Covid-19 impact: Automated Fingerprint Identification System Market Is Forecast To Reach $15.5 Billion By 2027

JUN 2020 | Report Format: Electronic (PDF)

The global casino management system market size is expected to reach USD 15.5 billion by 2027, expanding at a CAGR of 14.9%, according to a new study by Grand View Research, Inc. The growing demand for casino establishments and increasing social acceptance of casinos are expected to emerge as crucial factors for driving the market. The increasing use of technological solutions and systems across gambling clubs to boost operational efficiency will further drive the growth of the market.

North America emerged as the highest revenue generating segment in 2019 and is expected to witness a CAGR of 13.8% from 2020 to 2027. However, it is estimated that Asia Pacific will witness significant growth and will exhibit the fastest CAGR of 16.8% over the forecast period. The growth of the casino gaming industry, especially in Japan, China, and India, is expected to play a major role in propelling the demand for the systems over the forecast period. Governments across the region are gradually legalizing casino gaming, owing to several social and economic benefits. Rising number of gambling establishments and evolving customer preferences towards casino-style gaming is anticipated to boost market growth.

Casino operations involve a multitude of monetary transactions, which have resulted in an increase in the number of fraud and spoofing attacks. To safeguard against cheating, fraud, and other crimes, gambling club operators are heavily investing in security and surveillance solutions to ensure a safe gaming environment across the floor. Hence, security and surveillance systems have become a vital component of a casino management system enabling gaming club operators to monitor and manage security threats in real time. Video analytics, license plate recognition, facial recognition, and automated surveillance technologies are being increasingly implemented across gambling clubs, which is expected to spur market growth.

Casino management system incorporate analytic tools, management systems, player tracking, and other tools. The analytics segment of the casino management system is expected to witness the fastest CAGR of 16.3% over the forecast period. Casino management systems are expected to witness high penetration as gaming clubs become more data driven and analytical tools can help gain a competitive edge. Analytical tools offer varying insights on customer behaviour, game preferences, spending patterns, and win/loss probabilities. Such insights enable gambling club operators to deliver a personalized gaming experience, enhancing customer retention rate, and streamline gaming operations. However, emerging online gaming platforms are expected to gain increased market penetration owing to the evolving customer preferences, which is likely to hinder market growth.

To request a sample copy or view summary of this report, click the link below:
https://www.grandviewresearch.com/industry-analysis/casino-management-system-market
——————————————————————————————————————————
Further key findings from the study suggest:

The security and surveillance segment is expected to dominate the casino management system market and was valued at USD 1.2 billion in 2019. Advancements in automated security solutions is further expected to drive market growth in this segment

The analytics segment is expected to witness significant growth at a CAGR of over 16% from 2020 to 2027. Analytical tools are likely to witness increased adoption over the forecast period owing to varying insights offered, enabling operators to remain profitable

The player tracking segment was valued at USD 780.3million in 2019. Gaming club operators are incorporating digital technologies to deliver a more personalized gaming experience and drive customer retention rate

Asia Pacific is expected to witness the highest growth rate over the forecast period. Increased demand for gambling establishments coupled with changing consumer preferences and rising disposable income will augment regional market growth

Key players include International Game Technology (IGT); Micros Systems, Inc.; Aristocrat Leisure Limited; Konami Corporation; Bally Technologies; and Honeywell International, Inc. Key players are adopting organic and inorganic growth strategies such as investments in R&D, product innovation, and M&A activities to acquire larger market share.