NEW YORK, March 9, 2022 /PRNewswire/ --
Sports Betting Market Facts at a Glance-
The Sports Betting Market Share is expected to increase by USD 106.25 billion from 2020 to 2025, according to the recent market study by Technavio. The report provides a detailed analysis of drivers & opportunities, top winning strategies, competitive scenario, future market trends, market size & estimations, and major investment pockets.
APAC will register the highest growth rate of 39% among the other regions. China and Australia are the key markets for Sports Betting. Moreover, market growth in APAC will be faster than the growth of the market in other regions.
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Vendor Insights-
The sports betting market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
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Regional Market Outlook
APAC will register the highest growth rate of 39% among the other regions. Therefore, the sports betting market in APAC is expected to garner significant business opportunities for the vendors during the forecast period. The increase in demand for online games and fantasy sports platforms will facilitate the sports betting market growth in APAC over the forecast period.
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Latest Drivers & Trends of the Market-
With the recent global digital revolution, cloud platforms are being preferred for storing data, and there has been a burgeoning increase in online transactions and payments among commercial as well as retail users. Also, there has been a significant increase in the consumption of digital content in the last five years, with the growing Internet speed. With extensive digitalization, the sports betting landscape has fundamentally changed, and the global sports betting market has shifted toward online or virtual applications and platforms. Modern consumers can easily engage in sports betting and conveniently connect with sportsbooks due to the easy access to the Internet and the availability of various mobile apps and online platforms. The rapid growth of digital platforms and the increasing Internet penetration have given consumers easy access to online sports betting platforms, which will drive the growth of the global sports betting market during the forecast period.
One of the key trends in the global sports betting market is the increasing impact of technologies such as blockchain, virtual reality, and AI, specifically machine learning tools. The global sports betting market is expected to grow during the forecast period as a direct result of improving consumer demand, driven by technological advances. Major vendors in the market are increasingly focusing a significant part of their investments in machine learning tools and methods, which have shown promising results in prediction. Machine learning helps build predictive algorithms and accurate predictive models for better betting efficiency. As the global sports betting market evolves, it is necessary for consumers to find useful strategies and accurate predictions to increase their efficiency. Sports bettors are expected to increasingly become familiar with new machine learning algorithms that attempt to predict the outcomes of games and races. Thus, the emergence of machine learning will be a positive trend for the global sports betting market during the forecast period.
Find additional information about various other market Drivers & Trends mentioned in our FREE sample report.
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Sports Betting Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Decelerate at a CAGR of 10% |
Market growth 2021-2025 |
$ 106.25 billion |
Market structure |
Fragmented |
YoY growth (%) |
21.54 |
Regional analysis |
APAC, Europe, North America, South America, and MEA |
Performing market contribution |
APAC at 39% |
Key consumer countries |
China, UK, US, Italy, Australia, and Germany |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
888 Holdings Plc, Bet365 Group Ltd., Churchill Downs Inc., Flutter Entertainment Plc, GVC Holdings Plc, Kindred Group Plc, Sportech Plc, The Stars Group Inc., Webis Holdings Plc, and William Hill Plc |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period, |
Customization preview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table of Contents
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Platform
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/
SOURCE Technavio
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