Connect with us
MARE BALTICUM Gaming & TECH Summit 2024

Latest News

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

Published

on

Reading Time: 3 minutes

 

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.

Advertisement

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

Advertisement

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.

Advertisement
Continue Reading
Advertisement

Latest News

New focus for safer gambling as Clarion confirms launch of Sustainable Gambling Zone

Published

on

new-focus-for-safer-gambling-as-clarion-confirms-launch-of-sustainable-gambling-zone
Reading Time: 2 minutes

 

The Consumer Protection Zone (CPZ), which since its launch at ICE 2018 has developed to become the highest profile feature on the ICE show floor has been re-branded to become the Sustainable Gambling Zone (SGZ). 

The strategic decision has been taken following extensive stakeholder consultation and is set against the heightened importance placed on proactive customer interventions at earlier stages of the player journey.

The SGZ will be debuted at July’s iGB L!VE prior to its official launch at ICE 2025, the first edition of the industry’s most influential b2b gaming show to be held at its new home in Barcelona

Advertisement

Clarion Gaming’s Director of Industry Insight and Engagement, Ewa Bakun, who has seen the CPZ develop to become the key platform for the industry to advance its understanding and implementation of safer gambling measures and raise standards said: “I must stress that this is much more than just a cosmetic exercise. Instead, the Sustainable Gambling Zone, with its refreshed focus, will engage with the broader stakeholder group of operators who are focused on long-term sustainability, something which goes way beyond simply meeting the regulatory mandate.

“The overarching objective of the Sustainable Gambling Zone is to be at the vanguard of initiatives to help develop healthy play from the outset which includes the incorporation of safer gambling considerations from the very start rather than as a compliance requirement.

“While not yet standard across the whole of the industry, this more holistic approach underpins the safer gambling dynamic. Its goal is to create a more sustainable business in which players continue to enjoy their gambling entertainment experience with the small proportion who are at risk of developing problems pro-actively identified and assisted by operators.”

Clarion Gaming Managing Director, Stuart Hunter added: “The relocation to Barcelona will enable us to expand the ICE and iGB Affiliate offerings but also raise the bar in terms of what we already deliver on behalf of the international industry.

“The intended broader appeal of the Sustainable Gambling Zone dovetails with our relocation and will bring the SGZ closer geographically to continental Europe and closer culturally to the Latin American markets that we serve.

Advertisement

“Barcelona will open a new chapter for ICE/iGB Affiliate and their respective features, not least the Sustainable Gambling Zone.”

The post New focus for safer gambling as Clarion confirms launch of Sustainable Gambling Zone appeared first on European Gaming Industry News.

Continue Reading

Latest News

INSPIRED LAUNCHES SOLID GOLD™: THE LATEST GEM IN THE FORTUNE COMMUNITY™ LINEUP!

Published

on

inspired-launches-solid-gold:-the-latest-gem-in-the-fortune-community-lineup!
Reading Time: 2 minutes

 

Inspired Entertainment, Inc., a leading B2B provider of gaming content, systems, and solutions, is delighted to launch Solid Gold™ to the Cat C market, the latest addition to our Fortune Community™ slot lineup. Fortune Community offers a multiplayer gaming experience tailored for the Category C and bingo markets. Fortune Community games can activate a community bonus during play, ensuring all eligible players can share in the rewards.

Prepare to embark on a nostalgic journey with Solid Gold™, a classic retro slot that seamlessly blends vintage charm with exhilarating thrills.

In Solid Gold, a Gold Bar character hovering above the reels brings players closer to victory. When these characters grace each of the three reels, they unlock one of three bonuses. During the Wild Pick bonus, players take charge and choose one of three reels to turn Wild – or two if they’re lucky. Once a reel is selected, a stack of Wilds fills the entire reel, whilst the Wild symbol substitutes for all other symbols to enhance or create wins.

Advertisement

Players fortunate enough to trigger the Wild Pick bonus will have the opportunity to win a bonus spin. During this feature, the Wild reels will lock in position while the remaining reels spin again, providing players with an additional opportunity to win.

The Solid Gold community bonus steals the spotlight, played on alternative reels and offering 6 enticing prizes up for grabs. The reels will continue to spin until either a £100 jackpot prize is awarded, or a losing combination appears. Solid Gold not only offers players the opportunity to relive the golden era of slots but also engages them in a community bonus.

Richard Terry, UK Market Product Director, said: ” Solid Gold is the latest in a series of fantastic Fortune Community Cat C titles from Inspired, and once again sees the return of a much-loved classic game brand from yesteryear, likely to engage both new players with its absorbing presentation and experienced players with fond memories of the original product”

The post INSPIRED LAUNCHES SOLID GOLD™: THE LATEST GEM IN THE FORTUNE COMMUNITY™ LINEUP! appeared first on European Gaming Industry News.

Advertisement
Continue Reading

eSports

ESIC Announces Establishment of Global Esports Industry Advisory Board

Published

on

esic-announces-establishment-of-global-esports-industry-advisory-board
Reading Time: 2 minutes

 

The Esports Integrity Commission (ESIC) is pleased to announce the establishment of its Global Esports Industry Advisory Board, designed to enhance integrity and ethical practices across the esports landscape. The Advisory Board will serve a pivotal role by providing expert advice to ESIC’s Chief Executive Officer on a range of critical industry issues. 

The primary function of the Advisory Board is to create a robust framework for integrity and fairness, setting a global benchmark for ethical conduct and fair competition in esports. The board will offer strategic insights, help shape policies governing fair play, liaise with key industry stakeholders, and act as ambassadors advocating for ethical practices. 

ESIC has appointed two highly esteemed members to inaugurate this board: 

Advertisement
  • David Neichel, Senior Vice President of Public & International Affairs at ESL FACEIT Group (EFG), joins the Advisory Board with over fifteen years of experience in the video games industry, including significant roles at Activision-Blizzard and Electronic Arts. David’s profound impact on international and public affairs initiatives makes him an invaluable addition to the board. 
  • Robbie Douek, CEO of BLAST, also joins the Advisory Board, bringing a wealth of experience from his roles at Google and Disney, along with his leadership through major acquisitions. Robbie is celebrated for his strategic leadership and his instrumental role in elevating esports to a significant global entertainment platform. 

The formation of the Advisory Board is an engagement that underscores the commitment of its members to upholding and promoting the highest standards of integrity within the esports industry. The board will meet as required to address strategic challenges and ensure that ESIC’s initiatives effectively meet current and future industry needs. 

“Both David and Robbie bring a remarkable depth of knowledge and a passion for advancing the integrity of esports,” said Stephen Hanna, CEO of ESIC. “Their expertise will be crucial as we navigate the evolving landscape of esports and strive to maintain the integrity that our community expects and deserves.” 

Robbie Douek, CEO at BLAST, said: “I’m honoured to be given the opportunity to support the Global Esports Industry Advisory Board and ESIC in their ambition to create the best and fairest environment possible for players, teams and fans.” 

David Neichel, Senior Vice President of Public & International Affairs at ESL FACEIT Group (EFG) also commented: “It is a true honour to join the Global Esports Industry Advisory Board and support ESIC’s successful journey. Fairplay and integrity are at the core of esports. We owe it to the players and to the fans and for a better endemic industry governance” 

The post ESIC Announces Establishment of Global Esports Industry Advisory Board appeared first on European Gaming Industry News.

Advertisement
Continue Reading

Trending