NEW YORK, March 4, 2021 /PRNewswire/ — The global sports betting market is poised to grow by USD 134.06 billion during 2020-2024, progressing at a CAGR of almost 10% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Impact of COVID-19
The COVID-19 pandemic continues to transform the growth of various industries, however, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have a low impact on the sports betting market.
Frequently Asked Questions:
- Based on segmentation by Platform, which is the leading segment in the market?
Based on the platform, the market saw maximum growth in the offline segment in 2019.
- What are the major trends in the market?
Increasing commercialization of sports events is the major trend in the market.
- At what rate is the market projected to grow?
The market is projected to grow at a CAGR of almost 10% during the forecast period.
- Who are the top players in the market?
888 Holdings Plc, bet365, 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 are the top players in the market.
- What are the key market drivers?
The market is driven by the digital revolution.
- How big is the APAC market?
APAC dominated the market with a 49% share in 2019.
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The market is concentrated, and the degree of concentration will accelerate during the forecast period. 888 Holdings Plc, bet365, 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 are some of the major market participants. Digital revolution will offer immense growth opportunities for the market vendors. In a bid to help players strengthen their market foothold, this sports betting market forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies.
Technavio’s custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.
Sports Betting Market 2020-2024: Segmentation
Sports Betting Market is segmented as below:
- North America
- South America
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Sports Betting Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The sports betting market report covers the following areas:
- Sports Betting Market Size
- Sports Betting Market Trends
- Sports Betting Market Industry Analysis
This study identifies the increasing commercialization of sports events as one of the prime reasons driving the Sports Betting Market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Sports Betting Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist sports betting market growth during the next five years
- Estimation of the sports betting market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the sports betting market across APAC, Europe, North America, MEA, and South America
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of sports betting market vendors
Table of Contents:
- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 – 2024
Five Forces Analysis
- Five Forces Summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Platform
- Market segments
- Comparison by Platform
- Offline – Market size and forecast 2019-2024
- Online – Market size and forecast 2019-2024
- Market opportunity by Platform
- Geographic segmentation
- Geographic comparison
- APAC – Market size and forecast 2019-2024
- Europe – Market size and forecast 2019-2024
- North America – Market size and forecast 2019-2024
- MEA – Market size and forecast 2019-2024
- South America – Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Volume drivers – Demand led growth
- Market challenges
- Market trends
- Vendor landscape
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- 888 Holdings Plc
- Churchill Downs Inc.
- Flutter Entertainment Plc
- GVC Holdings Plc
- Kindred Group Plc
- Sportech Plc
- The Stars Group Inc.
- Webis Holdings Plc
- William Hill Plc
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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