Casino Gaming Equipment Market Overview
The floor-mounted segment leads the market, projected to reach $7,937.0 million by 2027, growing at a CAGR of 5.2%.
Market Valuation and Growth
The global casino gaming equipment market was valued at $11,026.3 million in 2019 and is expected to grow to $13,191.8 million by 2027, reflecting a CAGR of 5.5% from 2021 to 2027. An incremental revenue opportunity of $3,641.6 million is anticipated during this period, driven by an increase in casinos, heightened demand for electronic gaming systems, and a growing interest in slot machines.
Factors Driving Market Expansion
Rising disposable incomes in developing nations have positively impacted the casino gaming sector, as more consumers are visiting casinos. This trend has led to an increase in the number of casino establishments and, consequently, a greater demand for gaming equipment. Technological advancements in electronic gaming machines also provide significant opportunities for manufacturers, while government regulations in several countries have facilitated growth.
Impact of COVID-19
The COVID-19 pandemic adversely affected the casino gaming equipment market, causing reduced capital spending and lower revenue from gaming operations due to venue closures and social distancing measures starting March 2020. Delays in supply chains and the worldwide closure of casinos further compounded these challenges.
Key Market Participants
Major players in the casino gaming equipment market include 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., and The Novomatic Ag Group.
Market Segmentation Insights
In terms of product type, slot machines were the largest segment in 2019, valued at $4,479.50 million, and are projected to reach $5,129.80 million by 2027, growing at a CAGR of 5.0%. The inside casino installation segment dominated the market with $7,001.8 million in 2019, expected to grow to $8,117.0 million by 2027. Meanwhile, the floor-mounted category retained its lead with $6,801.7 million in 2019, forecasted to hit $7,937.0 million by 2027 at a CAGR of 5.2%.
Regional Market Dynamics
North America was the leading market for casino gaming equipment in 2019, due to its high number of casinos and demand for gaming equipment. However, the Asia-Pacific region is projected to experience significant growth during the forecast period.
