The study, produced by reaseach firm Arizton, considers the present scenario of the North America 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 market study includes insights on market segmentation by demand type (new/expansionary and replacement) product types (slot machines, gaming tables, video lottery terminals (VLTs), video poker machines, gaming chips, and others), class types (class II machines, class III machines, others), and geography (North America (US and Canada)).
The study profiles and examines leading companies and other prominent companies operating in the North America Casino Gaming Equipment Market.
The market research report includes a detailed segmentation of the market by demand, product type, class type, and geography. In 2018, North America registered the highest revenue growth in new casino gaming equipment. Replacement and expansionary activities are likely to drive the future markets in the US and Canada.
North America is expected to incur a majority of revenue from gaming operations through the expansion of the casino industry during the forecast period. North America is the largest market in the world for vendors to earn recurring revenue from lease models. Well established gambling markets in Las Vegas and emerging destinations such as New York is a significant reason for this growth. The recurring equipment segment is expected to be major revenue contributor for equipment manufacturers worldwide.
Slot machines, gaming tables, VLTs, video poker machines, and gaming chips are the major sources of revenue for the North America market. Class II machines are mostly based on bingo matches. The North American market has been witnessing promising market dynamics for class II machines.
In 2018, North America was led by the US, where gambling is highly popular. The growing demand for EGTs has led to vendors increasing footprints in the market. The US is the largest revenue contributor to the casino gaming equipment market worldwide. The Canadian gambling market is dominated by cultural aspects and a rich society culture. The US casino industry recorded growth in 2018, and consumer spending on gaming witnessed an increase of 1%.
Gambling in Canada has emerged as a legally allowed and widely accepted leisure activity. Currently, gambling activities are allowed throughout the country and are regulated through territorial and provincial governments.
The rapidly changing technological environment could adversely affect vendors as customers expect innovations and upgrades in the gambling domain. The present scenario is forcing vendors to alter and refine their unique value proposition to achieve a strong market presence. Aristocrat, Scientific Games, IGT, Ainsworth, Konami, Incredible Technologies, Everi, and AGS are the key leading vendors in the market.
As a result of increased demand, the market has witnessed the entry of many vendors that are already present in the traditional gaming market. However, the online presence in the gambling market is set to become a major base for competition among players to gain an edge over other vendors in the market.
Source: GMB