Global Casino Gaming Equipment Market 2020-2024 | Expansion of Casinos to Boost Market Growth | Technavio
The global casino gaming equipment market is expected to grow by USD 43.3 billion during 2020-2024, according to the latest market research report by Technavio. Request a free sample report
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Technavio has published a latest market research report titled Global Casino Gaming Equipment Market 2020-2024 (Graphic: Business Wire)
Casinos install a number of gaming equipment such as slot machines, casino tables, and poker machines. Over recent years, the market has witnessed a significant rise in the number of casinos across the world. For instance, in February 2019, Soboba Casino opened a new Soboba Casino Resort in California. Similarly, in July 2019, Wynn Resorts Holdings LLC opened its new casino, Encore Boston Harbor, in Boston, US. Many such expansion plans have increased the demand for casino gaming equipment, which is providing significant growth opportunities for market vendors. Hence, the increasing number of casinos are crucial in driving the growth of the global casino gaming equipment market.
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As per Tehnavio, the growing number of M&A activities will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Casino Gaming Equipment Market: Growing Number of M&A Activities
The strong presence of established regional players is posing a challenge for large players to enter new markets. Hence, vendors are adopting M&A strategies to improve their business as well as to expand their geographical reach. For instance, in December 2018, AGS acquired Integrity Gaming Corp., a Canadian slot machine developer. The acquisition helped AGS to expand its installed base to 2,700 slots in the US. Similarly, in November 2019, TPG Pace Holdings merged with Accel Entertainment. The rise in the number of M&A activities is expected to result in the development of advanced products. This trend will have a positive impact on the growth of the global casino gaming equipment market during the forecast period.
"Advent of innovative display solutions and the use of bitcoins in gambling will further boost market growth during the forecast period", says a senior analyst at Technavio.
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Casino Gaming Equipment Market: Segmentation Analysis
This market research report segments the casino gaming equipment market by type (Casino tables, Slot machines, Gaming chips, Video poker machines, and Others) and Geography (APAC, Europe, MEA, North America, and South America).
The North American region led the casino gaming equipment market in 2019, followed by APAC, Europe, South America, and MEA. However, during the forecast period, the APAC region is expected to register the highest incremental growth due to the increasing number of casinos and growing sports betting in the region.
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