Lottery Market Size to Grow by USD 182.44 Billion from 2022 to 2027 - Historic Market Size Valued at USD 369.71 Billion in 2017 - Technavio

NEW YORK, March 8, 2023 /PRNewswire/ -- The lottery market is projected to increase at a CAGR of 6.96% during the forecast period – 2022 to 2027 by Technavio data analysts and research experts. This market research report also suggests the statistics about the market size that will grow by USD 182.44 billion. Increasing popularity of online lottery, rising prevalence of lottery for its low-cost adoption and easy availability, and the adoption of social media marketing to promote lottery are projected as some key factors leading to the lottery market share growth. 

For more such market analysis updates, historic (2017 to 2021) and forecast market size (2023 to 2027), request for the sample PDF report.

New Business Opportunities - Market Segments and Key Regions Analysis

As per Technavio's analysis, there are two market segments classified including offline and online in the lottery market.

Among these market segments, the offline segment is projected to record the highest market share growth during the forecast period. It was valued at USD 350.74 billion in 2017 and continued to grow significantly by 2021.

Considering the geographical regions for market share growth, APAC is projected at top of the list. 36% of the total market share growth will originate from the APAC by 2027.

North America would be another leading region in terms of market share growth.

Technavio further suggests, several governments in the region are promoting the lottery as an activity that supports a good cause, that is also driving the demand for offline lotteries. Hence, these factors lead to the offline segment growth, and it is also expected to grow during the forecast period.

For more detailed segments analysis and geographical business distribution, historic (2017 to 2021), and forecast market size (2023 to 2027), get the exclusive sample PDF report.

Key Market Driver, Trend, and Challenge

• The increasing popularity of online lottery is significantly driving the lottery market growth.
• Technavio also suggests, increasing usage of lottery money to accomplish noble causes will emerge as a primary market trend for growth in the lottery market from 2022 to 2027.
• As an emerging market challenge, socio-economic impact of lotteries may impede market growth as per Technavio's report.

What`s New?

• Special coverage on the Russia-Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession
• Global competitiveness and key competitor positions

Market presence across multiple geographical footprints - Strong/Active/Niche/Trivial -  buy the full report.

Key Market Vendors

There are a few key vendors operating in the market, mentioned in the report such as:

• Arizona Lottery
• International Game Technology plc
• Agento N.V.
• Colorado Lottery
• China LotSynergy Holdings Ltd.
• Florida Lottery
• Camelot UK Lotteries Ltd.
• Gaming China
• Georgia Lottery Corp.

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Key Data Covered in this Lottery Market Report

• Projected CAGR of the market during 2023-2027
• Detailed statistical information on the major market drivers of the lottery market during 2023-2027
• Market size analysis of the lottery market size and its association with the parent market
• Relevant predictions about upcoming market trends and detailed consumer behavior analysis
• Market share growth analysis across North America, APAC, Europe, South America, and the Middle East and Africa
• Detailed market's competitive landscape and key information about market vendors
• Comprehensive analysis of various market challenges

Related Reports

• The lottery market in US is projected to increase at a CAGR of 6.61% during the forecast period – 2022 to 2027 by Technavio data analysts and research experts. This market research report also suggests statistics about the market size that will grow by USD 39.39 billion.
• The online gambling market is projected to increase at a CAGR of 11.03% during the forecast period – 2022 to 2027 by Technavio data analysts and research experts. This market research report also suggests statistics about the market size that will grow by USD 150.5 billion.

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SOURCE Technavio