What is Slot machines Market?
The slot machine is a type of a machine in which the user put money into in order to play a game. It is also known as fruit machine, puggy, the slots, poker machine. It includes one or more currency detectors, which is used to validate the numerous form of payment such as coin, cash, token and others. Increasing usage of slot machines in various application such as casino, gaming halls, among others are some of the major factors which affect the growth of slot machine market in the future.
The market study is being classified by Type (Reel Slot Machine, Video Slot Machine, Multi-denomination Slot Machine and Other), by Application (Casino, Gaming Halls and Others) and major geographies with country level break-up.
Ainsworth Game Technology (Australia), Universal Entertainment Corporation (Japan), Konami Gaming Inc. (United States), Gaming Partners International Corporation (United States), Everi Holdings Inc. (United States), Aristocrat Leisure Limited (Australia), ASTRO Gaming (United States), Scientific Games Corporation (United States), Galaxy Entertainment Group (Hong Kong) and Novomatic (Austria) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are IGT (United States), Aristocrat Leisure Limited (Australia), Ainsworth Game Technology (Australia) and Multimedia Games, Inc. (United States).
The slot machine market appears to be highly fragmented and with the presence of several companies including Ainsworth Game Technology (Australia), Universal Entertainment Corporation (Japan), Konami Gaming Inc. (United States), among others. Research Analyst at AMA predicts that United States Vendors will contribute to the maximum growth of Global Slot machines market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Slot machines market by Type, Application and Region.
On the basis of geography, the market of Slot machines has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Rising Tax Revenues Generated From Slot Machines across the World
- Changing Life Style among Teenager and Rising Demand from Various Application Such as Gaming Halls
Market Trend
- The popularity of Reconfigurable Electronic Gaming Machines
- Rising Adoption of VR in the Slot Machine Market and SoundTracking In Slot Machines
Restraints
- Stringent Regulation in Some Countries for Playing Casino and Gambling Games
- Problem Related To High Prices of Slot Machines Products
Opportunities
- Government Initiatives to Verify and Check the Legality of Vendors and Offer Fair Globally
- Growing Demand from the Emerging market such as China, India, Brazil, among others
Challenges
- Lack of Awareness of Slot Machines in Underdeveloped Countries Such As Africa
- Major Concern Regarding the High Degree of Competition within the Slot Machine Market
In January 2019, the Casino Technology, Inc. (United States) Company has launched new high-end slot machines, which is widely used in casinos and gaming halls. Hence, would help in the expansion of the product portfolio of the company. and In March 2019, the Scientific Games Corporation (United State) Company has launched Munchkinland, which is the wizard of OZ series of slot games. Therefore, will help to enhance the growth of the revenue.
Various countries have regulated regarding the usage of slot machines. For instance, countries such as the United States, the public and private availability of slot machines is extremely regulated by state governments. In addition, the government of the United States has also established gaming control boards in order to regulate the possession and use of slot machines. Hence, it may hamper the growth of the market in the future.
Key Target Audience
Slot Machine Manufacturers, Traders and Distributors of Slot Machine, Research and Development Institutes, Potential Investors, Raw Material Suppliers, Nationalized Laboratories and Others