Global Casino Gaming Equipment Market To Near $100B By 2021, Research Group SaysYear-Over-Year Growth Rate Estimated At 15 Percent |
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Global sales of casino gaming equipment will approach $100 billion by 2021, according to new data from research firm Technavio. The group said that the market is currently worth about $55 billion.
The London-based group said that the market will grow at an annual rate of 15 percent during the forecast period. Casino gaming equipment will serve a global betting market that is growing as well.
Late last year, a separate study by Dublin-based Research and Markets estimated that the amount of money won off of gamblers globally will be more than $630 billion by 2022.
The Technavio report lists casino tables, slot machines, gaming chips and video poker machines as the four major product segments, of which casino tables and slot machines accounted for more than half of the gaming equipment market share in 2016.
“The easing of government regulations related to casino markets is one of the major factors contributing to the growing demand for casino gaming equipment,” said Ujjwal Doshi, a lead analyst at Technavio for media and entertainment services research.
The group referenced efforts in the U.S. to legalize sports betting on a national level, which could lead to sports books in the majority of states. Americans bet about $150 billion each year through unregulated channels, according to the casino industry.
Another growth driver is the increasing online purchases of casino gaming equipment, according to Technavio. “The online sales of machines such as slot machines and video poker machines increased by nearly 14 percent in 2015 as compared to 2014,” the group found.
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