360iResearch’s Report Gives Insight on the Online Gambling Market’s Growth

23.04.2020, 14:24

ReportLinker has released a report containing insight into how the online gambling market is going to develop by 2025. This report was developed by 360iResearch and published in April 2020. If you would like to access the report, there are three options to do so. An individual license costs $3959, a department license costs $5159, and a corporation license costs $6359. The report is 168 pages long, and you will receive it as a pdf file. As the price tag is a bit hefty, we will walk you through what the report contains so you can determine whether you would like to purchase it. 

According to the report’s summary, 360iResearch anticipates that the international market for internet-based gambling is going to grow at a Compound Annual Growth Rate (CAGR) of 9.98%. This increase would take place between 2019 and 2025. In 2019, the market was worth approximately $53.7 million, whereas it will rise to $95 million by the end of 2025. 

Across the several sectors of online gambling, sports betting is forecasted to increase by the highest amount. The areas studied were bingo, lotteries, social gaming, online poker and e-casinos, and sports betting. In 2019, sports betting saw more growth than any of the other areas, and 360iResearch predicts that this will continue to be the case up until the study’s conclusion in 2025. 

The report also examined trends regarding the type of device used for online gaming. The devices studied were desktop and mobile. 360iResearch found that, in 2019, desktop devices saw the most online gambling activity. However, according to the report’s summary, this will likely change as mobile devices are predicted to grow at a higher CAGR until 2025. 

Next, the report analyzed two payment methods: real money and virtual money. Virtual money is referring to cryptocurrency, such as Bitcoin, Ethereum, Dash, and so on. The report found that real money is likely to experience the most growth over the next several years. 

The report continued on to analyze the online gambling market throughout several different areas of the world. The Americas area was studied across Mexico, Brazil, Argentina, Canada, and the US. The Asia-Pacific area includes Thailand, the Philippines, Malaysia, South Korea, Japan, India, Indonesia, China, and Australia. Then, Europe, the Middle East, and Africa were combined into one region that covers France, Italy, Qatar, the Netherlands, Germany, Russia, South Africa, Saudi Arabia, Spain, the UK, and the United Arab Emirates. In this section of the report, 360iResearch found that Europe, the Middle East, and Africa took up the largest portion of the online gambling market. However, the report predicts that the Asia-Pacific region will experience the fastest growth over the next five years. 

The next section of the report is concerned with company usability. In this chapter, 360iResearch delves into leading vendors and operators in the online gambling market and analyzes their recent innovative technologies. Some of the companies studied include Rhinoceros Operations, Betway, and Fortuna Entertainment, among others. 

Another area evaluated in detail is the FPNV Positioning Matrix. Essentially, this matrix is a tool that evaluates vendors and categorizes them based on several criteria. The general criteria include Product Satisfaction and Business Strategy.  More specifically, the matrix compares usability, customer support, financial viability, business growth, and more. The matrix will allow businesses to understand how they stack up in comparison to other vendors and to make any necessary changes to become more marketable. 

360iResearch then looked at the Competitive Strategic Window, which evaluates the gambling market in terms of geography, demographics, and applications. This tool helps vendors decide who their target audience is and to create strategies based on the findings. 

The report’s summary revealed that the full document contains insights into the following areas:

• Market Penetration. This is the extent to which customers in a target market recognize and purchase a product. 
• Market Development. This is a growth strategy that identifies and strengthens new markets that would be interested in an existing product. 
• Market Diversification: Essentially, this is a corporate strategy that is used to create new product lines to fulfill markets that were previously unreached. 
• Assessment and Intelligence of Competition: This gives insight into competitive players in the market, such as a look at their products, strategies, and technological capabilities. 
• Product Innovation and Development: The report will cover what technological innovations are underway and how they will affect new products and the markets. 

The report also mentioned that it would answer questions about the following areas:

• Porter’s Five Forces and the effect it has on online gambling markets. The five forces are part of a simple framework that evaluates a business’ competitiveness and strength. The model takes into account the bargaining power of buyers and suppliers, threats from new competitors, the threat of substitutes, and industry rivalries. 
• The future market increase or decrease of online gambling;
• Inhibitive factors that are negatively impacting the internet-based gambling market’s revenue development;
• Technology trends and regulatory frameworks;
• The best products and areas to invest in over the next few years;
• Suitable strategic moves for new vendors to open the online gambling sphere;

The report did not give any answers to these questions in its summary. You would need to purchase the full report in order to read about their insights. Based on what we know about the report, it contains much valuable information for new and existing vendors. If you are considering purchasing the full report, you can check it out here.