Marketing Experts Predict Massive Online Casino Growth
A major marketing firm has predicted a huge online casino growth in the next decade and sees market possibilities for gambling companies in almost every corner of the world as online gambling gains in popularity.
Forecast up to the year 2026
The report was compiled by marketing research firm IT Intelligence Markets. The company analysed data from the online casino market and came up with a prediction for the industry in the upcoming years of 2019 to 2026. The marketing research firm calculated the so-called Compound Annual Growth Rate (CAGR) of the entire online casino business. The CAGR is the rate of return that would be required for an investment to grow from its beginning balance to its ending balance, assuming the profits were reinvested again at the end of each year of the investment’s lifespan.
According to local media, the researches used different research methods and looked into the North American, Latin American, European as well as the Asia-Pacific and Indian markets. They reportedly foresee a huge potential growth for the online casino industry with promising prospects in both developed markets as well as in developing countries.
Major players analysed
The report also analysed some of the leading players in the world of online gambling. Local media mentioned some of the leading software companies in the world such as Microgaming, Net Ent, Playtech, BetSoft, Realtime Gaming, IGT, EveryMatrix and SG Interactive as companies which have been included in the report.
Local media reported that the full research also compares different regions with each other. In this part of the study, the production value and rate of growth are compared between several regions. In each region, the key players in the online gambling business are identified and imports and exports specified.
The full report has not been made public but can be ordered online, with prices starting at 3,300 USD. In the report, the complete market profile is described, as well as the foreseen demand for online gambling, several technological advancements which have been made in the last years as well as potential future strategies which will be implemented by casino software companies to strengthen their market position.
The report also details and discusses different product segments by production value and market share. It also looks into market share by each individual gambling application and type.
Earlier this week, the European Gaming and Betting Association published its market data in cooperation with H2 Gambling Capital. In their report, the organisations also reported a growth in the online gambling market within European Union (EU) countries. They said that online gambling currently makes up 23.2 percent of all gambling activities in the EU. This marks a two percent growth in comparison with last year. The report spoke of a “a record-high online gambling share of the EU’s total gambling market”.
According to their report, the UK still remains the largest gambling market within the EU, compromising a total of 34.2 percent of all EU gambling activities, which corresponds with a market value of 7.3 billion EUR in gross gaming revenue.
Even though the online gambling market is booming, offline gambling still remains the most important part of the gambling industry. Offline gambling still accounted for 76.8 percent of all gambling activities in the EU, making the market worth an estimated 95.7 billion EUR in gross gaming revenue.
Offline gambling includes all land-based casinos within the EU, as well as bookmakers offices. A large share of offline gambling activities is however made up by all the lotteries which are active in different EU member states.