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Casino Gaming Market to Grow by USD 43.3 Billion (2024-2028), Rising Customer Spending Boosts Growth, AI Driving Market Transformation – Technavio

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NEW YORK, Nov. 26, 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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Casino Gaming Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 3.2%

Market growth 2024-2028

USD 43.3 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

3.07

Regional analysis

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

Performing market contribution

APAC at 36%

Key countries

US, China, France, Germany, and Canada

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.

Market Driver

The Casino gaming market is experiencing significant trends in both electronic gaming and licensed casinos. Electronic Games Machines (EGMs) like slot machines, roulette, blackjack, and poker continue to dominate the scene. Bingo games and sports betting sites are also popular choices. Non-junket and junket casinos cater to different demographics, with PAGCOR regulating the industry. Gross gaming revenues from casino gambling remain strong, driven by domestic tourists and international travelers. Responsible and problem gambling are key concerns. Online gambling platforms offer convenience, with options like Card on Delivery, Cash on Delivery, and Pre-Delivery Online Payment. Offline gaming venues remain important entertainment centers in integrated resorts. Demographics shape demand, with live shows, concerts, fine dining, hotels, restaurants, and gaming technology enhancing the experience. Mobile phones and blockchain technology, including cryptocurrency, are transforming the industry. Sports betting is a growing segment, fueled by fan bases and global sports events. 

Casino operators, whether online or offline, are leveraging social media marketing to attract customers. With the widespread use of smartphones and enhanced internet connectivity, social media platforms like Facebook, Twitter, Pinterest, Instagram, and YouTube have gained immense popularity among consumers. These platforms are utilized extensively, with consumers dedicating anywhere from an hour to three hours daily. Vendors recognize the potential of these channels and employ innovative strategies to promote gambling activities and casinos. Social media marketing is a powerful tool in today’s digital landscape, driving engagement and customer acquisition in the casino gaming market. 

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Market Challenges

The Casino Gaming Market encompasses various sectors, including Licensed Casinos, Electronic Gaming, Bingo games, Sports betting sites, and Electronic Games. Challenges for this industry include managing House edge in games like Slot machines, Roulette, Blackjack, and Poker. Regulations for Non-junket and Junket casinos, under bodies like PAGCOR, impact gross gaming revenues. Domestic tourists and travel destinations contribute significantly to Casinos as gaming venues and entertainment centers in Integrated resorts. Responsible gambling and problem gambling are crucial concerns. The offline and online gambling landscape is evolving with Card on Delivery, Cash on Delivery, and Pre-Delivery Online Payment methods. Gambling expansion includes Online gambling platforms, Sports betting sites, and Tourists’ preferences for Hotels, Restaurants, Entertainment, and Gaming technology. Demographics, Live shows, Concerts, Fine dining, Mobile phones, Blockchain technology, and Cryptocurrency are emerging trends. House edge, Money management, and Regulations remain key challenges.Casino gaming companies prioritize the security of their customers’ financial information when accepting payments via credit or debit cards. Compliance with the Payment Card Industry Data Security Standard (PCI DSS) is essential to secure cardholder data and reduce financial fraud. Non-compliance can result in significant losses for both the companies and their customers in case of fraud or hacked cards. While some companies opt for external digital security services, others may not have the budget for such expenses. Regardless, adhering to PCI DSS standards is crucial to maintaining customer trust and ensuring secure transactions in the casino gaming market.

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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 classic games like 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 rise of online gaming poses a challenge. 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. The land-based casino gaming segment is expected to grow moderately during the forecast period, despite online competition.

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Research Analysis

The Casino gaming market encompasses various forms of gambling, including Electronic Gaming Machines (EGMs) and table games like Slot machines, Roulette, Blackjack, and Poker. Licensed Casinos offer both online and offline gaming experiences, with the latter including Bingo games, Sports betting sites, and non-junket and junket operations. Gross gaming revenues are a significant indicator of market size, with Casinos generating substantial income through Casino gambling. Entertainment centers and Integrated resorts serve as popular travel destinations for domestic tourists and international visitors alike. Responsible gambling initiatives are essential to mitigate problem gambling, ensuring a safe and enjoyable experience for all. EGMs and table games, despite having a house edge, provide excitement and entertainment for millions worldwide.

Market Research Overview

The Casino gaming market encompasses various forms of gambling, including Electronic Gaming Machines (EGMs) such as slot machines and electronic table games, Bingo games, Sports betting sites, and Licensed Casinos. These gaming venues offer a range of entertainment options, from Roulette, Blackjack, and Poker to Live shows, Concerts, and Fine dining. Gross gaming revenues are generated through Casino gambling, with non-junket and junket segments catering to different demographics. PAGCOR regulates the industry in some regions, while responsible and problem gambling initiatives are in place to ensure a safe and enjoyable experience. Demographics vary from domestic tourists to international travelers, with hotels, restaurants, and entertainment centers often serving as integrated resorts. Online gambling platforms are also gaining popularity, with options for Card on Delivery, Cash on Delivery, and Pre-Delivery Online Payment. Mobile phones and emerging technologies like Blockchain technology and Cryptocurrency are transforming the industry. Sports betting is a significant segment, with a house edge that can be as low as 1-3%. Gaming technology continues to evolve, with innovations in areas like Virtual Reality and Augmented Reality enhancing the player experience.

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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Technology

5G in maritime environments: VTT and partners push the boundaries of connectivity at sea

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ESPOO, Finland, Nov. 27, 2024 /PRNewswire/ — In an EU-funded project, VTT Technical Research Centre of Finland and partners have successfully demonstrated an innovative solution to improve the coverage and capacity of high-speed, low-latency 5G services beyond coastal areas. This is a groundbreaking step toward comprehensive maritime connectivity, enhancing communication, safety and passenger experience at sea.

5G technology has transformed communication on land, providing high-speed data transfer and minimal latency. However, delivering these benefits at sea has remained challenging, and connectivity has traditionally been limited to urban coastal regions. To address this challenge, VTT, in collaboration with partners in the 5G-ROUTES project, successfully trialed a so-called multi-hop 5G solution near Turku, Finland, extending 5G coverage up to 10 kilometers offshore.

“This was a groundbreaking multi-hop test of 5G networks in a maritime environment. The project aims to solve the coverage and capacity challenges for data transmission at sea, to allow the creation of new solutions for the passengers and the whole maritime industry,” says Anne Lönnqvist, Research Manager from VTT.

VTT led this demonstration with Vediafi, Cumucore and Airbus, with support from Ericsson, Nokia, Digita, DNA, Telia and Goodmill Systems.

“These maritime tests were an excellent opportunity to develop new 5G applications and services for the sea cluster. It was great to see that the technology is ready-the next step is to find a commercial implementation model. The recognition and reporting of satellite positioning disturbances and interference were successfully piloted using the 5G test network. The new multi-hop solution also offered a 5G coverage extension for logistics use,” states Lasse Nykänen, Project Director at Vediafi.

Multi-hop setup proved as a critical breakthrough for vessel connectivity

Reliable, high-capacity 5G can greatly enhance vessel operations, increase automation and enrich the onboard passenger experience. The 5G-ROUTES team has combined multiple communication technologies-public 5G networks, ship-to-ship private 5G and satellite communications-into a cohesive system that seamlessly connects vessels even as they move farther from the coastline.

The demonstrated system enables mid-frequency, high-bandwidth 5G connectivity through a multi-hop setup between vessels. The setup utilizes public 5G NSA networks for coastal connectivity, private 5G SA networks for vessel-based communication and satellite connections as a backup for high availability.

“The higher bandwidth allows for more versatile types of data services. However, the solution is still in a proof-of-concept phase. The main constraints lie in national regulation, the density and pattern of vessel traffic and access to the public 5G network in areas where the capacity may be limited,” says Kati Kõrbe, 5G-ROUTES project manager from Ericsson Estonia.

New commercial opportunities for the marine industry

The system was rigorously tested on two vessels in the TurkuStockholm maritime corridor, with one vessel closer to the coast acting as a hub, providing connectivity to the second vessel located further offshore. This configuration enabled continuous data transfer and reliable internet access for various applications, from real-time video transmission between vessels to VR collaboration tools and multiplayer gaming.

“This solution represents a significant advancement in maritime connectivity by ensuring redundancy in communication even when satellite coverage is unavailable,” says Mika Skarp, Senior Business Development Manager at Cumucore. 

“The multi-hop 5G approach lifts the reliability and bandwidth of maritime networks to a whole new level worldwide. The vessels near the shore gain enhanced data capacity and resilience, ensuring robust connectivity. Cumucore’s scalable and flexible 5G solution offers maritime clients a cost-effective way to improve operational efficiency and enhance passenger experience. This will unlock new commercial opportunities at sea,” Skarp says.

The 5G-ROUTES project, funded by the EU’s Horizon 2020 program, aims to demonstrate innovative 5G applications for cross-border mobility in road and maritime sectors. The results open exciting possibilities for the European marine industry, particularly in cross-border corridors such as LatviaEstoniaFinland. Beyond practical communication improvements, the findings offer invaluable insights into multi-hop 5G connectivity dynamics and public-private network interactions in a maritime setting.

Media materials: https://vtt.contenthub.fi/ui/shares/w18171798/00W7NZjJcL/en/ Photo credits: Andrea Gentili

Additional information
Johan Scholliers
Principal Scientist, VTT
Johan.Scholliers@vtt.fi, +358 20 7223 642

Further information on VTT:
Pepita Wakkola
Manager, Communications
+358 50 360 7242, pepita.wakkola@vtt.fi
www.vtt.fi

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/vtt-info/r/5g-in-maritime-environments–vtt-and-partners-push-the-boundaries-of-connectivity-at-sea,c4071748

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SOURCE VTT Info

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Taiwan’s Products for Modern Households Focus on Customization, Health, and Wellbeing

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TAIPEI, Nov. 27, 2024 /PRNewswire/ — Taiwan’s household products industry is focusing on solutions that are adaptable to diverse lifestyles while promoting health and wellbeing. As the focus on mental health and the environment grows, Taiwan External Trade Development Council (TAITRA) is highlighting several innovative solutions that enhance sleep and maintain clean household environments with customizable experiences.

For assistance finding and collaborating with Taiwan’s leading innovators, please visit: https://en.innovation.taitra.org.tw/suppliers?cat=homeware

Or email: IndustryMarketingTeam@taitra.org.tw

Mattresses customizable to modern sleepers

As the world increasingly prioritizes mental health, sleep quality, which is crucial to managing stress and promoting wellbeing, has also come into focus. According to the Sleep Foundation, 46% of people with below-average sleep consider their mental health as ‘poor’. The right mattress can make all the difference, particularly a mattress specially suited to a sleeper. PANBOR, the largest mattress manufacturer in Taiwan, offers the perfect solution. Its TENLiS Mattress Series with premium materials and advanced ergonomics is designed around the wellbeing of the modern sleeper and can be individually adjusted.

PANBOR has over 30 years of experience researching and innovating mattress designs with extensive R&D capabilities and customization. The company has a significant production volume — 12,000 mattresses per month — and the company is certified according to ISO9001 international standards for quality assurance and ISO14001 standards for environmental management systems.

Clean indoor environments for every household

As diverse as households worldwide are, clean indoor environments and drinking water are uniform needs. Smart home devices and technologies are increasingly used for this purpose, including digitally monitoring water and the air quality. As a one-stop shop for smart capabilities and the most advanced technologies in water and air purification, Fluxtek has pioneered nanotechnology in filter systems, and its filters are fully customizable to any modern household. Fluxtek’s dedicated R&D team is constantly improving efficiency of water and air filters and improving energy efficiency, and it has over 40 international patents and certifications.

To facilitate air flow while preserving an indoor environment, Hiss specializes in tool-less, easy-to-install door and window screens that are customizable to all different types of openings. Its screens are made of eco-friendly mesh material and can be tailored to any space as an alternative for permanent metal screens.

A key partner worldwide

Across its industries, Taiwan’s business community has several advantages to offer:  

Technological capabilities: Robust R&D and patented, proprietary technologiesTrustworthy and reliable: Highly sensitive to and diligent about protecting partner intellectual propertyCustomer-centric: Flexibility and customization for specific needsCompatible with friendshoring efforts: With operations and networks worldwide for business continuity

Helping international buyers access the best of Taiwan 

When searching for a supplier or partner overseas, companies often struggle with finding a suitable company that is trustworthy and reliable, and then communication can pose additional challenges. To accelerate this process and foster impactful synergies, TAITRA serves as a resource and facilitates collaborating with the island’s most unique, forward-looking startups and enterprises.  

The organization solves the pain points of international buyers with the following services: 

Consultations on needs and matching services: https://en.innovation.taitra.org.tw/contact-usExtensive list of companies available online for free: https://en.innovation.taitra.org.tw/suppliers?cat=homewarePre-vetting and screening companies as reliable and trustworthyFacilitating communication and ensuring successful contact is made 

To ensure buyers collaborate with high-integrity businesses, TAITRA has established real-time, borderless services through a comprehensive trade network of over 60 overseas offices in more than 40 countries worldwide, and the organization holds cooperation agreements with over 500 international trade-related sister organizations. 

Photo – https://mma.prnewswire.com/media/2568244/Taiwan_s_household_products_industry_boasts_extensive_OEMODM_experience__offering_highly_customizabl.jpg

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China’s first new type of precise phase-controlled fast vacuum circuit breaker for cutting was successfully put into operation

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SHIZUISHAN, China, Nov. 27, 2024 /PRNewswire/ — Recently, the No. 5 capacitor 31322 circuit breaker of Taole 220 kV substation in the Shizuishan area was successfully closed, marking the successful operation of China’s first new type of precise phase-controlled fast vacuum circuit breaker for cutting.

As the only 220 kV substation in Taole Town and the surrounding area, Taole 220 kV substation undertakes important power transmission and distribution tasks. In recent years, with the rapid development of the regional economy and the continuous improvement of residents’ living standards, the demand for electricity has increased sharply, increasing the load of the substation. In particular, the significant increase in the cutting frequency of capacitors puts forward higher requirements for the performance of circuit breakers.

In order to ensure the smooth operation of the equipment, the relevant person in charge from the State Grid Shizuishan Power Supply Company oversaw the entire process on site, controlled all the details of the maintenance work, and comprehensively improved the quality of maintenance according to regulatory standards, as well as guided by experience and technology. In response to the need for the use of cranes and other equipment for construction, the company carefully arranged and deployed, organized relevant personnel to conduct on-site surveys many times, planned the crane driving route and determined the crane load-bearing landing points, and explained to all personnel regarding the on-site construction danger points, nearby charged objects, and pre-control measures prior to the start of construction. At the same time, the operation team strictly implements the work requirements and formulates standardized construction processes. The operators perform their respective duties and strictly abide by safety operation procedures, and conscientiously implement various safety measures to ensure the smooth progress of the transformation.

In the next step, State Grid Shizuishan Power Supply Company will seriously carry out the monitoring and evaluation of the status of new equipment, improve the quality and effectiveness of scientific and technological innovation practice, continuously promote technological innovation to improve core competitiveness, and make every effort to promote the high-quality development of the power grid.

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SOURCE State grid Shizuishan power supply Company

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