Casino Gaming Equipment Market Estimated to Grow with a Healthy CAGR during Forecast Period 2021-2023| COVID-19 Analysis
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:
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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