SAN FRANCISCO, September 10, 2018 /PRNewswire/ --
The global casino management system market size is expected to reach USD 11,726.7 million by 2025, according to a new study by Grand View Research, Inc., progressing at a CAGR of 14.8% during the forecast period. Growing demand for these establishments and increasing social acceptance are expected to emerge as crucial factors for driving the market. Increasing use of technologically advanced solutions and systems across the casino floor to boost operational efficiency will further drive growth in the casino management system market.
North America emerged as the highest revenue generating segment in 2016 and is expected to grow at a CAGR of 13.5% from 2017 to 2025. However, it is estimated that Asia Pacific will witness significant growth and will grow with the fastest CAGR of 17.0% 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 over the forecast period. Governments across the region are gradually legalizing casino gaming, owing to the various social and economic benefits. A rising number of these establishments and evolving customer preferences towards casino-style gaming will boost the casino management system market over the next nine years.
It involves a multitude of monetary transactions which has resulted in an increase in the number of fraud and spoofing attacks. To safeguard against cheating, fraud and other crimes, operators are heavily investing in security & surveillance solutions to ensure a safe gaming environment across the casino floor. Hence, security & surveillance systems have become a vital component of a casino management system enabling casino operators to monitor and manage security threats in real time. Video analytics, license plate recognition, facial recognition and automated surveillance technologies are being implemented increasingly which is expected spur the casino management system market growth.
These systems incorporate analytic tools, management systems, player tracking, and other tools. The analytics segment is expected to grow with the fastest CAGR of 16.2% over the forecast period. These systems are expected to witness high penetration as casinos 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, among others. Such insights enable 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 the market growth.
Browse full research report with TOC on "Casino Management System Market Size, Share & Trends Analysis Report By Application (Security & Surveillance, Accounting & Cash Management, Player Tracking, Property Management, Marketing) And Segment Forecasts, 2018 - 2025" at: https://www.grandviewresearch.com/industry-analysis/casino-management-system-market
Further Key Findings From the Report Suggest:
- The security & surveillance segment is expected to dominate the overall market, and was valued at USD 757.6 million in 2016. Advancements in automated security solutions is further expected to drive market growth in this segment.
- Analytics segment is expected to witness significant growth at a CAGR of over 16% from 2017 to 2025. 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 512.6million in 2016. 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 these establishments coupled with changing consumer preferences and rising disposable income will augment the market growth.
- Global players include International Game Technology (IGT), Micros Systems, Inc., Aristocrat Leisure Limited, Konami Corporation, Bally Technologies, and Honeywell International, Inc., among others.
- 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.
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Grand View Research has segmented the global casino management system market on the basis of application, and region:
- Casino Management System Application Outlook (Revenue, USD Million; 2014 - 2025)
- Security & Surveillance
- Accounting & Cash Management
- Player Tracking
- Property Management
- Marketing & Promotions
- Casino Management System Regional Outlook (Revenue, USD Million; 2014 - 2025)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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SOURCE Grand View Research, Inc.