USD 114.21 Bn growth expected in Online Gambling Market | Driven by growing demand for …

The market is driven by the growing demand for mobile gambling. The decline in the average selling price (ASP) of smartphones and advances in communication network infrastructure have significantly increased the demand and adoption of smartphones. This has created a major platform for online gambling as smartphones provide convenience and easy access to various online casino games and e-sports betting. Smartphones also support many online-payment solutions such as M-Pesa, Orange Money, and Airtel Money. Vendors are also responding quickly to changes in the industry and are implementing digital platforms to capitalize on the increasing adoption of smartphones. Many such developments are expected to fuel the growth of the global online gambling market during the forecast period.

As per Technavio, the introduction of bitcoin gambling will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.

Online Gambling Market: Introduction of Bitcoin gambling

The emergence of digital and decentralized currencies such as Bitcoins is providing a high level of anonymity for users. It is not regulated by the central banks of many countries. Also, it does not require the user to provide personal information while using Bitcoins while gambling. Moreover, Bitcoins provide several advantages over regular currency such as secure international transactions, easy deposits and withdrawals, lower fraud risks, quick payments, and zero transaction fees. Many such benefits are increasing the use of Bitcoins in the gambling industry. This trend is expected to have a positive impact on the growth of the global online gambling market during the forecast period.

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Online Gambling Market: Segmentation Analysis

This market research report segments the online gambling market by type (lottery, betting, and casino), device (desktop and mobile), and geography (APAC, Europe, MEA, North America, and South America).

The North American region led the online gambling market in 2020, followed by APAC, Europe, South America, and MEA respectively. However, during the forecast period, the online gambling market in APAC is expected to register rapid growth. The increasing number of new casinos and lottery events in APAC will be driving the growth of the regional market.

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Some of the key topics covered in the report include:

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

Vendors covered
Vendor classification
Market positioning of vendors
Competitive scenario

Related Reports:

Online Lottery Market in China by Product and Device – Forecast and Analysis 2022-2026

VR Gambling Market by Type and Geography – Forecast and Analysis 2021-2025

Online Gambling Market Scope

Report Coverage

Details

Page number

120

Base year

2019

Forecast period

2020-2024

Growth momentum & CAGR

Decelerate at a CAGR of 11%

Market growth 2020-2024

USD 114.21 billion

Market structure

Concentrated

YoY growth (%)

12.04

Regional analysis

APAC, Europe, MEA, North America, and South America

Performing market contribution

APAC at 36%

Key consumer countries

China

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

888 Holdings Plc, bet365 Group, Betsson Ab, Camelot UK Lotteries Ltd., Flutter Entertainment Plc, GVC Holdings Plc, Galaxy Entertainment Group Ltd., INTRALOT SA, MGM Resorts International, and William Hill Plc

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Contents:

Executive Summary

Market Landscape

Market ecosystem
Value chain analysis

Market Sizing

Market definition
Market segment analysis
Market size 2020
Market outlook: Forecast for 2020 – 2025

Five Forces Analysis

Bargaining power of buyers
Bargaining power of suppliers
Threat of new entrants
Threat of substitutes
Threat of rivalry
Market condition

Market Segmentation by Type

Market segments
Comparison by Type
Casino – Market size and forecast 2020-2025
Betting – Market size and forecast 2020-2025
Lottery – Market size and forecast 2020-2025
Market opportunity by Type

Customer landscape

Geographic Landscape

Geographic segmentation
Geographic comparison
North America – Market size and forecast 2020-2025
Europe – Market size and forecast 2020-2025
APAC – Market size and forecast 2020-2025
MEA – Market size and forecast 2020-2025
South America – Market size and forecast 2020-2025
Key leading countries
Market opportunity by geography
Market drivers
Market challenges
Market trends

Vendor Landscape

Overview
Landscape disruption

Vendor Analysis

Vendors covered
Market positioning of vendors
888 Holdings Plc
Caesars Entertainment Corp.
DraftKings Inc.
Evolution Gaming Group
Golden Nugget
GVC Holdings Plc
Kindred Group Plc
Mr Green
SlotsMillion
William Hill Plc

Appendix

Scope of the report
Currency conversion rates for US$
Research methodology
List of abbreviations

About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
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Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

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