World News: 09:46 GMT Friday 14th September 2018. [Research and Markets via Globe Newswire via SPi World News]
Dublin, Sept. 14, 2018 (GLOBE NEWSWIRE) -- The report has been added to offering. The global gambling market is expected to reach revenues of over $525 billion by 2023, growing at a CAGR of approximately 4% during 2017-2023.The increasing per capita income, high adoption, growing interest, and rising number of dual-income households will augment the transformation of the global market. The demand for online games and increasing penetration of mobile applications across the US, the UK, Italy, and China & SAR region will help attract new players in this market over the next few years. The global gambling market is driven by increasing penetration of online gaming and betting across the North American and European region. The increase in per capita income, high adoption, growing interest, and growth of dual-income households are some of the factors augmenting the growth of the global market. The market research report provides in-depth market analysis and segmental analysis of the global gambling market by product, platform, and geography.The study considers the present scenario of the global gambling market and its market dynamics for the period 2018-2023. It covers a detailed overview of various market growth enablers, restraints, and trends. The study covers both the demand and supply sides of the market. It also profiles and analyzes the leading companies and various other prominent companies operating in the market.The exponential popularity and rising number of live casinos will help in the development of the global gambling market during the forecast period. These live casinos have the presence of live dealers and run like a real land-based casino. The increase in e-sport competitions in the form of video gaming or pro-gaming or professional video gaming is driving the growth of the global gambling market. These competitions are multiplayer in nature and RTS, FPS, and MOBA is the most popular games in the global market. These events are often broadcasted live worldwide via streaming platforms such as YouTube and Twitch. The online gambling industry has utilized the opportunity to use digital currency and gambling on blockchain-based platforms to ensure that a higher number of consumers use these modes of payment in the global market. The increasing number of bitcoin and cryptocurrency transactions will augment the development of the global gambling market.The global gambling market is highly concentrated with the presence of several regional and international players. The increasing focus on continuous innovations and upgrades to support digital platforms and sustain the intense competition in the global market. Various companies are expanding their businesses to developing countries such as India and China to tap potential opportunities in the market. Factors such as an increase in product or service extensions, technological innovations, and M&A are expected to intensify the competition in the global gambling market during the forecast period. Furthermore, the presence of established international vendors, consumer loyalty, and a shift in consumer preferences are major entry barriers for new players.
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Related Topics: Gambling
Globe Newswire: 09:46 GMT Friday 14th September 2018
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