LONDON--(BUSINESS WIRE)--The global mobile gambling market is expected to grow at a CAGR of close to 19% from 2017-2021, according to a new market research report by Technavio.
Global mobile gambling market segmentation by type and end-user
Technavio’s report on the global mobile gambling market analyses the business dimensions and presents a comprehensive breakdown in terms of market segmentation by type, including betting, casino, poker, and lottery. As projected in 2016, around 54% of the market share originated from betting.
Based on end-user, the global mobile gambling market has been segmented into gambling enthusiasts, social exuberant, and dabblers. As of 2016, around 73% of the market share came from gambling enthusiasts.
“Gambling enthusiasts are extremely enthusiastic and passionate about gaming. They have a positive attitude towards gaming and have knowledge about the games they play. These consumers seek the entertainment value of the game over ROI for their investments. Consumers in this segment are often economically sound and tend to have a lavish lifestyle. Playing mobile gambling games can be a stress buster for them. These consumers have individualistic and liberal gaming views,” says Ujjwal Doshi, a lead analyst at Technavio for gaming research.
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Global mobile gambling market: competitive vendor landscape
The global mobile gambling market is dominated by few vendors. The rise in the number of gambling premises across the world has resulted in the high penetration of gambling, which is one of the key factors driving the market growth. 888 Holdings, Bet-at-home.com, Bwin.Party, and Ladbrokes dominate the global mobile gambling market. The market is highly competitive and is witnessing rapid technological advances and changing consumer preferences. With the increase in competition, the market is witnessing consolidation. The influx of private labels in the market is also on the rise.
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Other topics covered in the report:
Market drivers:
- Increased interest among the younger population
- Legalization of online gambling in many countries
Market challenges:
- Mobile gambling invoking addictive behavior among low-income population
- Securing online payments can be challenging
Market trends:
- Vendors accepting cash alternative
- Changing marketing strategies
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