Where Will the Mobile Gambling Industry Be In 2032?
As the casino industry grows year on year, it’s interesting to see what the statistics show we can expect in the future. Let’s dive into the latest predictions, key stats, and interesting facts about mobile gambling, players, and more.
Annual Growth Rate of the Global Mobile Gaming Industry
In 2022, the Global Mobile Gambling Size capped at $62.2 billion, and it’s predicted to reach nearly $70 billion in 2023.
The market growth is thanks to the maintenance of convenience in terms of mobile availability and the increase of cashless payment methods. It can also be attributed to the increased number of females present online.
According to the predictability stats as per the MRFR Database and Analyst Review, the industry will hit an annual growth rate of $69,72 billion this year and hit triple that in 2032. For 2032, the growth is predicted to come in at around $173,87 billion.
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Convenient Payment Methods Drive Growth
According to the research, the increased use of digital and mobile payment methods has made gaming on any device more convenient for online players. These payment methods are safe and secure, which is a massive boost for the industry.
With cashless payment methods, online casino gamblers have more opportunities to promote and drive cash flow. Banking options like Visa, Mastercard, PayPal, Neteller, and others provide secure deposits and withdrawals online. There is also an increased demand for virtual gaming platforms, which in turn drives the CAGR market.
According to new research, the demand will lead to an expansion of the mobile gaming market between now and 2028.
Mobile gaming platforms offer the same quality features, promotions, and games as desktop platforms. They come with the added benefit of being accessible while on the move, which counts in their favour. The online betting sector is one of the fastest-growing segments, and there is an aim to increase global growth in the years to come.
Boosting New Technology
With technology like ChatGPT, Machine Learning, and Artificial Intelligence, a new era begins for the industry. Virtual gaming companies are investing a lot in new tech to improve the user experience.
Artificial intelligence makes it possible to add new features and functions for mobile gaming. Additionally, websites incorporating AI can provide a better customer support service and increase player safety with responsible gambling measures. The technology can analyse gameplay and spot fraudulent or problematic activity. Another big benefit is that the technology can also recommend games based on your personal game preferences, making the whole experience feel more personalised.
Players of All Kinds
According to the stats, the Global Gambling Market sector includes both gaming enthusiasts and social players. The biggest interest spans the different forms of casino gambling, including lotteries and sports betting.
The stats show that North America will dominate the mobile gambling market while others like Europe, Asia-Pacific, and the Rest of the World follow close behind.
The mobile gaming market contributed 50% to the global gambling market in 2020, with mobile users standing strong at 2.7 billion. This number is set to increase yearly, quickly growing the mobile market.
The Evolution of the Mobile Gaming Industry
The sector has changed a lot over recent years thanks to the introduction of mobile apps. According to USA data, it shows that over 650,000 accounts were opened on mobile betting apps in 2021.
The states predict that due to the increase in mobile gaming on a digital scale, the number of mobile internet subscribers in Asia-Pacific will reach a whopping 333 million.
A new trend that pushes mobile growth is the release of exclusive mobile-friendly branded games. Leading software providers like Microgaming are dedicated to their branded game collections. The latter has signed a deal with the Real Luck Group Ltd to produce over 100 unique branded games.
As smartphone use and technology increase worldwide, it pulls the mobile gambling sector with it. Each year, the number of global smartphone users increases year-on-year by around 5%. The majority of users are found in China and Germany.
Gaming on the Go
One of the reasons mobile gambling is so popular is because it is easily accessible. As long as you have an Android, iOS, or Windows mobile device, you can visit top-rated mobile casinos or download the hottest casino apps.
Mobile users can register and deposit via their device to claim exciting exclusive promotions. And, of course, there are the games that are optimised for an enhanced betting experience.
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