Global Online Gambling Market to Witness the Adoption of AR and VR Technologies | AriztonGVC Holdings, bet365, William Hill, Betfair, The Stars Group, Kindred, Betsson, and 888 Holdings are some of the leading companies offering innovative platforms in the global online casino market
Arizton’s recent market research report on the global online gambling market provides comprehensive industry analysis, trend forecasts, and competitive analysis. The research study segments the market by product (online betting, online casino, and online lottery), by platform (desktop and mobile), by geography (APAC, Europe, North America, Latin America, and MEA), and offers detailed competitive analysis.
The global online gambling market to reach values of more than $74 billion by 2023, growing at a CAGR of around 10% during 2017-2023.
The rising awareness of various mobile applications in developing countries such as APAC will boost the growth of the global online gambling market. The increasing demand from developed markets, enhanced marketing, and online promotion activities will propel the development of the global market.
The top 3 drivers and trends attributing to the development of the global online gambling market are discussed below:
Increased Focus on Online Strategy
The advent of internet applications and easy access to online platforms will help boost the demand in the global online gambling market. Various leading vendors are investing in developing websites and mobile apps that facilitate online activities. The focus on developing innovative mobile applications that will help players attract a large of group of consumers in the market. The increase in the influence of digital consumerism is one of the latest trends impacting the growth of the global online gambling market. GVC Holdings, bet365, William Hill, Betfair, The Stars Group, Kindred, Betsson, and 888 Holdings are some of the leading companies offering innovative platforms to a large group of consumers in the global market. With increasing internet penetration, several online websites have come to serve end-users that seek convenience and easy accessibility to these activities within the comfort of their homes. The vendors will tap potential opportunities by offering services that meet the requirements of the internet-savvy customer segment and venture into both the web and mobile ventures. The increasing penetration of wireless broadband internet, adoption of smartphones and tablets, and growth of social media are some of the leading factors augmenting the development of the global online gambling market.
Growing Adoption of Augmented Reality and Virtual Reality in Gambling
The increasing implementation of newer technologies such as augmented reality and virtual reality will transform the global online gambling market. These technologies are designed to offer unique features to their customers and provide gamers with enhanced gambling experience. The use of AR technology provides a combination of live, direct or indirect physical contact with the physical and real world and computer-generated sensory inputs such as sound, video, graphics, and GPS. VR offers an immersive experience to end-users and enables them to interact with the 3D world. These simulation helps the users experience numerous senses such as vision, hearing, touch, and even smell while gaming in the global online gambling market. The implementation of AR technology provides online casinos with a variety of options for improving and developing their gaming offerings. The vendors are leveraging AR and VR technologies to introduce a host of new features, best elements of live gaming and software with virtual reality add-ons and overlays to make a more engaging experience for their customers. VR headsets will allow players to enjoy the thrill of the casino experience including operating slot machines, enjoying the feel of being inside the game rooms, and interacting with other players and dealers using their avatars. Such technologies will innovate the global online gambling market.
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Growing Number of Live Casinos Worldwide
The growing number of live casinos worldwide will contribute to the growing demand in the global online gambling market during the forecast period. A live casino exists online and runs like a real land-based casino. These casinos offer live dealers and real-time feeds that help in replicating the experience and feel of a real-world land-based casino. The growing popularity of these services among gamblers worldwide will result in the evolution of the global online gambling market. These casinos offer the same range of games that are available at a land-based casino such as poker, dice, baccarat, roulette, and blackjack, among others. Live dealers also create a feeling of presence which makes it possible for the users to feel the emotions of being in a real land-based casino. Users can also contact the dealer and other players via the online chat option. Ladbrokes, William Hill, and Paddy Power Betfair are offering these services in the global online gambling market.
The leading vendors in the global online gambling market are bet365 Group, GVC Holdings, Kindred, Paddy Power Betfair, The Stars Group, and William Hill.
The complete overview of the latest market research report on global online gambling market by Arizton is now available.
The report also offers a detailed study of major trends, drivers, challenges, and also provides the market size and forecast for major geographical regions and key countries.
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