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VR Gambling Market by Type and Geography - Forecast and Analysis 2021-2025

  • Published: Nov 2021
  • Pages: 120
  • SKU: IRTNTR71619
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The virtual reality (VR) gambling market share is expected to increase by USD 1.74 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 53.13%.

This VR gambling market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers VR gambling market segmentation by type (casino, betting, and lottery) and geography (North America, Europe, APAC, MEA, and South America). The VR gambling market report also offers information on several market vendors, including 888 Holdings Plc, Caesars Entertainment Corp., DraftKings Inc., Evolution Gaming Group, Golden Nugget, GVC Holdings Plc, Kindred Group Plc, Mr Green, SlotsMillion, and William Hill Plc among others.

What will the VR Gambling Market Size be During the Forecast Period?

Download the Free Report Sample to Unlock the VR Gambling Market Size for the Forecast Period and Other Important Statistics

 

VR Gambling Market: Key Drivers and Challenges

The rise in popularity of online gambling is notably driving the virtual reality gambling market growth, although factors such as high cost of VR headsets may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the VR gambling industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key VR Gambling Market Driver

The increased adoption of online gaming platforms has boosted the VR gambling market. The advent of online casinos is one of the key factors that will drive the adoption of VR technology in the online gambling segment. The online gambling segment has undergone certain advances in the last decade, including 3D graphics, live dealer casinos, and mobile gaming. VR is the next milestone in the evolution of internet gambling. The current and rapid changes in technology have paved the way for virtual experiences in the gambling sector. Also, vendors have been significantly promoting online gambling by launching gambling apps. Thus, the growing popularity of online gambling will leverage the VR gambling market during the forecast period.

Key VR Gambling Market Challenge

The high cost of VR headsets is one of the key factors that will curb the growth of the VR gambling market. The global VR headset market for gaming applications has progressed to the growth stage of the product lifecycle. However, the initial high cost of the device hinders its adoption. The vendors in the global VR headset market offer their products at high prices. The high cost of VR headsets will result in their low adoption among consumers. Innovators and early adopters are likely to buy these products at the prices at which they are offered. However, the other consumers, including the early majority, the late majority, and laggards, are likely to adopt VR headsets only when the prices are reduced. 

This VR gambling market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Who are the Major VR Gambling Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • 888 Holdings Plc
  • Caesars Entertainment Corp.
  • DraftKings Inc.
  • Evolution Gaming Group
  • Golden Nugget
  • GVC Holdings Plc
  • Kindred Group Plc
  • Mr Green
  • SlotsMillion
  • William Hill Plc

 

This statistical study of the VR gambling market encompasses successful business strategies deployed by the key vendors. The VR gambling market is fragmented and the vendors are delivering numerous gaming options to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The VR gambling market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for VR Gambling Market?

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43% of the market’s growth will originate from North America during the forecast period. The US and Canada are the key markets for VR gambling in North America. Market growth in this region will be faster than the growth of the market in Europe and MEA.

The rise in the popularity of gambling and the increased adoption of VR technologies will facilitate the VR gambling market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Type Segments in the VR Gambling Market?

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The VR gambling market share growth by the casino segment will be significant during the forecast period. Though the VR casino segment is in the infancy stage, it is expected to witness growth by 2022. Several gambling vendors are venturing into the VR gambling space by providing virtual casinos. Online gambling developers are aiming at commercializing VR technologies. VR devices help casino game developers to create an interactive environment.

This report provides an accurate prediction of the contribution of all the segments to the growth of the virtual reality gambling market size and actionable market insights on post COVID-19 impact on each segment.

 

VR Gambling Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 53.13%

Market growth 2021-2025

$ 1.74 billion

Market structure

Fragmented

YoY growth (%)

32.17

Regional analysis

North America, Europe, APAC, MEA, and South America

Performing market contribution

North America at 43%

Key consumer countries

US, UK, China, Japan, and Canada

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

888 Holdings Plc, Caesars Entertainment Corp., DraftKings Inc., Evolution Gaming Group, Golden Nugget, GVC Holdings Plc, Kindred Group Plc, Mr Green, SlotsMillion, and William Hill Plc

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

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What are the Key Data Covered in this VR Gambling Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive VR gambling market growth during the next five years
  • Precise estimation of the VR gambling market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the virtual reality gambling industry across North America, Europe, APAC, MEA, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of virtual reality gambling market vendors

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Executive Summary

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2020
  • Market outlook: Forecast for 2020 - 2025

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
  • Casino - Market size and forecast 2020-2025
  • Betting - Market size and forecast 2020-2025
  • Lottery - Market size and forecast 2020-2025
  • Market opportunity by Type

Customer landscape

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • North America - Market size and forecast 2020-2025
  • Europe - Market size and forecast 2020-2025
  • APAC - Market size and forecast 2020-2025
  • MEA - Market size and forecast 2020-2025
  • South America - Market size and forecast 2020-2025
  • Key leading countries
  • Market opportunity by geography
  • Market drivers
  • Market challenges
  • Market trends

Vendor Landscape

  • Overview
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • 888 Holdings Plc
  • Caesars Entertainment Corp.
  • DraftKings Inc.
  • Evolution Gaming Group
  • Golden Nugget
  • GVC Holdings Plc
  • Kindred Group Plc
  • Mr Green
  • SlotsMillion
  • William Hill Plc

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The vr gambling market growth will increase by $1738.53 million during 2020-2025.
The vr gambling market is expected to grow at a CAGR of 53.13% during 2020-2025.
Technavio has segmented the vr gambling market by type (Casino, Betting, and Lottery) and geographic (North America, Europe, APAC, MEA, and South America).
888 Holdings Plc, Caesars Entertainment Corp., DraftKings Inc., Evolution Gaming Group, Golden Nugget, GVC Holdings Plc, Kindred Group Plc, Mr Green, SlotsMillion, William Hill Plc are a few of the key vendors in the vr gambling market.
North America will register the highest growth rate of 43.10% among the other regions. Therefore, the vr gambling market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the vr gambling market growth are:
  • Rise in popularity of online gambling
The vr gambling market vendors should focus on grabbing business opportunities from the casino segment as it accounted for the largest market share in the base year.
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