The global slot machine market is projected to witness substantial growth in coming years attributed to growing popularity of casinos and gambling across the globe. Slot machines are casino gambling machines having multiple reels that spin when a button is pushed. They validate and detect currency inserted by the player or gambler. The system pays off according to symbols displayed on the front when the reels stop.
Supportive government initiatives to verify legality of service providers is anticipated to propel market growth. Communal welfare funding and employment opportunities offered by casino gambling machines can stimulate growth of market. In addition, revenue generated from casinos can be used for social development, which is further likely to gain traction among local audience. Easy availability of gambling machines on online platforms can boost sales and market revenue in coming years. Increasing use of advanced technologies in these systems, such as virtual reality (VR), can gain traction among consumers. Moreover, growing adoption of reconfigurable electronic gaming machines among casinos can spur growth of market in coming years. Shifting preference for advanced machines over conventional ones owing to configurable options can positively influence market growth.
Availability of alternatives to earn money rather than gambling can hamper market growth. Launch of new games and mobile applications offering unique features can create lucrative opportunities for the market.
The market can be segmented on the basis of type, technology, and application. Based on type, the market can be bifurcated into digital and manual. In terms of technology, the market can be categorized into video slot, random number creators, computerization, reels, payout percentage, linked machines, and jackpot errors. Based on application, the market can be classified into casinos and others.
Europe is expected to hold the largest share in the market attributed to rising adoption of radical skill based machineries and launch of new and advanced games. For instance, Casino Football launched hundreds of new slot machine games in collaboration with NetEnt and Microgaming. Games, including Cleopatra Slots, Da Vinci Diamonds, and Rainbow Riches are gaining traction among players. The website is mobile friendly as it offers payment methods, such as Paypal and BOKU. In addition, this online casino is licensed by the U.K. Gambling Commission and Gibraltar Gambling Commission. Similarly, Realistic Games launched a new game called Spin Dizzy for players. The game is filled with pots of gold, toadstools, and four-leaf clovers. It also features free spins bonus round, wherein the player can either win a wild symbol or a free spin.
North America is expected to witness significant growth in coming years owing to presence of a large number of casinos. Legalization of gambling in countries, such as Mexico, Canada, and the United States, can boost regional market growth in coming years. Launch of online games by local companies is likely to gain traction among players across the globe. For instance, Scientific Games Corporation announced launch of its new mobile app called Monopoly Slots. The game offers new functionality and features to engage players. Players can download this game from Google Play, Apple App store, Amazon App store, and Facebook. Similarly, International Game Technology launched new game in collaboration with Caesars Entertainment named Hangover Slots. Caesars Entertainment is the first casino operator to feature the game at its selected properties.
Asia Pacific is likely to emerge highly lucrative in coming years. Countries, such as Japan is expected to hold the largest share in the market owing to presence of a large number of casinos. Launch of new games and mobile apps by local companies to attract new and existing players can stimulate regional market growth in future. For instance, Universal Entertainment Corporation launched a new social casino app named Slots Street, combining slot machine gameplay. The app is available for both Android and iOS platforms. Players can opt between two different video modes, including adventure and casino. They can also share data with other players by linking the app with its Facebook version.
Some of the leading companies operating in the slot machine market are Galaxy Entertainment Group, Scientific Games, Novomatic Group, Aristocrat Leisure, and Gaming Partners International.
Research Support Specialist, USA