Global Gaming Market Set For Significant Growth Over Next Five Years
The global gaming market could rake in as much as $151 billion in 2012 and as much as $180 billion by 2015. This, according to a new report from Price Waterhouse Cooper (PWC) titled Global Gaming Outlook: The casino and online gaming market to 2015. This new report takes a close look at the current status of the gaming industry and makes some bold predictions for its future, especially in the fast growing Asian markets.
Continued Gaming Growth
Overall PWC paints a pretty rosy picture for the gaming industry in the years ahead. They’re predicting that total global gaming revenues could see a major revenue leap in the next few years. According to PWC, the entire gaming market is due for an increase of around 9.2 percent over the next five years. That would bring industry wide revenues to around $182 billion by 2015. That’s up significantly from the $117.6 billion the industry reported back in 2010.
Asian Gaming Boom
Currently, the U.S. is the biggest market for land based gaming, but that will very likely change in the coming years. Over the next five years, the most significant growth in the gaming market is going to be fueled by Asian countries.
PWC is predicting that the Asian-Pacific market is going to see something like five percent annual growth over the next five years, making it the biggest gaming market on the planet. According to the report, the Asian market is likely to surpass the American market to encompass a full 43 percent of the world’s total gambling spending. (The US market will likely account for around 40 percent of the market by then.)
The coming months and years are also likely to see an increased tolerance of legalized gaming by governments on every corner of the map. An increased need for revenue in the wake of deficits and distaste for raising taxes should also contribute to the increased acceptance of gaming.
PWC also suggests that the worldwide economic slump will lead governments to reassess their views on legalized gambling. Already the US Department of Justice has backed away from its rigorous prosecution of online poker sites and expressed tolerance for most types of online gaming.
In Europe, many countries are struggling with how to juggle online gambling, but are steadily moving towards liberalized regulations. Still, PWC predicts that a less than friendly regulatory environment will slow growth in the Euro Zone to around 2.4 percent annually.
Global Gaming Outlook also offered some insights on other corners of the gaming market that don’t always get a lot of attention.
- South Africa – PWC predicts that gaming in Africa’s economic powerhouse will slow to around 1.9 percent annually over the next few years. That’s big drop from the 3.9 percent growth they saw in 2010.
- Latin America – Despite its huge population, the Latin American gaming market still makes up a very small piece of the global market. PWC thinks that this market will grow at about 8 percent annually until it reaches around $5.6 billion by 2015. Recommended: Latin America Online Gambling Challenges
- Canada – the Great White North should grow at a modest 1.8 percent a year until 2015. Recommended: How To Approach The Canadian Gaming Market
The takeaway for webmasters from Global Gaming Outlook is that the next few years are going to bring continued growth for all types of gaming operations. Clearly the big action is going to be taking place in Asia and that’s where affiliates should be focusing, at least some of, their marketing efforts. But it’s also evident that gaming is growing in just about every market and a focused effort on a particular country that’s liberalizing gaming regulations should pay off handsomely.
Are you preparing for a coming Asian gaming boom? Let us know on our Online Gambling News Forum.