Global $39 Billion Interactive Kiosk (Bank, Self-Service, Vending) Markets to 2027: Increased Deployment of Kiosks in Newer Applications to Improve Business Efficiency
DUBLIN, May 31, 2022 /PRNewswire/ -- The "Global Interactive Kiosk Market with COVID-19 Impact by Offering (Hardware and Software & Services), Type (Bank Kiosks, Self-service Kiosks and Vending Kiosks), Location (Indoor and Outdoor), Panel Size, Vertical and Region - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The interactive kiosk market is projected to grow from USD 28.8 billion in 2022 and is projected to reach USD 39.1 billion by 2027; it is expected to grow at a CAGR of 6.3 % from 2022 to 2027.
The growth of this market is driven by factors such as enhanced shopping experience for customers, rising demand for self-service in banking & financial services, enhanced applications over conventional services and innovations in touch screen display and glass technology.
Market for banking & financial services vertical segment to grow at the highest CAGR during the forecast period.
The interactive kiosk market for banking & financial services is expected to witness the highest growth during the forecast period. The growth of the interactive kiosk market for the banking sector is attributed to the ability of these kiosks to be cost-effective solutions, reducing manual tasks, and minimizing human errors to ensure fast and seamless performance.
They are remote banking channels providing extra convenience to customers and saving service costs for banks. The growth of the interactive kiosk market for the banking & financial services sector is attributed to the ability of interactive kiosks to be cost-effective solutions, reducing manual tasks, and minimizing human errors to ensure fast and seamless performance.
The key reason behind the growth of the interactive kiosk market is the rapidly expanding banking and financial services sector in developing countries such as India and China.
Vending kiosks held the largest share of the interactive kiosk market in 2021
The vending kiosks held the largest share in the interactive kiosk market in 2021. Vending kiosks are installed in sectors such as transportation, hospitality, retail, and entertainment, as an effective way to reduce costs and increase customer satisfaction.
For consumers, vending kiosks offer convenience as they can get required services instantly without standing in long queues. The increasing demand for vending machines and automated devices, technological advancements, and remote management are the factors driving the market for vending kiosks.
These factors have led to the widespread adoption of self-service technology among the customers in rural, as well as urban areas.
Outdoor kiosks expected to register the higher CAGR in the interactive kiosk market during the forecast period
The market for outdoor interactive kiosks is expected to grow at a higher CAGR during the forecast period. This can be attributed to the growing popularity of these kiosks in amusement and theme parks, sporting events, and institutional premises may create opportunities for such kiosks.
However, putting up an outdoor kiosk is more challenging as it can be prone to theft and fraud. Also, it should have a protection system against dust, rain, temperature, and humidity. Because of exposed placement, outdoor kiosks do have a more limited configurability for peripherals.
Europe to hold a significant share of the data center interconnect market during the forecast period
Europe is expected to hold a significantly large share for interactive kiosk market during the forecast period.
Factors such as technological advancements and the trend of implementing self-service or automated technologies are driving the interactive kiosk market in Europe. Healthy economic conditions in European countries such as Germany, France, and the UK lead to favorable conditions for the implementation of interactive kiosk technology.
Competitive Analysis
Some key companies operating in the market are KIOSK Information Systems (US); Olea Kiosks (US); Frank Mayer and Associates, Inc. (US); Source Technologies (US); NCR Corporation (US); Diebold Nixdorf (US); Embross (Canada); Meridian Kiosks (US); REDYREF Interactive Kiosks (US); and Lilitab, LLC (US).
Premium Insights
- Asia-Pacific to be Fastest-Growing Market for Interactive Kiosks During Forecast Period
- Market for Bank Kiosks to Grow at Highest CAGR During Forecast Period
- Retail Vertical and Japan to be Largest Shareholders in Interactive Kiosk Market in Asia-Pacific in 2022
- Banking & Financial Services to Witness Highest CAGR in Interactive Kiosk Market During Forecast Period
- US to Account for Largest Share of Interactive Kiosk Market in 2022
Market Dynamics
Drivers
- Strong Focus of Retailers to Provide Enhanced Shopping Experience to Customers to Increase Sales and Achieve Quick Return on Investment
- Increased Deployment of Kiosks in Newer Applications to Improve Business Efficiency
- Novel Innovations in Touchscreen Display and Smart Glass Technologies
- Elevated Demand for Self-Service Machines by Customers from Banking and Finance Sector
- Sudden Outbreak of COVID-19 Pandemic
Restraints
- High Installation Cost and Constant Need for Regular Maintenance, Coupled with Increased Risk of Theft
- Substantial Increase in Cybercrime
Opportunities
- Increasing Emphasis on Integrating Advanced Technologies, Such as Ipa and Gps, in Kiosks
- Rising Number of Smart Cities and Smart Infrastructure
- Ongoing Innovations in Self-Service Kiosks
- Growing Need to Emplace Interactive Kiosks for Physically Challenged Individuals
Challenges
- Growing Preference for Tablets and Mobile Kiosks for Online Shopping
- Developing Kiosks Suitable for All-Weather Conditions for Outdoor Applications
Value Chain Analysis
- Research & Development (R&D)
- Assembly and Manufacturing
- Software Integration
- Marketing & Sales
- End Use/Application
- Post-Sales Services
Porters Five Force Analysis
Case Study Analysis
- Nutmeg State Fcu Used Source Technologies Kiosks to Enhance Dmv Express Experience
- Antuar Integrated Source Technologies Self-Service Kiosk to Enhance Productivity
- Maryland Mva Used Self-Service Kiosk to Improve Service Experience
- Leading Global Food & Beverage Company Deployed Employment Kiosk to Efficiently Serve Its Employees
- Trillium Health Resources Leveraged Temperature-Screening Kiosks Offered by Meridian Kiosks to Ensure Safety of Their Staff and Patients During COVID-19 Pandemic
- Ikea Leveraged Retail Kiosk Platform Offered by Meridian Kiosks to Develop Its Instant Credit Solution
Trends Impacting Businesses of Customers
- Revenue Shift and New Revenue Pockets for Interactive Kiosk Manufacturers
Technology Analysis
- Integration of Artificial Intelligence (Ai) with Interactive Kiosks
- Combining Contactless Technology with Interactive Kiosks
- Integration of Facial Recognition with Interactive Kiosks
Company Profiles
Key Players
- NCR Corporation
- Diebold Nixdorf
- Glory Limited
- Kiosk Information Systems
- Olea Kiosks Inc.
- Frank Mayer and Associates, Inc.
- Source Technologies
- Embross
- Meridian Kiosks
- Redyref Interactive Kiosks
- Lilitab, LLC
Other Players
- Kal
- Acante Solutions Limited
- Zebra Technologies Corporation
- Slabbkiosks
- Advantech Co., Ltd.
- Intuiface
- Verifone
- Aila Technologies
- Advanced Kiosks
- Dynatouch
- Peerless-Av
- Lamasatech
- Iqmetrix
- Sita Aero
- Shenzhen Lean Kiosk Systems Co.Ltd (Lks)
- Viewpoint Interactive Solutions
- Aidio
- Xiphias Software Technologies
- Grgbanking
For more information about this report visit https://www.researchandmarkets.com/r/oa77j3
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