Recreation Industry Overview

The recreation market consists of sales of the use of recreational facilities, and recreational services and related goods by entities (organizations, sole traders and partnerships) that provide recreational services. Recreational activities include taking part in sporting activities and visiting museums, historical sites, zoos and parks and also witnessing spectator sports and events. Gambling except casino hotels can also be considered to be part of recreation market. The recreation market is segmented into amusements; arts and sports. The global recreation market is expected to grow from $1253.24 billion in 2020 to $1425.74 billion in 2021 at a compound annual growth rate (CAGR) of 13.8%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $1916.35 billion in 2025 at a CAGR of 8%. Asia Pacific was the largest region in the global recreation market, accounting for 33% of the market in 2020. North America was the second largest region accounting for 30% of the global market. Africa was the smallest region in the global recreation market. The recreation market growth is aided by stable economic growth forecasted in many developed and developing countries. The International Monetary Fund (IMF) predicts that the global GDP growth will be 3.2% in 2019 and 3.5% in 2020. Recovering commodity prices, after a significant decline in the historic period is further expected to aid the market growth. Developed economies are also expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than the developed markets in the forecast period. For instance, India's GDP is expected to grow at 7.2%, whereas China is forecasted to register GDP growth of 6.0% in 2020 . Stable economic growth is expected to in end user markets, thereby driving the market during forecast period. This continued economic growth is expected to increase investments in the end user markets and be a driver of the recreation market as greater affluence allows consumers to visit recreation centers. The outbreak of the Coronavirus disease (COVID-19) has acted as a massive restraint on the recreation market in 2020 as governments globally imposed lockdowns and restricted domestic and international travel limiting the need for services offered by these establishments. COVID 19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China and spread globally including Western Europe, North America and Asia. Steps by national governments to contain the transmission have resulted in closure of recreational facilities such as amusement parks, museums and casinos with countries entering a state of lockdown and the outbreak is expected to continue to have a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the recreation market will recover from the shock across the forecast period as it is a 'black swan' event and not related to ongoing or fundamental weaknesses in the market or the global economy. Amusement parks are increasingly using virtual and augmented reality technology to provide an immersive experience to customers. Virtual reality is a 3D, computer generated environment which can interact with a person, whereas augmented reality turns an environment into a digital interface by placing virtual objects in the real world. Amusement parks are implementing this technology in rides and theater-based attractions. For instance, Plopsaland De Panne in De Panne, Belgium has a new virtual reality wooden roller coaster called Heidi The Ride, which can reach speeds of more than 43 mph. Amusement park SeaWorld has started operating a new Kraken Virtual Reality Roller Coaster in Orlando. The Weave Breaker coaster brings the reality of jet skiing in an amusement park. Universal Studios have The Walking Dead mazes with augmented reality elements. Major companies in the market include The Walt Disney Company; Las Vegas Sands; Universal Studios; MGM Resorts; Merlin Entertainment Group. The countries covered in the global recreation market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The regions covered in the global recreation market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The global recreation market is segmented - 1) By Type: Amusements, Arts, Sports 2) By Distribution Channel: Supermarkets/Hypermarkets, Convenience Stores, E-Commerce, Others 3) By Nature: Organic, Conventional Subsegments Covered: Amusement Parks, Gambling, Museums, Historical Sites, Zoos, And Parks, Independent Artists And Performing Art Companies, Sports And Arts Promoters, Spectator Sports, Participatory Sports

The arts services market consists of sales of arts services and related goods by entities (organizations, sole traders and partnerships) that operate facilities or provide services for cultural, entertainment and recreational interests such as producing live performances or events and preserving and exhibiting objects of the art-related interests of patrons. Revenues in this market include entry fees to theatres and art galleries and royalties. The arts market is segmented into museums, historical sites, zoos, and parks; independent artists and performing art companies and sports and arts promoters. The global arts market is expected to grow from $347.53 billion in 2020 to $405.05 billion in 2021 at a compound annual growth rate (CAGR) of 16.6%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $552.57 billion in 2025 at a CAGR of 8%. Asia Pacific was the largest region in the global arts market, accounting for 31% of the market in 2020. Western Europe was the second largest region accounting for 31% of the global market. Africa was the smallest region in the global arts market. Art organizers are using augmented reality (AR) technology to create real world experience for customers. Augmented reality is the integration of digital information with the user's environment in real time. Museums and zoos are now using augmented reality as a tool to educate and entertain the audience by creating a visual tour guide and displaying 3D content in a real-world camera view. For instance, Cleveland Museum of Art is using augmented reality technology to let users interact and access the most current and comprehensive information about every piece of artwork in the museum. In Acropolis Museum in Athens, Greece, the team used AR technology to bring a collection of architectural and sculptural remains to life . Independent formats are offering new platforms for new talent to promote their music. Since music recording companies are often averse to taking risks with new talent, artists are making use of social media and music streaming platforms and are taking charge of their own personal marketing and distribution. Social media platforms have created a new means of connectivity and marketing opportunity for the artists. For instance, iTunes, Spotify, Pandora, and YouTube are some platforms widely being used by music artists to promote their work. Major companies in the market include Smithsonian Institution; Cirque du Soleil; The Paris Opera Ballet; WWE; The Metropolitan Opera Association. The countries covered in the global arts market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The regions covered in the global arts market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The global arts market is segmented - 1) By Type: Museums, Historical Sites, Zoos, And Parks, Independent Artists And Performing Art Companies, Sports And Arts Promoters Subsegments Covered: Museums, Historical Sites, Zoos & Botanical Gardens, Nature Parks and Other Similar Institutions, Visual Arts, Performing Arts, Sports Promoters, Arts Promoters

The museums, historical sites, zoos, and parks services market consists of sales of museum, historical site, zoo, and park services and related goods by entities (organizations, sole traders and partnerships) that conserve and exhibit objects of historical value, archaeological sites, live plant and animal life displays, and natural areas or settings. The museums, historical sites, zoos, and parks market is segmented into museums; historical sites; zoos & botanical gardens and nature parks and other similar institutions. The global museums, historical sites, zoos, and parks market is expected to grow from $41.84 billion in 2020 to $48.53 billion in 2021 at a compound annual growth rate (CAGR) of 16%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $63.84 billion in 2025 at a CAGR of 7%. North America was the largest region in the global museums, historical sites, zoos, and parks market, accounting for 33% of the market in 2020. Asia Pacific was the second largest region accounting for 29% of the global market. Africa was the smallest region in the global museums, historical sites, zoos, and parks market. Art organizers, museums and zoos are using augmented reality (AR) technology to create real world experience for customers. Augmented reality is the integration of digital information with the user’s environment in real time. Museums and zoos are now using augmented reality as a tool to educate and entertain the audience by creating a visual tour guide and displaying 3D content in a real-world camera view. For instance, Cleveland Museum of Art is using augmented reality technology to let users interact and access the most current and comprehensive information about every piece of artwork in the museum. In Acropolis Museum in Athens, Greece, the team used AR technology to bring a collection of architectural and sculptural remains to life. Prerecorded audio guides are being widely used in museums and art galleries as a replacement to conventional guides allowing the visitors interact with additional, enhanced and unbiased information. Visitors are provided with multimedia content transmitters such as headsets, earphones or headphones and audio guides with pre-recorded audio files in the language opted. These audio guides act as additional revenue streams for the organizers and are available in different languages and translated versions that can be used anytime by a large number of people. These museum audio guides help to enhance visitor engagement, improve accessibility, and provide additional and accurate information aiming to educate visitors with unbiased characteristics. Louvre Museum, France, with its 8 million visitors every year has introduced audio guides to interact content about the pieces of art. Other museums offering visitors with prerecorded audio guides are British Museum in England, San Francisco Museum of Modern Art, and Auckland War Memorial Museum in New Zealand. The countries covered in the global museums, historical sites, zoos, and parks market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam. The regions covered in the global museums, historical sites, zoos, and parks market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The major players covered in the global museums, historical sites, zoos, and parks market are Krusger, Zoological Garden of Berlin, The American Museum of Natural History, National Museum of China, British Museum. The global museums, historical sites, zoos, and parks market is segmented - 1) By Type: Museums, Historical Sites, Zoos & Botanical Gardens, Nature Parks and Other Similar Institutions 2) By Revenue Source: Tickets, Food and Beverages, Others 3) By Visitors' Age Group: Below 25 Years, 25 to 39 Years, 40 to 59 Years, 60 to 74 Years, 75 Years and Above 4) By Visitors' Gender: Male, Female

The independent artists and performing art companies services market consists of sales of independent artists and performing art companies’ services and related goods by entities (organizations, sole traders and partnerships) that are involved in performing in artistic productions, creating artistic and cultural works, and providing technical expertise necessary for these productions. The providers also include athletes and others that endorse products, including independent actors, authors, cameramen, choreographers, costume designers, dancers, music directors, speakers, and writers. The independent artists and performing art companies market is segmented into visual arts and performing arts. The global independent artists and performing art companies market is expected to grow from $156.04 billion in 2020 to $181.39 billion in 2021 at a compound annual growth rate (CAGR) of 16.2%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $244.6 billion in 2025 at a CAGR of 8%. Asia Pacific was the largest region in the global independent artists and performing art companies market, accounting for 32% of the market in 2020. Western Europe was the second largest region accounting for 32% of the global market. Africa was the smallest region in the global independent artists and performing art companies market. Performing arts companies are partnering with military and veterans organizations, urban equity programs, and businesses to address social issues. These partnerships allows them to achieve their mutual goals of building audiences, cutting costs and addressing homelessness, hunger, and other social issues. For instance, in Miami, design, tourism and business leaders, and zoo management collaborated through the Miami Dade County Department of Cultural Affairs to change the course of the addressed issues through government policies. The countries covered in the global independent artists and performing art companies market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam. The regions covered in the global independent artists and performing art companies market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The major players covered in the global independent artists and performing art companies market are Lyric Opera of Chicago, AMC Entertainment Holdings Inc, Regal Entertainment Group, Carmike Cinemas Inc, The Metropolitan Opera Association. The global independent artists and performing art companies market is segmented - 1) By Type: Performing Arts, Visual Arts Subsegments Covered: Theater Companies And Dinner Theaters, Dance Companies, Musical Groups And Artists, Other Performing Arts Companies

The sports and arts promoters services market consists of sales of sports and arts promoters’ services and related goods by entities (organizations, sole traders and partnerships) that organize, promote, and manage live performing arts productions, sports events and other events such as state fairs, county fairs, agricultural fairs, concerts, and festivals; and manage and provide the staff to operate arenas, stadiums, theaters or other related facilities for rent to other promoters. Customers for sports and arts promoters include independent artists and performing arts companies. The sports and arts promoters market is segmented into sports promoters and arts promoters. The global sports and arts promoters market is expected to grow from $149.64 billion in 2020 to $175.13 billion in 2021 at a compound annual growth rate (CAGR) of 17%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $244.12 billion in 2025 at a CAGR of 9%. Western Europe was the largest region in the global sports and arts promoters market, accounting for 32% of the market in 2020. Asia Pacific was the second largest region accounting for 32% of the global market. Africa was the smallest region in the global sports and arts promoters market. Sports organizers are implementing virtual reality technology to improve the spectator experience in a sporting event. Virtual reality technology generates images, sounds and other sensations that simulates a physical presence in an imaginary environment. Clubs and teams are experimenting with simulated and 360-degree environments to enhance the match viewing experience of the fans by allowing them to have a virtual walkthrough of the stadium or the race track and view the match at different angles. For instance, NBA game between the Sacramento Kings and San Antonio Spurs was broadcasted in VR. The viewers could watch the action from a myriad of angles, including underneath the basket. NASCAR has created an interactive fan area at the race tracks with the implementation of virtual reality. Sports and arts organizers are implementing mobile ticketing to provide hassle free ticket purchase experience. Mobile ticketing is the process where customers can buy and validate the tickets using mobile phones. Event organizers production and distribution costs associated with traditional paper-based ticketing channels is eliminated with the implementation of mobile ticketing. Apart from this, the data exchanged digitally through ticket transactions enables sports organizers to learn more about fans and generate insights to formulate marketing strategies from the database. For instance, Barcelona implemented mobile ticketing and eliminated paper tickets by introducing a new system that allows fans to scan a bar-code on their phones gain access to matches. Pocono Raceway launched a mobile ticket delivery system that allows fans to have their ticket delivered to their mobile device and have their ticket scanned at the gate directly from their mobile device. The countries covered in the global sports and arts promoters market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam. The regions covered in the global sports and arts promoters market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The major players covered in the global sports and arts promoters market are Live Nation Entertainment Inc, Red Frog Events LLC, Premier Exhibitions Inc, NightCulture Inc. The global sports and arts promoters market is segmented - 1) By Type: Sports Promoters, Arts Promoters 2) By End-Users: Individuals, Companies

The participatory sports market consists of sales of participatory sports services and related goods by entities (organizations, sole traders and partnerships) that operate golf courses and country clubs, skiing facilities, marinas, fitness and recreational sports centers, and bowling centers. Participatory sport revenues come from participants and player attendants. This market includes sales from entry fees, merchandise and other related goods and services. The participatory sports market is segmented into golf courses and country clubs; skiing facilities; marinas; fitness and recreational sports centers; bowling centers and other participatory sports. The global participatory sports market is expected to grow from $279.8 billion in 2020 to $308.17 billion in 2021 at a compound annual growth rate (CAGR) of 10.1%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $416.45 billion in 2025 at a CAGR of 8%. North America was the largest region in the global participatory sports market, accounting for 35% of the market in 2020. Asia Pacific was the second largest region accounting for 30% of the global market. Africa was the smallest region in the global participatory sports market. Fitness and health clubs are offering instructor-led group fitness classes combining workout formats. These combined formats mix traditional exercises to make exercising fun for people. Popular combined fitness formats include cycling and boxing, treadmill running and strength training, rowing and body weight training, battle rope training and high intensity interval training (HIIT). This enables fitness trainers to effectively engage members during the exercise. These fitness formats enhance the workout experience and produce better results than traditional exercises. Hashing, ZUU, Clubbercise, Gorilla Circus and Zumba step are common combined fitness formats. Gyms and the fitness clubs have started focusing on different age groups keeping the needs and preferences of consumers. The age groups between 20-65 years have different physical fitness needs. The younger age groups need intense muscle building exercises such as pull-ups, dumbbell bench press, and barbell curls, while the older age groups need high impact traditional cardio workouts, and low impact fitness classes such as yoga and tai chi. The gyms and the fitness clubs have started to offer range of fitness programs to attract young as well as the older consumers. For instance, in April 2019, 24 Hour Fitness, a US-based fitness club serving 17 US states, launched the fitness Friday program in all fitness clubs nationwide to encourage senior age groups for taking up routine exercises. The program includes active aging classes and workshops. The countries covered in the global participatory sports market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam. The regions covered in the global participatory sports market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The major players covered in the global participatory sports market are Brunswick Bowling, Ebonite, Murrey International, QUBICAAMF, 24 Hour Fitness. The global participatory sports market is segmented - 1) By Type: Golf Courses And Country Clubs, Skiing Facilities, Marinas, Fitness And Recreational Sports Centers, Bowling Centers, Other Participatory Sports 2) By Revenue Source: Membership, Merchandising, Others 3) By Ownership: Chained, Standalone

The amusement parks and arcades market consists of sales of amusement parks and arcades entertainments and related goods by entities (organizations, sole traders and partnerships) that operate amusement parks and arcades. The amusement parks and arcades market also includes sales of amusement arcades such as family fun centres, pinball arcades and amusement device parlors. This market includes sales of entry fees and ticket sales for rides, games, food and beverages, merchandise goods, and hotels and resorts. However, this market excludes sales of exclusive restaurants such as fast food chains operating within the amusement parks. Amusement and theme park companies operate mechanical rides, water rides, water games (includes both spectator sports and crowd engagement games), events, games, shows, themed exhibits, refreshment stands and other visitor attractions for entertainment. The amusement parks market is segmented into theme parks; water parks and amusement arcades. The global amusement parks market is expected to grow from $51.67 billion in 2020 to $63.89 billion in 2021 at a compound annual growth rate (CAGR) of 23.7%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $89.17 billion in 2025 at a CAGR of 9%. North America was the largest region in the global amusement parks market, accounting for 33% of the market in 2020. Asia Pacific was the second largest region accounting for 30% of the global market. Africa was the smallest region in the global amusement parks market. Increasing Use Of Social Media: Increasing use of social media and access to mass media is positively influencing the amusement parks market. Visitors in amusements facilities such as amusement parks like sharing their experiences, photographs and videos on social media platforms which helps other people know the experiences offered by the amusement parks. According to a study conducted by Visa, a cards and payments company, 73% of Asians check-in online while on a holiday and as many as 71% people share their experiences on social media sites. Social media is the most effective marketing tool for amusements parks to acquire new customers. Extensive use of social media is expected to drive the amusement parks market going forward. Coronavirus Pandemic: The outbreak of the Coronavirus disease (COVID-19) has acted as a massive restraint on the amusement parks market in 2020 as governments globally imposed lockdowns and restricted domestic and international travel limiting the need for services offered by these establishments. COVID 19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People's Republic of China and spread globally including Western Europe, North America and Asia. Steps by national governments to contain the transmission have resulted in closure of recreational facilities such as amusement parks with countries entering a state of lockdown and the outbreak is expected to continue to have a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the amusement parks market will recover from the shock across the forecast period as it is a 'black swan' event and not related to ongoing or fundamental weaknesses in the market or the global economy. Amusement parks are increasingly using virtual and augmented reality technology to enhance customer experience. Virtual reality is a 3D, computer generated environment which can interact with a person, whereas augmented reality turns an environment into a digital interface by placing virtual objects in the real world. Amusement parks are implementing this technology in rides and theater-based attractions. For instance, Plopsaland De Panne in De Panne, Belgium has a new virtual reality wooden roller coaster called Heidi the Ride, which can reach speeds of more than 43 mph. Amusement park SeaWorld has started operating a new Kraken Virtual Reality Roller Coaster in Orlando. The Weave Breaker coaster brings the reality of jet skiing in an amusement park. Universal Studios have The Walking Dead mazes with augmented reality elements. The countries covered in the global amusement parks market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam. The regions covered in the global amusement parks market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The major players covered in the global amusement parks market are Disney Parks and Resorts, Merlin Entertainment, Universal Studios, Six Flags Entertainment, Oct parks China. The global amusement parks market is segmented - 1) By Type: Theme Parks, Water Parks, Amusement Arcades 2) By Revenue Source: Tickets, Merchandise, Food and Beverages, Hotels & Resorts, Others 3) By Age Group: Below 25 Years, 25 to 39 Years, 40 to 59 Years, 60 to 74 Years, 75 Years and Above 4) By Visitors' Gender: Male, Female

The gambling market consists of sales of gambling services and related goods by entities (organizations, sole traders and partnerships) that operate gambling facilities, such as casinos, bingo halls, video gaming terminals, lotteries, and off-track sports betting. Gambling is the act of wagering money or something of value on an event with an uncertain outcome that is not under gambler control, with an intent of winning money. Bingo parlors, coin-operated gambling device concession operators, bookmakers, lottery ticket sales agents, and card rooms are also included in this market. The gambling market also includes sales of gambling services and related goods by entities that operate casino hotels. The gambling market is segmented into casinos; lotteries; sports betting and other gambling. The global gambling market is expected to grow from $465.76 billion in 2020 to $516.03 billion in 2021 at a compound annual growth rate (CAGR) of 10.8%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $674.7 billion in 2025 at a CAGR of 7%. Asia Pacific was the largest region in the global gambling market, accounting for 38% of the market in 2020. North America was the second largest region accounting for 29% of the global market. Middle East was the smallest region in the global gambling market. Changing Consumer Gambling Habits: The demand for gambling is expected to be driven by the changing gambling habits of consumers. The increasing popularity of gambling apps and social gambling will propel the growth of the market going forward. The global social casino market is expected to reach $4.64 billion by 2020, growing at a CAGR of 5%. The increasing adoption of mobile devices and increasing internet penetration will drive the demand for online gambling, driving market growth. Coronavirus Pandemic: The outbreak of the Coronavirus disease (COVID-19) has acted as a massive restraint on the gambling market in 2020 as governments globally imposed lockdowns and restricted domestic and international travel limiting the need for services offered by these establishments. COVID 19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People's Republic of China and spread globally including Western Europe, North America and Asia. Steps by national governments to contain the transmission have resulted in closure of recreational facilities such as casinos with countries entering a state of lockdown and the outbreak is expected to continue to have a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the gambling market will recover from the shock across the forecast period as it is a 'black swan' event and not related to ongoing or fundamental weaknesses in the market or the global economy. Branded slots are increasingly becoming popular in the gambling industry. Branded slots are licensed online casino games built around universally popular subjects such as movies, TV shows, music or books. Brand loyalty draws the customers towards trying slot games revolving around their favorite characters. Branded online slot games attract casual bettors, even the ones with little experience and interest in slot machines, as they create a connection with the players due to their familiarity with characters on the slots, increasing the traffic on the slot machines. Branded slots based on Game of Thrones, Westworld, Batman, and Jurassic Park are some of the most popular branded slot games. The countries covered in the global gambling market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam. The regions covered in the global gambling market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The major players covered in the global gambling market are William Hill, MGM Resorts, Las Vegas Sands, Paddy Power, Betfair Entertainment. The global gambling market is segmented - 1) By Type: Casino, Lotteries, Sports Betting, Other Gambling 2) By Channel Type: Offline, Online, Virtual Reality (VR)