Lottery Market in North America to grow by $ 25.6 Billion During 2020-2024 | High Penetration of Smartphones and Internet to Boost Growth | Technavio
LONDON--(BUSINESS WIRE)--Feb 4, 2021--
Technavio has been monitoring the lottery market in North America and it is poised to grow by USD 25.60 billion during 2020-2024, progressing at a CAGR of almost 5% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Technavio has announced its latest market research report titled Lottery Market in North America 2020-2024 (Graphic: Business Wire)
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 lottery market in North America. The market growth in 2020 has Decreased compared to the market growth in 2019.
Frequently Asked Questions:
- Based on segmentation by Type, which is the leading segment in the market?
Based on the type, the scratch-off games segment led the market in 2019.
- What are the major trends in the market?
The advent of government-organized gambling is the major trend in the market.
- At what rate is the market projected to grow?
The market is projected to grow at a CAGR of almost 5% during the forecast period.
- Who are the top players in the market?
Arizona Lottery, Connecticut Lottery Corp., Florida Lottery, INTERNATIONAL GAME TECHNOLOGY PLC, New York State Gaming Commission, Pennsylvania Lottery, Pollard Banknote Ltd., Scientific Games Corp., Texas Lottery Commission, and The California State Lottery 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 and the internet. However, the security and credibility issues related to the lottery will challenge growth.
Related Reports on Consumer Discretionary Include:
Lottery Market in the US - Lottery market in the US is segmented by type (scratch-off games, terminal-based games, and sports lotteries) and platform (traditional and online). Click Here to Get an Exclusive Free Sample Report
Global Online Gambling Market - Global online gambling market is segmented by type (lottery, betting, and casino), device (desktop and mobile), and geography (APAC, Europe, MEA, North America, and South America). Click Here to Get an Exclusive Free Sample Report
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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Arizona Lottery, Connecticut Lottery Corp., Florida Lottery, INTERNATIONAL GAME TECHNOLOGY PLC, New York State Gaming Commission, Pennsylvania Lottery, Pollard Banknote Ltd., Scientific Games Corp., Texas Lottery Commission, and The California State Lottery are some of the major market participants. Although the high penetration of smartphones and the internet will offer immense growth opportunities, the security and credibility issues related to the lottery are likely to pose a challenge for the market vendors. In a bid to help players strengthen their market foothold, this lottery market in North America 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.
Lottery Market in North America 2020-2024: Segmentation
Lottery Market in North America is segmented as below:
- Scratch-off Games
- Terminal-based Games
- Sports Lotteries
To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR44800
Lottery Market in North America 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 lottery market in North America report covers the following areas:
- Lottery Market in North America Size
- Lottery Market in North America Trends
- Lottery Market in North America Industry Analysis
This study identifies the advent of government-organized gambling as one of the prime reasons driving the Lottery Market in North America 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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Lottery Market in North America 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist the lottery market in North America growth during the next five years
- Estimation of the lottery market in North America size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the lottery market in North America
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of the lottery market vendors in North America
Table of Contents:
- Market ecosystem
- Market characteristics
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Five forces summary
- 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
- Scratch-off games - Market size and forecast 2019-2024
- Terminal-based games - Market size and forecast 2019-2024
- Sports lotteries - Market size and forecast 2019-2024
- Market opportunity by Type
Market Segmentation by Platform
- Market segments
- Comparison by Platform
- Traditional - Market size and forecast 2019-2024
- Online - Market size and forecast 2019-2024
- Market opportunity by Platform
- Geographic segmentation
- Geographic comparison
- US - Market size and forecast 2019-2024
- Canada - Market size and forecast 2019-2024
- Mexico - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
- Competitive scenario
- Vendor landscape
- Landscape disruption
- Industry risks
- Vendors covered
- Market positioning of vendors
- Arizona Lottery
- Connecticut Lottery Corp.
- Florida Lottery
- INTERNATIONAL GAME TECHNOLOGY PLC
- New York State Gaming Commission
- Pennsylvania Lottery
- Pollard Banknote Ltd.
- Scientific Games Corp.
- Texas Lottery Commission
- The California State Lottery
- 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.
View source version on businesswire.com:https://www.businesswire.com/news/home/20210204006177/en/
CONTACT: Technavio Research
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
KEYWORD: UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: CASINO/GAMING GENERAL ENTERTAINMENT ENTERTAINMENT
SOURCE: Technavio Research
Copyright Business Wire 2021.
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