LONDON--(BUSINESS WIRE)--The global VR gambling market is expected to post a CAGR of close to 55% over the period 2018-2022, according to the latest market research report by Technavio. However, the growth momentum of the market is expected to decelerate owing to an anticipated decrease in the year-over-year growth.
A key factor driving the growth of the market is the rise in popularity of online gambling. The increased adoption of online gaming platforms has boosted the global gambling market. The online segment of the global gambling market was valued at around USD 71 billion in 2017 and is expected to reach USD 129 billion by 2022.
This market research report on the global VR gambling market 2018-2022 provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the use of VR as a cure for gambling addiction as one of the key emerging trends in the global VR gambling market:
Global VR gambling market: VR as a cure for gambling addiction
In the gambling sector, VR is used as a technique to cure gambling addiction. VR is seen as a secure virtual environment for gambling addicts. It provides an environment conducive to replicating the cravings of addicts. VR helps therapists to study the behavior of their subjects as technology enables therapists to monitor and determine the progress of individuals.
“Therapists are authorized to provide gambling addicts with a VR environment which caters to the needs of their subjects. Addicts with strong cravings are gently ushered into a VR world where the noise levels, number of slot machines, and number of players is reduced, thereby reducing the intensity of the environment. Therefore, VR is used as a tool to cure gambling addictions,” says a senior analyst at Technavio for research on gaming.
Global VR gambling market: Segmentation analysis
This market research report segments the global VR gambling market by type (casino, betting, lottery) and by geographical regions (APAC, EMEA, and the Americas).
In 2017, the casino segment dominated the market with 100% share but gradually the betting and lottery segments are creating a place for themselves in the market. The betting segment is expected to witness the maximum growth of close to 4% over the forecast period.
The Americas led the market with the largest share in 2017, accounting for close to 43% of the market followed by EMEA and APAC. The dominance of the Americas can be attributed to the rise in popularity of gambling in the region, coupled with the increase in adoption of VR technologies. APAC is expected to witness the maximum increase in market share over the forecast period owing to increasing popularity of gambling in Southeast Asia.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market sizing
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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