China Online Lottery Market to increase by USD 3.67 billion between 2021 and 2026 | The increased reach of online lotteries to drive the market growth – Technavio
NEW YORK, Dec. 11, 2023 /PRNewswire/ — The online lottery market size in China is forecast to grow by USD 3.67 billion between 2021 and 2026, and the growth momentum will be accelerating at a CAGR of 5.13% during the forecast period. The growth of the market is driven by the increased reach of online lotteries. Online lottery can be played through computer and mobile devices, with a high adoption among young people. In addition, mobile ads, being one of the strongest mediums of advertising, encourage people to try the games online. Moreover, the online sports lottery in China has been driving market growth. For more insights on the market – Request a report sample
Company Profiles
The online lottery market report in China includes information on the key products and recent developments of leading vendors, including:
- Baidu – The company offers lottery services where you can simply select six numbers from 1 to 49.
- BIT Mining Ltd. – The company offers an online sports lottery service in China.
- China Sports Lottery Operation and Management Co. Ltd. – The company offers sports lottery services in China and offer four types of lottery.
- Gaming China – The company offers a national lottery made for Chinese players everywhere and it is available exclusively online.
- QQLotto – The company offers digital animation 4D lottery games using the technologies of the Digital Lottery Draw System.
Market Dynamics
The growth of the market is driven by factors such as the increased reach of online lottery, high jackpot payouts for winners, and unique marketing techniques in the online lottery segment. However, online scams and negative impacts will hinder the growth of the market.
Competitive Analysis
The report includes competitive analysis, a proprietary tool to analyze and evaluate the position of companies based on their industry position score and market performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc. Request a Sample
Market Segmentation
- By product, the market is segmented into lotto, sports, VLT, and scratch card.
- By device, the market is segmented into mobile and desktop.
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Related Reports:
- The lottery market in Mexico is estimated to grow at a CAGR of 9.3% between 2022 and 2027. The size of the market is forecast to increase by USD 3,537.24 million. High potential ROI is notably driving the market growth, although factors such as security and credibility issues related to lotteries may impede the market growth.
- The lottery market in North America is estimated to grow at a CAGR of 5.4% between 2021 and 2026. The size of the market is forecast to increase by USD 50.25 billion. New launches are notably driving the market growth, although factors such as security and credibility issues related to lotteries may impede the market growth.
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What are the key data covered in this online lottery market report in China?
- CAGR of the market during the forecast period.
- Detailed information on factors that will drive the growth of the market between 2022 and 2026
- Precise estimation of the online lottery market size in China and its contribution to the parent market.
- Accurate predictions about upcoming trends and changes in consumer behavior.
- A thorough analysis of the market’s competitive landscape and detailed information about vendors.
- Comprehensive analysis of factors that will challenge the growth of the online lottery market vendors in China
TOC
- Executive Summary
- Market Landscape
- Market Sizing
- Historic Market Size
- Five Forces Analysis
- Market Segmentation by Product
- Market Segmentaion by Device
- Customer Landscape
- Geographic Landscape
- Drivers, Challenges, and Trends
- Company Landscape
- Company Analysis
- Appendix
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SOURCE Technavio
