Global Gambling Market 2019
LONDON--(BUSINESS WIRE)--The gambling market size is expected to post a CAGR of close to 5% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
- Global Gambling Market 2019 Schedule
- Global Gambling Market 2019 Predictions
- Global Gambling Market 2019 Results
- Global Gambling Market 2019 Calendar
- Online Global Gambling Market Value 2019
New Report On Global Online Gambling and Betting Market Report 2019 added to Orbisresearch.com store which has 118 pages and available for purchase at US $ 2350. The global gambling market is segmented on the basis of type, application, and geography. The global Gambling market was valued at US$ XX.X Mn in 2018 and is projected to increase significantly at a CAGR of x.x% from 2019 to 2028. Gambling Market Scope: By type, the market is segmented into Lottery, Betting, Casino, and Other. The global online gambling market grew at a CAGR of around 12% during 2014-2019. Online gambling, or virtual gambling, refers to betting on casino or sports-based activities over the internet. The global amusements market, of which the gambling market is a segment, reached a value of nearly $511.3 billion in 2018, having grown at a CAGR of 4.5% since 2014.
The high penetration of smartphones is one of the major reasons for market growth. The number of smartphone users is expected to cross 3.6 billion by 2023. This increase in smartphone penetration is attributed to the declining average selling price (ASP) of smartphones and developments in communication network infrastructure. Moreover, users are rapidly shifting from desktop to mobile devices for playing casino games. Smartphones are becoming one of the major platforms for online gambling as they provide ease of access to casino games and e-sports betting.
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As per Technavio, the use of AI in online 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 important trends and market drivers that will affect market growth over 2019-2023.
Gambling Market: Use of AI in Online Gambling
Enterprises across various industries are implementing AI solutions to improve their business processes. Gambling operators are also incorporating AI technology into their online gambling websites to improve user experience. Land-based casino operators are using AI to analyze the risk appetite behavior of the users, find the most lucrative player, and predict the winners and losers during casino games. This helps in making the decision to provide incentives and freebies to users. Thus, the increasing use of AI is expected to drive market growth during the forecast period.
“Apart from the use of AI in online gambling, other factors such as the use of bitcoins in gambling, and the growing number of mergers and acquisitions will have a positive impact on the gambling market growth during the forecast period,” says a senior analyst at Technavio.
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Gambling Market: Segmentation Analysis
This market research report segments thegambling marketby platform (offline gambling, and online gambling), type (lottery, betting, and casino), and geography (APAC, EMEA, North America, and South America).
The North American region led the market in 2018, followed by APAC, EMEA, and South America respectively. The growth of the gambling market share in North America can be attributed to factors such as the increasing demand for offline and online gambling games, rise in the number of mobile application platforms, and the increase in casinos, sports betting, online lottery, and online horse betting.
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Some of the key topics covered in the report include:
Global Gambling Market 2019 Schedule
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
Global Gambling Market 2019 Predictions
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Global Gambling Market 2019 Results
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
About Technavio
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 10,000 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.
Global Gambling Market 2019 Calendar
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Online Global Gambling Market Value 2019
Dublin, June 20, 2019 (GLOBE NEWSWIRE) -- The 'Gambling: Global Market Opportunities & Strategies to 2022' report has been added to ResearchAndMarkets.com's offering.
This report describes and evaluates the global gambling market. It covers two five-year periods, 2014 to 2018, termed the historic period, and 2018 through 2022, the forecast period.
The global gambling market size reached a value of nearly $449.3 billion in 2018, having grown at a compound annual growth rate (CAGR) of 4.1% since 2014, and is expected to grow at a CAGR of 5.9% to nearly $565.4 billion by 2022.
Growth in the historic period resulted from the growth in the experience economy, favorable visa policies and initiatives, emerging markets growth, rapid urbanization, the rise in mobile gambling, and the increase in the number of female gamblers. Factors that negatively affected growth in the historic period were high tax rates on casinos, and unpredictable weather conditions. Going forward, the legalization of gambling, global economic growth, increasing use of social media, and changing consumer gambling habits will drive growth. Factors that could hinder the growth of this market in the future include stringent government regulations on gambling, and demographic changes.
The gambling market is segmented by type into casino, lotteries, sports betting, and others. The lotteries segment was the largest segment of the gambling market in 2018 at 46.1% or $207.3 billion. The sports betting segment is expected to be the fastest-growing segment going forward at a CAGR of 6.9%.
The casino market is further segmented by sales channel into offline, online, and virtual reality (VR). Offline gambling was the largest segment of the casino market by sales channel in 2018 at 94.3%. The VR gambling segment is expected to be the fastest-growing segment going forward at a CAGR of 21.7%.
The sports betting market is further segmented by sales channel into offline, online, and VR. Offline gambling was the largest segment of the sports betting market by sales channel in 2018 at 65.7%. The VR gambling segment is expected to be the fastest-growing segment going forward at a CAGR of 14.3%.
The lotteries market is further segmented by sales channel into offline, online, and VR. Offline gambling was the largest segment of the lotteries market by sales channel in 2018 at 96.2%. The VR gambling segment is expected to be the fastest-growing segment going forward at a CAGR of 14.9%.
The other gambling market is further segmented by sales channel into offline, online, and VR. Offline gambling was the largest segment of the other gambling market by sales channel in 2018 at 94.4%. The VR gambling segment is expected to be the fastest-growing segment going forward at a CAGR of 15.6%.
Asia-Pacific was the largest market for gambling, accounting for 32.7% of the global market in 2018. It was followed by North America, Western Europe and then the other regions. Going forward, Asia-Pacific and Africa will be the fastest growing regions in the gambling market, where growth will be at CAGRs of 7.9% and 7.7% respectively. These will be followed by South America and Eastern Europe where the markets are expected to grow at CAGRs of 6.13% and 6.12% respectively.
The gambling market is relatively fragmented with a large number of small entities with minor shares. Players in the market include China Sports Lottery, China Welfare Lottery, Sociedad Estatal Loteras y Apuestas del Estado S.A., Las Vegas Sands Corporation, Japan Takarakuji lottery, and Galaxy Entertainment Group Limited.
The global amusements market, of which the gambling market is a segment, reached a value of nearly $511.3 billion in 2018, having grown at a CAGR of 4.5% since 2014. It will expected to grow at a CAGR of 6.3% to nearly $652.6 billion by 2022. The gambling market was the largest segment of the amusements market accounting for 87.9% of the total in 2018. The amusement park segment is expected to be the fastest growing segment in the amusements market, growing at a CAGR of 8.9% during 2018-2022.
The top opportunities in the global gambling market will arise in the offline lotteries segment, which will gain $48.1 billion of global annual sales by 2022. The gambling market size will gain the most in China at $23 billion. Market-trend-based strategies for the gambling market include adoption of advanced security measures for online gambling, investments in mobile gambling, investments in branded slot games and gambling apps for smart watches, and the use of large-format slot machines and big data analytics. Player-adopted strategies in the gambling industry include introducing new lottery products, providing easy mode of payments, and expanding into emerging countries.
To take advantage of these opportunities, the author recommends the gambling companies to focus on skill-based games and hybrid games, invest on mobile apps, focus on retirees and senior citizens demographic, and focus on affiliate marketing, among other strategies.
Companies Mentioned
- China Sports Lottery
- China Welfare Lottery
- Japan Takarakuji lottery
- Las Vegas Sands Corporation
- Sociedad Estatal Loteras y Apuestas del Estado S.A.
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