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Global Virtual Reality In Gaming Market Is Poised To Value Over US$ 38,331.5 Million by 2027 End
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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Alberto Menolascina SVP of UK and New Business at Gopuff
Allwyn–Gopuff Collaboration Brings The National Lottery Straight to Your Door
Allwyn’s Retail Revenue & Customer Director, Alison Acquaye-Acford, said: “We’re always looking at ways to respond to the ever-evolving retail environment and the changing ways people are buying grocery products – with ease and convenience being key factors. And through this new partnership with Gopuff, we’re doing just that.
“We’re making it even easier for existing National Lottery players to get the games they want to play quickly and safely. But we’re also looking to make the most of Gopuff’s presence in cities, reaching new customers who are already shopping through the platform. All of this is helping us continue to build on the £32m raised, on average, every week for Good Causes – which is what The National Lottery is all about.”
“At Gopuff, we’re constantly focused on improving the customer experience and bringing our consumers more of what they love in minutes,” added Alberto Menolascina, SVP of UK and New Business at Gopuff. “This new partnership with Allwyn enables us to do just that. Since launching the pilot program last month, our customers have shown an immediate interest in this new offering. This is instant commerce in action, giving customers what they want, when they want it, safely and conveniently.”
The post Allwyn–Gopuff Collaboration Brings The National Lottery Straight to Your Door appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
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MMDSmart Becomes Strategic Telecoms Partner for HIPTHER’s International Events Portfolio
- HIPTHER Prague Summit
- HIPTHER Baltics: Vilnius
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- HIPTHER Baltics: Tallinn
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This partnership reflects HIPTHER’s ongoing commitment to delivering people-first, experience-driven events, while working with trusted technology partners that provide real, tangible value to its international community.
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About HIPTHER:
HIPTHER is a boutique event organizer and media brand focused on gaming, technology, fintech, and regulatory ecosystems across Europe. Known for its Prague, Baltics, and Warsaw summits, HIPTHER delivers high-value conferences designed around expert insight, cross-industry dialogue, and meaningful networking.
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Since 2007, MMDSmart has been a leading supplier in cloud communications, delivering game-changing IT products to businesses in over 100 countries. Our success is fueled by the inspiration and innovative ideas of our team members, encouraging their growth and impacting our Messaging and Voice solutions.
The post MMDSmart Becomes Strategic Telecoms Partner for HIPTHER’s International Events Portfolio appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
1/ST CONTENT
North American racing pool betting arrives at UK tracks through Britbet and 1/ST CONTENT
1/ST CONTENT, the leading supplier of high-quality horse racing content from North and South America and an important segment of 1/ST, has revealed that its North American racing is now accessible for pool betting by UK bettors at racetracks throughout the UK, due to a significant partnership with Britbet.
Britbet serves as the on-course pool betting operator for its affiliated racecourses, delivering customer-focused pool betting services at 58 of the 59 tracks in the UK. Consequently, this agreement will provide additional pari-mutuel liquidity for 1/ST CONTENT’s extensive range of North American racetracks.
This agreement also utilizes 1/ST TECHNOLOGY’s extensive range of products and services, featuring the AmTote International brand, which is a global leader in pari-mutuel tote and ADW technologies.
Bet categories will encompass, but are not restricted to: Win, Show, Exacta, and Trifecta. These betting types can be easily aligned with well-known UK pool wagers. Additional betting options are anticipated to emerge, but the initial available types largely reflect the more favored on-course betting selections in the UK.
Britbet’s UK staff on-site, available in fixed retail roles or as roaming couriers in hospitality zones, are committed to enhancing the customer experience at racetracks. Incorporating US racing will support this initiative, providing greater content and interaction for customers.
The latest rollout introduces the top stateside races to UK racecourses – starting with this Saturday’s Pegasus World Cup, continuing with the spring’s Triple Crown events, the summer Travers Stakes at Saratoga, and concluding at the Breeders’ Cup World Championships in November. In a broader sense, 1/ST CONTENT’s vast content collection now encompasses almost 90% of all racetracks in North America, seamlessly aligning with the UK’s domestic program around 17:00 (approximately) each day, and especially relevant during winter and spring when evening racing events are significantly reduced in Britain.
Simon Fraser, SVP International 1/ST CONTENT, said: “Britbet already sells the product so effectively on-course, returning much-needed funding to the sport, and we were impressed with this racing-first model and tech-forward approach. Couple that with the enthusiasm of their customer-friendly staff to educate both seasoned and novice bettors about North American racing, and we’re confident we can build from this pools-betting keystone.
“1/ST CONTENT is always looking for new ways in which to improve the user experience and journey, for both the bettor and the operator – and we’re in the vanguard of such initiatives thanks to this transformative collaboration with Britbet. It’s no secret that international bettors want access to bigger and more diverse pools to bet into, not to mention reliable field sizes with the betting value and variety that comes from exotics. North American racing provides these new opportunities on a regular basis, and at a complementary time for more savvy British racecourse audiences who are looking for a relatable and quality product to bet on, as the domestic scene winds down each day.”
Nigel Roddis, Managing Director of Britbet, added: “This arrangement with 1/ST CONTENT allows us to make more use of the i-neda technology that drives our on-course betting terminals, delivering more content for on-course customers – even though time-zone differentials and the racing on-course will necessitate that a selective approach is taken to what will be offered. But it is part of our wider commitment at Britbet to grow pool betting across the UK, from our own on-course perspective and beyond. This collaboration builds on that, delivering new content for the customer and enhancing their on-course experience. Providing our customers with visibility of racing in other jurisdictions demonstrates the global nature of the sport, and we look forward to showcasing the key events at our partner racecourses.”
The post North American racing pool betting arrives at UK tracks through Britbet and 1/ST CONTENT appeared first on Americas iGaming & Sports Betting News.
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