Market Synopsis:
Casino gaming equipment is the machines used for gambling for recreational purposes that comply with the legal parameters. Casino gaming is gaining traction and is anticipated to attract a larger customer base over the next couple of years. The report presented by Market Research Future (MRFR) unravels that the global casino gaming equipment market is observed to register 5.5% CAGR across the projection period 2019 to 2025. The market is estimated to value at over USD 20 Bn by the end of the assessment period.
Legalization of casino games by the governments is one of the major factors responsible for driving the growth of the market in the years to come. In the forthcoming years, more regions are expected to legalize these games which assures an attractive future trajectory for the casino gaming equipment market. Also, the key players are focusing on product innovation which is presumed to accelerate revenue creation in the global market over the next few years.
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Increasing disposable income of the population is likely to prompt the expansion of the casino gaming equipment market in the nearby future. Increasing urban migration is also projected to unleash developmental opportunities to the global market across the review period.
The developmental opportunities available in the market are motivating the establishment of new casino game parlors, which is poised to encourage the market’s growth trajectory in the foreseeable future. However, the high cost of the equipment and accessories can pose challenges to the players in the casino gaming equipment market over the evaluation period.
Market Segmentation:
The global casino gaming equipment market, on the basis of type, has been segmented into gaming chips, casino tables, video poker machines, slot machines, and other. Among these, the gaming chip segment resonates huge growth potential. It is anticipated to exhibit remarkable growth over the next couple of years.
Based on the application, the casino gaming equipment market has been segmented into mall, casino, and others. Among these, the casino segment is projected to dictate the growth trajectory of the market in the years to come.
Regional Analysis:
The regional analysis of the global casino gaming equipment market included in this MRFR report identifies four key regions which are further narrowed down on a country-level basis. The major regions studied in this analysis are – Europe, North America, Asia Pacific (APAC), and the Rest of the World (RoW). Asia Pacific is observed to maintain its pole position over the next couple of years. Major manufacturers are based out of the region, which is prognosticated to support the growth of the casino gaming equipment market in the region in the years to come. Also, factors such as rapid urbanization, rising standards of living, growing tourism industry, etc. are anticipated to accelerate growth of the market in the forthcoming years. Europe is also projected to exhibit substantial growth owing to the implementation of favorable regulation in the forthcoming years.
Competitive Dashboard:
Game Technology PLC (IGT) (UK), Scientific Games Corporation (US), Aristocrat Leisure (Australia), Novomatic (Austria), Incredible Technologies Inc (US), Gaming Partners International, Inc. (US), Konami Holdings Corporation (Japan), Everi Holdings Inc., (US), PlayAGS (US), and Abbiati Casino Equipment S.r.l. (Italy) are some of the key players participating in the global casino gaming equipment market. These players are poised to emphasize on technological advancements and product innovation for capitalizing on the thriving market. This, in the upcoming years, is expected to boost competition in the market. Also, these players are projected to resort to approaches such as mergers & acquisitions, collaborations, regional expansion, agreements, etc. to uplift their positions in the global market place. It assures a robust competitive landscape during the forecast period.
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