Independent research specialists Technavio has published the conclusions of its newest UK gaming industry study, covering the interval 2018 into 2022 and forecasting the compound annual growth rate (CAGR) will exceed 5 percent over the period.
One of the important factors driving growth is the increased adoption of online platforms for gaming,the report notes. The online gaming sector in the united kingdom has been witnessing substantial growth over the past couple of years, and in 2017, the online gaming segment accounted for over 35% of the entire national gaming market. The segment witnessed an incremental growth of two percent between 2015 and 2017.
During the forecast period, the UK regulatory bodies expect the expansion to continue. Online gaming and its continuing expansion at the expense of conventional gaming operations will induce the gaming market in the united kingdom during the prediction phase, Technavio analysts claim, highlighting the growing significance of artificial intelligence.
“AI can be used to ascertain consumer behavior. This would enable websites to better expect gamers’ needs and discover what compels them to play, stop, or change matches the most. AI is employed in the gaming industry to improve customer support. Advanced bots which are replacing customer support representatives can access and analyse knowledge about a client’s specific playing habits,” states that a senior analyst at Technavio.
The united kingdom gaming business is well known for its execution of emerging consumer trends and innovative technologies, and the best operators have eased a smooth shift in the physical to the electronic world.
The report sections the industry into these types, betting, lottery, and casino. The betting segment held the largest market share in 2017, accounting for almost 45 percent of the market and this is expected to increase more than 3% by 2022.
