Allied Market Research – European Gaming Industry News

0
Reading time: 3 minutes

According to the report published by Allied Market Research, the global lottery market generated $300.6 billion in 2021 and is expected to reach $430.4 billion by 2031, growing at a CAGR of 3.8%. from 2022 to 2031. The report offers a detailed analysis of key winning strategies, changing market trends, market size and estimates, value chain, key investment pockets, drivers and opportunities, competitive landscape and regional landscape. The report is a useful source of information for new entrants, shareholders, early adopters and stockholders in introducing necessary strategies for the future and taking essential actions to significantly strengthen and increase their position in the market.

Report coverage and details:

Report cover

Details

Forecast period

2022–2031

base year

2021

Market size in 2021

$300.6 billion

Market size in 2031

$430.4 billion

CAGR

3.8%

Number of pages in the report

283

Segments Covered

Type, application and region.

Drivers

Increasing access to the Internet worldwide, coupled with the growing use of digital devices such as laptops, smartphones and tablets.

Opportunities

Acceptance of new technologies such as blockchain and data analysis.

Constraints

Strict lottery laws with many countries banning lotteries.

Strict enforcement of online gambling regulations.

COVID-19 scenario:

  • The outbreak of the COVID-19 pandemic has had a negative impact on the growth of the global lottery market, due to the slowdown in online lottery business due to the lockdown.
  • However, during the COVID-19 pandemic, people started saving more money. This decimated the expansion of the global market.
  • Decline in lottery sales due to strict social distancing standards laws implemented by the government along with shutdown of non-essential businesses has hampered the growth of the global industry.
  • A myriad of types of lottery frauds and cyber crimes have been committed during the pandemic, thus hampering the growth of the global market during the COVID-19 pandemic.

The report offers detailed segmentation of the global lottery market based on type, application, and region. The report provides a comprehensive analysis of each segment and their respective sub-segment using graphical and tabular representation. This analysis can essentially help market players, investors and new entrants to determine and design strategies based on the fastest growing and highest revenue generating segments mentioned in the report.

Based on type, the lotto segment held the major market share in 2021, holding almost a quarter of the global lottery market share, and is expected to maintain its leading status over the forecast period. However, the instant scratch games segment is expected to quote the fastest CAGR of 4.3% during the forecast period. The report also contains segments such as quiz type lottery, numbers game and other segments.

Based on the application, the offline lottery store segment held the largest market share in 2021, accounting for almost three-fifths of the global lottery market share, and is expected to maintain its leading status during of the forecast period. Nevertheless, the online store segment is expected to quote the highest CAGR of 5.6% during the forecast period.

Regionally, the North American region held the major market share in 2021, grabbing more than a third of the global lottery market share and is expected to maintain its leading status during the period of forecast. However, the Asia-Pacific region is expected to quote the fastest CAGR of 4.5% during the forecast period. The report also analyzes other regions such as Europe and LAMEA.

The major players analyzed in the global lottery market report are INTRALOT, MDJS, Camelot Group, Florida Lottery, Francaise des Jeux, Mizuho Bank Ltd., Loterías y Apuestas del Estado, Hong Kong Jockey Club, Singapore Pools, and California Lottery .

The report analyzes these key players in the global lottery market. These market players have effectively used strategies such as joint ventures, collaborations, expansion, new product launches, partnerships, and others to maximize their foothold and prowess in the industry. The report is useful for analyzing recent developments, product portfolio, business performance, and operating segments of major market players.

Share.

About Author

Comments are closed.