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