LONDON--(BUSINESS WIRE)--The gambling market is expected to grow by USD 231.63 billion during 2020-2024, according to the latest market research report by Technavio. Request a free sample report
The high penetration of smartphones is one of the major reasons for market growth. The number of smartphone users is expected to cross 3.6 billion by 2023. This increase in smartphone penetration is attributed to the declining average selling price (ASP) of smartphones and developments in communication network infrastructure. Moreover, users are rapidly shifting from desktop to mobile devices for playing casino games. Smartphones are becoming one of the major platforms for online gambling as they provide privacy and ease of access to casino games and e-sports betting.
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As per Technavio, the use of AI in online gambling will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Gambling Market : Use Of AI In Online Gambling
Enterprises across various industries are implementing AI solutions to improve their business processes. Gambling operators are also incorporating AI technology into their online gambling websites to improve user experience. Land-based casino operators are using AI to analyze the risk appetite behavior of the users, find the most lucrative players, and predict the winners and losers during casino games. This helps in making the decisions to provide incentives and freebies to users. Thus, the increasing use of AI is expected to drive market growth during the forecast period.
“Other factors such as the use of bitcoins in gambling, and the growing number of mergers and acquisitions will have a positive impact on the growth of the gambling market value during the forecast period,” says a senior analyst at Technavio.
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Gambling Market: Segmentation Analysis
This market research report segments the gambling market by type (lottery, betting and casino), platform (offline and online), and geography (APAC, Europe, MEA, North America and South America).
The North American region led the gambling market in 2019, followed by APAC, Europe, South America and MEA. During the forecast period, the APAC region is expected to register the highest incremental growth due to factors such as increasing establishment of casinos, and the rise in sports betting.
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Some of the key topics covered in the report include:
Type
- Lottery
- Betting
- Casino
Platform
- Offline
- Online
Geographic segmentation
- APAC
- Europe
- MEA
- North America
- South America
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
About Technavio
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