NEW YORK, April 9, 2021 /PRNewswire/ --
The lottery market is expected to grow by USD 194.14 billion, progressing at a CAGR of about 9% during the forecast period.
NEW YORK, April 9, 2021 /PRNewswire/ --
The lottery market is expected to grow by USD 194.14 billion, progressing at a CAGR of about 9% during the forecast period.
The increasing penetration of online lottery, growing popularity of lottery due to low-cost adoption and easy availability, and adoption of social media marketing for lottery promotion are few of the major factors propelling the market growth. However, factors such as stringent regulations on lottery in various regions, socio-economic impact of lotteries and popularity of other forms of gambling and black market will hamper the market growth.
More details: https://www.technavio.com/report/lottery-market-industry-analysis
Lottery Market: Type Landscape
Based on the type, the terminal-based games segment is expected to witness lucrative growth during the forecast period.
Lottery Market: Geographic Landscape
By geography, APAC is going to have a lucrative growth during the forecast period. About 38% of the market's overall growth is expected to originate from APAC. China is a key market for lotteries in APAC. The relaxation of government regulations and the increasing disposable income of the population will facilitate the lottery market growth in APAC over the forecast period.
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