The size of the lottery market will grow by USD 228.43 billion; APAC will have a significant market share

NEW YORK, November 23, 2022 /PRNewswire/ — The world lottery market size is expected to increase by $228.43 billion between 2021 and 2026. However, the growth momentum in the market will slow to a CAGR of 9.24% during the forecast period. The report provides a comprehensive analysis of the current market scenario, regional growth opportunities, information on top revenue-generating segments, product launches, and much more. Understand how purchasing the report can have a direct impact on your revenue. Download a free sample PDF report

Technavio has announced its latest market research report titled Global Lottery Market

Technavio has announced its latest market research report titled Global Lottery Market

Regional Analysis

APAC will emerge as the dominant region, occupying 36% of the global market share. APAC is currently one of the fastest growing gaming markets in the world. The region is home to more than 60% of the world’s population and has major gambling venues such as macau. In addition, the increasing adoption of online gambling and increasing Internet penetration have created significant opportunities for providers to prosper in the region. Furthermore, the relaxation of government regulations on gambling and the increase in disposable income of the population will encourage the growth of the lottery market in APAC during the forecast period.

Main revenue generating segment

Based on the type, the market is broken down into segments such as terminal-based gaming, scratch-off games, and sports lotteries. Market growth in the terminal gaming segment will be significant during the forecast period. Terminal-based games are the oldest, most popular, and most common forms of lottery. They mainly include draw or number based games like Lotto, Euro Jackpot, EuroMillions, Mega Millions and Powerball. One of the main factors driving the growth of the segment is the growing popularity of casinos and the anxiety among users to earn a lottery profit. In addition, the increasing adoption of reconfigurable electronic gaming machines in casinos further contributes to the growth of the segment.

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Main growth engine

The market is driven by the increasing penetration of online lotteries. The increasing penetration of the Internet and the rapid adoption of smartphones have increased the consumption of digital content in recent years. This is encouraging market players to make a shift towards using online platforms for virtual lotteries. The ease of access and the availability of various applications are attracting many consumers to participate in the online lottery. Also, providers are using advanced technologies like graphics and interactive bots to make online lottery more attractive to consumers. All these factors are contributing to the growth of the global lottery market.

key trend

According to Technavio, the adoption of technologies by lottery operators will have a positive impact on the market and contribute significantly to its growth during the forecast period. This research report also analyzes other important trends and market drivers that will influence the growth of the market during 2022-2026.

Lottery Market: Adoption of technologies by lottery operators

In order to expand their business, vendors in the market have started to focus on exploring different ways to engage customers. One of the key strategies includes the adoption of emerging technologies to make the offline lottery more attractive. For example, some of the gamers are adopting AR and VR technologies to provide a more realistic experience for consumers and observe their purchasing and gaming patterns. The prominence of big data and IoT will also change the outlook for the global lottery market. Through customer engagement via smart devices, lottery operators can collect a large amount of data, with which operators can perform a comprehensive analysis of the lottery landscape. This data can be used to predict trends, forecast demand, target customers based on their habits and preferences, and determine the appropriate content to display. Many of these technological advancements are expected to positively influence the growth of the global lottery market during the forecast period. Learn about the impact of drivers, trends, and challenges on the growth of the lottery market. Download a free sample report

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Some of the key topics covered in the report include:

market indicators

Market challenges

market trends

Vendor Landscape

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Scope of the lottery market

Report Coverage

Details

Page number

120

base year

2021

Historical period

2017-2021

forecast period

2022-2026

Growth momentum and CAGR

Decelerate to a CAGR of 9.24%

Market growth 2022-2026

$228.43 billion

Market structure

Fragmented

YoY growth (%)

11.11

regional analysis

North America, APAC, Europe, South America, and the Middle East and Africa

Contribution to the real market

Asia-Pacific at 36%

key countries

United States, China, Italy, France and Spain

competitive landscape

Leading vendors, vendor market positioning, competitive strategies, and industry risks

Key companies profiled

Agent NV, Berjaya Corp. Berhad, Camelot UK Lotteries Ltd., China LotSynergy Holdings Ltd., Colorado Lottery, Florida Lottery, Gaming China, Georgia Lottery Corp., Illinois State Lottery, International Game Technology plc, INTRALOT SA, Jumbo Interactive Ltd. , Lotto NZ, Maruhan Corp., New York State Gaming Commission, Scientific Games Corp., STRATACACHE Inc., Tabcorp Holdings Ltd., The California State Lottery and The Hong Kong Jockey Club

Market dynamics

Analysis of the main market, drivers and obstacles of market growth, analysis of fast and slow growth segments, analysis of the impact and recovery of COVID-19 and future consumer dynamics, and analysis of the market condition for the forecast period.

scope of customization

If our report didn’t include the data you’re looking for, you can contact our analysts and get custom segments.

Table of Contents:

1. Executive Summary

2 Market overview

3 Market size

4 Five Forces Analysis

5 Market Segmentation by Type

6 Market segmentation by platform

7 Customer landscape

8 Geographic Landscape

9 drivers, challenges and trends

10 Supplier Landscape

11 Vendor Analysis

12 Appendix

About Technavio

Technavio is a world leading technology research and advisory company. His research and analysis focuses on emerging market trends and provides useful information to help companies identify market opportunities and develop effective strategies to optimize their market positions.

With more than 500 dedicated analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies and spanning 50 countries. Its client base consists of companies of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, in-depth research, and actionable market insights to identify opportunities in existing markets and potentials and assess their competitive positions within changing market scenarios.

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