Are you aware of just how big the global iGaming industry is right now? According to ResearchandMarkets.com, it’s already worth $63.53 billion and in the next seven years to 2030, it’s expected to grow in value at a compound annual growth rate of 11.7%. This means it will hit $153.57 billion by the turn of the next decade.
As of 2022, the European market was the most dominant in the global iGaming sector, boasting revenue share of approximately 41%. However, the Asia-Pacific market is set to post 12% CAGR through to 2030 and Africa is not expected to be far behind thanks to increased smartphone adoption and improved 4G/5G connectivity.
At the heart of the iGaming industry’s global success is the innovation and creativity of iGaming software studios. These pioneers are helping to break new ground and design immersive casino gaming experiences on any medium. There are many successful iGaming studios with bright futures and we’re going to shine a spotlight on a handful of these, including their successes to date.
The Malta-based Pragmatic Play is a fast-growing iGaming software studio that’s now recognised worldwide for its casino content. Its slot titles are currently available as far afield as the Nigerian iGaming market. Betano, a leading online casino in Nigeria, has a supply arrangement with Pragmatic Play, with 20 of their leading slot franchises listed including Big Bass Bonanza and The Dog House.
There’s no better demonstration of Pragmatic Play’s performance on the global iGaming stage than revealing that its games are now available in 33 languages and currencies. At the time of writing, Pragmatic Play’s games are certified and licensed for use in more than 20 iGaming jurisdictions worldwide. Their underlying iGaming technology extends to sports betting and live casino too, all supplied to operators via a unified API. This is also big news for emerging markets like Nigeria, with sports betting on the rise there too thanks largely to the raft of Nigerian footballers playing overseas in the biggest domestic leagues.
Swedish firm Evolution Gaming Group AB has expanded into a live casino behemoth. It firmly established itself as the world’s number-one B2B supplier of best-in-class live dealer games, including classic table games as well as next-generation live casino game shows. As connectivity continues to improve in its speed and reliability worldwide, Evolution has latched onto live casino gaming as an authentic way of replicating that casino floor feel.
It’s also embarked on a rapid period of acquisitions within the European iGaming scene. In 2020, Evolution assumed full control of iGaming studio NetEnt, which was a hugely successful supplier of games in its own right. More recently it has acquired Big Time Gaming – the pioneers of the Megaways slot engine – and slot developers Nolimit City.
Established in 2013, Yggdrasil Gaming is a relatively new kid on the block in iGaming development terms, but it’s already cultivated a reputation for world-class iGaming experiences. It is now famed for its immersive slot game themes, delivering engaging console-like gaming experiences.
Within three years of its launch, Yggdrasil had secured its licenses to serve the UK iGaming market and its Gibraltar license also opened Yggdrasil’s suite of games to the European market. Fast forward to 2022 and it was named RNG Casino Provider of the Year at the IGA Awards too. Last year was also a breakthrough moment for Yggdrasil game releases in America as it seeks to infiltrate the US iGaming market.
Play’n GO is the second up-and-coming iGaming studio featured in this article with a Maltese headquarters. It’s unsurprising when you consider Malta is the undisputed hub of iGaming in Europe. Play’n GO has long held a vision for becoming the leading gaming entertainment supplier, ever since its early days operating out of a small town in Sweden. It’s well on the way to doing this, with its library of casino games now approved in over 25 iGaming jurisdictions worldwide.
Some of the Play’n GO slots have become iconic iGaming franchises, including the popular slot protagonist Rich Wilde and the Book of Dead, and sequel, Rich Wilde and the Amulet of Dead.
This quartet of iGaming studios are going to have a huge say on meeting those lofty growth targets for the industry between now and 2030.Copyright © 2023 Completesports.com All rights reserved. The information contained in Completesports.com may not be published, broadcast, rewritten, or redistributed without the prior written authority of Completesports.com.