The casino gaming equipment market is expected to reach more than $9 billion by 2024

NEW YORK, July 16, 2019 /PRNewswire/ -- The casino gaming equipment market is expected to reach more than $9 billion by 2024, growing at an impressive CAGR of around 6% during 2018–2024.

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The growing demand for mass-market gaming equipment, the increasing number of live casinos, the high adoption of AR and VR in gambling, and increasing innovations in slot machines are some of the upcoming trends and opportunities that are contributing in the growth of casino gaming equipment market.

The demand for electronic gaming tables (EGT) has increased due to improved customer experience, immense popularity among millennials, and high-level of enjoyable gameplay. EGTs have witnessed increased adoption in the global casino gaming equipment market. The APAC region is emerging as a dynamic market, and global players are looking forward to boosting their distribution channels in the region. With the growing demand for EGTs in casinos in the US, the market for EGTs is expected to grow during the forecast period. Thus, the augmented penetration of technology in the casino gaming equipment market is expected to increase the sale of electronic gaming tables in the coming years, and vendors are adopting innovative strategies to gain maximum market share.

The unprecedented growth of online gambling activities such as online casinos gaming and online betting has propelled the industry players to adopt new technologies to survive the competition. Thus, augmented reality and virtual reality have widely making inboards in the casino gaming equipment market.

The study considers the present scenario of the casino gaming equipment market and its market dynamics for the period 2018?2024. It covers a detailed overview of several market growth enablers, restraints, and trends. The study covers both the demand and supply sides of the market. The study profiles and examines leading companies and other prominent companies operating in the casino gaming equipment market.

The research report on the casino gaming equipment market covers sizing and forecast, market share, industry trends, growth drivers, and vendor analysis. The market study includes insights on market segmentation by demand type (new/expansionary and replacement), products (slot machine, gaming tablets, VLTs, video poker machines, gaming chips, and others), class type (class II machines, class III, and others), lottery machines (installed inside casinos and installed outside casinos), and geography (APAC, Europe, Latin America, MEA, and North America).

Casino Gaming Equipment Market: Segmentation
The market research report includes a detailed segmentation of the market by demand, products, class type, lottery machines, and geography. Casino gaming equipment vendors majorly earn revenue from the sale of casino gaming equipment via two sources–new or expansionary demand and replacement demand. The new/expansionary segment grew at an impressive CAGR in 2018, while the replacement segment is expected to grow moderately during the forecast period. In 2018, the replacement sales registered the highest revenue in North America, followed by APAC. The introduction of upgrades and innovations and the substitution of old legacy systems with innovative solutions with advanced features are majorly driving the replacement segment.

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