LONDON--(BUSINESS WIRE)--The global lottery market size is poised to grow by USD 220.52 billion during 2020-2024, progressing at a CAGR of almost 10% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.
The use of social media platforms is growing among consumers because of the growth in the penetration of smartphones and Internet. This is encouraging vendors to focus on these platforms as a part of innovative marketing strategies to promote lotteries. Moreover, as social media has lesser restrictions than traditional marketing methods, it has become a popular and beneficial means of product advertising and promotion for companies. Additionally, brand engagement by showcasing offers through social media marketing and promotion of lotteries by vendors are also aiding in driving the growth of the market. The increasing number of users engaging in lotteries will significantly influence the growth of the lottery market during the forecast period.
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- The major lottery market growth came from terminal-based games segment. The prize-money awarded in the terminal-based games is significantly more than the other type of lotteries. Additionally, the growing adoption of reconfigurable electronic gaining machines among casinos will contribute to the growth of the lottery market. Market growth in this segment will be slower than the growth of the market in the scratch-off games segment.
- APAC had the largest lottery market share in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The increasing disposable income and the increased penetration of the internet, which has aided in the increasing adoption of online gambling, will significantly influence lottery growth in this region. Market growth in this region will be faster than the growth of the market in other regions.
- The global lottery market is fragmented. California State Lottery, Camelot UK Lotteries Ltd., China LotSynergy Holdings Ltd., Florida Lottery, International Game Technology Plc, INTRALOT SA, Lotto NZ, New York State Gaming Commission, Scientific Games Corp., and The Hong Kong Jockey Club. are some of the major market participants. To help clients improve their market position, this lottery market forecast report provides a detailed analysis of the market leaders.
- As the business impact of COVID-19 spreads, the global lottery market 2020-2024 is expected to have Positive and Superior growth. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts.
Read the full report here: https://www.technavio.com/report/report/lottery-market-industry-analysis
Advent of Government-Organized Gambling in the Form of State and National Lottery will be a Key Market Trend
The advent of government-organized gambling in the form of state and national lottery is one of the key lottery market trends. To maintain consumer interest, government-run lotteries have started providing a variety of lottery games and increased spending on advertising to boost awareness. The revenue generated from lotteries is used for building public facilities such as educational institutions. These factors will positively impact the market growth.
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Lottery Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist lottery market growth during the next five years
- Estimation of the lottery market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the lottery market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of lottery market vendors
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PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
- Currency conversion rates for US$
PART 03: MARKET LANDSCAPE
- Market ecosystem
- Value chain analysis
- Market characteristics
- Market segmentation analysis
PART 04: MARKET SIZING
- Market definition
- Market sizing 2019
- Market outlook
- Market size and forecast 2019-2024
PART 05: FIVE FORCES ANALYSIS
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
PART 06: MARKET SEGMENTATION BY TYPE
- Market segmentation by type
- Comparison by type
- Terminal-based games - Market size and forecast 2019-2024
- Scratch-off games - Market size and forecast 2019-2024
- Sports lotteries - Market size and forecast 2019-2024
- Market opportunity by type
PART 07: MARKET SEGMENTATION BY PLATFORM
- Market segmentation by platform
- Comparison by platform
- Traditional - Market size and forecast 2019-2024
- Online - Market size and forecast 2019-2024
PART 08: MARKET SEGMENTATION BY DEVICE
- Mobile - Market size and forecast 2019-2024
- Desktop - Market size and forecast 2019-2024
- Market opportunity by platform
PART 09: CUSTOMER LANDSCAPE
- Buying criteria of lottery
PART 10: GEOGRAPHIC LANDSCAPE
- Geographic segmentation
- Geographic comparison
- APAC - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- North America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity
PART 11: DECISION FRAMEWORK
PART 12: DRIVERS AND CHALLENGES
- Market drivers
- Market challenges
PART 13: MARKET TRENDS
- Adoption of technologies by lottery operators
- Growing use of lottery money for good cause
- Growing focus on ensuring security of lotteries
PART 14: VENDOR LANDSCAPE
- Landscape disruption
- Competitive scenario
PART 15: VENDOR ANALYSIS
- Vendors covered
- Vendor classification
- Market positioning of vendors
- California State Lottery
- Camelot UK Lotteries Ltd.
- China LotSynergy Holdings Ltd.
- Florida Lottery
- International Game Technology Plc
- INTRALOT SA
- Lotto NZ
- New York State Gaming Commission
- Scientific Games Corp.
- The Hong Kong Jockey Club
PART 16: APPENDIX
- Research methodology
- List of abbreviations
- Definition of market positioning of vendors
PART 17: EXPLORE TECHNAVIO
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.