Top gambling vendors are expected to create VR casino gaming environment by 2024
Arizton’s recent research report on casino gaming equipment market provides comprehensive industry analysis, trend forecasts, and competitive analysis. The research study segments the market 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).
The casino gaming market is expected to reach $9 billion by 2024, growing at a CAGR of over 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 market.
Growing Demand for Electronic Gaming Tables
Interblock, a leading luxury gaming and electronic table manufacturer, announced its plans to expand its product lines at Resorts World Casino New York in June 2019.
In casino gaming 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 market. The APAC region is emerging as a dynamic market, and global players are looking forward to boosting their distribution channels in the region. For instance, Austria-based gaming equipment maker and operator, Novomatic Group, has signed a distribution agreement with Indo Pacific Gaming(IPG). Under the agreement, Indo Pacific Gaming will provide sales distribution of diversified products, including multi-mix games, electronic table games in Cambodia, Laos, Sri Lanka, India, Nepal, and Vietnam.
Although EGTs have occupied 5−10% of the floor space in casinos worldwide, the segment occupies only 1% in the US casino gaming market. However, 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 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.
Increasing Adoption of AR and VR in Gambling
Paddy Power Betfair announced to develop an in-depth AR technology-based application for Grand National Horse Racing.
In ICE 2018, Europe’s premier gambling conference, vendors revealed VR-based igames.
The casino gambling industry is witnessing the growing influence of the internet. 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 market. AR helps to create computer-generated sensory inputs such as sound, video, graphics, and GPS data and enhances the user’s perception and interaction with the real world. Further, virtual reality creates a simulated environment for users by using software and hardware. It also provides a 360-degree surround view and allows customers to experience games on other tables. The implementation of AR technology provides online casinos with a variety of options for improving and developing their casino gaming offerings.
Currently, a majority of VR gamblers are using basic smartphone-based handsets and advanced computer-dependent VR such as Oculus Rift. Further, the gambling industry has the highest potential of using AR and VR technology and top gambling vendors are expected to create VR casino gaming environment during the forecast period.
Growing Demand for Mass-Market Gaming Equipment
Mass-market gaming is emerging as a profitable and stable market in the online casino gaming market. The non-gaming items are paying for money-spinning, non-gaming items that are helping to increase the operators’ profitability. Mass-market gaming is crucial for the global online casino gaming world, especially for Macau. Further, the growth in mass-market gaming opens a new stream of revenue for gaming equipment manufacturers. For instance, Macau-based Melco Resorts and Entertainment was granted 40 new-to-market mass gaming live-dealer tables in January 2019 by DICJ. Similarly, in January 2019, MGM China Holdings also had 25 new-to-market live-dealer casino gaming tables for its casino resort, MGM Cotai.
Ainsworth, Aristocrat, Everi, IGT, Incredible Technologies, Konami Holdings, PlayAGS, and Scientific Games are the leading vendors in the casino gaming market.
The complete overview of the latest market research report on the casino gaming equipment market by Arizton is now available.
The report also offers a detailed study of major trends, drivers, challenges and provides market sizing and forecast for major geographical regions and key countries.
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