Global Slot Machine Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Slot Machine Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Slot Machines are casino gambling machines with three or more reels which spin when a button is pushed. Slot Machines are also known as one-armed bandits because they were originally operated by one lever on the side of the machine as opposed to a button on the front panel, and because of their ability to leave the player in debt and impoverished.

Market Overview:

The latest research study on the global Slot Machine market finds that the global Slot Machine market reached a value of USD 2515.41 million in 2022. It’s expected that the market will achieve USD 4126.55 million by 2028, exhibiting a CAGR of 8.6% during the forecast period.

COVID-19 and the rapid growth of online gambling

The outbreak of COVID-19 is limiting the gambling market in 2020 as governments impose worldwide embargoes and restrict domestic and international travel, thereby limiting the demand for the services offered at these venues. During the COVID-19 pandemic in 2020, all slot machine establishments in Australia were shut down to curb the spread of the virus. Effectively reducing the use of slot machines in Australia to zero.

One of the important downstream industries, the presence and operation of casinos has a huge impact on slot machines. Trends in domestic and international tourism are critical to casino operators, as visitors are an important source of demand for gaming and accommodation. Trends in high-end tourism are particularly important, as high-net-worth visitors account for a significant portion of industry revenue. Demand for casinos typically increases as visitor occupancy increases, providing opportunities for casino operators. And travel ban restrictions prevent overseas visitors from entering areas where slot machines are legal.

On the other hand, the casino industry is very sensitive to changes in household disposable income. Increases in discretionary income typically allow patrons to spend more money on non-essential activities such as slot machines, which has had a positive impact on industry operators. The decline in real household disposable income also reduced player spending on slot machines as the economic impact of the COVID-19 outbreak led to higher unemployment.

Growth Opportunities Analysis

Emerging Markets
Those emerging markets, include Asia and Africa, with the progress of economy, the continuous growth of the gaming industry, the improvement of laws and regulations, the demand for slot machines has also expanded, the market of slot machines have great market potential in those emerging markets. The diversity of business opportunities in Asia has been growing for the past few years, but the significant trends that would define the industry perspectives for the future would include the multi-channel betting solutions for players. In line with this, operators are searching for complete solutions and collaboration with leading suppliers, whose added value can bring leading technologies, experiences and high-end standards implemented into the business approach.

Market Growth Drivers

Regulatory compliance
Ease of government regulations is one of the crucial driving factors for the growth of the slot machines market. Europe, Australia, USA and Japan are the main markets for slot machines. The main reason for the development of these markets is the legitimacy of slot machines in these regions. Slot machines are one of the major revenue contributors to any country despite stringent government regulations across the globe. Employment opportunities coupled with communal welfare funding is anticipated to propel the demand for slot machines. Increasing tax revenues generated from slot machines is a key driving factor for the legalization of online gambling. Government initiatives to verify and check the legality of vendors and offer fair opportunities to other market players is expected to drive the growth potential of the slot machine market.

Region Overview:

From 2023-2028, North America is estimated to witness robust growth prospects.

Company Overview:

Aristocrat is one of the major players operating in the Slot Machines market, holding a share of 21.41% in 2022.

Aristocrat

Aristocrat, together with its subsidiaries, engages in the development, assembly, sale, distribution, and servicing of games and systems in the Americas, Australia, New Zealand, and internationally. The company offers gaming content; and platforms and systems, including electronic gaming machines, digital social games, and casino management systems, as well as social web and mobile gaming services. It also provides cabinets and gaming products.

Scientific Games

Scientific Games is a leading innovator in the global lottery and regulated gaming industries. Beginning with the breakthrough technology that launched the world’s very first secure instant lottery game in 1974, the company has continued to advance the games, technology, programs, marketing research and security that have been a driving force behind the success of more than 300 customers on six continents over the last 40 years.

Segmentation Overview:

By type, Video Reel segment accounted for the largest share of market in 2022.

Video Reel

A video reel slot machine operates on the same principle as the reel machine, except the reels are displayed via a video screen. Bonus screens are also featured which allow players to increase winnings by participating in an animated bonus round. Players can press buttons or simply touch the screen to initiate play.

Mechanical Reel

Mechanical reel slots play host to a physical reel that spins. With the unending technological advances, video reel slots have recently become a bit more popular than mechanical reel slots.

Video Poker

Video poker is poker played on slot machines. Unlike other slot machines based simply on the luck of the spin, Video Poker incorporates skill, players having a chance to make decisions and control the results.

Application Overview:

By application, the Replacement segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Slot Machine market covered in Chapter 3:

Aristocrat
International Game Technology (IGT)
Ainsworth Game Technology
Universal Entertainment
PlayAGS
Konami Gaming
Scientific Games
Incredible Technologies
Euro Games Technology (EGT)
Merkur Gaming
Zitro Games
Grand Vision Gaming
Everi
Novomatic

In Chapter 4 and Chapter 14.2, on the basis of types, the Slot Machine market from 2018 to 2029 is primarily split into:

Video Reel
Mechanical Reel
Video Poker
Multi-determination Slot Machines
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Slot Machine market from 2018 to 2029 covers:

New/ expansion
Replacement

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)