North America dominates the inside casino lottery machines segment both in revenue and unit shipment
CHICAGO, IL, UNITED STATES, July 11, 2019 /EINPresswire.com/ — The casino gaming equipment market is expected to reach more than $9 billion by 2024, growing at an impressive CAGR of around 6% during 2018–2024.
The growing demand for mass-market gaming equipment, the increasing number of live casinos, the high adoption of AR and VR in gambling, and increasing innovations in slot machines are some of the upcoming trends and opportunities that are contributing in the growth of casino gaming equipment market.
The demand for electronic gaming tables (EGT) has increased due to improved customer experience, immense popularity among millennials, and high-level of enjoyable gameplay. EGTs have witnessed increased adoption in the global casino gaming equipment market. The APAC region is emerging as a dynamic market, and global players are looking forward to boosting their distribution channels in the region. With the growing demand for EGTs in casinos in the US, the market for EGTs is expected to grow during the forecast period. Thus, the augmented penetration of technology in the casino gaming equipment market is expected to increase the sale of electronic gaming tables in the coming years, and vendors are adopting innovative strategies to gain maximum market share.
The unprecedented growth of online gambling activities such as online casinos gaming and online betting has propelled the industry players to adopt new technologies to survive the competition. Thus, augmented reality and virtual reality have widely making inboards in the casino gaming equipment market.
The study considers the present scenario of the casino gaming equipment market and its market dynamics for the period 2018−2024. It covers a detailed overview of several market growth enablers, restraints, and trends. The study covers both the demand and supply sides of the market. The study profiles and examines leading companies and other prominent companies operating in the casino gaming equipment market.
The research report on the casino gaming equipment market covers sizing and forecast, market share, industry trends, growth drivers, and vendor analysis. The market study includes insights on market segmentation by demand type (new/expansionary and replacement), products (slot machine, gaming tablets, VLTs, video poker machines, gaming chips, and others), class type (class II machines, class III, and others), lottery machines (installed inside casinos and installed outside casinos), and geography (APAC, Europe, Latin America, MEA, and North America).
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Casino Gaming Equipment Market: Segmentation
The market research report includes a detailed segmentation of the market by demand, products, class type, lottery machines, and geography. Casino gaming equipment vendors majorly earn revenue from the sale of casino gaming equipment via two sources–new or expansionary demand and replacement demand. The new/expansionary segment grew at an impressive CAGR in 2018, while the replacement segment is expected to grow moderately during the forecast period. In 2018, the replacement sales registered the highest revenue in North America, followed by APAC. The introduction of upgrades and innovations and the substitution of old legacy systems with innovative solutions with advanced features are majorly driving the replacement segment.
Casino slot machines were the largest revenue generating segment of the casino gaming equipment market in 2018. Slot machines have evolved considerably, and the segment is witnessing increasing automation. North America is expected to continue its dominance during the forecast period. Also, the APAC region is likely to remain another significant revenue contributor to the market by 2024.
The US and Canada are well-established markets for lottery systems, and they contribute a high revenue toward the gambling market. Lottery inside casinos and outside casinos are the two major lottery machines in the casino gaming equipment market. The inside casino lottery machines segment captured around three-fourths of the market, with North America dominating the market both in revenue and unit shipment in 2018. However, the segment is expected to decrease its influence due to the penetration of video lottery terminals (VLTs) in casinos.
Market Segmentation by Demand Type
Market Segmentation by Products
• Slot machine
• Gaming tables
• Video Poker Machines
• Gaming Chips
Market Segmentation by Class Type
• Class II machines
• Class III
Market Segmentation by Lottery Machines
• Installed inside casinos
• Installed outside casinos
Casino Gaming Equipment Market: Geography
In 2018, North America constituted a dominant share of the global casino gaming equipment market with factors such as high spending power of baby boomers and Gen X, the increased adoption of smartphones, inclination toward new technology, and high urbanization driving the growth of the global gambling market. Further, in the APAC region, emerging countries such as India are witnessing traction for gambling activities such as sports betting and poker games. Technological advancements and the increased per capita disposable income are expected to drive the Europe market.
Market Segmentation by Geography
o Mainland China
o China SAR Macau
o China SAR Hong Kong
o Nordic Region
• Latin America
o South Africa
• North America
Key Vendor Analysis
The global casino gaming equipment market is highly concentrated with the presence of many local and international players in the market. The competition among these key players is intense especially in the US, Macau, and European countries. Further, the gaming equipment market is showing tremendous growth owing to positive government regulations in many countries. The competition will be based on offerings, premises, slot machine types, and gaming type. Vendors are adopting new business models and focusing on developing the portfolio of their establishments to drive growth.
• Incredible Technologies
• Konami Holdings
• Scientific Games
Other Prominent Vendors in the Casino Gaming Equipment Market
• Abbiati Casino Equipment
• APEX Gaming
• Aruze Gaming America
• Bingotimes Digital Technology
• BONO Gaming System
• Casino Technology
• Cole Kepro International
• Eclipse Gaming
• Euro Games Technology
• Gaming Partner International
• Grand Vision Gaming
• GTI (GiochiTecnologiciItaliani)
• Inspired Entertainment
• Jackpot Digital
• Magic Dreams
• Merkur Gaming
• Matsui Gaming Machine
• Novomatic Group
• Oritiz Gaming
• Rye Park Gaming
• Sega Sammy Creation
• Taiwei Group
• Zitro Games
Key Market Insights
• Offers market sizing and growth prospects of the casino gaming equipment market for the forecast period 2019–2024.
• Provides comprehensive insights on the latest industry trends, market forecast, and growth drivers in the casino gaming equipment market.
• Includes a detailed analysis of market growth drivers, challenges, and investment opportunities.
• Delivers a complete overview of market segments and the regional outlook of the casino gaming equipment market.
• Offers an exhaustive summary of the vendor landscape, competitive analysis, and key market strategies to gain a competitive advantage in the casino gaming equipment market.
Source: EIN Presswire