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Online Gambling Market Size to Grow USD 68310 Million by 2030 at a CAGR of 11.8% | Valuates Reports

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BANGALORE, India, July 26, 2024 /PRNewswire/ — Global Online Gambling Market is Segmented by Type (Sports Gambling, Online Gambling Games, Stem Cell Media, Poker Games, Casino Games, Bingo), by Application (18-29 years old, 30-39 years old, 40-49 years old): Global Opportunity Analysis and Industry Forecast, 2024-2030.

The global Online Gambling market was valued at USD 31010 Million in 2023 and is anticipated to reach USD 68310 Million by 2030, witnessing a CAGR of 11.8% during the forecast period 2024-2030.

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Major Factors Driving the Growth of Online Gambling Market:

The industry for online gambling is expanding rapidly as a result of factors including the growing usage of smartphones, the legality and regulation of online betting in certain jurisdictions, and rising internet penetration. Online gambling has become quite popular among consumers because of the ease with which it is possible to access gaming platforms at any time and from any location. Further increasing market attractiveness are better user experiences, increased security protocols, and an extensive range of gaming possibilities, including as poker, casino games, and sports betting. The market is developed and fiercely competitive in areas like Europe, where regulatory frameworks are well-established, while North America is expanding quickly as a result of recent US legalization initiatives. Furthermore, the incorporation of cutting-edge technologies like blockchain and AI is increasing user engagement and trust, which is propelling additional growth.

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TRENDS INFLUENCING THE GROWTH OF THE INSECT CELL CULTURE MARKET

The expansion of the sector has been significantly aided by the legalization and regulation of online gaming in several jurisdictions. The potential economic advantages of a regulated online gambling sector, including higher tax revenues and the generation of jobs, are being recognized by governments and regulatory authorities more and more. Legalization gives consumers more trust and encourages participation by providing a framework for ethical and safe gaming operations. Significant market expansion has been observed in regions like Europe, North America, and portions of Asia after rules that are favorable to the industry were put in place. The industry is anticipated to grow as more nations legalize online gambling, propelled by the creation of safe and regulated gaming environments.

Because of its wide appeal and the thrill it provides, sports betting is one of the main drivers of the online gambling sector. The ease of use and accessibility of internet platforms have greatly increased sports betting appeal. Millions of bettors attend major athletic events like the World Cup, Super Bowl, and other regional leagues, which fuels the growth of online gambling. Incorporating live betting and real-time updates improves user engagement, and customers are further drawn in by incentives and promotional offers. Internet gambling is becoming a significant industry area as a result of growing consumer interest in sports betting and the ease of use of internet platforms.

The popularity of online casino games, such as roulette, blackjack, and poker, has greatly boosted the market for online gambling. These games’ accessibility and variety on internet platforms draw a wide range of players. The excitement of real casinos is combined with the ease of playing from any location with casino games. Their appeal has grown even more since live dealer games, which mimic the atmosphere of a real casino, are now available. Players are also kept interested by the use of eye-catching visuals, engaging gameplay, and alluring bonuses and promotions. One of the main factors propelling the growth of the online gambling industry is the increasing demand for online casino games.

The 30- to 39-year-old age group is a major factor in the expansion of the internet gambling industry. This age group is more likely to participate in online gambling activities since they usually have more spare cash and are more tech-savvy. Through a variety of games and betting options, online gambling sites satisfy their need for excitement and amusement. Their hectic lifestyles are well-suited to the ease with which these platforms may be accessed through computers and cellphones. Furthermore, this age group is successfully drawn in by tailored incentives and focused marketing strategies. The noteworthy involvement of individuals aged 30-39 in virtual gambling activities serves as a primary catalyst for industry expansion.

The market for internet gambling is expanding as a result of shifting social perceptions on gaming. The perception of gambling as a socially acceptable pastime is changing from that of a prohibited behavior. Younger generations are especially exhibiting this change in attitude, since they are more accepting of internet gambling as a recreational pastime. This shift has also been influenced by the normalization of gambling through popular culture, celebrity and sports team endorsements, and sponsorships. The number of individuals playing online games is rising as gambling becomes more socially acceptable, which is fueling industry growth.

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ONLINE GAMBLING MARKET SHARE ANALYSIS

Due to the growing popularity of online entertainment and the expanding acceptance of digital technology, the Asia-Pacific area has a lot of promise. Comprehending the aforementioned regional dynamics is crucial in order to grasp the whole growth trajectory of the online gambling industry. This underscores the need of customized approaches to effectively tackle certain regional possibilities and obstacles.

The market is well-established and expanding throughout Europe as a result of favorable legislation and widespread internet use. North America is growing quickly; this is especially true in the US, where new laws are creating more chances.

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Key Players:

Bet365Kindred GroupGVC HoldingsFlutter EntertainmentWilliam HillPinnacleThe Stars GroupBetvictorBetsson ABGamesys888 HoldingsBet-at-home.comIntertopsBetwayBetfredInterwettenSBOBETSportechEGBBetOnline

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DISCOVER MORE INSIGHTS: EXPLORE SIMILAR REPORTS!

–  Prepaid Cards for Online Gambling Market

–  Online Gambling Game Software market was valued at USD 69580 Million in 2023 and is anticipated to reach USD 75190 Million by 2030, witnessing a CAGR of 1.1% during the forecast period 2024-2030.

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–  Online Betting Market was estimated to be worth USD 94520 Million in 2023 and is forecast to a readjusted size of USD 171750 Million by 2030 with a CAGR of 8.8% during the forecast period 2024-2030.

–  Esport & Sport Gambling Market

–  Gambling & Betting market was valued at USD 254630 Million in 2023 and is anticipated to reach USD 352530 Million by 2030, witnessing a CAGR of 4.7% during the forecast period 2024-2030.

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–  Global Gaming Accessories market is expected to reach to USD 12490 Million in 2023, with a positive growth of %, compared with USD 11350 Million in 2022 which suffered dual impact of COVID-19 and Russia-Ukraine War in the year. Backed with the increasing demand from downstream industries, Gaming Accessories industry is evaluated to reach USD 23620 Million in 2029. The CAGR will be 11.2% during 2023 to 2029.

–  The global market for 2D Fighting Games Market was estimated to be worth USD 1098.3 Million in 2023 and is forecast to a readjusted size of USD 1405.5 Million by 2030 with a CAGR of 4.1% during the forecast period 2024-2030.

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–  The global Video Game Accessories market was valued at USD 1325 Million in 2023 and is anticipated to reach USD 2037.2 Million by 2030, witnessing a CAGR of 6.3% during the forecast period 2024-2030.

–  The global Digital Game Distribution Platform market was valued at USD 1006 Million in 2023 and is anticipated to reach USD 1341.4 Million by 2030, witnessing a CAGR of 4.2% during the forecast period 2024-2030.

–  The global Gaming Peripherals market size is projected to reach USD 4228.9 Million by 2027, from USD 2897 Million in 2020, at a CAGR of 5.5% during 2021-2027.

–  Game Development Tools Market

–  The global Video Gaming Rental Service market was valued at USD 1759 Million in 2023 and is anticipated to reach USD 2591 Million by 2030, witnessing a CAGR of 6.2% during the forecast period 2024-2030.

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–  The global Virtual Reality Gaming Accessories market was valued at USD 227 Million in 2023 and is anticipated to reach USD 328.5 Million by 2030, witnessing a CAGR of 5.5% during the forecast period 2024-2030.

–  Mobile and Handheld Gaming Market

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–  Global Roguelike Game market is projected to reach USD 57,336 Million in 2030, increasing from USD 23,153 Million in 2023, with a CAGR of 12.3% during the period of 2024 to 2030.

–  The global MMO Games market was valued at USD 11400 Million in 2023 and is anticipated to reach USD 20360 Million by 2030, witnessing a CAGR of 8.2% during the forecast period 2024-2030.

–  Legal Lotteries Market

–  The global Online Football Sports Betting market was valued at USD 191 Million in 2023 and is anticipated to reach USD 257.1 Million by 2030, witnessing a CAGR of 4.1% during the forecast period 2024-2030.

–  The global Online Ball Game Betting market was valued at USD 251 Million in 2023 and is anticipated to reach USD 325.2 Million by 2030, witnessing a CAGR of 3.8% during the forecast period 2024-2030.

–  Lottery Draw Games Market

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Technology

Deye’s Micro Hybrid ESS: A New Era of Compact, Efficient Power

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Suitable for on-grid, off-grid and portable use96.5% DC-AC conversion efficiency1000W rated power AC charge/discharge1600W high-power PV input4ms on-grid/off-grid switch

NINGBO, China, Jan. 12, 2025 /PRNewswire/ — At Deye, we believe in redefining the way customers experience energy—whether customers are seeking reliable backup power for their home or exploring the great outdoors. Today, we’re proud to introduce the Deye Micro Hybrid Energy Storage System, AE-F(S)2.0-2H2, a game-changing innovation that brings intelligent, flexible, and portable energy solutions to customers’ fingertips.

The Deye Micro Hybrid ESS is an all-in-one system that combines an energy storage micro-inverter, battery modules, and a Battery Management System (BMS) into one compact unit. Designed with the modern lifestyle in mind, this system offers seamless integration with customers’ home and outdoor activities, offering intelligent monitoring and power management 24/7 via Lora smart communication and an easy-to-use APP monitoring interface. With 6,000 cycle life, the system is designed for a 10-year service life, and also comes with a 5-year warranty for added assurance.

1. Plug-and-Play Simplicity

With its minimalist design, the Micro Hybrid ESS is a true plug-and-play solution. It offers multiple output ports, meeting the diverse energy needs of various devices simultaneously, whether at home or in the great outdoors. Equipped with two MPPTs and a high PV power input of 1600W, it can be paired with over 99% of photovoltaic panels on the market, offering maximum flexibility.

2. High-Performance, Low Noise

The Micro Hybrid ESS is engineered for high performance. Featuring a 2kWh LFP battery, the system can expand up to 10kWh for extended power supply. Whether users need emergency backup at home or are camping off the grid, this system guarantees ultra-low noise during use thanks to its fanless design, making it the perfect companion for both residential and outdoor settings.

3. A Greener Future in Every Mode

The Deye Micro Hybrid ESS is designed for smart energy management with three intuitive modes:

Green Power Mode: Uses solar energy first to power your home, then charges the battery with any leftover. If more power is needed, the battery supplements the shortfall and sells excess power to the grid under the guarantee of the set SOC, thereby minimizing reliance on purchased electricity.TOU(Time-of-Use) Mode: Allows you to optimize energy consumption based on time-of-use pricing, buying electricity during off-peak hours and using or selling it back during peak hours.Full Charge Mode: Acts as a backup power source during emergencies, ensuring your home stays powered during outages or extreme weather events.

4. Empower Existing Systems to New Heights

The Micro Hybrid ESS features a unique AC coupling function that easily upgrades existing balcony micro-inverter systems. It could ensure no energy waste from the exsiting systems while meeting power needs during nighttime or outages.

It also supports Deye Smart loT System for further enhancement. When quipped with Deye Wireless Smart CT for Zero Export, this system could enhance its percentage of self-consumption. And if equipped with Deye Smart Plug, the system could realize 24-hour time-zone intelligent control of whole-house power equipment on and off.

5. Compact, Powerful, and Versatile: Ideal for Every Lifestyle

The Deye Micro Hybrid ESS is designed with flexibility in mind. Whether you’re someone seeking a reliable home backup power solution or simply an outdoor enthusiast, an RV traveler, this system is built to meet your needs. Its compact size—occupying less than 1/4 square meter—makes it an ideal solution for small apartments or spaces where every inch matters. With an IP65 rating and capable of operating in extreme temperatures from -10°C to 50°C, it’s ready to perform in all weather conditions.

The Deye Micro Hybrid Energy Storage System is not just about today; it’s about tomorrow. Technology may not give meaning to people’s life in a direct way, but this Deye new innovation could empower people to explore the distant places they long for. With green energy by customers’ side and electricity at their command, let the Deye AE-FS2.0-2H2 Micro Hybrid Energy Storage System be customers’ charging station for every step of their journey.

 

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SOURCE Deye

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Technology

NYP Launches New Studio Devoted To Cutting-Edge New Media Technologies

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The facility features industry-grade virtual production, preparing learners for an industry estimated to grow 14.7 per cent each year and be worth US$10.07 billion globally by 2032.

SINGAPORE, Jan. 13, 2025 /PRNewswire/ — Nanyang Polytechnic (NYP) unveiled its BeyondReality Studio, a one-stop playground of emerging immersive media technologies.

Virtual Production is an exciting and rapidly evolving field that combines traditional filmmaking techniques with cutting-edge digital technology. It involves the use of computer-generated imagery (CGI), augmented reality (AR), motion capture, and other technologies to create realistic environments and effects on virtual sets.

What you can expect in a virtual production studio:

LED Volume Walls: These replace traditional green screens, allowing real-time visualisation of virtual sets. This technology was notably used in “The Mandalorian”.Camera Tracking System: Allows the virtual environment to synchronise dynamically with the camera movements to achieve a realistic and immersive experience.Unreal Engine: A powerful real-time 3D creation platform that enables photorealistic rendering and real-time adjustments.

The global virtual production market is projected to reach US$10.07 billion by 2032[1]. This growth is driven by the increasing demand for high-quality visual effects in movies, TV shows, and commercials, as well as the rising adoption of virtual production technologies in the gaming industry. Major players like Disney, Epic Games, and ILM (Industrial Light & Magic) are heavily investing in virtual production. Disney, for instance, has extensively used LED video walls for in-house shoots, significantly reducing the need for on-location filming.

The Asia-Pacific region, particularly China, Japan, and South Korea, is also seeing rapid growth due to rising investments in the entertainment industry.

NYP’s investment in this state-of-the-art facility underscores its commitment to preparing students for the future. The BeyondReality Studio will provide students with unparalleled opportunities to develop skills in CGI, augmented reality, motion capture, and more, ensuring they are well-equipped to meet the demands of the entertainment and gaming industries.

The 2,500-square-feet virtual production facility features 24 professional motion capture cameras for high precision full-body performance capture, a large curved green screen cyclorama for greater versatility and illusion of depth, and an LED volume wall and floor for the most authentic replications of virtual environments.

The studio prepares students for the future of media production, offering opportunities to work with Extended Reality (XR), Virtual Production (VP), Augmented/Virtual Reality (AR/VR), Metaverse and Web 3.0, as well as Generative AI.

The studio boasts numerous firsts in Singapore’s visual and audio production scene:

NYP is the first and only Institute of Higher Learning (IHL) in Singapore to feature advanced LED volume technology. These skills have also been identified as emerging skills in the Infocomm Media Development Authority’s (IMDA) refreshed Skills Framework for Media.The BeyondReality Studio is the only studio in Singapore that features a unique 3-in-1 setup of motion capture, green screen, and LED volume virtual production all under one roof. NYP will be the first polytechnic to receive the official certification of a Dolby Atmos 7.1.4 Surround Audio Studio – to supplement the audio productions in the BeyondReality Studio – ensuring that soundtracks produced within the studio can be accurately reproduced worldwide, at the highest quality.

The studio also references Hollywood-standards, while ensuring space optimisation and creating conducive learning experiences. The studio’s LED volume wall is optimised for mid-to-close shots, making it an ideal training environment and the perfect size suitable for local productions. This allows industry partners to explore and experiment with innovative technologies and streamline production workflows.

Mr Albert Lim, Director at NYP’s School of Design & Media, said: “We are focused on equipping our students with more than just qualifications – we want to prepare them with the emerging skills required for them to stay at the forefront of media production, whether for further studies or career growth. With our new BeyondReality Studio, our students will learn what it takes to create their very own next-gen immersive masterpiece.”

Students across different disciplines in NYP will also get to work together on real-life virtual production projects. School of Business Management students can manage production shoots through set operations, scripting, and scheduling, while School of Design & Media students create virtual assets and integrate them into live environments using tools like Unreal Engine – an industry-leading 3D creation software. This collaborative approach equips our learners with relevant experience in working across teams on large-scale projects.

Final-year Diploma in Animation, Games & Visual Effects student, Choy Yu Feng, will be getting hands-on with the new facility in his final semester. “Virtual production is really up and coming, it will be very useful for me when I graduate with experience in these new technologies and some skills under my belt. I think it will help me stand out,” he said.

Creative media professionals can also take on a plethora of courses – from short courses to specialist diplomas – to upskill and reskill themselves in emerging immersive media technologies.

The BeyondReality Studio will be officially opened by Senior Minister of State, Ministry of Digital Development and Information, Tan Kiat How, on 24 Jan 2025.

-END-

About Nanyang Polytechnic

Established as an institution of higher learning in 1992, Nanyang Polytechnic’s (NYP) academic schools offer quality education and training through 37 full-time diploma courses and common entry programmes. NYP also has a full suite of Continuing Education and Training (CET) options for lifelong learning, ranging from specialist and advanced diplomas to SkillsFuture-supported modules and courses. NYP’s Asian Culinary Institute Singapore and the Singapore Institute of Retail Studies are CET institutes set up in partnership with SkillsFuture Singapore (SSG) to champion and transform Singapore’s F&B and retail sectors, respectively. A third NYP CET institute – the National Centre of Excellence for Workplace Learning – also set up in collaboration with SSG, will spearhead the development of progressive workplace learning strategies and programmes for companies here.

[1] Source: Fortune Business Insights, “Virtual Production Market Size, Share & COVID-19 Impact Analysis,” https://www.fortunebusinessinsights.com/virtual-production-market-107105

 

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SOURCE Nanyang Polytechnic

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Technology

GWM HYDROGEN-FTXT Delivers 406 Hydrogen Fuel Cell Sanitation Vehicles

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BAODING, China, Jan. 13, 2025 /PRNewswire/ — On January 10th, the first batch of 406 hydrogen fuel cell sanitation vehicles equipped with GWM HYDROGEN-FTXT’s hydrogen power system were officially delivered to customers, marking the successful implementation of GWM HYDROGEN-FTXT’s first “hundred-unit level” hydrogen sanitation vehicle demonstration application scenario in Baoding, China.

This batch of hydrogen sanitation vehicles includes three main models: hydrogen sweeping and washing vehicles, hydrogen cleaning vehicles, and hydrogen high-pressure flushing vehicles. They were jointly developed by GWM HYDROGEN-FTXT in collaboration with three well-known Chinese commercial vehicle manufacturers – Changzheng, Yutong, and Dongfeng. All vehicles are equipped with GWM HYDROGEN-FTXT’s self-developed commercial vehicle fuel cell system and hydrogen storage system. Compared to electric sanitation vehicles, they have significant advantages such as faster fuel replenishment and better adaptability to high and low-temperature environments. It only takes 5-8 minutes to complete hydrogen refueling, and a single refueling allows for continuous operation of over 10 hours.

This delivery is another large-scale, mass-application demonstration scenario of hydrogen fuel cell vehicles implemented by GWM HYDROGEN-FTXT in China, following the world’s first hundred-unit level 49-ton hydrogen heavy-duty truck demonstration application scenario. These vehicles will act as “mobile air purifiers” to support the low-carbon circular development model of “waste-free city + green hydrogen”, and create a benchmark for the application of hydrogen sanitation vehicles in China.

At present, the number of hydrogen energy vehicles equipped by GWM HYDROGEN-FTXT that have been launched in the Chinese market has reached the thousand-unit level.

Follow the website of FTXT for more information: http://en.ftxt-e.com/

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