Market Overview
The rise in attendance in casinos around the world is estimated to spur the casino gaming equipment market 2020. The industrial automation & equipment industry reports are produced by Market Research Future, which highlights market options for expansion. An income worth USD 20 billion is projected for the market at a 5.5% CAGR in the forecast period.
The mounting digitization trends in the casino business are estimated to increase the casino gaming equipment market share. The popularity of casino equipment such as slot machines and video poker machines among others are projected to enhance the overall global casino gaming equipment market in the coming years.
Segmental Analysis
The segmental scrutiny of the casino gaming equipment market is segmented on the basis of application, region, and type. The type-based segmentation of the casino gaming equipment market consists of video poker machines, slot machines, casino tables, gaming chips, and others. The application-based segmentation of the casino gaming equipment market comprises of mall, casinos, and others. Based on the regions, the casino gaming equipment market is segmented into the Asia Pacific, the Middle East, Latin America, Europe, and North America.
Detailed Regional Analysis
The regional examination of the casino gaming equipment market has been segmented into the casino gaming equipment market. The Asia-Pacific regional market is anticipated to retain the principal share in the casino gaming equipment market all the way through the forecast period. Due to the boost in foreign funding in improving casino gaming centers due to a vast population base and increasing growth in economies such as China, Japan, and India is projected to augment the demand and sale of casino gaming equipment. On the other hand, the regional market in Europe is anticipated to observe extensive growth due to strict government standards and rising demand for offline gaming from countries like Russia, Germany, Spain, and France. The North American region is also expected to show considerable development in the impending period. The US is the most important market in the North America regional casino gaming equipment market over the forecast period owing to escalating investments for the advance of new and upgradation of current casino gaming centers, particularly in Las Vegas and Pennsylvania.
Competitive Analysis
The instability in the forces of demand and supply is estimated to create a beneficial impact on the overall global market in the forecast period. The restoration and everyday operations are estimated to take some time, which will lead to intensive development of backlog in delivery. The financial assistance provided by the government around the world and trade bodies is estimated to salvage the situation in the coming years. The downturn effects visible in the market are estimated to stay a little longer due to the scale of impact on the global market. The need for prudent analysis of the market trends and demand projections is estimated to lead to formidable development in the market. The constraints of growth are expected to be significant and considerable support will be needed to transform the market effectively. The need to build sustainability into the core assets of the companies will help companies’ battle situations like the current pandemic more effectively.
The central competitors in the casino gaming equipment market are Aristocrat Leisure (Australia), Gaming Partners International, Inc. (US), Novomatic (Austria), Konami Holdings Corporation (Japan), PlayAGS (US), Incredible Technologies Inc (US), International Game Technology PLC (IGT) (UK), Everi Holdings Inc., (US), Scientific Games Corporation (US), and Abbiati Casino Equipment S.r.l. (Italy) to name a few.
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Industry Updates:
May 2020 TCS John Huxley Ltd, a casino equipment manufacturer, announced it had introduced a “Care & Protect” product range intended to assist gaming operators in guaranteeing they can provide their patrons securely as venues resume after the shutdown owing to the Covid-19 pandemic. In a press release, the firm, which is United Kingdom-based, said one of the first products in the range was a chip sanitizer.
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