Dublin, Jan. 21, 2021 (GLOBE NEWSWIRE) -- The "Casino Management Systems Market by Component (Solutions and Services), Application (Accounting, Security and Surveillance, Player Tracking, Hotel and Hospitality, Analytics, and Digital Content Management), End User, and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The Casino Management Systems Market is Projected to Grow from USD 6.4 Billion in 2020 to USD 13.7 Billion by 2025, at a Compound Annual Growth Rate (CAGR) of 16.4% during the Forecast Period.
The evolving lifestyle and societal concerns and increasing use of cashless slot machines and server based gaming to drive the market growth.
By component, services segment to grow at a higher CAGR during the forecast period
The services include the support offered by casino management system vendors to assist their customers in using and maintaining casino management system efficiently. Vendors offer different services, such as consulting, deployment and integration, support and maintenance to the end users. The services segment has witnessed tremendous growth in recent years due to the increasing need for replacing legacy casino infrastructure in the casinos and resorts. Therefore, services segment registers the highest growth rate during the forecast period.
By application, the security and surveillance segment to register the highest growth rate during the forecast period
Today's demanding business environments require proficient handling of processes by implementing CMS solutions across casinos. Over time, video surveillance has been proved to be an effective tool to create a secure and healthy environment in the gambling industry.
Most of the casinos are deploying new generation of cameras and networking equipment, security and surveillance systems not only captures a player's actions, but it also helps to store it for future references. CCTV cameras are now being replaced by IP cameras, since IP cameras require less hardware. Security and surveillance software would have more deployments in future. Therefore, the security and surveillance segment holds the highest growth rate during the forecast period.
Asia Pacific to register the highest growth rate during the forecast period
Asia Pacific (APAC) has witnessed an advanced and dynamic adoption of new technologies and is expected to record the highest CAGR in the global Casino management system market during the forecast period. APAC constitutes major economies, such as China, Japan, Singapore, and Australia and New Zealand, which are expected to register high growth rates in the casino management system market. In recent years, the APAC region has undergone tremendous economic growth, political transformations, and social changes. India, Japan, and Singapore, and Australia are the new casino heavens for gamblers and are attracting new casinos in the region.
These new casinos are attracting installations of more deployment of IT solution and systems. Post-pandemic the APAC has become new revenue generating regional market and will lead in next couple of years in terms of revenues. China is the largest manufacturer and exporter of security components such as video surveillance cameras, biometric devices, and communication equipment.
Companies operating in APAC would benefit from the flexible economic conditions, industrialization-motivated policies of the governments, as well as from the growing digitalization, which is expected to have a significant impact on the business community.
Market Dynamics
Drivers
- Demand for Better Management of Security and Surveillance Operations in Casinos
- Significant Cost Savings Enabled by the Adoption of Casino Management Solutions
- Growing Concerns Over Cyber Threats in the Hospitality and Gaming Industry
Restraints
- Growing Popularity of Online Casinos/Gambling
- Unfavorable Regulatory Landscape for Gambling
Opportunities
- Use of Advanced Analytical Technologies for Improving the Solution Capabilities
- Growth of the Hospitality Industry in Emerging Countries
- Integration with Complementary Solutions to Enhance Solution Utility
Challenges
- Steep Decline in Casino Revenues and Operations due to the COVID-19 Pandemic
- Lack of Skilled It Professionals
Technology Analysis
- Artificial Intelligence and Machine Learning
- Online Gaming and Gambling
- Augmented Reality and Virtual Reality
- Blockchain
- Cybersecurity
Cybersecurity and Data Regulatory Implications
- General Data Protection Regulation
- Payment Card Industry Data Security Standard
- Health Insurance Portability and Accountability Act
- Federal Information Security Management Act
- Gramm-Leach-Bliley Act
- Sarbanes-Oxley Act
- International Organization for Standardization 27001
Use Cases
- Bao Son International Hotel Versace's Club Deploys Igt Advantage to Handle a Rage of Essential Functions
- Grand Sierra Resort Deployed Konami's Synkors as the Exclusive Casino Management Platform
- Kate Systems and Access-Is Collaborated on the Casino Management Systems to Comply with Legal Mandates in Belgium
- Table Trac Helped the Running Creek Casino to Upgrade Its Casino Management Systems
- Igt Acquires Majority of the Class Iii Game Floor at the Emerald Queen I-5 Casino
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Casino Management Systems Market, by Component
7 Casino Management Systems Market, by End-user
8 Casino Management Systems Market, by Application
9 Casino Management Systems Market, by Region
10 Adjacent Markets
11 Competitive Landscape
12 Company Profiles
- Novomatic
- Scientific Games
- Konami Gaming
- Panasonic
- Oracle
- Agilysys
- Winsystems
- Amatic Industries
- Ensico Gaming
- Honeywell
- Apex Pro Gaming
- Hcl
- Dallmeier
- Playtech
- Lodging and Gaming Systems
- Cyrun
- International Game Technology
- Wavestore
- Tangam Systems
- Advansys
- Avigilon
- Casinfo Systems
Startup Companies
- Rngplay
- Funfair
- Gaming Analytics
- Delta Casino Systems
- Daobet
- Casinoflex Systems
- Omnigo
- Ntechlab
- Nelysis
- Bateleur Systems
For more information about this report visit https://www.researchandmarkets.com/r/jlxb8w
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