Latest News
Mobile Augmented Reality Market to Reach US$ 24 Bn by 2030 as Pandemic Pushes Users to More Virtual Experiences
The credit of unstoppable pace of mobile augmented reality (AR) market significantly goes to the creative industry. Inclusive of video games, live events, retail, and video entertainment, this side of business has definitely challenged mobile augmented technology, pushing it to deliver better solutions. Designed to create immersive experiences, mobile augmented reality has won a special place for game makers. Launch of sophisticated, intricately designed multiplayer games have truly utilized the real potential of solutions presented by this market.
The explosive growth of mobile augmented reality is completely attributable to unprecedented use of smartphones and tablets. From remote places to urban landscapes, mobile AR has made an enormous contribution in changing the way experience museums, office spaces, and games. Since innovations such as Google Glass, the world of mobile AR has evolved to be a part of many other sectors, changing the game for military trainings, healthcare consultations, and learning experiences.
In this light of these factors, study predicts that the global mobile augmented reality market estimated to reach US$ 3 Bn in 2020, surge at a whopping CAGR of 23.2% during the forecast period of 2020 to 2030.
Key Takeaways of Mobile Augmented Reality Market Study
- East Asia to lead the race in the global mobile augmented reality market at a CAGR of 27.2% between the forecast years of 2020 and 2030
- Gaming segment anticipated to retain its leading position with a share of 28% by the end of 2030
- Smartphones and tablets to revolutionize educational experiences with integration of mobile AR
- Services segment to leap ahead at a CAGR of 24.6% during the forecast period as AR design and development, integration and development, and support services find applications across verticals
“The mobile augmented reality market in East Asia is expected to grow at a high CAGR as sales of smartphones with AR apps remains exponential. This eliminates the need for additional hardware to support this technology, which is expected to drive the expansion of mobile AR technology in the region. Mobile augmented reality has also become the new medium for game developers to focus on creative immersive experiences to create a high value proposition for the end use, “says an analyst.
COVID-19 Proves Positive for Mobile Augmented Reality Market
The COVID-19 pandemic has deepened the chasm of economic crisis, making the global population rethink education and entertainment in many ways. With no live events to attend, cancelled sporting events, and uncertainty looming over reopening of colleges and schools, mobile augmented reality found its opening to a plethora of opportunities.
The importance of AR has also surged in healthcare consultations as medical professionals and patients are seeking safety first. Furthermore, a quantum leap in online gaming, schooling, and entertainment as artists are taking gigs online, have collectively resulted in a special demand for mobile AR. Biggest chunk is definitely consumed by the online gaming industry, which has been the strongest pillar of the entertainment during the stringent lockdowns.
According to a study, the mobile augmented reality market will grow 6%-8% by Q3 2020 in the given circumstances.
E-commerce to Enhance Demand for Mobile Augmented Reality
The growing e-commerce industry has been identified as key contributor to the increasing adoption of mobile augmented reality. Integration of mobile augmented reality by retailers to make it more accessible for customers to purchase the right item. Augmented reality helps users to view their products in 3-D, life-like projections in real-time through smartphones and tablets.
Mobile augmented reality offers retailers the opportunity to improve the consumer shopping with real-life experiences. With an augmented reality app, an e-commerce retailer can create a virtual table with a different range of products, projecting it on the customer’s living room. The growing number of purchases via mobile devices and shoppers using smartphones in-store is increasing the demand for mobile augmented reality.
Such enhancement of consumer engagement is projected to bode well of the market in the forecast period.
These insights are based on a report on Mobile Augmented Reality Market by Future Market Insights
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Book of Sobek
Hölle Games Releases Book of Sobek
Hölle Games has released its latest online slot, Book of Sobek. This 5×3, 10 payline slot invites players to dive deep into the magical Nile and enter the aquatic temple of the ancient Crocodile God.
With every spin, the mighty Sobek may rise from the depths to bless the reels. When players manage to uncover 3 or more sacred Books, the temple chambers swing open, granting entry into the Free Games. Within this inner sanctum, a special expanding symbol is chosen; should it land, it will stretch across the reels like the flooding Nile, paving the way for monumental wins of up to 5000x. Featuring both Feature Buy and Fire Stake options, the game is available now for MGA with other markets coming soon.
The post Hölle Games Releases Book of Sobek appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Hub88
Hub88 and Odds88 Enters into Strategic Partnership with MINT
Hub88 and Odds88 have entered a strategic partnership with MINT, the advanced iGaming platform built on Web3 infrastructure, seeking to expand the new operator’s position at the forefront of iGaming innovation.
MINT is designed as a next-generation gaming ecosystem, set to provide tier-one iGaming and sportsbook expertise with the agility of Web3 technology. Backed by industry heavyweights including Hero Gaming, the platform will bring credibility, technical reliability and a premium user experience to a rapidly evolving market.
Through the partnership, Hub88 will provide MINT with seamless access to its portfolio of more than 12,000 titles, while supporting efficient platform development, streamlined integration and long-term scalability through a robust API. Odds88 will provide the operator’s sportsbook platform, with a highly customisable front-end, access to multiple odds feeds, with coverage of more than 1.5 million sports fixtures, and industry-leading risk management.
By leveraging both brands’ expertise, MINT will be able to focus on delivering consistency across verticals, frictionless onboarding and UX innovation – helping bridge the gap between traditional iGaming standards and emerging technological capabilities.
Ollie Castleman, Managing Director at Hub88, said: “MINT represents a new generation of iGaming platforms that are approaching Web3 with the maturity and high standards the industry expects.
“Alongside Odds88, this partnership aligns with our focus on supporting innovative operator brands that prioritise scalability, reliability and user experience.”
Will Fyler, Managing Director at Odds88, said: “We’re thrilled to partner with MINT along with Hub88 as we raise the game. Our vision to disrupt the industry and deliver a truly forward-facing proposition make this collaboration truly exciting.
“The operator is driven by exceptional talent, and we can’t wait to go live this quarter. Let’s get minted.”
Zak Manhire, CEO at MINT, said: “MINT is all about redefining expectations. We will not only push the limits of Hub88 and Odds88 and challenge what’s possible, but in doing so, we’ll grow together, champion innovation, and deliver a platform that surprises players in the best possible way.”
The post Hub88 and Odds88 Enters into Strategic Partnership with MINT appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
ACMA
ACMA: Six Wagering Providers Breach Gambling Self-Exclusion Rules
The Australian Communications and Media Authority (ACMA) has concluded six more investigations into licensed wagering providers for breaches of self-exclusion rules.
The ACMA investigations found Tabcorp, LightningBet, Betfocus, TempleBet, Picklebet and BetChamps all failed to comply with rules that protect people who registered with BetStop – the National Self-Exclusion Register.
The facts of each investigation are different but the breaches across the investigations included allowing registered individuals to open wagering accounts and to access wagering services, or marketing to registered individuals.
ACMA member Carolyn Lidgerwood said these breaches undermine the protections from gambling harm that self-exclusion offers.
“The national self-exclusion register is designed to help people who are trying to avoid gambling services and stop gambling, but self-exclusion only works if wagering providers follow the rules,” Ms Lidgerwood said.
“These rules have been in place for more than two years and wagering providers should be taking their responsibilities seriously.
“When people decide to self-exclude from online and telephone gambling, they trust the system to protect them from gambling harm. These investigations have found that these companies broke that trust and let people down.
“All licensed wagering providers need to be aware that the ACMA is investigating compliance and enforcing the rules. Gambling companies must have effective systems in place to ensure self-excluded people cannot gamble with them.”
The investigations identified that the providers did not ensure that their underlying systems and processes were operating as intended and failed to adequately identify and protect people who had self-excluded.
In response to these findings, the ACMA has used a range of different enforcement tools available under the Interactive Gambling Act 2001, having regard to the different facts arising under each investigation.
The ACMA has issued remedial directions to each of Betfocus, LightningBet and TempleBet. Under these remedial directions each of the providers will be required by law to commission an independent audit of their systems and implement any resulting recommendations.
This type of enforcement action is corrective and directed at future compliance with the rules. Failure to comply with a remedial direction is an offence and can result in civil penalties.
Tabcorp Holdings paid a penalty of $112,680 and agreed to enter into a court-enforceable undertaking requiring the company to commission a third-party review of its customer verification processes and train staff on their obligations around the Register. If not complied with, such an undertaking can be enforced in the Federal Court, with the Court being able to make such orders as it considers appropriate.
BetChamps was given a formal warning and the ACMA is currently finalising enforcement action for Picklebet.
All contraventions were found to have occurred in 2024. If these companies fail to comply with self-exclusion rules in the future, the ACMA may take stronger enforcement action, potentially including commencement of Federal Court proceedings to seek civil penalties.
The post ACMA: Six Wagering Providers Breach Gambling Self-Exclusion Rules appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
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