LONDON–(BUSINESS WIRE)–Technavio has been monitoring the lottery market in us and it is poised to grow by USD 20.62 billion during 2020-2024, progressing at a CAGR of almost 5% 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.
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 lottery market in US. The market growth in 2020 is likely to Decrease compared to the market growth in 2019.
Frequently Asked Questions:
Based on segmentation by Type, which is the leading segment in the market?
Based on the type, the scratch-off games segment led the market in 2019.
What are the major trends in the market?
High penetration of smartphones 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 5% during the forecast period.
Who are the top players in the market?
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 the major players in the market.
What are the key market drivers and challenges?
The market is driven by the growing adoption of marketing strategies to increase ticket sales. However, the prevalence of black market will challenge the growth of the market participants.
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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. 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 some of the major market participants. Although the growing adoption of marketing strategies to increase ticket sales will offer immense growth opportunities, the prevalence of black market is likely to pose a challenge for the market vendors. In a bid to help players strengthen their market foothold, this lottery market in us 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.
Lottery Market in US 2020-2024: Segmentation
Lottery Market in US is segmented as below:
- Scratch-off Games
- Terminal-based Games
- Sports Lotteries
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Lottery Market in US 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 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
This study identifies the High penetration of smartphones as one of the prime reasons driving the Lottery Market in US 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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Lottery Market in US 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist lottery market in us growth during the next five years
- Estimation of the lottery market in us size 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 lottery market in us 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 Analysis
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Type
- Market segments
- Comparison by Type
- Scratch-off games – Market size and forecast 2019-2024
- Terminal-based games – Market size and forecast 2019-2024
- Sports lotteries – Market size and forecast 2019-2024
- Market opportunity by Type
Market Segmentation by Platform
- Market segments
- Comparison by Platform
- Traditional – Market size and forecast 2019-2024
- Online – Market size and forecast 2019-2024
- Market opportunity by Platform
- Volume driver- Demand led growth
- Market challenges
- Market trends
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- 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
- The California State Lottery
- Scope of the report
- Currency conversion rates for US$
- Research methodology
List of abbreviations
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