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Casino Gaming Market to Grow by USD 43.3 Billion (2024-2028) as Customer Spending Power Increases; AI-Driven Market Transformation Report – Technavio

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NEW YORK, Oct. 30, 2024 /PRNewswire/ — Report with the AI impact on market trends – The global casino gaming market size is estimated to grow by USD 43.3 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 3.2% during the forecast period. Growth in spending capability of customers is driving market growth, with a trend towards increasing use of social media marketing. However, difficulties in securing online payments poses a challenge.Key market players include Abbiati Casino Equipment S.r.l., ADP GAUSELMANN GMBH, AMATIC Industries GmbH, APEX pro gaming s.r.o, Aristocrat Leisure Ltd., Caesars Entertainment Inc., Eclipse Gaming Systems, Everi Holdings Inc., Incredible Technologies Inc., Interblock dd, International Game Technology plc, Jackpot Digital Inc., Konami Group Corp., Light and Wonder Inc., NOVOMATIC AG, PlayAGS Inc., Pockaj d.o.o., Rye Park LLC, TCSJOHNHUXLEY, and Universal Entertainment Corp..

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Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Type (Land-based casino gaming and Online casino gaming), Product (Slot machines, Lottery ticket machines, Electronic roulette, Multiplayer game stations, and Gaming servers), and Geography (North America, APAC, Europe, South America, and Middle East and Africa)

Region Covered

North America, APAC, Europe, South America, and Middle East and Africa

Key companies profiled

Abbiati Casino Equipment S.r.l., ADP GAUSELMANN GMBH, AMATIC Industries GmbH, APEX pro gaming s.r.o, Aristocrat Leisure Ltd., Caesars Entertainment Inc., Eclipse Gaming Systems, Everi Holdings Inc., Incredible Technologies Inc., Interblock dd, International Game Technology plc, Jackpot Digital Inc., Konami Group Corp., Light and Wonder Inc., NOVOMATIC AG, PlayAGS Inc., Pockaj d.o.o., Rye Park LLC, TCSJOHNHUXLEY, and Universal Entertainment Corp.

Key Market Trends Fueling Growth

Casino operators, both online and offline, are utilizing social media marketing strategies to attract customers due to the widespread use of smartphones and improved Internet connectivity. Social media platforms like Facebook, Twitter, Pinterest, Instagram, and YouTube are popular among consumers, who spend an hour to 3-4 hours daily on these sites. Social media marketing offers fewer restrictions compared to traditional methods, making it an effective advertising and brand promotion tool for casinos. Vendors employ strategies such as showcasing winning stories, introducing offers, emphasizing the fun and easy aspect of casino gambling, and creating brand engagement. Social media marketing objectives include raising awareness, encouraging new users, and engaging with consumers. Despite limited restrictions for responsible gambling messages, this approach positively impacts the casino gaming market, increasing user engagement and market growth during the forecast period. 

The Casino Gaming Market is experiencing significant growth due to the legalization of casinos in emerging economies and the rising disposable income of consumers. This industry includes various offerings such as gaming machines like slot machines, video poker machines, and electronic gaming machines, as well as table games like poker, craps, and blackjack. Advanced technologies like virtual reality (VR) and augmented reality (AR) are trending, offering gaming experiences. Mobile gaming and portable equipment are popular, with online gambling platforms and cryptocurrencies gaining traction. Skill-based gaming, including poker, is attracting casual and avid gamblers alike. Stringent regulations and high initial investments pose challenges, but industry reports indicate continued growth. Land-based casinos and online casinos both thrive, with jurisdictions implementing various laws and regulations, including age restrictions. Direct sales of gaming equipment and touch screens with multi-line displays and progressive jackpots are common features. Internet penetration and smartphone usage drive the market, with regulatory challenges and licensing requirements ongoing. 

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Market Challenges

The global casino gaming market relies heavily on secure payment processing for credit and debit cards to maintain customer trust and confidence. Compliance with the Payment Card Industry Data Security Standard (PCI DSS) is essential for securing cardholder data and reducing financial fraud. However, the risk of financial fraud and hacked cards poses a significant challenge to the market’s growth. While some casino gaming companies can afford external digital security services, others may not have the budget for such investments. As a result, securing online payments remains a critical concern for the casino gaming industry, which could potentially hinder market expansion during the forecast period.The Casino Gaming Market faces several challenges in the current business landscape. Cryptocurrencies are gaining popularity among avid gamblers, requiring casinos to adapt and integrate this technology. Skill-based gaming is on the rise, making it essential for casinos to offer more of these types of games. Poker, Slot machines, and Video poker machines remain popular, but Casual gamblers and Dabblers prefer Digital table games and Mobile-compatible slot machines. Industry reports indicate that Internet penetration and Smartphones are driving the shift towards Online casinos. Regulatory challenges, including Licensing requirements, Jurisdictions, and Laws and regulations, pose significant hurdles. Age restrictions, Touch screens, and Multi-line displays are essential features for engaging Gambling enthusiasts and Lottery loyalists. Casinos must also contend with the rise of Virtual slot machines and Electronic games, as well as the increasing popularity of Cruise ships, Tourist attractions, and Social exuberant games like Craps, Lottery, Roulette, and Blackjack. Personal disposable income and Block chain technology are also crucial factors in the Casino gaming type. Regardless, the industry continues to evolve, offering an immersive gaming experience for all, from the Unengaged to the Social exuberant.

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Segment Overview 

This casino gaming market report extensively covers market segmentation by

Type 1.1 Land-based casino gaming1.2 Online casino gamingProduct 2.1 Slot machines2.2 Lottery ticket machines2.3 Electronic roulette2.4 Multiplayer game stations2.5 Gaming serversGeography 3.1 North America3.2 APAC3.3 Europe3.4 South America3.5 Middle East and Africa

1.1 Land-based casino gaming- The land-based casino gaming market has long been a significant contributor to the global casino industry, providing entertainment through traditional games such as blackjack, roulette, poker, and craps. Land-based casinos remain popular destinations for tourists, offering an unparalleled atmosphere with neon lights, slot machine sounds, and social interaction. However, the industry faces competition from online gaming. While some land-based casinos have lost revenue due to this shift, they have responded by introducing new attractions, luxurious amenities, and expanding their properties to remain competitive. The land-based casino gaming segment is expected to experience moderate growth during the forecast period.

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Research Analysis

The Casino Gaming Market is experiencing significant growth due to the legalization of casinos in various regions and the rising disposable income of consumers. High-quality gaming equipment, including gaming machines like slot machines, video poker machines, and electronic gaming machines, are in high demand. Advanced technologies such as virtual reality (VR) and augmented reality (AR) are revolutionizing the industry, providing gaming experiences. Mobile gaming and online gambling platforms are also gaining popularity, with mobile-compatible slot machines and touch screens becoming standard. Cryptocurrencies are being adopted for transactions, adding convenience and security. Skill-based gaming, including poker, is attracting a new demographic. Industry reports indicate that emerging economies are driving growth, but stringent regulations and laws and regulations must be navigated. Internet penetration is expanding access to online casinos, while multi-line displays and progressive jackpots add excitement to land-based casinos. Overall, the casino gaming market is evolving rapidly, offering endless opportunities for innovation and growth.

Market Research Overview

The casino gaming market encompasses a wide range of offerings, including casinos, gaming machines such as slot machines, tables like poker, craps, roulette, and blackjack, and various forms of legalization. The market is driven by rising disposable income and the growing popularity of casinos as recreational activities in emerging economies. However, stringent regulations and high initial investment pose challenges. Advanced technologies like virtual reality (VR), augmented reality (AR), mobile gaming, and portable equipment are transforming the industry. Online gambling platforms, cryptocurrencies, and skill-based gaming are also gaining traction. Casinos come in various forms, including land-based and online, with slot machines, video poker machines, electronic gaming machines, and touch screens featuring multi-line displays and progressive jackpots. Casual gamblers and avid gamblers, dabblers and gambling enthusiasts, social exuberants and the unengaged, all find their place in this diverse market. Industry reports provide insights into trends, regulatory challenges, licensing requirements, jurisdictions, and laws and regulations, including age restrictions and mobile-compatible slot machines. Digital table games, lottery, and cruise ships are other significant areas of growth. Block chain technology is also being explored for its potential in enhancing security and transparency. Overall, the casino gaming market offers gaming experience for a global audience.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

TypeLand-based Casino GamingOnline Casino GamingProductSlot MachinesLottery Ticket MachinesElectronic RouletteMultiplayer Game StationsGaming ServersGeographyNorth AmericaAPACEuropeSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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TIER IV’s AI Pilot system certified for Level 4 autonomous bus service in Nagano Prefecture

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TOKYO, Oct. 30, 2024 /PRNewswire/ — TIER IV, the pioneering force behind the world’s first open-source software for autonomous driving, is proud to announce Level 4*1 certification for the AI Pilot*2 system powering an autonomous bus service in Shiojiri, Nagano Prefecture. This certification marks the first-ever Level 4 certification in Japan to operate up to 35 km/h on public roads shared by pedestrians and general traffic, specifically along the route between Shiojiri Station and Shiojiri City Hall.

Developed by TIER IV, AI Pilot comprises the open-source software Autoware*3, sensors, a computer and an in-vehicle infotainment system, and it can be integrated into various vehicle models.

The recent Shiojiri certification is part of TIER IV’s ongoing support for the Japanese government’s drive to promote the deployment of autonomous vehicles nationwide, and it follows Level 4 certification secured at GLP ALFALINK Sagamihara in October 2023. TIER IV also continues to develop a certification framework as a solution for partners developing autonomous driving systems, contributing significantly to the rollout of autonomous driving.

“In Japan, it is increasingly difficult to sustain regional public transportation amid population decline and an aging society,” said TIER IV founder and CEO Shinpei Kato. “At TIER IV, we are committed to addressing these challenges with autonomous driving technology. The Level 4 certification in Shiojiri represents a major step forward in these efforts. Looking ahead, we will continue to drive research, development and proof of concept (PoC) tests to accelerate the widespread rollout of autonomous solutions.”

“Our city is striving to make the community safer and more convenient with next-generation transportation,” said Takashi Momose, mayor of Shiojiri City. “Since 2020, we have been partnering with TIER IV to explore autonomous driving services and conduct PoC tests. Last year, we began testing the TIER IV Minibus for Level 4 autonomous driving services. With the recent certification, we are nearing the implementation of Level 4 autonomous driving on public roads. Moving forward, we will continue working closely with TIER IV to promote Level 4 services. We hope this effort will spark a nationwide rollout, offering alternative transportation options that will help to reduce traffic accidents and revitalize local public transit.”

Residents of Shiojiri City have expressed great anticipation for the autonomous buses, with comments such as, “I’m thrilled to see autonomous driving and digital transformation progressing in Shiojiri, and I can’t wait to use the buses regularly,” “I hope efforts like this continue to create a more convenient transportation system,” “I fully support this initiative,” and “It’s an honor for us as citizens to use an autonomous bus that represents such advanced technology and dedication.”

*1 In Japan, Level 4 is considered to be fully driverless autonomous driving, which means that a vehicle can handle most driving situations independently, under specific conditions, on public roads.
*2 AI Pilot is a registered trademark of TIER IV.
*3 Autoware is a registered trademark of the Autoware Foundation.

About TIER IV

TIER IV stands at the forefront of deep tech innovation, pioneering Autoware, the world’s first open-source software for autonomous driving. Harnessing Autoware, we build scalable platforms and deliver comprehensive solutions across software development, vehicle manufacturing, and service operations. As a founding member of the Autoware Foundation, we are committed to reshaping the future of intelligent vehicles with open-source software, enabling individuals and organizations to thrive in the evolving field of autonomous driving.

Media Contact
pr@tier4.jp

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SOURCE TIER IV, Inc.

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Hyundai Motor Reveals Bold and Efficient Hydrogen FCEV Concept Previewing New Design Language

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Hyundai unveils its INITIUM hydrogen fuel cell electric concept vehicle, reinforcing its clear commitment to hydrogen mobility and sustainabilityThe concept showcases the company’s new design language ‘Art of Steel’ and reflects the Hyundai Motor’s customer-centric approachTargeted driving range of over 650km[1] with a maximum motor output of 150 kWINITIUM previews new production FCEV coming in the first half of 2025Hyundai Motor to showcase INITIUM at the LA Auto Show and Auto Guangzhou in November 2024

SEOUL, South Korea, Oct. 30, 2024 /CNW/ — Hyundai Motor Company today unveiled its INITIUM hydrogen fuel cell electric vehicle (FCEV) concept at its ‘Clearly Committed’ event held at Hyundai Motorstudio Goyang.

INITIUM is a Latin word meaning ‘beginning’ or ‘first’, representing Hyundai Motor’s status as a hydrogen energy pioneer and its commitment to develop a hydrogen society.

INITIUM provides a preview of a new production FCEV that Hyundai Motor plans to unveil in the first half of next year. The concept encapsulates the company’s 27 years of hydrogen technology development and reflects its clear commitment to achieving a sustainable hydrogen society.

This unique hydrogen fuel cell-powered SUV concept also marks the debut of Hyundai Motor’s new design language – called ‘Art of Steel’ – embodying the character of HTWO, Hyundai Motor Group’s dedicated hydrogen value chain business brand.

“Hyundai Motor’s clear, unwavering commitment to hydrogen over the past 27 years is rooted in our belief in its potential as a clean, accessible and therefore fair energy source for everyone,” said Jaehoon Chang, President and CEO of Hyundai Motor Company. “We are dedicated to pioneering a future where hydrogen is used by everyone, in everything, and everywhere. We invite you to join us on this journey.”

What is Hyundai’s new ‘Art of Steel’ design language?

At the unveiling, SangYup Lee, Executive Vice President and Head of Hyundai and Genesis Global Design, presented the INITIUM concept and Hyundai’s new ‘Art of Steel’ design language.

“Our challenge began from the manufacturing stage, where we pushed the formability of steel to the extreme to create a form of art,” Lee said. “With INITIUM, we’ve crafted a more SUV-like design that is both solid and safe, reflecting our dedication to our customers through ‘customer-centric design’.”

INITIUM’s iconic design integrates the HTWO symbol, representing Hyundai Motor’s vision for a future driven by hydrogen. The ‘+’ inspired graphic as part of INITIUM’s lighting signature blends with the bumper, creating a distinctive FCEV-specific design cue marked by unique lighting, solid volumes and refined elegance.

INITIUM’s distinct SUV-like aesthetic seamlessly integrates city living functionality with outdoor adventure capability with its bold lines and solid structure, balancing sturdiness and sophistication. The concept’s 21-inch wheels complement the overall design, with the vehicle’s rugged roof rack adding practicality for those with both urban and outdoor lifestyles.

INITIUM advances FCEV performance, comfort and safety

INITIUM’s development focused on three primary aspects: superior driving range and enhanced performance, which are key strengths of hydrogen cars; a spacious interior and luggage area, making it ideal for families; and unique convenience and safety features distinctive to hydrogen cars.

Hyundai Motor fitted INITIUM with aerodynamic wheels to reduce drag wrapped in low rolling resistance tires, for a targeted driving range of more than 650 km between refueling (estimated driving range calculated with Hyundai Motor’s target fuel economy, when tested with 18-inch tire).

As for performance, INITIUM offers excellent acceleration and smooth overtaking capability. By further developing Hyundai’s fuel cell technology the company has increased the output of the stack and enhanced battery capacity, allowing for an electric motor output of up to 150 kW. This ensures drivers experience smooth driving in urban areas and at higher speeds on highways.

INITIUM delivers an impressive level of interior space and versatility suitable for a family SUV, with a large living space for second-row passengers that features seat backs with a large reclining angle for increased comfort. INITIUM’s wide body and large rear-door opening angle enhance convenience for rear-seat passengers when getting in and out of the car.

INITIUM includes a FCEV-specific route planner that addresses one of the biggest pain points for FCEV buyers: charging infrastructure. With this feature, users can easily plot an optimal route, finding charging stations along the way without having to access a separate app or make a phone call. Users can check the location accessibility and operating status of an identified charging station, as well as the number of waiting vehicles and therefore the possibility of charging.

Hyundai Motor plans to showcase INITIUM at the Los Angeles Auto Show and Auto Guangzhou in November, further solidifying its position in the global market as a hydrogen mobility leader. The production version of the INITIUM concept is set to launch in the first half of 2025.

[1] Estimated driving range calculated with Hyundai Motor’s target fuel economy, when tested with 18-inch tire.

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SOURCE Hyundai Motor Company

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OpenSSL Forms Business Advisory Committees: Shape the Future – Join Now!

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NEWARK, Del., Oct. 30, 2024 /PRNewswire/ — The OpenSSL Foundation (primarily focused on non-commercial communities) and the OpenSSL Corporation (primarily focused on commercial communities) are pleased to announce the formation of Business Advisory Committees (BAC), inviting our communities – Distributions, Committers, Small Businesses, Large Businesses, Individuals, and Academics – to actively engage in shaping the future of OpenSSL. These advisory bodies are critical in enhancing our governance structure, ensuring that the decisions reflect the diverse stakeholders involved and that our Mission and Values stay aligned with the community’s needs.

On November 4, OpenSSL officially opens nomination for:

OpenSSL Foundation Business Advisory CommitteeOpenSSL Corporation Business Advisory Committee

Community members who are actively engaged with OpenSSL and for whom we have contact information will receive an invitation email to register for participation in the OpenSSL Communities and the right to participate in the Advisory Committee elections.

If you did not receive an invitation and would like to register as a community member, please create your account here or contact us at communities@openssl.org.

Upcoming Timeline

Registration: Open nowNomination: Opens November 4, 2024 (for four weeks)Voting Period: Opens December 2, 2024 (for two weeks)

Business Advisory Committees: Formation Process

Registration: Companies, groups, projects, or individuals register as community members of their respective communities.Nomination: Each community nominates individuals to represent them. Self-nominations are welcome, but community-backed nominations are encouraged.Candidate Vetting: Nominees will provide a brief statement explaining how they plan to represent the community on the BAC, which will be included when they are announced as candidates.Voting Period: Registered members of each community will vote online.
The voting period will last two weeks.Announcement: Elected representatives will be publicly announced with their profiles and vision statements.

Engagement and Impact

“We are pleased to see the enthusiasm around the BACs, as elected members will have significant influence in shaping OpenSSL’s direction,” noted Matt Caswell, President of the OpenSSL Foundation. “Each BAC will meet regularly online, with an annual in-person meeting in Europe at the OpenSSL Conference to address important issues and provide crucial updates. For transparency, meeting minutes will be published, and an annual report will capture the committee’s activities and recommendations, helping to guide decisions in line with OpenSSL’s Mission and Values, which are fundamental to our work, while keeping the communities informed and engaged.”

“Being on an OpenSSL BAC offers an opportunity to shape the future of a critical security project that impacts businesses worldwide,” said Tim Hudson, President of the OpenSSL Corporation. “Members will have significant influence on key decisions, helping to align actions with both business needs and OpenSSL’s Mission and Values, which are central to our work. They also gain valuable visibility and connections within the open-source and security communities. It is a chance to make a meaningful impact.”

For more information about the definition of our communities and the function of the Business Advisory Committees refer to the OpenSSL Communities website or contact us at communities@openssl.org.

Contact:
OpenSSL Foundation and OpenSSL Corporation
***@openssl.org

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