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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.
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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.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
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.
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Type
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
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