The global gambling market was estimated at $151.55 billion in 2020 and is estimated at $256.97 billion in 2025, corresponding to a compound annual growth rate (CAGR) of 9.17% for the forecast period (2021 – 2025). This may be due to the fact that more and more users are using online games as an entertainment tool.
In addition, increased consumer awareness of interactive entertainment systems is also expected to stimulate market demand.
Game developers in emerging markets are constantly striving to improve their gaming experience by bringing to market and rewriting code for different consoles/platforms such as PlayStation, Xbox, Online Lottery, iGaming and Windows PC, all of which are combined into a single product delivered to gamers via a cloud platform.
alt= width=615 height=410 data-ezsrc=http://31.220.61.170/wp-content/uploads/2020/10/The-Expected-Market-Growth-of-Online-Gaming–.jpg-.jpg data-ez= />
Mobile games
In the past, no one considered mobile devices as a gaming platform, especially not online. Today, however, games are more convenient and accessible, with smartphones replacing traditional PCs and set-top boxes as gaming devices.
Smartphones are also becoming more accessible, affordable and portable so players can play on the go, anytime, anywhere. Since revenues from mobile games are higher than those from set-top boxes, the major game developers are now focusing on developing games for the mobile audience.
Both the PlayStore and the AppStore have some of the most downloadable game applications. All you need is a smartphone with a reliable configuration, combined with a stable Internet connection and, of course, the ability to enjoy these games.
Effects of VIDOC
With the arrival of Covid-19, home entertainment seems to be the only option for closed gamers, while cinemas and theatres continue to follow a policy of closure to prevent illness.
A survey conducted in March 2020 found that video players in the United States reportedly spent 45% more time in quarantine than the week before. Exporting is another developing industry that manages to earn more than $1 billion a year. Today, after the pandemic, it has evolved.
The growth of the first spam downloads after the March outbreak has risen to 14% in the United States and as much as 41% in Italy.
Increase in athletic performance
The introduction of gaming platforms such as eSports revitalizes the market. eSports shows significant market demand in the current COVID scenario and is therefore the driving force behind the entire gaming industry worldwide.
Rebellion games with Dota 2 and the League of Legends are two notable examples of the influential catalyst in airport e-commerce. South Korea is considered to be the country of origin of electronic airports.
Although the United States has surpassed South Korea in terms of revenues from electronic airports, it is still one of the largest tournaments in the world.
Final remarks
The gambling market is growing as per capita income rises, interest in gambling increases and the number of double-income households increases, contributing to the transformation of the global marketplace. With the increasing use of smartphones and consoles and the penetration of cloud computing, the market has a strong potential for future growth.
Related Tags: