Global Bank Kiosk Industry Thrives Amidst Rising Demand for Self-Service Banking, Dominated by Hardware Segment

DUBLIN, Sept. 5, 2023 /PRNewswire/ -- The "Bank Kiosk Market Size, Share & Trends Analysis Report By Component (Hardware, Software, Services), By Deployment, By Location, By Application, By End-user, By Region, And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.

The global bank kiosk market is projected to reach a size of USD 46.36 billion by 2030, with a Compound Annual Growth Rate (CAGR) of 14.7% from 2023 to 2030.

Bank kiosks are self-service devices that offer consumers various financial services without human interaction. The industry has seen rapid growth in recent years and is expected to continue due to factors like convenience, accessibility, and cost-efficiency. Bank kiosks address the need for quick and easy financial services, financial inclusion, technological advancements, and customer demand for self-service banking.

Key Drivers and Innovations

Banks are investing significantly in advanced kiosk technology to provide clients with value-added services like mobile banking, contactless payments, and cash recycling. These innovations enhance the efficiency, security, and accessibility of bank kiosks, making them integral to the financial ecosystem.

Bank kiosks fall into categories such as ATMs, video terminals, and self-service kiosks, aiming to automate basic operations, increase operational efficiency, reduce wait times, and free up bank tellers for complex transactions.

Benefits and Pandemic Impact

Bank kiosks are cost-effective by reducing pressure on bank tellers, cutting operational expenses, and processing multiple transactions simultaneously. These kiosks enhance customer access and have improved security, reliability, and user-friendliness due to technological advancements.

The pandemic accelerated the adoption of contactless banking, with bank kiosks providing a safe and convenient way for customers to access services. Customer preferences for self-service kiosks have also changed, leading to increased demand.

Competitive Landscape and Players

The market is competitive due to the presence of various players. Major players invest in research and development to integrate advanced technologies, intensifying competition. Prominent players include NCR Corporation, Diebold Nixdorf, Incorporated, Nautilus Hyosung America, Inc., OKI Electric Industry Co. Ltd., Euronet Worldwide, Inc., Brink's, Inc., Azkoyen Group, Hitachi Channel Solutions, Corp., and Fiserv, Inc.

Bank Kiosk Market Highlights

• The hardware segment dominated with a revenue share of 40.6% in 2022 and is expected to witness a CAGR of around 14.0% during the forecast period.
• The metropolitan segment dominated in 2022 with a revenue share of 44.6%. It is expected to grow at the fastest CAGR of over 13.0% throughout the forecast period.
• The off-site segment held a revenue share of 53.5% in 2022 and is expected to grow at the fastest CAGR of around 15.0% throughout the forecast period.
• The ATMs segment gained a revenue share of 41.6% in 2022 and is anticipated to grow at a CAGR of around 14.0% throughout the forecast period.
• The BFSI end-user segment held the largest revenue share of 71.3% in 2022 and is projected to register the fastest CAGR of more than 15.0% throughout the forecast period.

The primary source markets for bank kiosks are the U.S., Japan, China, India, the U.K., Canada, Germany, Brazil, France, and Mexico, with the U.S. being a significant market for bank kiosk companies.

For more information about this report visit https://www.researchandmarkets.com/r/i8gpcu

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