(MENAFN- PR Newswire)
NEW YORK, Dec. 15, 2021 /PRNewswire/ -- The lottery market in US will be driven by factors such as high penetration of smartphones. The penetration of smartphones is increasing because of the declining average selling price of smartphones and developments in communication network infrastructure. Smartphones act as convenient and intuitive interfaces for playing casino games and e-sports. They provide ease of access to casino games and e-sports betting. In addition, lottery apps available on smartphones allow users to win jackpots in a faster, easier, and more convenient manner. Furthermore, smartphones support many mobile-based payment solutions. They also enable vendors to cross-sell other products in their portfolios. Thus, the high penetration of smartphones will significantly drive the growth of the lottery market in US during the forecast period.
Attractive Opportunities in Lottery Market in US by Type and Platform - Forecast and Analysis 2021-2025
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The lottery market in US is expected to grow by USD 27.90 bn at a CAGR of 5.96% during the forecast period. The report offers a thorough analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment.
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Competitors have to focus on differentiating their product offerings with unique value propositions to strengthen their foothold in the market. Market vendors also have to leverage the existing growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments. Arizona Lottery, Connecticut Lottery Corp., Florida Lottery, International Game Technology plc, New York State Gaming Commission, Pennsylvania Lottery, Pollard Banknote Ltd., Scientific Games Corp., Texas Lottery Commission, and The California State Lottery are among some of the major market participants.
Lottery Market in US 2021-2025: Segmentation
- Type
- Scratch-off Games
- Terminal-based Games
- Sports Lotteries
- Platform
The lottery market in US report covers the following areas:
- Lottery Market in US Size
- Lottery Market in US Trends
- Lottery Market in US Industry Analysis
Lottery Market in US 2021-2025: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The high penetration of smartphones is notably driving the lottery market growth in US. However, factors such as the socio-economic impact of lotteries may challenge market growth.
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Lottery Market in US 2021-2025: Key Highlights
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will assist the growth of the lottery market in US during the next five years
- Estimation of the size of the lottery market in US and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the lottery market in US
- Analysis of the market's competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of vendors in the lottery market in US
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| Lottery Market In US Scope |
| Report Coverage | Details |
| Page number | 120 |
| Base year | 2020 |
| Forecast period | 2021-2025 |
| Growth momentum & CAGR | Accelerate at a CAGR of 5.96% |
| Market growth 2021-2025 | USD 27.90 billion |
| Market structure | Fragmented |
| YoY growth (%) | 5.24 |
| Regional analysis | US |
| Performing market contribution | US at 100% |
| Key consumer countries | US |
| Competitive landscape | Leading companies, competitive strategies, consumer engagement scope |
| Companies profiled | Arizona Lottery, Connecticut Lottery Corp., Florida Lottery, International Game Technology plc, New York State Gaming Commission, Pennsylvania Lottery, Pollard Banknote Ltd., Scientific Games Corp., Texas Lottery Commission, and The California State Lottery |
| 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 purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide 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 consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. 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.
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