Increase in the per-capita income, changing regulations, and interest of consumers for gambling is strengthening the growth and revenue of the market, with APAC leading the market share and reaching $268.67 billion by 2022
Infoholic Research LLP, a global market research and consulting organization, has published a study titled “Worldwide Gambling Market: Drivers, Opportunities, Trends, and Forecasts, 2016–2022” (June 2016).
According to Infoholic Research, the gambling market is highly affected by the illegal online websites and religious factors of some countries. The gambling industry is expanding all around the globe due to the government efforts to increase the tax earnings and attract a number of tourists. Many countries have already legalized or considering legalizing the gambling industry due to the economic benefits it offers to the country. The gambling market is mostly observed in developed countries where compliances are present and strict regulations are followed. The market is expected to grow at a CAGR of 5.7% during the period 2016–2022 to touch an aggregate of $635.00 billion by 2022.
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“Falling industry growth rate of UK/Europe is a big concern for online gambling market. European market should stand strong to face stiff competition in terms of rising marketing costs and increasing gaming taxes. More and more technology/platform providers are expected to launch in-house gambling websites for greater revenue ROIs and are eyeing B2C acquisitions for scaling their operations too.” – Tariq Ahmed. Shaik, Research Manager at Infoholic Research
Predicting the future of gambling is as perilous as predicting the future of any other industry or facet of life. With the incredible rate of technological innovation and advancement in the modern world, predicting what the gambling world will look like in 10–20 years is hard, and anything beyond that is almost entirely speculating. There are few things we expect to see in the near future. Mobile gambling will continue to become a bigger and more important part of the gambling landscape, as mobile devices become powerful enough to further replace desktop and laptop for many everyday functions. Everything will be available on the move, and that includes gambling.
Global digital market that is basically divided into online and social has a very positive growth in many terms.
Image: Revenue Growth of Digital Gambling Market. Note: Few readings are hidden; you can find the complete report at Infoholic Research.
The chart clearly indicates a surge of 6% (Y-o-Y) rise from $40.13 billion in 2015 to $48.15 in 2019 in the digital gambling market revenue, opening a good amount of opportunities for casinos to invest in online domain. It also brings relevance of software companies to plunge into making intuitive gambling applications.
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“Gambling market is one of its own kinds, depending on user expenditure and interest. However, illegal gambling is the biggest challenge faced by the industry, especially from the developing countries where gambling is not regularized. Also, countries such as Malaysia, Australia, and Singapore are expected to become another Las Vegas and Macau within 10 years.” – Preeti Wadhwani, Senior Research Analyst at Infoholic Research
The report is segmented by types, products, and regions. Lest see the global gambling market share w.r.t. product category.
Note: Few readings are hidden; you can find the complete report at Infoholic Research.
Betting perceives an increase of 0.2% from 14.1% in 2016 to 14.3% in 2022. Meanwhile Bingo and others might squeeze even further to 2.5% in 2022 from 2.6% in 2016. Such trends will give respected companies to optimize their strategies and diversify for best results in times to come.
If we analyze the market by regions, the major share of the revenue comes from Asia Pacific (42.2%), followed by North America (40.2%). If we analyze the market by types, the major share of the revenue comes from casino segment accounting for 35.4% in 2016 followed by lotteries, 28.3%.
The report provides an in-depth analysis and forecast about the industry covering the following key features:
- The report not only highlights users’ conundrum (challenges and barriers to adopt bare metal cloud) but also brings in their perspective on the market. This market has been analyzed by taking into account the key regions – North America, Europe, Asia Pacific, Latin America and the Middle East & Africa
- The analyst has rated top seven vendors Vis a Vis end user inputs on key factors. Also, the names of all the providers present in the market have been covered
- Competitive benchmarking analysis to optimize short term and long term strategy of the organizations
- Stakeholders’ insights and key trends (current and future) of the market
Scope of this Report:
The report covers the present scenario and growth prospects of the gambling market during the period 2016–2022. Moreover, to calculate the market size, the report considers the revenue generated from the sales of
- Others: it consists of bingo and other games
The report covers the evolution of gambling, trends, drivers, restraints, and opportunities affecting the market growth over the next forecast years.
The report covers the adoption and usage of gambling in different regions. The regions include North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America. The report also compares top seven players in the market with their technology capability and geographical reach.
About Infoholic Research
Infoholic Research is a global market research and consulting organization providing strategic and high-level market intelligence in emerging and niche technologies. Founded in 2014, we are headquartered in India with an office in the US and with consultants working across the globe. Our market analysis powered by rigorous methodology and quality metrics provides information and forecast across all the emerging markets, technologies and business models. We aim at delivering high-quality results to our clients providing them with in-depth industry insights to identify new business opportunities and nurture their business strategies. For more information, please visit www.infoholicresearch.com
Ms. Sunanda Ganguli
Infoholic Research LLP