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Market Data & Analysis
The recent global pandemic has expedited the growth of both the gaming and VR market. The ongoing lockdown measures with many traditional entertainment venues inaccessible, with ‘door-closed’ policies at cinemas and theaters, home entertainment has been the only option for gamers, with recent surveys indicating that video gamers in the United States spent over 45% more time playing video games during quarantine than prior.
The global augmented reality (AR), virtual reality (VR), and mixed reality (MR) market is forecast to reach 30.7 billion U.S. dollars in 2021, rising to close to 300 billion U.S. dollars by 2024.
With a projected CAGR of 9.17% between 2020 and 2025, Mordor Intelligence expects the global video games market to exceed $256 billion by 2025, with projected revenue of $1,274.4 billion in 2030.
The global marine and marine management software market size to grow from USD 1.7 billion in 2021 to USD 2.9 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 11.2% during the forecast period. Factors such as rising need to efficiently manage complex supply chain operations, increase sustainability across marine software industry, and increasing demand to reduce overall costs and enhance shipyard productivity are driving the adoption of the marine and marine management software market across the globe. The impact of technology on the yacht industry will grow in the coming years as companies increasingly implement web 3.0-based marin software and apps such as port and crew management in their businesses. From crewing and training to procurement and charter, marin management includes all support services that enable marinas to operate at sea. Companies are now opening up to the innumerable benefits offered by different technologies, and one such technology is web 3.0 . Web 3.0 technology makes operations, communications, and collaborations easier for workforces across the globe. The web 3.0-based solutions offer the latest versions, newest features, and rapid support across the globe. web 3.0-based marine software offers clients the ability to focus on their business, tackle any incoming issues immediately, automate the software version upgrades, and provide strict security measures.
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