The Europe Lottery Software Market was valued at USD 782.7 Million in 2019 and is projected to reach USD 1,158.4 Million by 2027, expanding at a CAGR of 5.6% during the forecast period. Lottery software attempts to predict numbers that are more likely to be drawn by analyzing patterns for combinations of numbers that are more likely to be picked. Moreover, Lottery software is used for entry management application which is similar to syndicate management. The software helps the user in easing up the managing of entries by inputting the chosen combination, amending them, and outputting them for purchase of tickets.
Market Dynamics
Gambling activities have increased substantially in Europe. The GGR in Italy and the UK is the highest within the region, and is followed by Germany, France, and Spain. GGR represents approximately 0.5% of the GDP on average. In Europe, the overall online GGR is expected to be around USD 27.7 billion by the end of 2020 and is generated through sports betting, online casino, and online lottery. The online gambling and demographic statistics concludes that more than 17% of the population in the UK are engaged in online gambling, thus resulting in an overall revenue of approximately USD 6.8 billion from the sector. This rising popularity among a huge population base in several countries in the region is expected to propel the demand for lottery software in the online gambling industry.
Moreover, In terms of economic significance, Europe is widely regarded as a ‘single state’ and is to some degree controlled by legislation adopted by the European Union. However, regulations regarding online gambling EU countries are characterized by diverse regulatory frameworks. Governments in several countries are favoring gambling to some extent, as the revenue generated by the sector is used in non-profit programs and for charity purposes. This has resulted in complete or partial legalization of gambling activities in several countries in the region, ultimately influencing a large population base to adopt lottery and gambling activities. This is expected to boost the demand for lottery software in the region during the forecast period.
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Segmental Outlook
On the basis of types, the market is bifurcated into on-premise and cloud-based. The cloud-based segment accounts for a major share of the market; however, the on-premise segment is anticipated to expand at a high CAGR during the forecast period. The growth of the on-premise segment is attributed to the improved data security and information control provided by the platform. In this framework, businesses hold all their data and monitor what happens to it. Businesses in highly regulated industries, have additional concerns related to privacy are more likely to hesitate to spring into the cloud-based platform. The pertaining concerns of privacy and security in cloud-based infrastructures are a major factor resulting in the expansion of on-premise segment, in terms of value, during the forecast period.
Country Outlook
On the basis of countries, the Europe lottery software market is classified as Germany, France, Italy, the UK, Spain, Russia, and Rest of Europe. The UK accounted for a significant share of the market; however, the market in Germany is expected to grow at a substantial CAGR during the forecast period. The UK holds a large share of the market due to the presence of several established players in the region that are engaged in providing lottery software. Additionally, an increase in preference for gambling among a large population base in the country is driving the market in the UK.
The market in Germany is projected to expand at a significant CAGR and this trend is projected to continue during the forecast period due to large revenue generation from lottery games for non-profit programs, which is resulting in easing up of regulations by the government for gambling operations. This, in turn, is expected to boost the consumer spending on several lottery games, thus increasing the demand for lottery software in Germany. The growth of the lottery software market in Italy is majorly attributed to the substantial advancements in the ICT sector in the country with an annual growth rate of approximately 2.7% between 2017 and 2020. In terms of online gambling, Italy ranks second in Europe with a 25% rise in gambling operator revenue in recent years.
Competitive Landscape
- Key players in the market include Magayo, Bonobo PLC, Lottotech, Carn Software Ltd., Kootac, Inbet, LottoNetix, Scientific Games Corporation , International Game Technology Plc, and Zeal Network SE
- These companies are considered as key players in Europe lottery software market based on their revenue, research development (R&D) activities, regional presence, and innovative services/solutions offering.
- Key players in the market are engaged in acquiring regional players to increase their sales across Europe.
- Company can withstand competition in the lottery software market by adopting the latest technologies, increasing consumer base through promotional activities, and through significant partnership with marketing companies.
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