Even in the face of a lurking economic recession and COVID-19 pandemic, the online gambling and betting market is projected to grow by US$49.2 billion, from a Compounded Annual Growth Rate (CAGR) of 9.6%, according to a report on ResearchAndMarkets.com. Poker, being one of the divisions analyzed in the study, is predicted to grow at an 11.2% annual rate, and by the end of the analysis phase, it is forecasted to reach a market cap of USD 44.2 billion.
Indeed, it is a strange time in our history. The COVID-19 pandemic so far has done nothing but let loose of a string of unparalleled events shaking the industry. Consequently, the poker bazaar will now be reset to a new state which going onwards in a post-coronavirus age will constantly be redefined.
Staying ahead of the upcoming trends and accurate analysis is vital now more than ever to cope with improbability, change and constant adaptations to new and developing market scenarios.
As part of the new emergent geographical scene, the US is projected to readapt to an 11.2% CAGR. In Europe, Germany is projected to build up about USD 2.1 billion to the region in the upcoming 7 to 8 years. Additionally, over USD 2.2 billion worth of forecasted exigency in the area will come from other European markets. In the case of Japan, the Poker market is projected to reach USD 3.1 billion by the end of the analysis period.
Criticized for the epidemic, considerable political and economic disputes threaten China. In the middle of the growing need of economic decoupling, the challenging relationship between China and the rest of the world will affect the opportunities and competition in the online gambling scene. Contrary to these tricky consumer and business views, the world’s second-largest economy will still keep on growing at the rate of 9.5% over the next couple of years and add roughly USD 7.2 billion in terms of modifiable market opportunities.
The forecast and global market analysis for the online gambling market covered in this report include the current and future analysis (2020-2027) together with a historical assessment of the markets between 2012 and 2019. The research estimates are offered for 2020, while research projection covers the period 2021 to 2027.