LONDON--(BUSINESS WIRE)--Technavio has been monitoring the slot machine and it is poised to grow by USD 14.09 bn during 2020-2024, progressing at a CAGR of over 15% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. Download a Free Sample Report on COVID-19

• The Slot Machine Store
• Understanding The Slot Machine Industry Corporation
• Understanding The Slot Machine Industry Stocks

Impact of COVID-19

The COVID-19 pandemic continues to transform the growth of various industries, however, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have a low impact on the slot machine. The market growth in 2020 is likely to increase compared to the market growth in 2019.

Frequently Asked Questions:

A slot machine (American English), known variously as a fruit machine (British English), puggy (Scottish English), the slots (Canadian English and American English), poker machine/pokies (Australian English and New Zealand English), fruities (British English) or slots (American English), is a gambling machine that creates a game of chance for its customers. Slot machines are also known.

• What are the major trends in the market?
  The use of bitcoins in gambling is a major trend driving the growth of the market.
• At what rate is the market projected to grow?
  The market will accelerate at a CAGR of over 15% and the incremental growth of the market is anticipated to be $ 14.09 bn.
• Who are the top players in the market?
  AMATIC Industries GmbH, APEX pro gaming AS, APOLLO SOFT s.r.o., Aristocrat Leisure Ltd., Eclipse Gaming Systems LLC, International Game Technology Plc, Konami Holdings Corp., NOVOMATIC AG, Scientific Games Corp., and Universal Entertainment Corp., are some of the major market participants.
• What is the key market driver?
  The rising number of casinos is one of the major factors driving the market.
• How big is the Europe market?
  The Europe region will contribute 35% of the market share.

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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. AMATIC Industries GmbH, APEX pro gaming AS, APOLLO SOFT s.r.o., Aristocrat Leisure Ltd., Eclipse Gaming Systems LLC, International Game Technology Plc, Konami Holdings Corp., NOVOMATIC AG, Scientific Games Corp., and Universal Entertainment Corp. are some of the major market participants. The rising number of casinos will offer immense growth opportunities. In a bid to help players strengthen their market foothold, this slot machine forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies.

Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.

Slot Machine 2020-2024: Segmentation

Slot Machine is segmented as below:

• Product
  • Digital
  • Mechanical
• Geographic Landscape
  • APAC
  • Europe
  • MEA
  • North America
  • South America

To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR40412

Slot Machine 2020-2024: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The slot machine report covers the following areas:

• Slot Machine Size
• Slot Machine Trends
• Slot Machine Industry Analysis

This study identifies the use of bitcoins in gambling as one of the prime reasons driving the slot machine growth during the next few years.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.

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Slot Machine 2020-2024: Key Highlights

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will assist slot machine growth during the next five years
• Estimation of the slot machine size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the slot machine
• Analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of slot machine vendors

Table of Contents:

PART 01: EXECUTIVE SUMMARY

PART 02: SCOPE OF THE REPORT

• 2.1 Preface
• 2.2 Currency conversion rates for US$

PART 03: MARKET LANDSCAPE

• Market ecosystem
• Market characteristics
• Market segmentation analysis
• Value chain analysis

PART 04: MARKET SIZING

• Market definition
• Market sizing 2019
• Market size and forecast 2019-2024
• Market outlook

PART 05: FIVE FORCES ANALYSIS

• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition

PART 06: MARKET SEGMENTATION BY PRODUCT

• Market segmentation by product
• Comparison by product
• Digital - Market size and forecast 2019-2024
• Mechanical - Market size and forecast 2019-2024
• Market opportunity by product

PART 07: CUSTOMER LANDSCAPE

PART 08: GEOGRAPHIC LANDSCAPE

• Geographic segmentation
• Geographic comparison
• Europe - Market size and forecast 2019-2024
• North America - Market size and forecast 2019-2024
• APAC - Market size and forecast 2019-2024
• South America - Market size and forecast 2019-2024
• MEA - Market size and forecast 2019-2024
• Key leading countries
• Market opportunity

PART 09: DECISION FRAMEWORK

PART 10: DRIVERS AND CHALLENGES

• Market drivers
• Market challenges

The Slot Machine Store

PART 11: MARKET TRENDS

• Advent of innovative slot display solutions
• Use of bitcoins in gambling
• Growing number of M&A activities

PART 12: VENDOR LANDSCAPE

• Overview
• Landscape disruption
• Competitive scenario

PART 13: VENDOR ANALYSIS

• Vendors covered
• Vendor classification
• Market positioning of vendors
• AMATIC Industries GmbH
• APEX pro gaming AS
• APOLLO SOFT s.r.o.
• Aristocrat Leisure Ltd.
• Eclipse Gaming Systems LLC
• International Game Technology Plc
• Konami Holdings Corp.
• NOVOMATIC AG
• Scientific Games Corp.
• Universal Entertainment Corp.

PART 14: APPENDIX

• Research methodology
• List of abbreviations
• Definition of market positioning of vendors

PART 15: EXPLORE TECHNAVIO

About Us

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.

Slot machines have been entirely based on luck for decades. Unlike blackjack or poker, they don’t offer any control over the results.

However, a new breed of skill-based slots has begun to enter casinos. These games do provide the chance to control results to a degree.

Casinos aren’t necessarily offering skill-based slot machines willingly. Instead, they see a new trend on the horizon that could leave them obsolete if slots aren’t modified.

I’m going to discuss this new trend along why it’s forcing casinos to offer new types of slot machines. But first, I’ll cover more on how skill-based and traditional slots differ.

What Do Skill-Based Slot Machines Offer that Regular Slots Don’t?

A regular slot machine works as follows:

• You make a bet
• You spin the reels
• The random number generator (RNG) comes up with a combination
• Your results are displayed on the reels

You can see that the RNG decides the spin’s fate.

Some gamblers appreciate the complete randomness of slots. They don’t like overthinking every decision and would rather take a pure gamble.

Skill-based slot machines offer something different than this traditional setup. They feature bonus rounds that involve a high degree of skill.

Scientific Game’s Space Invaders is a perfect example of these games. This slot is based on a 1978 arcade machine that was later adapted to the Atari system.

Here’s how this slot machine’s bonus round works:

• You trigger the bonus with three or more scatter symbols
• You can choose between free spins and a skill-based round
• The latter brings up a second screen that’s filled with alien invaders
• You control a small spacecraft at the bottom and shoot at the advancing aliens

The base game still plays like any normal slot. You spin the reels and await a random result.

However, the key difference is in how the bonus works. You improve your chances of winning money by becoming more skilled at the bonus round.

Millennials Aren’t Playing Regular Slot Machines

The main reason why casinos are trialing skill-based slots is that millennials aren’t playing the traditional machines.

This generation, which was born between 1981 and 1996, visits casino resorts for the bars, nightclubs, and amenities. They’ve even shown some affinity for table games like blackjack and mini-baccarat.

However, millennials just don’t play slot machines like previous generations. They’re not impressed by the fancy graphics and features of the average modern slot.

This group has grown up during a technology boom that’s seen online gaming and smartphone use spread like wildfire. Millennials can simply pull out their phone and play a wide variety of games ⁠— gambling or otherwise.

In contrast to Baby Boomers and Generation X, they didn’t grow up visiting casinos just to gamble. Therefore, millennials don’t experience the same nostalgia that older gamblers do on slot machines.

The average millennial sees slots in land-based casinos as more relics than anything. But casinos are hoping to change this trend by injecting skill into the equation.

Gambling venues in both Las Vegas and Atlantic City have rolled out this new class of slots. They hope that the combination of skill-based bonuses, cool features, and good graphics is enough to attract young players.

Getting Skill-Based Casino Games Right Is Difficult

Skill-based gaming is still in its early stages. But so far, the results have been marginal at best.

The gaming world has been offering these slots since 2015. Neither millennials nor older gamblers are flocking to these machines.

One problem is a lack of awareness. Most players don’t realize that certain slots in Vegas and AC casinos feature skill.

Another potential problem is that developers just haven’t found the right combination to draw more gamblers.

Bonuses only account for around 3-5% of total return to player (RTP). This might not be a large enough degree of control for millennials, who are used to playing skill-based video and mobile games.

One more challenge for developers is figuring out the right type of bonuses. They’re going with old arcade games for now, which is a step in the right direction.

The idea is to use simple skill-based games that don’t turn off casual gamblers. After all, a 70-year-old grandma doesn’t want to play a slot where the bonus is patterned after Call of Duty.

But herein lies another dilemma: if the goal is to attract millennials, then why focus on arcade games from the 70s and 80s?

Uncertain Future with Skill-Based Slots

Aside from all the challenges I just highlighted above, casinos and developers must also deal with a high degree of uncertainty.

In the end, they could just be wasting their time by testing out skill-based slot machines. Nothing guarantees that these games will draw young adults.

Understanding The Slot Machine Industry Corporation

Skill-based gaming sounds like a great idea in theory. Giving players the ability to decide their own fortunes is appealing.

Tournament.com, for example, found out the hard way that there are problems associated with such gaming.

They introduced an online betting platform for Half Life and Counter Strike: Global Offensive (CS:GO) in 2007. Players could gamble on their team’s success on Tournament.com.

This idea sounds amazing in theory. Competitive gamers could win money by playing the games they love.

However, successful gamers would purposely play badly to lower their rating. They could then compete against lower-rated players and guarantee themselves more winnings.

Casinos don’t face the exact same set of trials as a video game betting site. But they too must worry about if the gambling world is ready for a new concept.

What Will the Future of Slot Machines Look Like?

The same skill-based slots that we see today may or may not ultimately win players over. In this case, what will the future of slot machines be?

Obviously, I can only speculate on the matter. But future slots will likely be closer to both social gaming and console/computer games.

Social games like Angry Birds, Candy Crush, and Plants vs. Zombies have become highly popular over the years. These games walk the fine line between being both entertaining and easy enough for the average person.

Many millennials would appreciate a more-hardcore gaming experience in casinos. After all, a good CS:GO player won’t get much stimulation from shooting Atari aliens that move at a snail’s pace.

Therefore, complex video games could make their way onto casino floors. Players would gamble on their abilities in games similar to CS:GO, Call of Duty, and Halo.

GameCo is already experimenting in this category with Danger Arena. This first-person shooter involves betting on your ability to blast armored soldiers.

Conclusion

The slots world is always evolving. Once three-reel games played on mechanical drums, these machines have transformed to reflect modern gaming better.

Nevertheless, they still aren’t catching on with younger gamblers. Millennials would rather visit a casino nightclub or spa than sit on a slot machine.

The good news is that these same visitors are still spending money. The bad news is that they’re not playing the casinos’ cash cows.

The industry fully realizes that they’ll be in trouble if they don’t find something that appeals to millennials. Skill-based slot machines are the first step in figuring out what young adults want.

The jury is out on whether these games are a success. They’ve only been available in casinos for a few years and haven’t been major hits thus far.

Developers may need to tweak the subject matter for the bonuses. Their early efforts include arcade adaptations that mainly appeal to older gamblers.

Both social and complex video gaming would very likely be popular among millennials. The fact is that gambling on games like Candy Crush and Halo hits closer to home with young players.

Understanding The Slot Machine Industry Stocks

Again, these efforts are still in the early stages. But it’ll be interesting to see the end product of what finally does attract millennial gamblers.