Casino gaming equipment is the next frontier in entertainment, as well as a lucrative industry that is rapidly expanding. According to Market Research Future’s market research report, it will reach USD 20 billion in 2020, with a CAGR of 5.5 percent.
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Demand for casino gaming equipment is increasing as a result of growing digitalisation trends, increased disposable income around the world, and changing lifestyles. Companies are investing heavily in slot machines with advanced technology to meet this new demand, giving players more options when it comes to playing gambling games.
Casino gaming has been around for centuries, but it is now a $240 billion dollar global industry. This means that those who design and manufacture high-quality gambling equipment, such as slot machines and roulette tables, will have opportunities. IGT PLC (IGT), Aristocrat Leisure, Scientific Games Corporation, Novomatic, and Gaming Partners International Corp. are some of the major players in this game, and each provides their own type of product designed with different goals: from product development to forming strategic collaborations with participants in the gaming industry themselves!
Jackpot casino games have existed since ancient times; however, it is now a 240 billion dollar international business opportunity due solely to new technologies introduced by various high-quality vendors such as IGT.
In their report, Market Research Future provides a list of the top ten gaming companies. These are as follows:
International Game Technology PLC (IGT) (UK) Aristocrat Leisure (Australia) Scientific Games Corporation, US; Novomatic Gaming AG it Austria; Incredible Technologies Inc., USA and Konami Holdings Corp Japan PlayAGS usa; Everi Holdings Inc., USA.
Casino gaming is an excellent way to keep your attention, but it can be challenging for some. Try adding new games or purchasing the most up-to-date equipment on the market to make it more exciting and fun!
The Impact of COVID-19 on the Global Casino Gaming Equipment Market
To help prevent the spread of COVID-19, the government has imposed strict restrictions on the sale of casino gaming equipment and related facilities. These stringent measures are harming businesses, particularly those in the global gambling industry, which has lost sales as a result of a worldwide lockdown imposed by officials.
This is a depressing state of affairs. Of course, there are casinos that have enough cash to keep their doors open, but those with significant liquidity issues were forced to shut down operations due to COVID-19’s grip on global supply chains for casino gaming equipment manufacturers.
A global economic slowdown is putting pressure on the casino gaming equipment industry. According to MRFR, with more risks looming in the coming year, there will be less demand for this type of product. The top four companies are International Game Technology PLC (UK), Scientific Games Corporation (US), Gaming Partners International Inc, and Konami Holdings Corporation, which together have a market share of over $6 billion dollars from 2014 to 2018. According to their predictions, by 2020, these same companies will represent about 8% more revenue than previously predicted due to l
As demand stabilises, industry participants are expected to increase their production capacity.
Segmentation of the Market
There are two major segments in the global casino gaming market based on type and application. The first segment is by item type, which includes slot machines, gambling chips, casino tables, video poker machines, and so on, which have been further subdivided into different categories such as a)Gaming Chips b)Slot Machines c)Casino Tables d). Based on this classification scheme, regions around the world such as Asia-Pacific (APAC), Europe, the Middle East, and Africa (EMEA), and North America are classified (NAmerica).
The second geographical division includes locations where casinos exist, such as malls or other locations not listed above. Between 2008 and 2014, it appears that APAC led the global market in terms of transactions exceeding $5 billion per year in each category.
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Analysis by Region
The global casino gaming equipment industry was divided into four regions in 2012: North America, Europe, Asia Pacific, and the Rest of the World. Due to the presence of numerous casino gaming manufacturers, it is currently predicted that Asia Pacific will retain a significant market share over the forecast period. In contrast to this prediction for 2020, Europe has been forecasted to grow dramatically due to increased demand from Russia, which is experiencing strict government regulations on its gambling markets, as well as many other countries such as Germany and France, which have also experienced growth based on these conditions!
Competitive Environment
The global casino gaming equipment industry is as exciting and competitive as you might expect. These organisations’ three major strategies for expanding their reach across national borders in order to capture a larger share of this lucrative market are expansions, investments, and acquisitions.
Market Segmentation Covered in the Research
You’re a high roller looking for the best slots in town, right? We were extremely fortunate. We have so many to choose from, and each one offers something unique, depending on your personal style! You can try our cutting-edge video poker machines or go old school with slot machine gambling games – the choice is yours.
If you want to gamble in North America, there are plenty of options, but don’t get stuck there! Our other regions have some great deals as well; Europe has France, for example, and Asia Pacific has Japan and India among its nations.
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