Sales Of Casino Management System To Register 14.5% CAGR Amid Increasing Fraudulent Activities In Gaming & Gambling Industry

The latest Fact.MR study on the casino management system market explores key growth factors impacting sales. The study then goes on to describe major market factors like market drivers, challenges, and opportunities. The report is divided into applications and regions to make the material more visually appealing.

The global casino management system market is expected to expand at a 14.5% CAGR through 2022 and beyond. The emergence of online gaming solutions in casinos around the world is expected to drive industry growth. With the growing popularity of leisure activities such as gambling, there will be a greater demand for casino management systems to manage cash overflow and decrease criminal activity.

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These systems help businesses manage financial services, cashless ticketing, table slot management, and other functions. According to the study, fraudulent actions in gaming and gambling increased by over 35%, particularly with licencing and policy agreement violations. Due to the increasing prevalence of fraud, cash, and data theft, casinos are implementing management systems for security and surveillance.

According to Fac.MR, with increasing digital growth and use of social media and online gambling apps, fraud attempts are surging over the world. As a result, significant firms are building casino management systems that include high-tech capabilities like facial recognition and big data analytics.

Some of these players are also building systems with behavioural analytics and large amounts of data to reduce cheating tactics. As a result of these reasons, the analytics market is predicted to increase at a 16% CAGR until 2029. Furthermore, the use of technologies such as natural language processing (NLP), machine learning (ML), and artificial intelligence (AI) would boost market growth.

North America is projected to experience lucrative growth prospects in the casino management system industry. The expanding number of casinos in the United States is primarily driving growth in the region. According to the survey, sales in North America are predicted to increase by 3.2x over the next decade.

Key Takeaways:

  • Over 64% of revenue is expected to be contributed by North America and Europe, collectively, in 2029.
  • Demand for casino management systems in South Asia & Oceania is predicted to burgeon at 17% CAGR during the forecast period.
  • East Asia is expected to witness impressive growth at 16% CAGR over the upcoming decade.
  • The U.S. and Mexico are expected to be the most remunerative countries in the casino management system market.
  • In terms of application, the security & surveillance segment is expected to account for over 25% of sales in the market.

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Growth Drivers:

  • Surging need for security and surveillance in casinos and hotels to reduce the criminal activities is expected to drive the demand in the market.
  • Integration of advanced technology such as facial recognition, big data, and artificial intelligence in these systems will propel the growth in the market.
  • Increasing number of casinos in the U.S., Japan, and China will improve the adoption of casino management systems.

Restraints:

  • Growing popularity of online gambling apps and platform might limit the demand in the market.
  • Decline in the revenues of casino and operations due to rising awareness towards obsessive gambling is likely to hamper the sales.
  • Lack of skilled IT professionals and high cost of these systems might impede the growth in the market.

Competitive Landscape:

Key companies profiled in the market are focusing on developing digitally advanced and virtual management systems to gain competitive edge in the market. They are also integrating advanced technologies such as disruptive block chain technology, machine learning, and real-time big data analytics to provide accurate and unique data and gain revenue.

For instance,

  • In April 2022, Acres Manufacturing Company, a global casino loyalty and technology developer, announced the launch of its bonusing platform, Precision Bonusing, compatible with any slot machine which is connected to the company’s casino management system.
  • In May 2022, leading gaming giant International Game Technology PLC announced the launch of its IGT advantage casino management system and partnered with NUSTAR Resort and Casino in Cebu, Philippines.

Key Companies Profiled by Fact.MR

  • Konami Corporation
  • Agilysys Inc.
  • Bally Technologies
  • Casinfo Systems
  • International Game Technology (IGT)
  • LGS (Lodging and Gaming Systems)
  • Micros Systems Inc. (Oracle Corporation)
  • Honeywell International Inc.
  • Next Level Security Systems Inc.
  • Aristocrat Leisure Limited.

More Valuable Insights on Casino Management System Market

In the latest study, Fact.MR offers a detailed study on global casino management system market for the forecast period of 2019 to 2029. This study also highlights key drivers promoting the sales of casino management system through detailed segmentation as follows:

By Application:

  • Security & Surveillance
  • Analytics
  • Accounting & Cash Management
  • Player Tracking
  • Property Management
  • Marketing & Promotions
  • Others

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East & Africa

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Key Questions Covered in the Casino Management System Market Report

  • At what rate will the global casino management system market grow until 2029?
  • Which are the factors hampering the growth in the casino management system market?
  • Which region is expected to dominate the global casino management system market?
  • Which are the factors driving the casino management system market during the forecast period?
  • Which is the chief application of casino management systems?

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