Press release
Slot Machines Market Growth, Size, Analysis, Trends 2024-2033
Slot Machines Market Growth
According to The Business Research Company's, The slot machines market size has grown strongly in recent years. It will grow from $2.6 billion in 2023 to $2.79 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The growth in the historic period can be attributed to gamblin*g and entertainment demand, casin*o industry growth, consumer leisure spending, innovation in game design, regulatory landscape.
The slot machines market size is expected to see strong growth in the next few years. It will grow to $3.63 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. The growth in the forecast period can be attributed to global tourism and integrated resorts, online gamblin*g expansion, cultural acceptance of gamblin*g, technological integration in gaming, innovations in game features. Major trends in the forecast period include enhanced player loyalty programs, blockchain integration for transparency, social gaming features, regulatory compliance and responsible gaming, collaborations with entertainment brands.
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Market Drivers and Trends:
The rising revenue of casin*os is expected to propel the growth of the slot machine market going forward. casin*os refer to structures or large spaces used for recreational purposes. These premises are also equipped with gamblin*g gadgets, gamblin*g tables, and so on. Slot machines are used in casin*os for gamblin*g purposes by generating random numbers from the slot machine and for entertainment. For instance, in February 2023, according to a report published by the American Gaming Association (AGA), a US-based gamblin*g industry association, the revenue of commercial gaming increased from $53.0 billion in 2021 to $60.4 billion in 2022. Therefore, the rising revenue of casin*os will drive the slot machine market.
Technological advancement is the key trend gaining popularity in the slot machine market. Major companies operating in the slot machines market are focusing on integrating new technology with existing slot machines to make them more relevant to the new generation. For instance, in October 2022, Sightline Payments, a US-based cashless payment for the gaming industry company launched Project 250. Project 250 will fund the installation of digital payment technologies in 250,000 slot machines across the United States. Project 250 will allow casin*o owners to use Acres' Foundation to modernize existing slot machines, allowing them to provide cashless services to their consumers in as little as 16 weeks. Sightline's Mobile+ ecosystem works with the operator's whole casin*o resort and loyalty program, and Sightline's Play plus digital payments technology rounds out the cashless experience.
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Major Key Players of the Market:
AMATIC Industries GmbH; APEX pro gaming AS; APOLLO SOFT s.r.o.; Aristocrat Leisure Ltd.; International Game Technology plc; Konami Gaming Inc.; Universal Entertainment Corp.; Multimedia Games; NetEnt AB; Wms Gaming Solutions India Private Limited; Bally Technologies Inc.; Blueprint Gaming Ltd.; New Sun Yu Enterprise Co. Ltd.; Ainsworth Game Technology; ASTRO Corp.; Everi Holdings Inc.; Eclipse Gaming Systems LLC; Incredible Technologies Inc.; Interblock dd; Inspired Entertainment Inc.; Bellatrix S.R.L; Bell-Fruit Games; Bergmann Precision Inc.; casin*o Garage LLC; casin*oparts.net; Castle Hill Gaming; Certus Gaming USA Inc.; Goyo Corporation; GPS - Game Power System Co. Ltd.
Slot Machines Market 2024 Key Insights:
• The slot machines market will grow to $3.63 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%.
• casin*o Boom Fuels Slot Machine Market Growth
• The Rise Of Technology Integration And Cashless Payments With Sightline Payments Project 250
• North America was the largest region in the slot machine market in 2023
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