DUBLIN--(BUSINESS WIRE)--The "Casino Gaming Equipment Market by Product Type, Installation and Mode of Operation: Global Opportunity Analysis and Industry Forecast, 2021-2027" report has been added to ResearchAndMarkets.com's offering.
Casino gaming equipment refer to gaming machines used for the purpose of entertainment and gambling and are found in casinos, malls, and other places of entertainment. It is highly regulated and these regulations differ from country to country. Numerous games are played at casinos and each game has its own type of gaming equipment.
The commercial casino industry has seen significant growth over last few decades. This has been primarily driven by several factors including product innovation, rise in consumer spending, and increase in casino establishments. Over years, manufacturers have laid high emphasis on new product development as a means to increase consumer experience and to sustain competition. There has been a transition from traditional casino tables to electronic gaming tables. Moreover, with rise in disposable income and consumer spending on entertainment activities, consumer visits to casinos have increased in recent past. In addition, governments in several countries have liberalized regulations related to casinos. This has enabled to expand casino establishments, which drives demand for the equipment. However, several manufactures are highly reliant on third-party suppliers and vendors for delivering parts, equipment, and services. Any failure of these third parties to meet their delivery commitments could result in subsequent loss, and affect customer orders. This loss can have an adverse effect on results of operations, cash flows, and financial condition. Hence, it can be regarded as a potential restraint in the casino gaming equipment market.
On the contrary, over the previous decade, there has been a tremendous growth and innovation in the field of casino gaming, which is anticipated to keep growing. Manufacturers are developing innovative products to provide consumers around the world with new ways to enjoy themselves and add value to their daily lives. Hence, higher efficiency through product innovation can be regarded to create growth avenues in the casino gaming equipment market.
Owing to the spread of COVID 19, the demand for casino gaming equipment has been negatively affected. The pandemic resulted in significant reduction in capital spending by customers and lower gaming operations revenue, owing to venue closures and social distancing measures from March 2020. Furthermore, the outbreak also caused supply chain slowdown and product delivery delays as well as closures of casinos on a global scale, hence impacting the business.
According to the casino gaming equipment market analysis, the market is segmented on the basis of product type, installation, mode of operation, and region. By product type, it is classified into slot machines, video lottery terminal, video poker machines, and others. By installation, it is categorized into installed inside casino and installed outside casino. By mode of operation, it is bifurcated into floor mounted and portable. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
Key Benefits
- The report provides a quantitative analysis of the current casino gaming equipment market trends, estimations, and dynamics of the market size from 2021 to 2027 to identify the prevailing opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis and the market size and segmentation assists in determining the prevailing Casino gaming equipment market opportunities.
- The major countries in each region are mapped according to their revenue contribution to the market.
- The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the casino gaming equipment industry.
Market Dynamics
Drivers
- Rise in Number of Casinos
- Growth in Demand for Server-Based/Electronic Gaming Systems
- Increase in Preference for Slot Machines
Restraint
- Rise in Online Casino Gaming
Opportunities
- Product Innovation
Key Players
- Playags, Inc.
- Incredible Technologies, Inc.
- International Game Technology Plc
- Everi Holdings Inc.
- \Aristocrat Leisure Ltd.
- Euro Games Technology Ltd.
- Gamebridge Casino Equipment
- Jackpot Digital Inc
- Matsui Gaming Machine Co., Ltd
- The Novomatic Ag Group
For more information about this report visit https://www.researchandmarkets.com/r/8zpf2i
