Allied Market Research has published a report predicting that the global gaming equipment market will reach $13.2 billion by 2027 which eclipsing the $11 billion market in 2019, the last year prior to the pandemic.
The report breaks down the gaming equipment market by product type (Slot Machine, Video Lottery Terminal, Video Poker Machine, and Others), Installation (Installed Inside Casino and Installed Outside Casino), and Mode of Operation (Floor Mounted and Portable).
The study is billed as a “Global Opportunity Analysis and Industry Forecast, 2021–2027.” According to the report, the global casino gaming equipment industry was estimated at $11.02 billion in 2019, and is expected to hit $13.19 billion by 2027, registering a CAGR of 5.5 percent from 2021 to 2027.
“Several countries across the globe have liberalized the concept of casinos and accordingly, the number of casino establishments has also started to rise,” Allied Market Research said in a press release. “This factor fuels the growth of the global casino gaming equipment market. Also, increase in consumer interests and the fact that manufacturers are investing heavily in R&D to add smart gaming features have supplemented the growth yet more.
“On the other hand, rise in preference for online gambling restrains the growth to some extent. Nevertheless, rise in middle-class population and disposable income are expected to create multiple opportunities in the industry.”
Based on product type, the slot machines segment accounted for around two-fifths of the global casino gaming equipment market share in 2019, and is anticipated to rule the roost by the end of 2027. “Slot machines are extremely popular in the casino and gambling spaces across the globe,” the statement said. “This factor propels the segment growth. The video poker machines segment, on the other hand, would register the fastest CAGR of 5.9 percent throughout the forecast period.”
Based on installation, the installed inside casino segment contributed to more than three-fifths of the global casino gaming equipment market revenue in 2019, and is expected to lead the trail by the end of 2027, due to the expansion of existing casinos and opening of new casinos in both new and existing jurisdictions.