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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Ani Kobaldze
REEVO Announces New Partnership with Esoterica Games
REEVO has announced a new partnership with Esoterica Games, a fast-growing provider of innovative casino content. This collaboration further strengthens REEVO’s aggregation ecosystem, expanding its offering with a diverse portfolio that includes slots, crash games, player-to-player experiences and instant games.
Through this partnership, Esoterica Games’ portfolio is now available on the REEVO aggregation platform, giving operators seamless access to a wide range of creative and flexible gaming experiences through a single integration. The addition of Esoterica Games reinforces REEVO’s commitment to building a platform that delivers both variety and performance across multiple player segments.
For REEVO, this partnership reflects its continued focus on expanding its aggregation platform with forward-thinking studios that bring creativity and innovation to the ecosystem.
Daniel Cuc, Head of Account Management at REEVO, said: “Partnering with Esoterica Games is an exciting step forward for REEVO as we continue to expand our aggregation platform with innovative and diverse content. Their ability to deliver multiple game formats, from slots to crash and P2P experiences, adds real depth to our ecosystem. At REEVO, we focus on giving operators access to content that stands out and performs, and this partnership strengthens our ability to deliver engaging and flexible experiences across different markets.”
Ani Kobaldze, Account Manager at Esoterica Games, said: “We are excited to partner with REEVO and bring our portfolio of innovative games to an even wider audience. This partnership represents an important step in expanding our global reach and delivering high-quality gaming experiences to more operators and players worldwide. By combining our unique portfolio with REEVO’s strong distribution network and commitment to quality, we look forward to creating even greater value for operators and players alike.”
The post REEVO Announces New Partnership with Esoterica Games appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Betway
Betway Signs Real Madrid Legend Guti as Brand Ambassador
Betway officially signed Real Madrid legend Jose María Gutiérrez ‘Guti’ as a new brand ambassador for their Spanish market operations.
A true Spanish football legend, Guti came through the Real Madrid youth academy before making his first-team debut in a 4-1 win over Sevilla at The Bernabéu in December 1995. He went on to represent ‘Los Blancos’ 542 times between 1995 & 2010, scoring 77 goals and helping the club to 15 major trophies. He received his first cap for Spain in May 1999 and went on to represent his country on 13 occasions between 1999 and 2005.
Guti left his beloved Real Madrid in 2010, playing one final season for Turkish side Besiktas, before hanging up his boots in 2012. Post-retirement, coaching positions at Real Madrid and Besiktas led to his appointment as manager of Segunda side Almeria in 2019. Since leaving the club the following year, he has gone on to work in TV punditry, becoming a highly respected figure within the Spanish football media.
“Guti joins Betway as one of the greatest legends in Real Madrid’s recent history. He represents loyalty to the colours, excellence, and the purest talent in world football, making him the perfect ambassador for Betway in Spain,” Ignacio Alonso, Marketing Manager for Betway Spain, said.
“I’m excited to join Betway Spain as an ambassador. My time in elite football showed me that quality and commitment are inseparable; today, I’m proud to represent those values with a market leader and share this path with all of you,” Guti said.
The post Betway Signs Real Madrid Legend Guti as Brand Ambassador appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Compliance Updates
KSA Tightens Gambling Ad and Betting Rules Ahead of FIFA World Cup
The Dutch Gaming Authority is intensifying its supervision of advertising and sports betting during the World Cup this summer. Prior to the World Cup, Dutch license holders were specifically reminded by letter of the applicable rules regarding advertising and betting offers.
In the letter, the KSA points out, among other things, the ban on untargeted advertising and sports sponsorship. The KSA also reminds providers that not all types of online betting are permitted in the Netherlands; for example, betting on who receives a yellow card or the first corner kick is not allowed. In the event of violations, the KSA takes immediate enforcement action.
During this period, the KSA is also extra vigilant regarding illegal providers and advertising for illegal offerings: immediate punitive action is being taken in these cases as well. Additionally, during the World Cup, attention is being paid to the risks of sports betting, particularly to raise awareness among young people.
Michel Groothuizen, Chairman of the Board of the Gaming Authority, said: “We saw at the 2022 World Cup and 2024 European Championship that gambling increased. This makes it attractive for companies to attract new players during that period. While I understand this, I strongly urge providers to remain mindful of the protection of young adults and other vulnerable groups, and to adhere to the applicable rules. If we observe that this is not happening, we will take immediate action.”
The post KSA Tightens Gambling Ad and Betting Rules Ahead of FIFA World Cup appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
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