Global Lottery Market 2020-2024| Adoption of Social Media Marketing for Promotion of Lottery to Boost Market Growth | Technavio
LONDON--(BUSINESS WIRE)--Feb 13, 2020--
The global lottery market is expected to grow by USD 220.52 billion during 2020-2024 according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled global lottery market 2020-2024 (Graphic: Business Wire)
The growing penetration of smartphones and Internet connectivity is promoting the use of social media platforms such as Twitter, Instagram, and Facebook among consumers. This is encouraging vendors of the lottery market to use these platforms to promote lotteries. Lottery companies are attempting to create awareness and draw customer interest in the lottery through floating advertisements with offers and schemes, stories of lottery winners, and benefits of lottery on social media channels. This is increasing the number of participants in lotteries. Thus the adoption of social media marketing for promoting lottery will boost the growth of the lottery market during the forecast period.
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As per Technavio, the growing use of lottery money for various causes 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.
Global Lottery Market: Growing use of lottery money for various causes
One of the significant changes that has taken place in the gambling market is the advent of government-organized gambling in the form of state and national lottery. The introduction of various fair gambling campaigns and legalization of different forms of gambling is enabling governments to earn a huge revenue from running the lottery. Lottery has become a popular means of raising government income during budget deficits. Governments often use the revenue generated from lotteries to build public facilities such as educational institutions. The revenue is also invested in research and developmental activities and in the construction of social amenities such as parks, pools, and trails. In addition, the revenue generated is also used to support organizations and trusts that are dedicated to the preservation of wildlife. Thus, the growing use of lottery money for such beneficial causes is expected to showcase a positive outlook during the forecast period.
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Global Lottery Market: Segmentation Analysis
This market research report segments the global lottery market by Type (Terminal-based games, Scratch-off games and Sports lotteries), and Geographic segmentation (APAC, Europe, MEA, North America and South America).
The APAC region led the lottery in 2019, followed by Europe, North America, MEA and South America. During the forecast period, the APAC region is expected to register the highest incremental growth due to factors such as the increasing disposable income, relaxation of government regulations, and improvements in infrastructure such as improved telecommunication network.
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Some of the key topics covered in the report include:
- Terminal-based games
- Scratch-off games
- Sports lotteries
- North America
- South America
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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INDUSTRY KEYWORD: CASINO/GAMING ENTERTAINMENT
SOURCE: Technavio Research
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PUB: 02/13/2020 06:00 PM/DISC: 02/13/2020 06:01 PM