Categories: Market Research

Slot Machines Market Forecast 2024-2033: Growth Rate, Drivers, And Trends

The Slot Machines Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Slot Machines Global Market Report 2024, The slot machines market size has grown strongly in recent years. It will grow from $2.6 billion in 2023 to $2.79 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The growth in the historic period can be attributed to gambling and entertainment demand, casino industry growth, consumer leisure spending, innovation in game design, regulatory landscape.

The slot machines market size is expected to see strong growth in the next few years. It will grow to $3.63 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. The growth in the forecast period can be attributed to global tourism and integrated resorts, online gambling expansion, cultural acceptance of gambling, technological integration in gaming, innovations in game features. Major trends in the forecast period include enhanced player loyalty programs, blockchain integration for transparency, social gaming features, regulatory compliance and responsible gaming, collaborations with entertainment brands.

The rising revenue of casinos is expected to propel the growth of the slot machine market going forward. Casinos refer to structures or large spaces used for recreational purposes. These premises are also equipped with gambling gadgets, gambling tables, and so on. Slot machines are used in casinos for gambling purposes by generating random numbers from the slot machine and for entertainment. For instance, in February 2023, according to a report published by the American Gaming Association (AGA), a US-based gambling industry association, the revenue of commercial gaming increased from $53.0 billion in 2021 to $60.4 billion in 2022. Therefore, the rising revenue of casinos will drive the slot machine market.

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The slot machines market covered in this report is segmented –

1) By Type: Reel Slot Machines, Video Slot Machines, Multi-Denomination Slot Machines, Other Types

2) By Mode Of Operation: Floor Mounted, Portable

3) By Application: Casino, Other Applications

Technological advancement is the key trend gaining popularity in the slot machine market. Major companies operating in the slot machines market are focusing on integrating new technology with existing slot machines to make them more relevant to the new generation. For instance, in October 2022, Sightline Payments, a US-based cashless payment for the gaming industry company launched Project 250. Project 250 will fund the installation of digital payment technologies in 250,000 slot machines across the United States. Project 250 will allow casino owners to use Acres’ Foundation to modernize existing slot machines, allowing them to provide cashless services to their consumers in as little as 16 weeks. Sightline’s Mobile+ ecosystem works with the operator’s whole casino resort and loyalty program, and Sightline’s Play plus digital payments technology rounds out the cashless experience.

The slot machines market report table of contents includes: