Online Gambling Market size to grow by USD 150.5 billion from 2022 to 2027, APAC to account for 39% of the market growth - Technavio
NEW YORK, May 31, 2023 /PRNewswire/ -- The online gambling market size is set to grow by USD 150.5 billion between 2022 and 2027 and register a CAGR of over 11.03%, according to Technavio's latest market research report. With a focus on identifying dominant industry influencers, Technavio's reports present a detailed study by way of synthesis, and summation of data from multiple sources. This report offers an up-to-date analysis of the current market scenario, the latest trends and drivers, and the overall market environment.
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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. 888 Holdings Plc, Bet365 Group Ltd., BetOnline, Betsson AB, Camelot UK Lotteries Ltd., Entain Plc, Flutter Entertainment Plc, Fortuna Entertainment Group AS, Galaxy Entertainment Group Ltd., INTRALOT SA, Kindred Group Plc, LeoVegas AB, MGM Resorts International, New York State Gaming Commission, Scientific Games LLC, Sportech Plc, The Betway Group, The Stars Group Inc., William Hill Plc, and Winamax are some of the major market participants.
The growing demand for mobile gambling, the increasing betting on e-sports, and the reduced stringency in government regulations will offer immense growth opportunities, to leverage the current opportunities, market vendors must strengthen their foothold in the fast-growing segments, while maintaining their positions in the slow-growing segments.
Online Gambling Market 2023-2027: Segmentation
- Device
- Desktop: The market share growth by the desktop segment will be significant during the forecast period. The primary factor driving the segment growth is that desktop devices offer a better experience as they have bigger display screens compared with mobile devices.
- Mobile
- Product
- Lottery
- Betting
- Casino
- Geography
- North America
- APAC: APAC is estimated to contribute 39% to the growth of the global market during the forecast period. Another region offering significant growth opportunities to vendors in North America.
- Europe
- South America
- Middle East And Africa
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Online Gambling Market 2023-2027: Vendor Analysis and Scope
Some of the major vendors of the online gambling market in the Leisure Products industry include 888 Holdings Plc, Bet365 Group Ltd., BetOnline, Betsson AB, Camelot UK Lotteries Ltd., Entain Plc, Flutter Entertainment Plc, Fortuna Entertainment Group AS, Galaxy Entertainment Group Ltd., INTRALOT SA, Kindred Group Plc, LeoVegas AB, MGM Resorts International, New York State Gaming Commission, Scientific Games LLC, Sportech Plc, The Betway Group, The Stars Group Inc., William Hill Plc, and Winamax.
To help businesses improve their market position, Technavio's report provides a detailed analysis of around 15+ vendors operating in the market. To leverage the current opportunities, market vendors must strengthen their foothold in the fast-growing segments, while maintaining their positions in the slow-growing segments. Backed with competitive intelligence and benchmarking, our research reports on the online gambling market are designed to provide entry support, customer profile & M&As as well as go-to-market strategy support.
The report also covers the following areas:
Market Drivers
- Growing demand for mobile gambling
- Increasing betting on e-sports
- Reduced stringency in government regulations
Market Trends
- Introduction of bitcoin gambling
- Use of AI in online gambling
- The emergence of VR as a cure for gambling addiction
Market Challenges
- Growing online data security issues
- High-risk factors
- Increased addiction among low-income groups
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Online Gambling Market 2023-2027: Key Highlights
- CAGR of the market during the forecast period 2023-2027
- Detailed information on factors that will assist online gambling market growth during the next five years
- Estimation of the online gambling market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the online gambling market
- Analysis of the market's competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of online gambling market vendors
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Online Gambling Market Scope |
|
Report Coverage |
Details |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 11.03% |
Market growth 2023-2027 |
$ 150.5 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
9.2 |
Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 39% |
Key countries |
US, Canada, China, UK, and Germany |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
888 Holdings Plc, Bet365 Group Ltd., BetOnline, Betsson AB, Camelot UK Lotteries Ltd., Entain Plc, Flutter Entertainment Plc, Fortuna Entertainment Group AS, Galaxy Entertainment Group Ltd., INTRALOT SA, Kindred Group Plc, LeoVegas AB, MGM Resorts International, New York State Gaming Commission, Scientific Games LLC, Sportech Plc, The Betway Group, The Stars Group Inc., William Hill Plc, and Winamax |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for 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. |
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SOURCE Technavio
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