Casino Gaming Market to Grow by USD 43.3 Billion (2024-2028) as Customer Spending Power Increases; AI-Driven Market Transformation Report – Technavio | News

NEW YORK, Oct. 30, 2024 /PRNewswire/ — Report with the AI impact on market trends – The global casino gaming market size is estimated to grow by USD 43.3 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 3.2% during the forecast period. Growth in spending capability of customers is driving market growth, with a trend towards increasing use of social media marketing. However, difficulties in securing online payments poses a challenge.Key market players include Abbiati Casino Equipment S.r.l., ADP GAUSELMANN GMBH, AMATIC Industries GmbH, APEX pro gaming s.r.o, Aristocrat Leisure Ltd., Caesars Entertainment Inc., Eclipse Gaming Systems, Everi Holdings Inc., Incredible Technologies Inc., Interblock dd, International Game Technology plc, Jackpot Digital Inc., Konami Group Corp., Light and Wonder Inc., NOVOMATIC AG, PlayAGS Inc., Pockaj d.o.o., Rye Park LLC, TCSJOHNHUXLEY, and Universal Entertainment Corp..

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Key Market Trends Fueling Growth

Casino operators, both online and offline, are utilizing social media marketing strategies to attract customers due to the widespread use of smartphones and improved Internet connectivity. Social media platforms like Facebook, Twitter, Pinterest, Instagram, and YouTube are popular among consumers, who spend an hour to 3-4 hours daily on these sites. Social media marketing offers fewer restrictions compared to traditional methods, making it an effective advertising and brand promotion tool for casinos. Vendors employ strategies such as showcasing winning stories, introducing offers, emphasizing the fun and easy aspect of casino gambling, and creating brand engagement. Social media marketing objectives include raising awareness, encouraging new users, and engaging with consumers. Despite limited restrictions for responsible gambling messages, this approach positively impacts the casino gaming market, increasing user engagement and market growth during the forecast period. 

The Casino Gaming Market is experiencing significant growth due to the legalization of casinos in emerging economies and the rising disposable income of consumers. This industry includes various offerings such as gaming machines like slot machines, video poker machines, and electronic gaming machines, as well as table games like poker, craps, and blackjack. Advanced technologies like virtual reality (VR) and augmented reality (AR) are trending, offering gaming experiences. Mobile gaming and portable equipment are popular, with online gambling platforms and cryptocurrencies gaining traction. Skill-based gaming, including poker, is attracting casual and avid gamblers alike. Stringent regulations and high initial investments pose challenges, but industry reports indicate continued growth. Land-based casinos and online casinos both thrive, with jurisdictions implementing various laws and regulations, including age restrictions. Direct sales of gaming equipment and touch screens with multi-line displays and progressive jackpots are common features. Internet penetration and smartphone usage drive the market, with regulatory challenges and licensing requirements ongoing. 

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Market Challenges

• The global casino gaming market relies heavily on secure payment processing for credit and debit cards to maintain customer trust and confidence. Compliance with the Payment Card Industry Data Security Standard (PCI DSS) is essential for securing cardholder data and reducing financial fraud. However, the risk of financial fraud and hacked cards poses a significant challenge to the market’s growth. While some casino gaming companies can afford external digital security services, others may not have the budget for such investments. As a result, securing online payments remains a critical concern for the casino gaming industry, which could potentially hinder market expansion during the forecast period.
• The Casino Gaming Market faces several challenges in the current business landscape. Cryptocurrencies are gaining popularity among avid gamblers, requiring casinos to adapt and integrate this technology. Skill-based gaming is on the rise, making it essential for casinos to offer more of these types of games. Poker, Slot machines, and Video poker machines remain popular, but Casual gamblers and Dabblers prefer Digital table games and Mobile-compatible slot machines. Industry reports indicate that Internet penetration and Smartphones are driving the shift towards Online casinos. Regulatory challenges, including Licensing requirements, Jurisdictions, and Laws and regulations, pose significant hurdles. Age restrictions, Touch screens, and Multi-line displays are essential features for engaging Gambling enthusiasts and Lottery loyalists. Casinos must also contend with the rise of Virtual slot machines and Electronic games, as well as the increasing popularity of Cruise ships, Tourist attractions, and Social exuberant games like Craps, Lottery, Roulette, and Blackjack. Personal disposable income and Block chain technology are also crucial factors in the Casino gaming type. Regardless, the industry continues to evolve, offering an immersive gaming experience for all, from the Unengaged to the Social exuberant.

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Segment Overview 

This casino gaming market report extensively covers market segmentation by

1. Type 
   • 1.1 Land-based casino gaming
   • 1.2 Online casino gaming
2. Product 
   • 2.1 Slot machines
   • 2.2 Lottery ticket machines
   • 2.3 Electronic roulette
   • 2.4 Multiplayer game stations
   • 2.5 Gaming servers
3. Geography 
   • 3.1 North America
   • 3.2 APAC
   • 3.3 Europe
   • 3.4 South America
   • 3.5 Middle East and Africa

1.1 Land-based casino gaming- The land-based casino gaming market has long been a significant contributor to the global casino industry, providing entertainment through traditional games such as blackjack, roulette, poker, and craps. Land-based casinos remain popular destinations for tourists, offering an unparalleled atmosphere with neon lights, slot machine sounds, and social interaction. However, the industry faces competition from online gaming. While some land-based casinos have lost revenue due to this shift, they have responded by introducing new attractions, luxurious amenities, and expanding their properties to remain competitive. The land-based casino gaming segment is expected to experience moderate growth during the forecast period.

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Research Analysis

The Casino Gaming Market is experiencing significant growth due to the legalization of casinos in various regions and the rising disposable income of consumers. High-quality gaming equipment, including gaming machines like slot machines, video poker machines, and electronic gaming machines, are in high demand. Advanced technologies such as virtual reality (VR) and augmented reality (AR) are revolutionizing the industry, providing gaming experiences. Mobile gaming and online gambling platforms are also gaining popularity, with mobile-compatible slot machines and touch screens becoming standard. Cryptocurrencies are being adopted for transactions, adding convenience and security. Skill-based gaming, including poker, is attracting a new demographic. Industry reports indicate that emerging economies are driving growth, but stringent regulations and laws and regulations must be navigated. Internet penetration is expanding access to online casinos, while multi-line displays and progressive jackpots add excitement to land-based casinos. Overall, the casino gaming market is evolving rapidly, offering endless opportunities for innovation and growth.

Market Research Overview

The casino gaming market encompasses a wide range of offerings, including casinos, gaming machines such as slot machines, tables like poker, craps, roulette, and blackjack, and various forms of legalization. The market is driven by rising disposable income and the growing popularity of casinos as recreational activities in emerging economies. However, stringent regulations and high initial investment pose challenges. Advanced technologies like virtual reality (VR), augmented reality (AR), mobile gaming, and portable equipment are transforming the industry. Online gambling platforms, cryptocurrencies, and skill-based gaming are also gaining traction. Casinos come in various forms, including land-based and online, with slot machines, video poker machines, electronic gaming machines, and touch screens featuring multi-line displays and progressive jackpots. Casual gamblers and avid gamblers, dabblers and gambling enthusiasts, social exuberants and the unengaged, all find their place in this diverse market. Industry reports provide insights into trends, regulatory challenges, licensing requirements, jurisdictions, and laws and regulations, including age restrictions and mobile-compatible slot machines. Digital table games, lottery, and cruise ships are other significant areas of growth. Block chain technology is also being explored for its potential in enhancing security and transparency. Overall, the casino gaming market offers gaming experience for a global audience.

Table of Contents:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation

• Type
• Land-based Casino Gaming
• Online Casino Gaming
• Product
• Slot Machines
• Lottery Ticket Machines
• Electronic Roulette
• Multiplayer Game Stations
• Gaming Servers
• Geography
• North America
• APAC
• Europe
• South America
• Middle East And Africa

7 Customer Landscape

8 Geographic Landscape

9 Drivers, Challenges, and Trends

10 Company Landscape

11 Company Analysis

12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research

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UK: +44 203 893 3200

Email: media@technavio.com

Website: www.technavio.com/

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SOURCE Technavio