New York, United States, Jan. 08, 2024 (GLOBE NEWSWIRE) -- Casino gaming equipment is used for entertainment and gambling and is found in casinos, malls, and other places of entertainment. Casinos offer a wide range of games, each with a unique set of gaming accessories. A rise in disposable income among consumers, especially in developing countries, has created a growth impact on the casino industry. The number of consumers visiting casinos has gained momentum in the recent past. Consequently, the number of casino establishments has increased, creating a high demand for casino equipment.
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Rising Number of Casinos Worldwide Drives the Global Market
According to Straits Research, “The global casino gaming equipment market size was valued at USD 11.64 billion in 2021. It is projected to reach USD 18.53 billion by 2030, growing at a CAGR of 5.3% during the forecast period (2022–2030).” The growth of the casino industry can be attributed to changes due to technological advancements in the modern world. Regulated casinos have opened up new markets and reached record revenue since casino-related activities are legal in many nations worldwide. Many countries have authorized commercial casino gambling mainly because they view it as a tool for boosting the economy. An increase in the number of casinos has a direct positive effect on the casino gaming equipment business.
Incorporating Artificial Intelligence and other Innovations Creates Tremendous Opportunities
There has been tremendous growth and innovation in casino gaming in the past few years. For instance, in 2019, KANOSR launched DIMENSION 49, its latest 4K video slot machine cabinet. It premiered at two of the world's most significant gaming industry events: Global Gaming Expo Las Vegas and ICE London. The cutting-edge DIMENSION 49 cabinet offered a 49-inch ultrahigh-definition screen. The company also demonstrated several slot machines at the events. In addition, the company also launched "Infinity V55 Cabinet", one of the largest for-sale cabinets in the casino gaming industry. Product innovations like these are expected to create growth avenues in the casino gaming equipment industry.
Regional Analysis
North America is the most significant shareholder in the global casino gaming equipment market and is expected to grow at a CAGR of 5.1% during the forecast period. The United States has the world's largest concentration of casinos. The gambling industry has been able to draw in many customers in the area because of the widespread usage of augmented reality (AR) and virtual reality (VR). Additionally, consumers in this region have significant purchasing power, which drives the market's expansion and advances technological advancement.
European casino gaming equipment industry share is expected to grow at a CAGR of 5.8%, generating USD 1,528 million during the forecast period. The growth is driven by changing regulatory landscapes in European countries, most of which now have dedicated regulations for online gambling activities. However, the development of online casino games is also anticipated to garner high traction.
Key Highlights
- Based on product type, the global casino gaming equipment market is classified into slot machines, video lottery terminals, video poker machines, and others. The slot machines segment is the highest contributor to the market and is expected to grow at a CAGR of 5% during the forecast period.
- Based on the installation, the global casino gaming equipment market is classified into installed inside casinos and installed outside casinos. The installed inside casino segment owns the highest market share and is expected to grow at a CAGR of 5.1% during the forecast period.
- Based on the mode of operation, the global casino gaming equipment market is bifurcated into floor mounted and portable. Floor-mounted casino equipment is the highest contributor to the market and is expected to grow at a CAGR of 5.2% over the forecast period.
- North America is the most significant shareholder in the global casino gaming equipment market and is expected to grow at a CAGR of 5.1% during the forecast period.
Competitive Players
The global casino gaming equipment market’s top 10 players are Incredible Technologies Inc., Playags Inc., International Game Technology Plc, Everi Holdings Inc., Euro Games Technology Ltd., Aristocrat Leisure Ltd., Gamebridge Casino Equipment, Matsui Gaming Machine Co. Ltd., Jackpot Digital Inc, and The Novomatic Ag Group.
Market News
- In May 2022, International Game Technology PLC announced that its IGT ADVANTAGE casino management system and various leading IGT games and cabinets would be deployed at the soon-to-open NUSTAR Resort and Casino in Cebu, the Philippines.
- In August 2022, Inspired Entertainment, a gaming equipment provider, made a USD 370 million offer to acquire PlayAGS Inc, a slot machine-making company. Inspired Entertainment offered USD 10 per share in cash to acquire PlayAGS.
Global Casino Gaming Equipment Market: Segmentation
By Product Type
- Slot Machines
- Video Lottery Terminal
- Video Poker Machines
- Others
By Installation
- Installed Inside Casino
- Installed Outside Casino
By Mode of Operation
- Floor Mounted
- Portable
By Regions
- North America
- Europe
- Asia-Pacific
- LAMEA
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