Global Industry Analysts Incorporated, an American market research firm, forecasts that the world’s online Casino and land-based casino industries will be worth more than $150 billion by the end of 2026.
The San Francisco-based company stated in an official press release promoting the benefits of its MarketGlass research platform that the global casino market is currently valued at around $129.2 billion. However, the company also stated that it expects this total figure to rise by a minimum of 3.7 percent per year, reaching $153.2 billion by the beginning of 2027.
According to Global Industry Analysts Incorporated, the total casino industry in the United States is currently worth approximately $72 billion, while the Asia-Pacific sector is expected to surpass the $34.6 billion mark by 2026 due to a compound annual growth rate of 4.5 percent. Furthermore, the analyst asserted that Canada and Europe are ‘other notable geographic markets’ that will see their sectors grow in value by at least 3% and 3.3 percent per year, respectively.
According to Global Industry Analysts Incorporated, the United States remains at the forefront of the casino industry. Las Vegas continues to be a major draw for casino players from all over the world, and as a result, it is a significant contributor to regional industry revenues. Asia-Pacific is a promising regional market for casino gaming globally, with the rising popularity of casino destinations in Singapore and Macau playing a significant role in driving growth in the region.
Global Industry Analysts Incorporated also revealed that its research indicated that land-based gambling machines should grow at a compound annual percentage growth rate of 4.1 to be worth approximately $77.4 billion globally by the end of 2026. It stated that slot games will benefit from ‘the ease of government regulations,’ while the lingering effects of the coronavirus pandemic will most likely reduce the compound annual growth rate for gaming table entertainment to 3.5 percent between now and the end of the decade.
High-tech subject matter:
Global Industry Analysts Incorporated highlighted the findings of its new Casinos: Global Market Trajectory and Analytics report, emphasizing the importance of innovation in shaping the dynamics of the global casino industry.’ The California-based company cited virtual reality, artificial intelligence, and 5G mobile telecommunications networks as major factors that will contribute to significant improvements in performance, customization, and flexibility.’
As per Global Industry Analysts Incorporated, despite the fact that the casino industry has been in operation since the 17th century, technological advancements are driving growth in mobile gaming as well as fueling new customer-centric adaptations in land-based casinos. Because of the availability of data collection and processing, data analytics are contributing to the significant change in a variety of industries.