The online social casino global market report 2024from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Online Social Casino Market, 2024The online social casino global market report 2024
Market Size –
The online social casino market size has grown strongly in recent years. It will grow from $7.82 billion in 2023 to $8.51 billion in 2024 at a compound annual growth rate (CAGR) of 8.8%. The growth in the historic period can be attributed to the fusion of gaming entertainment and digital technology, increasing smartphone penetration, growing acceptance of online gambling, growing digitalization, and easier internet access.
The online social casino market size is expected to see strong growth in the next few years. It will grow to $12.11 billion in 2028 at a compound annual growth rate (CAGR) of 9.2%. The growth in the forecast period can be attributed to the rapid expansion of the gaming industry, increasing adoption of online and mobile gaming, the soaring number of social media users, increased investment in mobile gaming advertising, and lessening of regulatory prohibitions. Major trends in the forecast period include increasing integration of AI and machine learning, technological advancement, the rise of social and community features, the introduction of hybrid monetization models, and the integration of gamified elements in non-gaming apps.
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Scope Of Online Social Casino MarketThe Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Online Social Casino Market Overview
Market Drivers –
The increasing adoption of online and mobile gaming is set to propel the casino gaming market’s growth. Online and mobile gaming enables players to engage in video games over the internet via mobile devices, facilitating global competition and interaction across various genres and platforms with real-time features. The rise in online and mobile gaming stems from widespread internet access, the proliferation of mobile devices, and a growing demand for interactive entertainment. Casino gaming capitalizes on this trend by offering virtual versions of traditional casino games like slots, poker, and roulette, accessible on internet-connected devices for casino-style experiences anytime, anywhere. In May 2023, Uswitch Limited noted that the number of online gamers globally reached 3.2 billion in 2022 and is projected to grow to 5.7 billion by 2032. Consequently, the increasing online and mobile gaming adoption is driving the growth of the casino gaming market, with further developments anticipated through 2024 and into 2028.
Market Trends –
Major companies operating in the online casino game market are focused on developing innovative products, such as online social casino platforms, to enhance user engagement, provide immersive gaming experiences, and leverage social interaction features for increased player retention and growth. Online social casino platforms are digital environments where users can play casino-style games, such as slots, poker, and roulette, through social networking sites or dedicated apps without real money betting. For instance, in June 2024, Bally’s Corporation, a US-based gambling company, partnered with Ruby Seven Studios Inc, an Indian-based software company, and launched Bally Play, an online social casino game that can be played for free. The platform emphasizes social connectivity with interactive elements such as leaderboards, in-game chat, and friend challenges, fostering a vibrant gaming community. It also includes customizable avatars and virtual currency to enhance the player experience. It integrates special events and tournaments, allowing players to compete for rewards and enjoy exclusive promotions.
The online social casino market covered in this report is segmented –
1) By Product: Social Casino Gaming Apps, Social Casino Websites, Virtual Currency Casinos
2) By Game Type: Slots, Poker, Table Games, Bingo
3) By Application: Casual Gaming, Social Networking, Digital Entertainment
4) By End User: Individuals, Corporate
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Regional Insights –
North America was the largest region in the online social casino market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the online social casino market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies in the market are Tencent Holdings Ltd, Caesars Entertainment Corporation, Flutter Entertainment plc, International Game Technology, Aristocrat Leisure, Zynga Inc., Playtika Holdings Corp., Scientific Games Corporation, 888 Holdings PLC, Everi Holdings Inc., DoubleU Games Co. Ltd., PlayAGS Inc., Playstudios Inc., Big Fish Games Inc., TCS John Huxley Ltd., Ruby Seven Studios, KamaGames Ltd., Creatiosoft Solutions Pvt. Ltd., AMATIC Industries GmbH, Tap Slots
Table of Contents
1. Executive Summary
2. Online Social Casino Market Characteristics
3. Online Social Casino Market Trends And Strategies
4. Online Social Casino Market – Macro Economic Scenario
5. Global Online Social Casino Market Size and Growth
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32. Global Online Social Casino Market Competitive Benchmarking
33. Global Online Social Casino Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Online Social Casino Market
35. Online Social Casino Market Future Outlook and Potential Analysis
36. Appendix
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