DUBLIN–(BUSINESS WIRE)–The “Online Lottery Market: Global Industry Trends, Share, Size, Growth, Opportunities and Forecast 2022-2027” report has been added to from ResearchAndMarkets.com offer.
The global online lottery market reached a value of US$9.61 billion in 2021. Looking ahead, the publisher expects the market to reach a value of US$14.35 billion by 2027, posting a CAGR of 6.91% in 2021-2027.
International Game Technology PLC
Lotto Direct Limited
Play UK Internet NV
ZEAL SE network.
Keeping in mind the uncertainties of COVID-19, we continuously monitor and assess the direct and indirect influence of the pandemic on different end-use sectors. This information is included in the report as a major market contributor.
Online lottery refers to a gambling system that involves acquiring money by selling numbered tickets and randomly drawing numbers to offer prizes to holders of selected numbers. These games are linked to a central computer, which is also connected to a telecommunications network.
Online lottery apps can be downloaded on desktop and smartphones or can be played through a website. The sessions are facilitated by computer programs, thus eliminating any form of physical contact and interaction. Apart from this, online lottery solutions offer multiple benefits such as real-time experience, convenience, secure payments, easy accessibility, cashless transactions and safe environment.
Growing availability of high-speed internet connectivity and inflation in smartphone sales across the globe represent some of the key factors creating a positive outlook for the market. Consumers are widely adopting online lottery methods due to their improved accessibility on mobile phones and personal computers (PCs), the provision of digital and mobile payments for online gamblers, and improved betting processes , safety and reliability.
Additionally, the shifting inclination of users of traditional online lottery draw-based games due to higher return on lower investments is driving the growth of the market. Apart from this, various technological advancements such as the integration of Virtual and Augmented Reality (VR/AR) as well as the introduction of connected wearable devices to deliver an immersive gaming experience while ensuring transparency are greatly boosting market growth. .
Additionally, the growing use of online payment channels that provide encryption security to protect data related to online transactions is positively impacting the growth of the market. Other factors, including various promotional activities on social media, increasing consumer spending capabilities, and the implementation of various government initiatives promoting safe practices and the legalization of online lottery services, are expected to further push the market to growth.
Answers to key questions in this report:
How has the global online lottery market behaved so far and how will it behave in the years to come?
What has been the impact of COVID-19 on the global online lottery market?
What are the main regional markets?
What is the market breakdown by product type?
What is the breakout of the market based on the platform?
What are the different stages of the industry value chain?
What are the key drivers and challenges in the industry?
What is the structure of the global online lottery market and who are the key players?
How competitive is the industry?
Main topics covered:
2 Scope and methodology
3 Executive summary
4.2 Key Industry Trends
5 Global Online Lottery Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakdown by Product Type
7 Market Breakdown by Platform
8 Market Breakdown by Region
9 SWOT Analysis
10 Value chain analysis
11 Analysis of the five forces of carriers
12 Price Analysis
13 Competitive landscape
13.1 Market structure
13.2 Key Players
13.3 Profiles of Key Players
For more information on this report, visit https://www.researchandmarkets.com/r/q1mz6v