LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the gambling market in the UK provides an analysis of the most important trends expected to impact the market outlook from 2018-2022.
According to Technavio analysts, the gambling market in the UK will grow at a CAGR of over 5% during the forecast period. One of the key factors driving the growth of the gambling market in the UK is the increased adoption of online platforms for gambling. The online gambling sector in the UK has been witnessing substantial growth over the last few years. In 2017, the online gambling segment accounted for over 35% of the entire gambling market in the country. The segment witnessed an incremental growth of 2% between 2015 and 2017. During the forecast period, the UK regulatory bodies expect the growth to continue. Online gambling and its continued growth at the expense of conventional gambling operations will drive the gambling market in the UK during the forecast period.
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In this report, Technavio highlights implementation of artificial intelligence (AI) in gambling as one of the key emerging trends in the gambling market in the UK:
Implementation of artificial intelligence (AI) in gambling
The gambling industry is known for its implementation of emerging consumer trends and innovative technologies. The most effective operators have facilitated a smooth shift from the physical to the digital world. The use of AI in online gambling and casino gameplay has been dominant for years. However, the main change is the application of this technology. AI is embodied by the presence of live dealers (or croupiers) that have the capacity to interact with players in real-time while being underpinned by the random number generating algorithms. These dealers have helped replicate bricks-and-mortar gameplay in the virtual realm, creating an alluring and true gambling experience.
“AI can be used to determine consumer behavior. This would enable sites to better anticipate players’ needs and figure out what drives them to play, quit, or change games the most. AI can also help intensify computer-opponents. AI is used in the gambling industry to improvise customer service. Advanced bots that are replacing customer service representatives can access and analyze knowledge about a customer’s specific playing habits,” says a senior analyst at Technavio for research on gaming.
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Gambling market in the UK segmentation
This market research report segments the gambling market in the UK into the following types, including betting, lottery, and casino. The betting segment held the largest market share in 2017, accounting for nearly 45% of the market. The market share for this type is expected to increase nearly 3% by 2022. The increased adoption of online betting and gaming will contribute to the segment's growth.
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