PUNE, India, July 18, 2024 /PRNewswire/ — The Casino Gaming Equipment Market size was valued at USD 13.13 Billion in 2023, according to the SMR analyst. The total Casino Gaming Equipment revenue is expected to grow at a CAGR of 5% from 2024 to 2030, reaching nearly USD 18.48 Billion by 2030.
The casino industry is rapidly evolving and flourishing as more people become aware of the enjoyment and thrills it delivers. Evolving customer’s choices and preferences and the integration of advanced technologies to provide thrilling gaming experiences like virtual reality and skill-based games are attracting a substantial consumer base. According to the MMR analysis, there are 5,098 Global Casinos & Online Gambling businesses as of 2024, an increase of 5.2% from 2023. With currently over 2,000 casinos, the United States has the largest number of casinos across 44 states in the world. Thus, growing numbers of casinos are driving the demand for casino gaming equipment, supporting the casino gaming equipment market to grow at a substantial growth rate during the forecast period.
With the advanced technology integration in the equipment, the casino game equipment industry has grown significantly. For example, the integration of Predictive AI And Slot Machines in the casinos is shaping the future of the market. The introduction of predictive AI in slot machines has changed the face of casino gaming by providing insights into customer behavior, preferences, and trends. This technology allows for personalized gaming experience, player satisfaction, customer loyalty, and revenue growth. Predictive AI uses player data to customize game offerings and features, to create unique experiences that encourage more playtime. Also, it helps in responsible gambling by identifying at-risk players and casinos can take necessary measures. So AI-driven innovations are setting new benchmarks and driving continuous technological advancements and investments in casino gaming infrastructure.
The SMR’s Global Casino Gaming Equipment Market Report is a comprehensive and in-depth analysis of the market’s size, share, growth, trends, demand, and forecast, with a focus on the most recent developments and industry trends. Regulations imposed by various governments on the casino industry have been analyzed to give a comprehensive understanding of their impact on operations, profitability, and compliance requirements within the sector. competition in the market is analyzed by using PORTER’s five forces analysis as well as PESTLE analysis was carried out to investigate the various factors impacting the market growth. A detailed competitive landscape is provided in the final report including major key players, their position in the market, product offerings, their major end-users, revenue details, their global presence, etc. In addition, recent developments such as mergers and acquisitions, product launches, and geographical expansion are covered to give the overall intensity of the industry.
Global Casino Gaming Equipment Market 2023-2030: Key Highlights
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Market Size in 2023: |
USD 13.13 Bn. |
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Market Size in 2030: |
USD 18.48 Bn. |
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CAGR: |
5 % |
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Forecast Period: |
2024-2030 |
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Base Year: |
2023 |
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Number of Pages: |
229 |
|
No. of Tables: |
138 |
|
No. of Charts and Figures: |
193 |
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Regional Scope: |
North America, Europe, Asia Pacific, and Africa, South America |
|
Report Coverage: |
Market Share, Size, and Forecast by Revenue | 2023−2030, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, SMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis. |
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Market Overview
Technological advancements and the legalization of gambling throughout some most important countries which include the US, the UK, Canada, Germany, the Netherlands, Australia, and Ireland, brought about high sales growth inside the gaming enterprise. Casinos now utilize a wide variety of gaming gadgets past traditional tables, slots, and dice, along with machines observed in department shops and amusement venues. The increasing international reputation of gaming has driven the need for top-notch casino devices, particularly in North America and Europe where the industry is expected to grow at a CAGR of 5.1% and 5.8%, respectively, through 2030.
A rise in disposable income amongst customers, mainly in developing countries, has created a boom effect on the casino industry. The number of clients visiting casinos has received momentum in the past. Consequently, casino establishments have expanded all around the globe, increasingly demanding high-quality casino types of equipment. Technological traits which include virtual reality (VR), augmented truth (AR), and cellular gaming are enhancing participant engagement and increasing marketplace possibilities.
The shift towards online gambling and the acceptance of cryptocurrencies for transactions further fuel market growth. Additionally, skill-based gaming like poker and e-sports presents opportunities for specialized gaming equipment. Vendors in the market are expanding their product portfolios and launching new products to attract more customers. Advanced display solutions and electronic gaming machines are gaining popularity for their ease of use and upgradeability. Companies like Everi and NOVOMATIC have introduced innovative products with enhanced functionalities, driving market growth.
Competitive Landscape
The casino gaming equipment market is highly competitive due to the rapid pace of innovation driven by increasing demand for diverse gaming options. Digitization has accelerated the release of new game variations, expanding market offerings and attracting different demographics. Traditional casinos have evolved, maintaining their core elements while integrating modern technologies. The market now features a vast array of games, categorized into broad types like Table Games (e.g., blackjack, baccarat, roulette, craps), which simplifies choices for users. Providers and developers have to continuously innovate to stay ahead, leading to a dynamic and competitive environment where new entrants and established leaders vie for market share through technological advancements and varied gaming experiences. Some of the major casino gaming equipment manufacturers are
What’s New: Recent Additions and Updates
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Segment Overview: SMR has segmented the market based on
By Product
By Installation
Detailed segmentation analysis including segment market size, share, growth rates, growth factors, etc. is provided in the final SMR report.
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Geography Overview
North America dominated the casino gaming equipment market in 2023 with the highest revenue. The American Gaming Association (AGA) published the institution’s annual file on the industry in October 2023, estimating that gaming and casinos had a positive economic impact of USD 328.6 billion, which covered growing 1.8 million jobs; USD 104 billion in wages and salaries; and USD fifty-two.7 billion in tax sales to federal, state, and neighborhood governments. However, the Asia Pacific region is predicted to develop at the fastest CAGR and provide substantial revenue growth potentials for the marketplace players during the forecast period. Macau, China, India, Singapore, Philippines, Malaysia, etc. are some of the predominant countries within the casino gaming enterprise.
The upward push of luxury gaming in India, particularly in Goa, is substantially boosting the tour and tourism sector. With domestic tourism swiftly increasing and a regular influx of foreign vacationers, the casino industry is poised for rapid increase within the country. Goa, a top destination for online casino gaming, draws a various crowd looking for upscale entertainment. This trend is driven by the growing disposable earnings and greater connectivity. India’s tourism quarter is predicted to develop annually by 6.7%, advantages from the economic impact of casinos, which make a contribution to neighborhood economies through taxes and charges. Streamlined regulatory frameworks are predicted to enable India to turn out to be a worldwide gaming hub, notably enhancing the casino gaming device market and boosting the overall tourism enterprise.
In the final report, past and future numbers and explanations are incorporated seamlessly to provide a comprehensive understanding of the Global Casino Gaming Equipment market.
Related Reports:
North America Casino Gaming Equipment Market size was valued at USD 3.75 Billion in 2023. The total revenue of North America Casino Gaming Equipment is estimated to grow at a CAGR of 5% and is expected to reach around USD 5.28 Billion by 2030.
North America Online Gambling Market size was valued at USD 30.71 Billion in 2023. The total North America Online Gambling revenue is expected to grow at a CAGR of 9.45% during 2024-2030 and reach nearly USD 57.78 Billion by 2030.
Games and Puzzles Market size was valued at USD 18.40 Bn. in 2023 and the total Global Games and Puzzles revenue is expected to grow at a CAGR of 8.5% from 2024 to 2030, reaching nearly USD 32.57 Bn. by 2030.
US Esports Market size was valued at USD 510 Million in 2023 and the total US Esports revenue is expected to grow at a CAGR of 21.3% from 2024 to 2030, reaching nearly USD 1970 Million.
Sports Sunglasses Market size was valued at USD 4.30 Billion in 2023 and the total Global Sports Sunglasses revenue is expected to grow at a CAGR of 5.2% from 2024 to 2030, reaching nearly USD 6.13 Billion by 2030.
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