Technavio's latest market research report on the global lottery market provides an analysis of the most important trends expected to impact the market outlook from 2018-2022. Technaviodefines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
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Technavio has published a new market research report on the global lottery market from 2018-2022. (Graphic: Business Wire)
According to Technavio analysts, the global lottery market will grow at a CAGR of close to 10% during the forecast period. High return on low investment is a major factor driving the market's growth.
The lottery market comprises a variety of games and tickets that are offered in different price ranges. The reward varies from one ticket to another. The rewards are of two types, physical goods as well as monetary benefits. In 2016, a jackpot worth USD 1.58 billion was split three ways among three winners. Such high return on low investment attracts a large group of individuals, and this factor is expected to drive the market during the forecast period.
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In this report, Technavio highlights the growing promotion of lottery through social media as one of the key emerging trends driving the global lottery market:
Growing promotion of lottery through social media
Social media has become a widely used platform for the promotion of lotteries. Winners and lottery companies post the winning prizes on social networking websites to promote their lotteries. A few of the profiles have become very popular in the segment in terms of promotions. The popularity of various social networking websites has prompted the lottery companies to promote and post their jackpots on such websites.
"Richard Lustig, who became popular because of winning a prize over USD 1 million in seven state-sponsored lottery games from 1993 to 2010, shares the secrets to winning lottery through his social network profile. Thus, promoting the sales of lottery tickets through social media is likely to support the growth of the market during the forecast period," says a senior analyst at Technavio for research on gaming
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Global lottery market segmentation
This market research report segments the global lottery market into the following types (terminal-based games, scratch-off games, and sports lotteries), by platforms (traditional and online), by device (mobile and desktop), and key regions (the Americas, APAC, and EMEA).
The terminal-based games segment held the largest market share in 2017, accounting for nearly 55% of the market. The market share for this segment is expected to increase nearly 1% by 2022. The fastest growing type is scratch-off games, which will account for 29% of the total market share by 2022.
EMEA was the leading region for the global lottery market in 2017, accounting for a market share of 38%. By 2022, EMEA is expected to witness a decline of nearly 3% as the market is matured and is nearing toward saturation. APAC, on the other hand, is expected to witness an impressive growth of nearly 4% in terms of market share, by 2022.
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