Innovation Accelerating Casino Gaming Equipment Market
Arizton’s recent research report on the casino gaming device 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 device market is expected to generate revenue of around $9 billion by 2024, growing at a CAGR of over 6% during the forecast period.
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The lottery machines segment captured around three-fourths of the casino gaming device market in 2018
The sale of lottery machine has been gaining traction across the world. Lottery machines inside casinos are gaining popularity and the segment captured around three-fourths of the casino gaming devices market in 2018. While lottery machines are increasingly being installed outside casinos, the uptake is slow in emerging markets of APAC, Latin America, and MEA. Countries, where state-run lotteries are dominating, enjoy a significant share of such installations worldwide. However, the growing penetration of VLTs has contributed to the growth of inside lottery machines.MEA, Latin America, Europe, APAC are expected to emerge as the potential revenue generators for inside lottery machines in the casino gaming devices market during the forecast period.
APAC is the emerging market for casino gaming equipment
In 2018, the APAC region accounted for around one-third of the total revenues in the casino gaming devices market globally. Emerging countries such as India are witnessing traction for gambling activities, and Macau is the largest market for gambling activities. Social games are popular in the Asian population. In addition, the increase in per capita disposable income in Asian countries will enhance end-users’ spending sentiments, leading to the rise in expenditure on leisure activities such as gambling.
Innovations and advanced technology boosting video slot machines
Single-coin machines, multi-slot machines, touch screen machines, video slot machines, wild play machines, and other slot machines are the types of slot machines trending in the casino gaming devices market. In 2018, the touch screen segment dominated the market, which was then followed by the video slots segment. Advanced technology, coupled with innovation-driven development, is expected to boost video slot machines in the coming years. In the last couple of years, conventional slot machines have witnessed significant demand in the market as they are easy to operate. Further, wild play machines are widely used in casinos for crowd pulling. They help to generate revenue opportunities for equipment manufacturers.
Audio Network, Getty Images, Shutterstock, Musicbed, and Envato are identified as prominent vendors in the royalty free music market.
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The complete overview of the latest market research report on the casino gaming device market market by Arizton is now available.
The report 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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