NEW YORK, Aug. 9, 2022 /PRNewswire/ -- The Y-O-Y Growth rate of 2022 for the ONLINE GAMBLING MARKET is estimated at 11.82%. 37% of the market's growth will originate from APAC during the forecast period. The online gambling industry has grown exponentially since the inception of the first online casino. It has evolved from an early adopter to a multi-billion-dollar market globally due to the introduction of new technologies, such as VR, and the penetration of the internet, providing a wide range of access to online gambling activities to consumers. Additionally, the advent of mobiles and the demand for mobile gaming are expanding the market reach and have generated new revenue streams for vendors. Also, various governments have eased their regulations on gambling, which has created new opportunities for vendors. Furthermore, advancements in technology have been one of the main drivers in the online gambling sector, including Internet accessibility, increasing availability of mobile devices, and live gaming. Advanced technology, such as the use of chatbots, machine learning, and artificial intelligence, are all improving the online gambling service and experience.
Browse summary of the 149 page ONLINE GAMBLING MARKET report for competitive benchmarking insights
Online Gambling Market Scope
Growth momentum & CAGR
Decelerate at a CAGR of 11.05%
Market growth 2022-2026
$ 142.38 billion
YoY growth (%)
North America, APAC, Europe, South America, and Middle East and Africa
Performing market contribution
APAC at 37%
Key consumer countries
US, Canada, China, UK, and Germany
Leading companies, competitive strategies, consumer engagement scope
888 Holdings Plc, Bet365 Group Ltd., BetOnline, Betsson AB, Camelot UK Lotteries Ltd., Entain Plc, Flutter Entertainment Plc, Fortuna Entertainment Group a.s., Galaxy Entertainment Group Ltd., INTRALOT SA, Kindred Group Plc, LeoVegas AB, MGM Resorts International, New York State Gaming Commission, Scientific Games Corp., Sportech Plc, The Betway Group, The Stars Group Inc., William Hill Plc, and Winamax
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, and market condition analysis for the forecast period.
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Browse for Technavio "CONSUMER DISCRETIONARY MARKET" Research Reports
COVID Impact and Recovery Analysis
The outbreak of COVID-19 had a strong influence on the online gambling market in North America. Due to the outbreak in 2020, traditional casinos and gambling places such as taverns, breweries, horse racing, bingo halls, and lottery stores were closed, to prevent the spread of the virus. As a result, the vendors were compelled to conduct businesses through online platforms. Therefore, the online gambling market in this region experienced a rise in growth due to the adoption of online platforms during this period.
Online Gambling Market: Key Driver
One of the key factors driving growth in the online gambling market is the increasing penetration of smartphones. Smartphone penetration is increasing because of the declining average selling price (ASP) of smartphones and the developments in communication network infrastructure.
Smartphones provide a convenient and intuitive interface for playing casino games and e-sports. Smartphone users engage extensively with their mobile devices on an intermittent basis, for short to long periods of time.
This can be substantiated from the fact that the number of hours spent by smartphone users globally increased from approximately 2 hours to 3 hours and 30 mins during 2014-2018. Thus, users are rapidly shifting from desktop to mobile devices for playing casino games.
For more insights on the latest drivers, trends, and challenges that will help companies evaluate and develop growth strategies. REQUEST FREE SAMPLE REPORT (INCLUDING GRAPHS & TABLES) OF THIS MARKET
Online Gambling Market Product Outlook (Revenue, USD bn, 2021-2026)
Lottery - size and forecast 2021-2026
Betting - size and forecast 2021-2026
Casino - size and forecast 2021-2026
Online Gambling Market Device Outlook (Revenue, USD bn, 2021-2026)
Desktop - size and forecast 2021-2026
Mobile - size and forecast 2021-2026
The online gambling market share growth by the desktop segment will be significant during the forecast period. The desktop segment in the global online gambling market is likely to experience stagnant growth during the forecast period. Desktops have become traditional devices and are largely being replaced by mobile devices. However, online gambling on desktops still holds the largest share of the market. One of the key reasons is that desktop devices offer a better experience as they have bigger display screens compared with mobile devices.
Online Gambling Market Geography Outlook (Revenue, USD bn, 2021-2026)
North America - size and forecast 2021-2026
APAC - size and forecast 2021-2026
Europe - size and forecast 2021-2026
South America - size and forecast 2021-2026
Middle East and Africa - size and forecast 2021-2026
37% of the market's growth will originate from APAC during the forecast period. China is the key market for online gambling in APAC. Market growth in this region will be faster than the growth of the market in other regions. The rise in the number of mobile application platforms will facilitate the online gambling market growth in APAC over the forecast period.
DOWNLOAD FREE SAMPLE COPY OF THIS REPORT using business Email ID to gain further insights on the market contribution & shares of various segments & regions on higher priority
Some of the Major Online Gambling Companies:
888 Holdings Plc
Bet365 Group Ltd.
Camelot UK Lotteries Ltd.
Flutter Entertainment Plc
Fortuna Entertainment Group a.s.
Galaxy Entertainment Group Ltd.
Kindred Group Plc
MGM Resorts International
New York State Gaming Commission
Scientific Games Corp.
The Betway Group
The Stars Group Inc.
William Hill Plc
The online gambling market is fragmented, and the vendors are deploying organic and inorganic growth strategies to compete in the market.
For detailed information on the production, sustainability, and prospects of the 20+ leading companies available with Technavio. READ FREE SAMPLE REPORT OF THIS MARKET
Browse Summary of the 120 Page ONLINE GAMBLING MARKET IN US Report Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2022-2026: The market value is set to grow by USD 2.22 billion from 2021 to 2026, as per the latest report by Technavio. The online gambling market share growth in US by the mobile segment will be significant during the forecast period.
Browse Summary of the 115 Page GAMBLING MARKET IN UK Report Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2022-2026: The market value is set to grow by USD 2.83 billion from 2021 to 2026, as per the latest report by Technavio. Furthermore, this report extensively covers the gambling market in UK segmentation by platform (offline and online) and type (betting, lottery, and casino).
Table of Contents
1 Executive Summary
1.1 Market overview
2 Market Landscape
2.1 Market ecosystem
3 Market Sizing
3.1 Market definition
3.2 Market segment analysis
3.3 Market size 2021
3.4 Market outlook: Forecast for 2021-2026
4 Five Forces Analysis
4.1 Five forces summary
4.2 Bargaining power of buyers
4.3 Bargaining power of suppliers
4.4 Threat of new entrants
4.5 Threat of substitutes
4.6 Threat of rivalry
4.7 Market condition
5 Market Segmentation by Device
5.1 Market segments
5.2 Comparison by Device
5.3 Desktop - Market size and forecast 2021-2026
5.4 Mobile - Market size and forecast 2021-2026
5.5 Market opportunity by Device
6 Market Segmentation by Product
6.1 Market segments
6.2 Comparison by Product
6.3 Lottery - Market size and forecast 2021-2026
6.4 Betting - Market size and forecast 2021-2026
6.5 Casino - Market size and forecast 2021-2026
6.6 Market opportunity by Product
7 Customer Landscape
7.1 Customer landscape overview
8 Geographic Landscape
8.1 Geographic segmentation
8.2 Geographic comparison
8.3 North America - Market size and forecast 2021-2026
8.4 APAC - Market size and forecast 2021-2026
8.5 Europe - Market size and forecast 2021-2026
8.6 South America - Market size and forecast 2021-2026
8.7 Middle East and Africa - Market size and forecast 2021-2026
8.8 US - Market size and forecast 2021-2026
8.9 China - Market size and forecast 2021-2026
8.10 UK - Market size and forecast 2021-2026
8.11 Germany - Market size and forecast 2021-2026
8.12 Canada - Market size and forecast 2021-2026
8.13 Market opportunity by geography
9 Drivers, Challenges, and Trends
9.1 Market drivers
9.2 Market challenges
9.3 Impact of drivers and challenges
9.4 Market trends
10 Vendor Landscape
10.2 Vendor landscape
10.3 Landscape disruption
10.4 Industry risks
11 Vendor Analysis
11.1 Vendors covered
11.2 Market positioning of vendors
11.3 888 Holdings Plc
11.4 Bet365 Group Ltd.
11.5 Betsson AB
11.6 Camelot UK Lotteries Ltd.
11.7 Entain Plc
11.8 Flutter Entertainment Plc
11.9 Galaxy Entertainment Group Ltd.
11.10 INTRALOT SA
11.11 MGM Resorts International
11.12 William Hill Plc
12.1 Scope of the report
12.2 Inclusions and exclusions checklist
12.3 Currency conversion rates for US$
12.4 Research methodology
12.5 List of abbreviations
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 17,000 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.
View original content to download multimedia:https://www.prnewswire.com/news-releases/online-gambling-market-value-is-set-to-grow-by-usd-142-38-billion-from-2021-to-2026--growing-demand-for-mobile-gambling-to-boost-growth-301601414.html