Global Casino Management System Market Size, Share, Forecast Report, 2020-2027
The report provides rational insights along with historical and forecast data to aid in better understanding of the Global Casino Management System Market. The report provides a comprehensive analysis of key factors that are expected to drive the growth of the Casino Management System market. This study also provides a detailed overview of the opportunities along with the current trends observed in the target market.
The global casino management system market size was valued at USD 5.1 billion in 2019 and is expected to witness a CAGR of 14.9% over the forecast period. The surging demand for innovative technologies in the gaming industry is expected to spur the demand for casino management systems. The increasing legalization and rising number of gaming establishments is projected to be a key factor positively impacting the market growth in the near future. Additionally, growing number of gambling clubs worldwide is paving way for the growth of casino management systems market. For instance, according to American Gaming Association (AGA) the number of gaming clubs in U.S. stood at 979 in 2018. Thus the U.S. accounted for the highest number of casinos in the world.
The industry has been witnessing significant changes over the past few years in terms of technology, and gaming experience offered to patrons. Casinos are heavily reliant on customer retention and focus on improving the quality of services in a bid to deliver a much more personalized experience. Gaming clubs incorporate a variety of disparate systems that collect a wide range of data on customers and floor operations. Casino management systems offer a centralized system to collect data from various systems enabling gaming club operators to streamline their operations and enhance the customer retention rate.
Casino management systems incorporate a variety of functional modules that cater to various aspects of gaming club operations such as management systems, accounting and analytics tools, and security and surveillance systems. These tools and systems can track customer and employee activity across the gaming club floor and maintain a database for future reference. Furthermore, casino management system also provides various analytical software and tools that assists in analysing and understanding customer and employee behaviour in order to increase the operational efficiency.
The market is driven by the increasing social acceptance of casinos and expanding global casino footprint. Governments are permitting the establishment of gambling clubs in a bit to boost economic growth and promote international tourism. However, the legalization and rise of online gaming marketplaces has hindered the growth of the market. Also, stringent government regulations pertaining to gaming laws and regulations are further anticipated to restrain market growth.
The North America region has a mature casino market with over 1,700 operational casino establishments. The region is expected to dominate the market over the forecast period. Emerging economies including India, China, Brazil, and Middle Eastern countries are expected to witness significant growth over the forecast period owing to the ever improving economic conditions, increasing middle-class population coupled with rising disposable income
The report covers major players operating in the market along with the key strategies implemented to achieve a competitive edge against a majority of the vendors which provides a competitive outlook of the industry. The competitive landscape further includes details about different players and their position on a global and a local level is also explained in detail in this compiled study. These insights were prepared through mapping business strategies and products that offer high revenue generation capacities. Key players of the global Casino Management System market are included as given below:
The market is highly competitive, owing to the presence of various prominent players such as International Game Technology (IGT); Konami Corporation; Micros Systems, Inc.; LGS; Honeywell International, Inc.; Aristocrat Leisure Limited; and Next Level Security Systems, Inc. These market players particularly focus on entering into mergers and acquisitions and joint ventures/collaborations in order to enhance their market presence.
Lack of product differentiation has promoted vendors to constantly innovate and invest significant amounts towards R&D of advancement systems. Industry players have been focusing on organic and inorganic growth strategies such as R&D investments, product innovation, mergers and acquisitions, and value-added features to augment their product portfolios to meet the evolving needs of customers and gain a larger share of the market.
Casino management systems can include a variety of different modules depending on the gaming club’s requirements which cannot be fulfilled by a single vendor solution. Hence, vendors tend to develop open systems enabling the club’s operators to integrate third party solutions and hardware to gain optimal control of gaming operations. Vendors focusing on management systems, databases, security solutions and systems, and analytical tools are expected to gain market share and augment growth over the forecast period
The global Casino Management System market has been segmented as below:
Security & Surveillance
Accounting & Cash Management
Marketing & Promotions
- Global Casino Management System Market by Region
- North America
- Asia Pacific
- Rest of the World
Reasons to Purchase this Report:
Estimates Casino Management System development trends with SWOT analysis
- Detailed business profiles including product offerings, recent developments, key financial information, and strategies employed by main market players
- Analysis of various regions and countries that includes the demand and supply based actions, which consequently have a major influence on the market’s expansion
- Market dynamics scenario, along with growth opportunities for players in the years to come
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the mentioned forecast period
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects