New York, June 17, 2021 (GLOBE NEWSWIRE) – Casino Gaming Equipment Market Overview: According to a comprehensive research report from Market Research Future (MRFR), “Casino Gaming Equipment Market Research Report, Type, Service, Technology End User and Region Forecast to 2027 ” The market is expected to reach around USD 20 billion and is expected to experience a CAGR of around 5.5% during the forecast period. (2020 – 2027)
The main drivers of the increase in demand for casino gaming equipment include increasing trends in digitization, increasing disposable income and changing lifestyles around the world. In addition, the increasing construction of new casino centers around the world due to the increasing demand for gambling is expected to boost the demand for casino gaming equipment in the global market.
During the projected period, the significant advancements in slot machine technology and the prevalence of reconfigurable electronic game machines are expected to provide opportunities for players in the global market. International Game Technology PLC (IGT), Aristocrat Leisure, Scientific Games Corporation, Novomatic, and Gaming Partners International Corporation are the leading manufacturers of casino gaming equipment in the global market. They mainly focus on product development and forming strategic collaborations with players in the gaming industry.
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The major players featured in this report include –
- International Game Technology PLC (IGT) (United Kingdom)
- Aristocrat Leisure (Australia)
- Scientific Games Corporation (United States)
- Novomatic (Austria)
- Gaming Partners International Inc. (United States)
- Incredible Technologies Inc (United States)
- Konami Holdings Corporation (Japan)
- PlayAGS (United States)
- Everi Holdings Inc. (United States)
- Abbiati Casino Equipment Srl (Italy).
Browse the In-Depth (100 Pages) Casino Gambling Equipment Market Research Report
Impact of COVID-19 on the Global Casino Gaming Equipment Market
In an attempt to limit the spread of COVID-19, government officials in many developing and developed countries have imposed tough measures such as partial or full shutdowns. The manufacture of casino gaming equipment and the provision of related facilities were limited to the limits allowed during the lockdown. Several points of sale and e-commerce sites were closed during the confinement period. These factors have hurt the global economy and the casino gaming equipment industry. The availability of this equipment was very limited, resulting in a significant disparity between supply and demand. The COVID-19 pandemic has disrupted the supply chains of various casino gaming equipment manufacturers across the world, hampering business growth. Several companies are also suffering from liquidity issues, which could lead to the complete shutdown of their manufacturing plants. Financially strong companies, on the other hand, were able to maintain operations after the pandemic. Global demand and product availability are critical to the growth of the casino gaming equipment industry.
According to the MRFR analysis, the increased risk of a global economic downturn in the coming year will put additional pressure on demand for casino gaming equipment. Gaming Partners International, Inc. (US), International Game Technology PLC (UK), Scientific Games Corporation (US) and Konami Holdings Corporation (Japan) are among the major industry players expected to hold Considerable market shares in terms of revenue. The market is expected to stabilize by the fourth quarter of 2020. As demand is likely to stabilize gradually throughout the projection period, industry players are expected to improve their production capacities.
The global casino gaming equipment market has been segmented on the basis of type and application.
Based on type, the global casino gaming equipment market has been segmented into gaming chips, slot machines, casino tables, video poker machines, and others. The gaming token segment is expected to experience significant growth in the global market in terms of value during the forecast period.
On the basis of applications, the global casino gaming equipment market has been segmented into casinos, shopping malls, and others. The casino segment is expected to dominate the global market during the forecast period.
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Geographically, the global casino game equipment industry has been segmented into four regions: North America, Europe, Asia-Pacific, and Rest of the World.
Asia Pacific is expected to retain a considerable market share during the projection period due to the presence of various manufacturers of casino gaming equipment. Europe, on the other hand, is expected to experience spectacular growth due to strict government rules and increased demand for offline games from Russia, Germany, Spain and France.
The global casino gaming equipment industry is highly competitive and fragmented, with various companies operating globally. Companies have used various strategies to expand their global reach and gain a foothold in the global market. The main strategy of these organizations includes expansions, investments and acquisitions.
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Market segmentation covered by research:
Information, by Type (Gaming Chips, Slot Machines, Casino Tables, Video Poker Machines and Others), Application (Casino, Shopping Mall and Others) and Region (North America, Europe, Asia-Pacific and Rest of the World )
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