Europe Lottery Software Market Anticipated to Reach USD 1,158.4 Million by 2027

According to the recent market study published by Growth Market Reports (GMR), titled, “Europe Lottery Software Market by Type, and Application: Size, Share, Trends, and Opportunity Analysis, 2019-2027”, the market was valued at USD 782.7 Million in 2019 and is anticipated to grow at a CAGR of 5.6% in the near future.

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The lottery software finds it general application either to forecast future results based on past outcomes or utilizes all sorts of filtering techniques to exclude combinations that are less likely to win. Many software combine both of these functions. Lottery software can include other applications such as for managing a lottery syndicate or wheeling or for generating numbers. The basic feature of lottery software for syndicate management application is aiding its user to enter all the syndicate members and their chosen numbers into the database. The increasing customer inclination towards the online lotteries and subscriptions through apps is driving growth of the lottery software market.

The Europe lottery software market has been segmented on the basis of types, and application. In terms of types, the market is segmented into on premise and cloud based. In terms of application the market is categorized into, personal use, enterprise and others.

In 2020, the Europe lottery software market is anticipated to witness sluggish pace in growth due to closing of enterprises which have impeded the B2B demand of lottery software in 2020. However, the lockdown and restriction on social gathering in Europe has increased customers focus on online lottery and casinos, which in turn, is supporting the growth of the cloud based segment of the lottery software market. Domestic players in the lottery software market in Europe have witnessed a significant growth due to increasing prevalence for small prizes lotteries in 2020. The active use of digital marketing by lottery software market players is one of the primary factors significantly boosting the market in 2020. Furthermore, online presence and apps where one can be involved in lottery purchases and subscriptions are becoming the customer preferences which are one of the key drivers for the market in current times in 2020.

As per GMR industry analyst ‘Akshay Udavant’, “The Europe lottery software market is anticipated to grow at a moderate pace in the near future, 2020-2027, attributed to the rising popularity toward gambling activities and increase in smartphone penetration in the region. For example, Europe has faced significant smartphone penetration with Germany and the UK, being among the leading companies. The number of smartphone users in Germany and the UK accounted for 65.0 million and 53.2 million users, respectively in 2019. Increase in smartphone based applications, resulting in a wider reach, propels the lottery software market. Moreover, the introduction of block chain and artificial intelligence technologies in lottery software is expected to create substantial growth opportunities in the Europe lottery software market. However, data security concerns and fraudulent activities in the gambling sector are expected to hinder the lottery software market in Europe.

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Key Takeaways from the Study:

• UK holds a prominent share of the market among other countries. Moreover, the growth of the market in the UK is majorly attributed to a high internet penetration rate as well as the presence of large number of individuals influenced towards gambling activities, which contributes for the growth of the segment.
• The on-premise segment is expected grow at a substantial pace owing to its ability to provide a better control over the data. Additionally, on-premise improved data security and privacy, minimizing high degree of data related risks associated with cloud-based software drives the segment growth.
• The personal use segment is expected to grow at a rapid pace during the forecast period. The growth of the personal use segment is attributed to growing online activities among individuals due to the outbreak of COVID-19, which has resulted in implementation of lockdown in various countries.

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Report Scope:

Target Audience:

• Supply-side: Lottery software developers, software outsourcing companies, primary respondents, and distributors and marketing companies
• Demand Side: Casinos, Lottery Event Organizers, Agents and others
• Regulatory Side: Concerned government authorities, commercial research & development (R&D) institutions, and other regulatory bodies

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Associations and Industry Bodies:

• World Lottery Association
• The European Lotteries
• EuroJackpot
• European Commission
• European Lotto Betting Association
• World Trade Organization

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