Casino Management System Market will Expand 4X Through 2029, Finds Fact.MR Study
Published : 27 Mar 2020 Industry: Technology
The urgent need to increase customer retention by integrating advanced casino management systems is set to drive the growth of its market. Casino management systems once integrated with operations and services help casinos and gaming clubs to customize the gaming experiences as per the taste of individual customers. The global casino management system market is projected to grow at an astounding 14.5% CAGR during the forecast period (2019-2029).
Casinos and gaming clubs are leveraging industry 4.0 technologies such as artificial intelligence, and big data analytics to enhance customer experience and increase retention rates. As the gaming industry’s primary profit center is maintaining profitable customer relationships, casino management systems will witness a skyrocketing growth trajectory. For instance, enhanced marketing and promotional targeting based on consumer preferences increase the probability of sales.
Key Takeaways of Casino Management Market Study
- Security and surveillance applications hold a majority share of over 1/4th of the total market revenue. Improving security standards is a top priority for gambling clubs and companies, hence security and surveillance will register stellar growth through 2029.
- Analytics application of casino management systems accounts for the second largest market value share. This can be attributed to cohesive integration of big-data and consumer behavior analytics in casino management systems. The segment will grow 1.6X during the forecast period.
- North America accounts for the largest market value share of over 43%. Early adopters in this region are propellingl the demand for enhanced gaming experience both online and offline. This positively impacts the demand for casino management systems.
- Asia Pacific (East Asia and South Asia & Oceania) offer the most lucrative growth opportunities, owing to booming digital economies that are giving an uptick to the demand for online gambling.
“The demand for casino management systems is omnipresent in pro-gambling countries. The increase in spending on leisure activities by the millennial population in these countries paves way for a conducive environment for the growth of casinos and casino management systems.”Says Fact.MR Analyst
Disruptive Technology to Influence Market Growth
Disruptive technologies such as virtual reality, augmented reality, and advanced analytics present remunerative growth for companies. Favorable regulations with regards to casinos and gambling is furthering the demand for casino management systems. For instance, the Gaming Control Board is facilitating the development of GameCO, the world’s first video game gambling machine. Players will win based on their gaming skills rather than conventional luck based slot machines. Consumer trends in online gaming point towards a digital future of gambling, it also hints at casino management system providers to develop innovative product offerings. The future of global casino management systems is omnipresent integration with every operation of the gambling industry. Casino owners and gambling clubs are looking for end-to-end solutions that integrate different departments such as marketing and promotions, player tracking, property management, and account & cash management.
Find More Valuable Insights on Casino Management Systems Market
Fact.MR, in its new offering, provides an in-depth analysis of the global casino management systems market, displaying data on historical demand (2014-2018) and forecast data for the period, 2019-2029. The study provides readers with essential insights on the casino management systems market on the basis of applications (security & surveillance, analytics, account & cash management, player tracking, property management, marketing & promotions, and others), and across 6 key regions (North America, Latin America, Europe, East Asia, South Asia & Oceania, and Middle East & Africa).
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