Lottery Market Size to Grow by $228.43 Billion; APAC to have significant market share

NEW YORK, Nov. 23, 2022 /PRNewswire/ — The global lottery market the size is expected to grow by USD 228.43 billion between 2021 and 2026. However, the growth momentum in the market will slow down to a CAGR of 9.24% during the forecast period. The report provides a comprehensive analysis of the current market scenario, regional growth opportunities, insights into key revenue-generating segments, product launches, and much more. Understand how purchasing the report can directly impact your revenue. Download a free PDF report example

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 gambling 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. Additionally, the growing adoption of online gambling and growing internet penetration have created significant opportunities for merchants to thrive in the region. In addition, the easing of government gambling regulations and the increase in disposable income of the population will boost the growth of the lottery market in APAC during the forecast period.

Top revenue generating segment

Based on the type, the market is analyzed across segments such as terminal-based games, scratch card games, and sports lotteries. Market growth in the terminal-based gaming segment will be significant over the forecast period. Terminal-based games are the oldest, most popular and most common form of lottery. They mainly include games based on drawings or numbers such as Lotto, Euro Jackpot, EuroMillions, Mega Millions and Powerball. One of the major factors driving the growth of the segment is the growing popularity of casinos and the anxiety among users to make profits from lotteries. Additionally, the growing adoption of reconfigurable electronic gaming machines in casinos is further contributing to the growth of the segment.

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Main growth factor

The market is being driven by the growing penetration of online lotteries. The growing 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 switch to using online platforms for virtual lotteries. The ease of access and availability of various apps are attracting many consumers to participate in the lottery online. Furthermore, the providers use advanced technologies such as graphics and interactive bots to make online lotteries 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 positively impact the market and contribute significantly to its growth over the forecast period. This research report also analyzes other significant 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, marketplace sellers have started to focus on exploring different ways to engage customers. One of the key strategies includes adopting 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 buying and playing patterns. The importance 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 huge amount of data, using which operators can perform a comprehensive analysis of the lottery landscape. This data can be used to forecast trends, predict demand, target customers based on their habits and preferences, and determine appropriate content to display. Many of these technological advances are expected to positively impact the growth of the global lottery market during the forecast period. Know 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 drivers

Market challenges

Market trend

SellerLandscape

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  • The casino gaming equipment market report is a comprehensive research document that provides in-depth qualitative and quantitative intelligence. Technavio analysts estimate a market share growth of USD 14265.1 million from 2022 to 2027, at a CAGR of 5.55% The growing involvement of suppliers in the casino gambling market is driving the growth of the casino gaming equipment market in particular, although factors such as restrictions on gambling d gambling in many countries could hinder the growth of the market.

Scope of the lottery market

Report coverage

Details

Page numbers

120

Reference 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

USD 228.43 billion

Market structures

fragmented

Year-Over-Year Growth (%)

11.11

Regional analysis

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

Execution of the market contribution

36% APAC

key countries

United States, China, Italy, France and Spain

competitive scenario

Leading suppliers, market positioning of suppliers, 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. , Lot 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 barriers to market growth, analysis of the fast and slow growing segments, analysis of the impact and recovery of COVID-19 and future consumer dynamics and market condition analysis for the forecast period.

Customization expertise

If our report didn’t include the data you’re looking for, you can reach out to our analysts and customize the segments.

Summary:

1 Executive summary

2Market overview

3 Market sizing

4 Analysis of the five forces

5 Market segmentation by type

6 Market segmentation by platform

7 Customer landscape

8 Geographical landscape

9 Drivers, challenges and trends

10 VendorLandscape

11 Vendor analysis

12 Appendix

About Technavio

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

With over 500 specialist analysts, Technavio’s reporting library consists of over 17,000 reports and counts, covering 800 technologies, spanning 50 countries. Their client base consists of companies of all sizes, including more than 100 Fortune 500 companies. This growing client base is based on Technavio’s comprehensive coverage, extensive research and actionable market insights to identify opportunities in the markets existing and potential and evaluate their competitive positions within evolving market scenarios.

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Global lottery market

Global lottery market

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cision

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