Technology Advancement in the Lottery during the Covid-19 Pandemic Is Projected To Drive the MarketDownload Sample Reports Overview
The market is predicted to witness a decline during the forecast period. As we can notice that due to the lockdown, most of the places are shut down which has impacted the market vastly in a negative manner. The lottery market has small, medium and large suppliers and requires heavy investment to get into lottery market which is predicted to hinder the market in the estimated period. Moreover, many governments across the globe is giving permission to reopen the casino and other places to start the business which is predicted to drive the market during lockdown. For instance, despite of pandemic Maltese government gives permission for lotto booths to reopen with certain precautionary measure, such as wearing masks and sanitization of places. Major companies provide comprehensive, integrated and robust consultancy services to the clients for operational setup it is predicted to create more investment opportunity in the estimated period. During this unique situation, our analysts are helping our clients in understanding the impact of COVID19 on lottery market by providing them with an in-depth analysis.
Our report includes:
- Technological Impact
- Social Impact
- Investment Opportunity Analysis
- Pre- & Post-COVID Market Scenario
- Infrastructure Analysis
- Supply Side & Demand Side Impact
As per a latest report published by Research Dive, the global lottery market is set to generate a revenue of $325.8 million by 2026, at a CAGR of 9.4% during the forecast period from 2019 to 2026. The market has been segmented based on type, application and region. The lottery market report provides in-depth insights on drivers, vital segments, opportunities, restraints, and key players of the market.
Factors Affecting the Market Growth
As per report, technology advancement is reforming the lottery market is projected to drive in the estimated period. Moreover, stringent rules and regulation with regards to gambling is projected to hamper the market growth in the estimated period.
The lotto segment is projected to have the highest share
On the basis of type, the global lottery market is further divided into the lotto, quizzes type lottery, number game, scratch -off instant games and others. The lotto segment generated a revenue of $59.3 million in revenue in 2018 and is projected to grow at 9.3% CAGR in the estimated period. The lotto segment have multiple features such as number shield, quick pick and double jackpot which is projected to boost the segment in the estimated period.
Online segment is projected to be the most lucrative segment
On the basis of application, the global lottery market is further divided into the online lottery, lottery store. The online lottery segment generated a revenue of $76.5 million in 2018 and is projected to grow with a CAGR of 10.4% CAGR in the estimated period. Increasing use of the online platform for gambling and other purpose is projected to boost the segment in the estimated period.
Geographical Analysis and Major Market Players
On the basis of region, the global lottery market is segmented into North America, Europe, Asia Pacific, and LAMEA. The Asia-Pacific market generated a revenue of $51.1 million in 2018 and is projected to grow with a CAGR of 9.1% in the estimated period. Increasing awareness in the lottery schemes, product innovation and continuous legalization is projected to boost the region market in the estimated period.
Top Companies Leading the Market
Top 10 major key players in the Lottery market are -
3. Camelot Group
4. Florida Lottery
5. Francaise des Jeux
6. Mizuho Bank Ltd.
7. Loterías y Apuestas del Estado
8. Hong Kong Jockey Club
9. Singapore Pools
10. California Lottery