The global gambling software market size reached USD 54.84 Billion in 2020 and is expected to register a revenue CAGR of 12.7%, during the forecast period, according to latest analysis by Emergen Research. Rising popularity of online gambling is a key factor driving global gambling software market revenue growth. In addition, increasing adoption of digital currency in online gambling is another key factor contributing to revenue growth of the global gambling software market.
Rapid growth in number of Internet and smartphone users globally coupled with ubiquity of Internet has raised significant amount of interest in online gambling among betters. With online betting becoming more refined and systematic, there is an increasing demand for online betting platforms, which is expected to propel growth of the market. The slow and steady legalization of online gambling in various countries is driving increasing popularity of online mobile casinos and prompting players to shift preference from land-based casinos to online gambling and betting. Online gambling offers various benefits to players such as easy accessibility, greater convenience, mobility, reliability, bonuses, rewards, and more gaming options, which is expected to drive growth of the global gambling software market.
Concerns regarding security and privacy of financial transactions while gambling has significantly increased the need for using cryptocurrency to facilitate safer online transactions due to its decentralized nature. Virtual currencies such as Bitcoin, Monero, Ether, and various other cryptocurrencies have become increasingly more popular, particularly in the online gambling sector as it operates under the principle of decentralized technology with no third-party interference and thereby enable gamblers to share confidential information without risking safety and privacy. Increasing awareness about the benefits of cryptocurrency gambling among players and operators in the form of instant transactions, improved confidentiality and security, low cost, and increasing acceptance and adoption of digital currencies in online gambling or sports betting platforms are some factors contributing significantly to revenue growth of the market. Furthermore, increasing integration of AI-based technologies with online gambling platforms is enabling betting companies to provide improved user interfaces to identify players behavioral patterns and high-risk gamblers, and minimize the rate of gaming frauds, which is expected to boost growth of the global gambling software market.
However, high risk of cyber-attack is a major factor expected to hamper global gambling software market growth to some extent during the forecast period.
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Based on the competitive landscape, the market report analyses the key companies operating in the industry:
Cryptologic Inc., Microgaming, International Game Technology PLC, Softswiss, GammaStack, Sporttrade Inc., RealTime Gaming Asia Pte., Ltd., PointsBed Holdings Ltd., Playetch Plc, and edict egaming GmBH.
The report offers precise information about pricing, capacity, value, gross revenue, and profit of the market. The primary aim of the report is to offer in depth details about market size, revenue growth and overall market dynamics to readers, stakeholders, companies to strengthen their share in the global Gambling Software market. It also provides in depth information about key factors, restraints, limitations, challenges along with various market segmentations such as product type, application and regional bifurcation.
Further key findings from the report suggest
- Cloud-based segment is expected to account for largest revenue share over the forecast period due to rising shift towards virtualization, growing popularity of cloud gaming and increasing adoption of online casino cloud solutions to increase consumer engagement and improved user experience.
- Mobile segment revenue is expected to expand at a robust CAGR over the forecast period due to rising popularity of mobile gaming, availability of mobile optimized slot games, and growth in number of smartphone users globally.
- Sports betting segment is expected to account for largest revenue share over the forecast period owing to rising popularity of international sporting events, increasing number of advertising and promotional events conducted by sports betting firms to promote online sports betting, and rising adoption of sports betting software.
- Europe is expected to account largest revenue share over the forecast period due to high popularity of sports betting and online casinos, growth in number of gambling sites, easy access to online gambling, and favourable regulations pertaining to online betting.
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Emergen Research has segmented the global gambling software market on the basis of delivery mode, platform, type, and region:
Delivery Mode Outlook (Revenue, USD Billion; 2018–2028)
- Cloud-Based
- Web-Based
Platform Outlook (Revenue, USD Billion; 2018–2028)
- Desktop
- Mobile
- Smartphone
- Tablet
Type Outlook (Revenue, USD Billion; 2018–2028)
- Sports Betting
- Casino
- Lottery
- Bingo
- Others
The study segments the Gambling Software industry in light of major classification such as product type, potential markets, application, and end-user. This industry assessment for the forecast period, 2021 – 2028 incorporates projections pertaining to the investment feasibility, gross margin, profits, consumption volume, production capability and major market vendors. Likewise, statistics associated with the competitive landscape, shifting consumer behaviour and spending power is showcased and well-explained with the help of treasured resources such as charts, graphs and graphic images, which can be easily incorporated in the business or corporate presentations.
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Market Dynamics:
The report offers insightful information about the market dynamics of the Gambling Software market. It offers SWOT analysis, PESTEL analysis, and Porter’s Five Forces analysis to present a better understanding of the Gambling Software market, competitive landscape, factors affecting it, and to predict the growth of the industry. It also offers the impact of various market factors along with the effects of the regulatory framework on the growth of the Gambling Software market.
Key point summary of the report:
- The report offers a comprehensive overview of the market size, share, and growth rate in the forecast duration.
- It provides details about current scenario, historical data, giving an accurate market forecast for the coming years.
- The study categorizes the market on the basis of product types, applications, end users, market value and volume, business verticals, and 5 major regions.
- It also offers regional market analysis and forecast for prominent geographies in the sector viz., North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
- Industry supply chain, sourcing strategy, upstream feedstock, and downstream demand analysis has also been undertaken in the research report.
- The study offers a comprehensive understanding of the demand and supply dynamics, including production and consumption rates, and mapping of the overall market.
- The report employs different analytical tools including, SWOT analysis, Porter’s five forces analysis, and pricing analysis, to give precise market information.
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