in , , , , ,

Happy New Year! Gambling Market to Hit $125 Billion by 2025!

happy-new-year!-gambling-market-to-hit-$125-billion-by-2025!

The gambling market share growth by the casual gaming segment will be significant during the next several years. The market for casual gaming is growing with the increasing adoption of mobile gaming. Most casual gamers prefer mobile devices over PCs and consoles because of easy access to the games. According to the “Gaming Market – Forecast and Analysis Report 2021-2025” from Technavio, the market has witnessed a year-on-year growth rate of 10.41% at an accelerating CAGR of 12%.

The report is segmented by type (casual gaming and professional gaming), device (mobile gaming, console gaming, and PC gaming), platform (online and offline), and geography (APAC, North America, Europe, MEA, and South America). The global online gambling market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market.

The growing competition in the market is compelling vendors to adopt various growth strategies such as promotional activities and spending on advertisements to improve the visibility of their products. Some vendors are also adopting inorganic growth strategies such as M&As to remain competitive in the market.

For Instance, In April 2020, CyberAgent Inc. announced that Kozo Takaoka, former Representative Director, President, and CEO of Nestlé Japan Ltd., was appointed to the corporate advisor of the company on April 1, 2020. Similarly, In January 2021, Microsoft Corp. announced the launch of its new India Development Center (IDC) facility at NCR that would serve as a premier hub for driving cutting-edge engineering and innovation.

APAC will provide maximum growth opportunities in the gambling market during the forecast period. According to our research report, the region will contribute 56% of the global market growth and is expected to dominate the market through 2025.

China, Japan, and South Korea (Republic of Korea) are the key markets for gaming in APAC. Market growth in APAC will be faster than the growth of the market in other regions. The increasing penetration of e-sports in developing countries, such as Taiwan, Malaysia, and Singapore will facilitate the gambling market growth in APAC over the forecast period.

Related

Leave a Reply

Your email address will not be published.

american-gaming-association:-goodbye-2021

American Gaming Association: Goodbye 2021

gpi-reveals-categories-for-global-poker-awards

GPI reveals categories for Global Poker Awards