day.

The report also includes expert analysis and comment from a range of contributors, including operators, game developers and responsible gambling experts.

Joonas KarhuChief Business Officer at Bojoko, said: “We have created this report as a record of this unprecedented time in the history of the online gambling industry.

“But we also want it to act as a blueprint for how the sector can come out the other side on a positive footing and ensure it is business as usual as soon as possible.

“I’d like to thank those that have provided their opinion and insight and hope that the Bojoko Special Report provides understanding and value to all industry stakeholders.”

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