As the team at SlotVegas are showing, the technology industry has been governed by various leaders, including Apple, Microsoft, Google, and Amazon, for many years. These companies have created a unique space for themselves in the tech world and this domination has further strengthened with the effects of the COVID-19 pandemic. The joke, ‘Big Techs run my life,’ has become a stark reality as more and more people are becoming dependent on these digital giants for their sales, income, transactions, and online needs.
Among the tech space itself, two specific sectors are dominating more than others. These sectors include Fintech and gambling, with their total revenue exceeding the combined revenue of the entire big technology companies. According to the analysis of sales and revenue of these two sectors, they have reported rampant growth in recent times and hold strong potential in the future.
The revenue and sales growth of the Fintech and gambling industries reveals that the coronavirus pandemic has not impacted them. The comparison of returns and yields of these two sectors of technology with those of the four Big Tech giants indicates how much they have developed in the recent past.
It is estimated that the gambling industry across the world will grow to $443.2 billion by the end of 2020, and to $647.9 billion by 2027. The compound annual growth rate for the gambling industry is expected to be 5.6%. On the other hand, the global FinTech industry is estimated to grow at a CAGR of 22.17%, from revenue of $290 billion in 2020 to $305 billion in 2025.
Infographic by: slotvegas