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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
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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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Playtech Extends its Bingo Partnership with Rank Group

Niji Narayan

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Playtech Extends its Bingo Partnership with Rank Group
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Gambling technology company Playtech has announced a five-year extension of its partnership with The Rank Group to exclusively provide its Bingo platform in addition to games content.

The new Bingo deal covers Rank’s long-established Mecca Bingo brand, plus two new brands, Lucky Pants and Kitty Bingo.

“Rank is a much-valued Playtech partner and, following Rank’s launch of Playtech’s Poker platform and content, this latest agreement represents a key milestone in our working relationship. With terms also recently agreed to continue delivering Casino services, we’re proud to be providing the technology and content behind all three of Rank’s core verticals, and look forward to continuing to build on our partnership over the next five years,” Angus Nisbet, Director of Digital Bingo at Playtech, said.

“With bespoke content development at the heart of the agreement, we can continue bringing fresh, innovative content to Mecca Bingo players, as well as introducing new and classic content to a whole new audience through the Lucky Pants and Kitty Bingo brands,” Angus Nisbet added.

“We are an entertainment-first brand, so it is imperative that we drive innovation and growth by always exceeding the expectations of our customers. As such, we are delighted to be continuing and extending our long working relationship with Playtech. We continue to build on our market leading position and sustained growth and Playtech has a track record like no other supplier, both as a technology provider and content developer, making them a clear choice as our exclusive long-term Bingo provider,” James Boord, CMO at Rank, said.

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SkillOnNet Launches Turbonino

Niji Narayan

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SkillOnNet Launches Turbonino
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Online casino platform provider SkillOnNet has announced the launch of Turbonino, its second Pay N Play Trustly player registration and verification product, already well established in countries such as Sweden, Finland and Germany.

The brand joins in excess of 100 other Trustly Pay N Play casinos launched to date, with the product bundling deposits and registration in such a way as to allow players to start playing immediately with only their first deposit and no registration being required.

Turbonino boasts a games portfolio of more than 3000 igaming titles from leading suppliers, with players also able to access bonuses, promotions and slot tournaments depending on their geo location.

Michael Golembo, sales and marketing director at SkillOnNet, said: “We have taken our time watching pure Pay N Play become a new standard in the online gambling industry proving hugely popular in markets such as Germany, Sweden and Finland.

“We have experienced them compete alongside our own casinos vying for players and have been impressed with the growth and lately the professionalism many of these Brands are now exhibiting.

“And now it’s Turbonino’s time combining the tremendous benefits of Pay N Play with many features that make SkillOnNet casinos so popular with players around the world.”

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GameArt Joins Stakelogic’s Greenlogic Partner Programme

Niji Narayan

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GameArt Joins Stakelogic’s Greenlogic Partner Programme
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GameArt, the leading provider of high-quality digital gaming products, has partnered with Stakelogic to take advantage of its Greenlogic programme.

GameArt will now have access to over 500 operators worldwide through the Stakelogic developer’s partner platform, significantly boosting GameArt’s global presence and introducing their unique content to new markets.

Offering access to some of the biggest names in the industry, such as Kindred, Pokerstars, GVC and Betsson, the Greenlogic partner platform has already proven extremely popular and gained industry-wide recognition, attracting well established providers and some of the best up-and-coming studios to join its family.

“Our Greenlogic partner program has been an unparalleled success to date, and this is only emphasised by GameArt becoming the latest studio to sign on. It is our aim at Stakelogic to provide the very best gaming content available, either through our own talented in-house studio or via the impressive capabilities of independent studios who may be finding it hard to gain a foothold in such a competitive market place, or choose to fully focus on game development. GameArt is a stellar signing for Greenlogic and we look forward to working with their team for many years to come,” Stephen van den Oetelaar, CEO of Stakelogic, said.

“This is a pivotal moment in GameArt’s history and one which demonstrates the level of excellence our dedicated team have reached in the art of game development. Being able to offer our extensive library of games to even more operators across even more markets is a very exciting prospect, and one which we intend to grasp with both hands,” Stefano Picone, CEO of GameArt, said.

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