Market Research Future published a research report on “Casino Management System Market Research Report – Global Forecast till 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.
Market Research Future (MRFR)’s latest research study indicates that the casino management system market 2020 could reach a valuation of USD 7-8 billion by 2023. The growth rate of the market can be around 12-13% from 2018 to 2023 (review period). We will provide covid-19 impact analysis with the report. The COVID-19 impact on the market has been carefully assessed, post the coronavirus disease outbreak.
The COVID-19 outbreak has deeply impacted the casino industry across the world. Employees belonging to all the sectors in the casino industry, from commercial casinos to hospitality as well as restaurants to gaming equipment manufacturing are striving to deal with the government-imposed lockdown to deal with the pandemic. The Novel Coronavirus has created uncertainty among those that are dependent on jobs associated with gaming and hospitality. However, despite the mandatory lockdown as well as the economic crisis post SARS-CoV-2, companies in the casino industry are still paying their employees and are also offering health insurance coverage to them. Considering these aspects, it is safe to assume that the Casino Management System Market will remain strong, given the constant efforts by the government and vendors taking quick actions to mitigate the negative impact of SARS-CoV-2.
Top Boosters and Main Deterrents
The frequent technological innovations in the casino industry help boost the market growth for casino management system. The surge in legalization of gambling in certain regions along with the increasing number of casino establishments can also leave a positive impact on the worldwide market in the ensuing years.
The casino management system industry is also bolstered by the rising acceptance of casinos among people and the expanding casino footprint worldwide. Governments are increasingly permitting development of gambling clubs in an attempt to boost the economy as well as international tourism. Governments are also working on building casino houses in emerging countries like Philippines and Japan, which is considered to be a lucrative opportunity for leading casino owners as they can now take advantage of these untapped markets.
The emergence of artificial intelligence or AI and IoT has led to integration of connected assets in the casino industry, helping the operators to create an open channel for communication with players and also monitor customers on the basis of their behavior. This helps strategize the business operations and execute them effectively, resulting in higher demand for casino management systems. AI-based facial recognition system along with various other biometric systems is helping casino owners to boost the security of their premises.
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MRFR has listed Avigilon, Next Level Security Systems (Nlss), Agilysys, Advansys, Honeywell, Tcsjohnhuxley, Lodging and Gaming Systems (Lgs) Micros Systems, Hconn, Ensico Gaming D.O.O., Bally Technologies, Wavestore, International Game Technology, WIN Technologies Limited, Bluberi Gaming Technologies, Konami, as the significant contenders operating in the casino management system industry.
The top segments based on which the casino management system market has been reviewed include component as well as application.
The components of casino management system are slot machines, PoS terminals, security & surveillance, and others. Security and surveillance system types are IP cameras, Analogue Cameras, Video Recorders, DVR & NVR, Access Control, Alarm Systems and Surveillance Software, and more.
The applications of casino management system include human resources, analytics, security & surveillance, tracking and monitoring, accounting & cash management, among others.
The regional study of the casino management system market comprises Europe, North America, APAC or Asia Pacific, and RoW or the Rest of the world.
In 2017, North America procured the leading position in the global market, with Europe and APAC trailing behind. High technological penetration and a well-developed casino industry are considered some of the top growth boosters in the North American market. Leading casino owners in the region are increasingly taking up casino management systems to boost their customer retention, operational efficiency, in turn gaining an edge over their rivals. Some of the tech giants present in the region are Micros Systems Inc.; IGT; Konami Corporation; Bally Technology; CasInfo; Agilysys, Inc., who are also responsible for the top-notch market growth.
India, China, Philippines, Singapore and Japan are the most lucrative markets for casino management systems in APAC. The drastic surge in disposable income of the people, change in consumer preferences, and the increasing acceptance of gambling clubs induce business expansion in the region. The liberal government regulations with context to gaming clubs and the tax contribution benefits in the region also favor the casino management system market.
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