Lottery Market 2021-2025: Industry COVID-19 Analysis, Market Trends, Growth, Opportunities, & Forecast | Technavio
The lottery market is expected to grow by USD 194.14 billion, progressing at a CAGR of about 9% during the forecast period.
- The lottery market is expected to grow by USD 194.14 billion, progressing at a CAGR of about 9% during the forecast period.
- The increasing penetration of online lottery, growing popularity of lottery due to low-cost adoption and easy availability, and adoption of social media marketing for lottery promotion are few of the major factors propelling the market growth.
- However, factors such as stringent regulations on lottery in various regions, socio-economic impact of lotteries and popularity of other forms of gambling and black market will hamper the market growth.
- China is akey marketforlotteriesin APAC.The relaxation of government regulations andtheincreasingdisposable income of the populationwill facilitate thelottery market growth in APAC over the forecast period.