Gambling Market Value to Increase Over $231 Billion During 2020-2024 | Technavio
LONDON--(BUSINESS WIRE)--Nov 12, 2020--
Technavio has been monitoring the gambling market and it is poised to grow by USD 231.63 billion during 2020-2024, progressing at a CAGR of over 5% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. According to the report, the spread of the COVID-19 pandemic has negatively impacted the growth of the market. However, factors such as declining prices of smartphones and the developments in communication networks infrastructure have increased the popularity of online gambling. This is expected to increase the number of online gambling users, thereby foster market growth.
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Technavio has announced its latest market research report titled Gambling Market 2020-2024 (Graphic: Business Wire)
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Impact of COVID-19
The COVID-19 pandemic continues to transform the growth of various industries, however, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have a low impact on the gambling market. The market growth in 2020 is likely to increase compared to the market growth in 2019.
Frequently Asked Questions:
- Based on segmentation by Type, which is the leading segment in the market?
The lottery segment led the market in 2019.
- What are the major trends in the market?
Use of AI in online gambling.
- At what rate is the market projected to grow?
The market is projected to grow at a CAGR of over 5% during 2020-2024.
- Who are the top players in the market?
888 Holdings Plc, bet365 Group, Caesars Entertainment Corp., Camelot UK Lotteries Ltd., Flutter Entertainment Plc, Galaxy Entertainment Group Ltd., INTRALOT SA, Las Vegas Sands Corp., MGM Resorts International, and William Hill Plc are the top players in the market.
- What are the key market drivers and challenges?
The market is driven by the high penetration of smartphones. However, the ban on gambling advertisements might hamper growth.
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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. 888 Holdings Plc, bet365 Group, Caesars Entertainment Corp., Camelot UK Lotteries Ltd., Flutter Entertainment Plc, Galaxy Entertainment Group Ltd., INTRALOT SA, Las Vegas Sands Corp., MGM Resorts International, and William Hill Plc are some of the major market participants. Although the high penetration of smartphones will offer immense growth opportunities, the ban on gambling advertisements is likely to pose a challenge for the market vendors. In a bid to help players strengthen their market foothold, this gambling market forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies.
Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.
Gambling Market 2020-2024: Segmentation
The Gambling Market is segmented as below:
- Geographic Landscape
- North America
- South America
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Gambling Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The gambling market report covers the following areas:
- Gambling Market Size
- Gambling Market Trends
- Gambling Market Industry Analysis
This study identifies the use of AI in online gambling as one of the prime reasons driving the Gambling Market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Gambling Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist gambling market growth during the next five years
- Estimation of the gambling market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the gambling market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of gambling market vendors
Table of Contents:
- Market Overview
- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
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 placement
- Lottery - Market size and forecast 2019-2024
- Betting - Market size and forecast 2019-2024
- Casino - Market size and forecast 2019-2024
- Market opportunity by Type
Market Segmentation by Platform
- Market segments
- Comparison by Platform placement
- Offline - Market size and forecast 2019-2024
- Online - Market size and forecast 2019-2024
- Market opportunity by Platform
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2019-2024
- APAC - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
Drivers, Challenges, and Trends
- Market drivers
- Volume driver - Demand led growth
- Volume driver - Supply led growth
- Volume driver - External factors
- Volume driver - Demand shift in adjacent markets
- Price driver - Inflation
- Price driver - Shift from lower to higher-priced units
- Market challenges
- Market trends
- Vendor landscape
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- 888 Holdings Plc
- bet365 Group
- Caesars Entertainment Corp.
- Camelot UK Lotteries Ltd.
- Flutter Entertainment Plc
- Galaxy Entertainment Group Ltd.
- INTRALOT SA
- Las Vegas Sands Corp.
- MGM Resorts International
- William Hill Plc
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
Technavio is a leading global technology research and advisory company. Their research and analysis focuses 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.
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INDUSTRY KEYWORD: CASINO/GAMING ENTERTAINMENT
SOURCE: Technavio Research
Copyright Business Wire 2020.
PUB: 11/12/2020 07:50 AM/DISC: 11/12/2020 07:50 AM