Online Gambling Market Rising Popularity Of The Freemium Model To Boost The Market Growth

Technavio has been monitoring the online gambling market and it is poised to grow by USD 114.21 bn during 2020-2024, decelerating at a CAGR of over 11% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.

Technavio has announced its latest market research report titled Global Online Gambling Market 2020-2024 (Graphic: Business Wire)

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Frequently Asked Questions:

What are the major trends in the market? Introduction of bitcoin gambling is a major trend driving the growth of the market.

At what rate is the market projected to grow? The year-over-year growth for 2020 is estimated at 12.04% and the incremental growth of the market is anticipated to be $ 114.21 bn.

Who are the top players in the market? 888 Holdings Plc, bet365 Group, Betsson Ab, Camelot UK Lotteries Ltd., Flutter Entertainment Plc, Galaxy Entertainment Group Ltd., GVC Holdings Plc, INTRALOT SA, MGM Resorts International, and William Hill Plc, are some of the major market participants.

What is the key market driver? The rising popularity of the freemium model is one of the major factors driving the market.

How big is the APAC market? The APAC region will contribute 36% of the market share.

The market is concentrated, and the degree of concentration will decelerate during the forecast period. 888 Holdings Plc, bet365 Group, Betsson Ab, Camelot UK Lotteries Ltd., Flutter Entertainment Plc, Galaxy Entertainment Group Ltd., GVC Holdings Plc, INTRALOT SA, MGM Resorts International, and William Hill Plc are some of the major market participants. The rising popularity of the freemium model will offer immense growth opportunities. To make most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

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Technavio’s custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The online gambling market report covers the following areas:

Online Gambling Market Size

Online Gambling Market Trends

Online Gambling Market Industry Analysis

This study identifies the introduction of bitcoin gambling as one of the prime reasons driving the online gambling market growth during the next few years.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.

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Online Gambling Market 2020-2024: Key Highlights

CAGR of the market during the forecast period 2020-2024

Detailed information on factors that will assist online gambling market growth during the next five years

Estimation of the online gambling market size and its contribution to the parent market

Predictions on upcoming trends and changes in consumer behavior

The growth of the online gambling market

Analysis of the market’s competitive landscape and detailed information on vendors

Comprehensive details of factors that will challenge the growth of online gambling market vendors

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.

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