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Mobile Augmented Reality Market to Reach US$ 24 Bn by 2030 as Pandemic Pushes Users to More Virtual Experiences

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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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Ellis Park Stadium signs five-year naming rights deal with 10bet

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Johannesburg venue rebrands as 10bet Ellis Park under new partnership agreement.

Ellis Park Stadium has signed a five-year naming rights agreement with sportsbook brand 10bet, rebranding the Johannesburg venue as 10bet Ellis Park.

10bet Africa Marketing VP Michelle Colborne said: “We are incredibly proud to announce 10bet as the official naming rights partner of Ellis Park Stadium,” adding, “This is more than a naming rights agreement; it is the start of an exciting journey with a stadium that has played such a powerful role in South African sport.”

Ellis Park Stadium Managing Director Pieter Burger said the deal marks “a fresh and exciting chapter for the stadium,” adding: “We are delighted to welcome 10bet into the Ellis Park family as our official naming rights partner.”

10bet brand ambassador and former Springbok Butch James said: “Ellis Park has always been one of the most iconic stadiums in world rugby, and it’s fantastic to see 10bet committing to such a significant partnership.”

The parties said the partnership will focus on improving the matchday experience and, “in partnership with the relevant stakeholders,” supporting the inner-city project around the stadium precinct.

The post Ellis Park Stadium signs five-year naming rights deal with 10bet appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.

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PG Soft rolls out Monkey’s Wild Party slot with wild-conversion mechanic

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New 5×5 cascading-reels title adds Wild Mushroom chain reactions, multipliers and a Free Spins feature with a Feature Buy option.

PG Soft has released Monkey’s Wild Party, a new video slot set on a 5×5 grid with cascading reels, increasing multipliers and Wild Mushroom symbols that convert adjacent monkey symbols into wilds.

The title’s core mechanic centres on Wild Mushroom symbols that can appear in any spin. When a Wild Mushroom lands, any Gorilla, Baboon or Marmoset symbol touching it horizontally or vertically transforms into its Wild Monkey equivalent. Additional monkey symbols that land on a Wild Monkey can also convert, creating chain reactions across the grid.

After wins are paid, Wild Monkey symbols that contributed to a win become Wild Mushroom symbols in the next round. PG Soft also says there is a chance for an extra Wild Mushroom symbol to be added to the reels at the end of any spin. In the base game, the multiplier starts at x1 each spin and increases by one after each winning combination, following the payout and cascade.

The Free Spins feature triggers with three Free Spin symbols anywhere on the reels and starts with eight free spins, with two extra spins awarded for each additional Free Spin symbol. The multiplier resets to x1 at the start of the feature and increases by one after every winning cascade. A +1 Spin symbol awards an extra free spin during the feature. Players can also access the feature via a Feature Buy option at the displayed price, with PG Soft stating potential wins of up to x10,000 of the initial bet.

PG Soft’s spokesperson commented: “Monkey’s Wild Party is a riot of colour and mischief, taking players into an enchanted jungle where every spin sparks a fresh wave of wild reactions. The Wild Mushroom mechanic is the key to the game, with the climbing multipliers in Free Spins ensuring rewards build with every spin.”

The post PG Soft rolls out Monkey’s Wild Party slot with wild-conversion mechanic appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.

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Soft2Bet hires Ryan Collinge as EVP for business development and partnerships

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Collinge joins as Executive Vice President – Group Business Development & Strategic Partnerships, bringing 20+ years across retail and online gaming.

Soft2Bet has appointed Ryan Collinge as Executive Vice President – Group Business Development & Strategic Partnerships, adding him to its senior leadership team.

In the role, Collinge will focus on supporting Soft2Bet’s growth plans and strengthening relationships with operators and entertainment brands, the company said.

Andrew Cochrane, Chief Commercial Officer at Soft2Bet, said: “Ryan brings the commercial judgement, industry relationships and operational experience needed to support Soft2Bet’s growth. His appointment strengthens our executive team as we expand our work with leading operators and global entertainment brands.”

Soft2Bet said Collinge brings more than 20 years of commercial, product and operational experience across retail and online gaming, including work with private equity-backed start-ups and multinational gaming groups. The company added that his background includes global sales, commercial strategy and business development, along with iGaming content, product development and studio management.

Soft2Bet also pointed to Collinge’s experience in the casino content vertical, which it said will support client needs analysis and solution optimization.

The post Soft2Bet hires Ryan Collinge as EVP for business development and partnerships appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.

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