The global casino gaming equipment market size is expected to reach USD 15.31 billion by 2028, according to a new report by Million Insights. It is expected to expand at a CAGR of 4.7% from 2021 to 2028. The liberalization of casinos in several countries and increased spending on gambling are the major factors driving the market. Increasing customer footfall forces casino operators to increase the casino gaming equipment to meet consumer demand.
Casino Gaming Equipment Market Report Highlights
- North America captured the largest share of over 38.0% in 2020. The U.S., Canada, and Mexico are significantly contributing to the regional market growth
- By product type, the casino tables segment is projected to expand at the fastest CAGR of 5.4% from 2021 to 2028 as table games are most popular among the professional gamblers
- Asia Pacific is projected to register the fastest CAGR of 5.3% from 2021 to 2028. The presence of a large number of global players and the increased popularity of gambling will drive the regional market growth
- The slot machines product type segment held the largest share of more than 50.0% in 2020. The affordability and popularity of slot machines and the availability of different games on slot machines will drive the segment in the years to come
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The increased intervention of technology will boost market growth. Gambling is a big business all around the world, and almost every country has casinos. The growing popularity of gambling attracts big players and encourages them to expand casinos all around the world. Gaming equipment with trending games is essential for every casino to keep the consumers engaged, thereby fueling the market growth.
Increased middle-class population, rise in disposable income, and augmented spending on gambling will drive the market globally. In addition, manufacturing companies are coming up with technologically advanced products to meet the casinos’ increased demand for digital gaming to provide a better gaming experience.
The economic slowdown in the COVID-19 pandemic has had a negative impact on market growth. As most of the countries worldwide faced the lockdown, like other industries, the gaming industry also witnessed a slowdown in economic growth during the pandemic period. However, it is expected that as things get normalized post-2021, the industries are expected to pace up their operations and thus, in turn, open new growth opportunities for the market in the upcoming years.
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