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Global Virtual Reality In Gaming Market Is Poised To Value Over US$ 38,331.5 Million by 2027 End

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The Global Virtual Reality in Gaming Market is expected to be valued at US$ 38,331.5 million by 2027, exhibiting a CAGR of 28.6% during the forecast period of 2020 to 2027, as highlighted in a report published by Coherent Market Insights.

Virtual reality is the use of computer technology to create a simulated environment using computer software and hardware technologies. VR technology has been used in many applications including entertainment and gaming. Virtual reality in gaming is referred to the use of sound and graphics technology in games where the user wears gloves, head-mounted display (HMD), and glasses as a part of their experience. There are several equipped to these devices that record the movement.

Growing digitization and advancement in technology is expected to boost the global virtual reality in gaming market growth over the forecast period
Over the years, both developed and emerging economies have witnessed massive digitization. This is complemented with advancements in technology, in order to expand the use of virtual reality devices. There are various technological advancements are expected in the near future namely wide field-of-view AR displays, transition from PC-based to standalone mobile VR devices, 5G mobile devices, and more. Such technological advancements enhance the user experience and reduce the latency up to a significant level. Hence, these factors are expected to drive growth of the global virtual reality in gaming market growth over the forecast period.

Launch of novel products can present lucrative growth opportunities for market players
Key players are focused on research and development activities, in order to expand the product portfolio and gain a competitive edge in the market. For instance, in May 2014, Electronic Arts Inc. launched EA Sports NHL 15, the first title in a new generation of hockey games. In August 2013, Nintendo Co. Ltd. introduced a 2DS handheld gaming device. The device enabled the user to play 3DS and all other games with the device. Furthermore, in February 2014, Sony Corporation launched its virtual reality headsets named HMZ- T3Q VR.

Challenges associated with user-friendly VR are expected to hamper the global virtual reality in gaming market growth over the forecast period
Despite its various advantages such as enhanced quality and realistic experience, many VR devices are not user friendly. Some of those devices are complicated to use and require adequate training long before they used for gaming experience. Manufacturers are required to provide a user-friendly device that can be operated by a layman as well. Hence, such factors are expected to hamper the global virtual reality in gaming market growth over the forecast period.

North America Trends

According to Coherent Market Insights’s study among regions, North America is expected to witness significant growth in the global virtual reality in gaming market during the forecast period. This is owing to the large presence of major VR companies across the region. Furthermore, growing investment in cutting-edge technologies is expected to propel the global virtual reality in gaming market growth over the forecast period.

Europe Trends

Europe is expected to register robust growth rate in the global virtual reality in gaming market over the forecast period. This owing to constant digitalization of various industries across the region. Furthermore, high growth of VR market in France is expected to boost the regional market growth over the forecast period.
Global Virtual Reality in Gaming Market – Impact of Coronavirus (Covid-19) Pandemic
The countries such as China and India, are play crucial role in the supply chain of virtual reality in gaming market. In the span of lockdown the supply chain in these countries mainly disturbed. Many industries were forced to close down their manufacturing site or remained operational with limited people working on the shop floor, which lowered the production capacity of factories. Further, demand for non-essential products decreased during the pandemic. This hindered the market growth during the pandemic.

Competitive Section
Key companies operating in the global virtual reality in gaming market are Electronic Arts Inc., Kaneva LLC, Nintendo Co. Ltd, Avatar Reality Inc., Sony Corporation, Oculus VR, Activision Publishing Inc., and Sega Corporation.

Key Developments

Major companies are focused on research and development activities, in order to enhance the market presence. For instance, in May 2020, Oculus VR, a subsidiary of Facebook Inc., announced that it is developing a new Quest VR headset of 90Hz for the smoother gaming experience.
Key market players are involved in collaborations and partnerships, in order to gain a competitive edge in the market. For instance, in December 2017, Sega Corporation collaborated with StarVR to introduce premium VR arcade experience in Japan.

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Adam Pentecost Chief Revenue Officer at Gaming Corps

Gaming Corps Taps Betty to Boost Content Options for Ontario Players

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Gaming Corps, a publicly traded game development firm located in Sweden, has entered into a new distribution deal with Betty, one of the rapidly expanding iGaming operators in Ontario. The agreement enhances Betty’s platform with Gaming Corps’ growing collection of content, increasing options for players in a market where the brand currently provides over 2,800 slot titles.

Thanks to the collaboration, Betty customers will soon enjoy the latest slot releases from Gaming Corps, featuring 3 Easter Pigs, the latest chapter in the well-known 3 Pigs series, which adds a new seasonal element to one of the studio’s most iconic franchises. Players will also gain access to the latest release, Vendetta Fury, from DEGEN Studios, Gaming Corps’ newest RGS partner.

This launch leverages the solid success of the broader 3 Pigs franchise, featuring games like 3 Pigs of Olympus and 3 Pigs of the Caribbean that are already part of Gaming Corps’ collection. These are included with the studio’s wider range of Slots, Plinko, Mine, Crash, and Table games.

Adam Pentecost, Chief Revenue Officer at Gaming Corps, said: “Ontario has become one of the most exciting regulated markets in North America, and Betty has built an impressive reputation by offering players both quality and variety. We’re delighted to partner with such a progressive operator and look forward to showcasing how our latest content can bring something genuinely different to their already rich portfolio.”

Paraskeva Smirnova, Senior Casino Operations Manager at Betty, added: “Betty has built its identity on being a homegrown Ontario brand with a clear focus on what local players want. Working with Gaming Corps allows us to continue that mission, adding content that stands out and gives our players something new to discover alongside the thousands of titles we already host.”

The post Gaming Corps Taps Betty to Boost Content Options for Ontario Players appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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Adam Pentecost Chief Revenue Officer at Gaming Corps

Gaming Corps partners with Betty to expand content choice in Ontario

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Gaming Corps has signed a new distribution agreement with Betty, one of Ontario’s fastest-growing iGaming operators. The deal adds Gaming Corps’ expanding suite of content to Betty’s platform, strengthening the choice for players in a market where the brand already offers more than 2,800 slot titles.

Through the partnership, Betty customers will soon have access to the latest Gaming Corps slot releases, including 3 Easter Pigs, the newest instalment in the popular 3 Pigs series, which introduces a fresh seasonal twist on one of the studio’s most recognisable franchises. Players will also have access to Gaming Corps’ newest RGS partner, DEGEN Studios’, latest release, Vendetta Fury.

This launch builds on the strong performance of the wider 3 Pigs franchise, with titles such as 3 Pigs of Olympus and 3 Pigs of the Caribbean already established within Gaming Corps’ portfolio. These sit alongside the studio’s broader offering of Slots, Plinko, Mine, Crash and Table games.

Adam Pentecost, Chief Revenue Officer at Gaming Corps, said: “Ontario has become one of the most exciting regulated markets in North America, and Betty has built an impressive reputation by offering players both quality and variety. We’re delighted to partner with such a progressive operator and look forward to showcasing how our latest content can bring something genuinely different to their already rich portfolio.”

Paraskeva Smirnova, Senior Casino Operations Manager at Betty, added: “Betty has built its identity on being a homegrown Ontario brand with a clear focus on what local players want. Working with Gaming Corps allows us to continue that mission, adding content that stands out and gives our players something new to discover alongside the thousands of titles we already host.”

The post Gaming Corps partners with Betty to expand content choice in Ontario appeared first on Americas iGaming & Sports Betting News.

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Digital Isle of Man

The Isle of Man: Where eGaming Software Businesses Are Thriving

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Introduction

The global eGaming industry is highly competitive, technologically driven and heavily regulated. For software providers operating in this space, choosing the right jurisdiction is critical to long-term success. The Isle of Man is trusted by industry-leading suppliers such as Microgaming, Games Global, 3Oaks, Arrise (Pragmatic Play), and Altenar, to name a few, and has established itself as one of the world’s leading hubs for eGaming through a unique combination of tax efficiency, regulatory credibility, stability and technological infrastructure. This article explores the key advantages of being located on the Isle of Man.

Competitive Tax Environment

One of the most compelling reasons to base an eGaming software company in the Isle of Man is its favourable tax regime. Suppliers based on the Island receive the following advantages to maximise profitability and support international expansion:

  • 0% Corporation Tax
  • 0% Capital Gains Tax
  • 0% Inheritance Tax

Reputation and Credibility

The Isle of Man is widely recognised as a tier one licensing jurisdiction. The Gambling Supervision Commission’s (GSC) enforcement of strict compliance standards means that attaining a licence is a testament to the integrity and good standing of the supplier. Licensed suppliers gain reputational benefits, which in turn create greater opportunities to engage with partners, including operators, aggregators, banks, and payment providers.

For more information regarding the Isle of Man’s software supplier licence, Global Gaming Solutions has released other articles explaining in detail what distinguishes the Island from other licensing options.

However, for Isle of Man software suppliers, a licence is not a mandatory requirement. This places the Isle of Man in an ideal position for startup suppliers, offering unique tax, infrastructure and Government driven financial incentives, with an attractive opportunity to expand into the regulated sector once their concept and strategy are proven.

Playzia, a client of Global Gaming Solutions, has leveraged this opportunity to establish operations in the Isle of Man and has built the brand into a recognised international name, partnering with leading operators and securing exclusive titles such as Love Island.

Access to Global Markets

eGaming software companies based in the Isle of Man enjoy significant operational flexibility. As an outward-facing jurisdiction, the Island maintains a strong international reputation (particularly across Europe and Asia), and obtaining a local licence does not restrict suppliers’ target markets outside sanctioned or blacklisted jurisdictions or those with local regulatory regimes. As such, the Isle of Man provides suppliers with the reach needed to establish their brands in a global market.

In an industry where market access can determine success, an Isle of Man company, and more so a licence holder, has greater access to key partners through its reputation and credibility than “competitor” jurisdictions such as Curacao, Belize, Anjouan and Tobique. As a result, companies can scale internationally with fewer operational barriers, making the Island an ideal base for growth-oriented businesses.

As global markets mature and establish local regulatory regimes, the Isle of Man remains relevant. The ability to hold regulated licenses such as UK, Ontario, Irish, and Finnish licenses through an Isle of Man company allows suppliers to maintain their advantageous position and global focus, whilst also utilising their structure to enter competitive regulated markets. As evidence of this, Global Gaming Solutions has supported leading aggregator St8, securing successful Ontario and UK licences to scale rapidly whilst maintaining operations on the Island.

Advanced Technological Infrastructure

The Isle of Man offers world-class digital infrastructure tailored to the eGaming sector’s needs. High-speed internet connectivity, secure data centres, and reliable telecommunications systems provide a strong foundation for suppliers operating internationally.

The jurisdiction also supports emerging technologies such as cryptocurrency payments, which are increasingly utilised operationally by suppliers. CoinCorner, a local Bitcoin service provider, boasts over 350,000 users and 10 years of service, providing on-the-ground support to local and international businesses.

Government Support and Business-Friendly Environment

The Isle of Man government actively supports the eGaming sector, the GSC has a legacy as an approachable and friendly regulator, whilst Digital Isle of Man frequently attends and hosts eGaming events and meets with prospective businesses to represent the Island as a global tech centre. As such, businesses are supported and encouraged at all levels.

Local Expertise

The Island’s local high-tech sectors, including eGaming, data hosting, blockchain, and AI initiatives, have created a highly skilled workforce that enables and incentivises well-established names such as Microgaming, Games Global, and Arrise (Pragmatic Play) to build local, boots-on-the-ground operations in the Isle of Man.

For start-up operations, the Isle of Man has a wide range of trusted service partners with decades of industry experience to support and advise future leaders. However, as operations grow, the Island makes a strong case for local offices and a headquarters. The Islands’ talent pool of industry-leading compliance and operations professionals enables suppliers to expand existing operations and build substance whilst maintaining the tax, infrastructure, and trusted relationships they have established.

Conclusion

For eGaming software companies, the Isle of Man presents a highly attractive and unique proposition. Companies can not only reduce costs but also enhance their reputation, expand into international markets, and operate within a stable and forward-thinking ecosystem.

By choosing the Isle of Man, suppliers gain immediate tax incentives and credibility, but also future-proof their investment. Clear and realistic opportunities to obtain local and international licences, access a wide network of partners, and establish local offices mean that the Isle of Man is not just a tax-efficient structure but also a commitment to building a reputable brand as a future industry leader.

The post The Isle of Man: Where eGaming Software Businesses Are Thriving appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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