Interactive Kiosk Market Revenue To Cross $51,582 Mn by 2030, says P&S Intelligence

NEW YORK, May 31, 2022 /PRNewswire/ -- According to the market research report published by P&S Intelligence, the global interactive kiosk market accounted for $26,312.3 million in 2021, which is set to reach $51,582.0 million by 2030, growing at a compound annual growth rate of 7.8% between 2021 and 2030. The growth of the market is driven by the need for enhanced shopping experience, rising demand for self-service in the banking & financial sector, and innovations in touchscreen display technology.

Information Kiosks Are Being Widely Used in Retail Stores

The retail category is predicted to record the highest growth rate, of over 8.0%, in the coming years, because of the increasing number of retail chains. E-commerce expansion is also boosting the kiosk industry. Retailers use information kiosks to advertise their products and attract more customers, by delivering numerous pieces of information. For instance, in 2021, Crocs had over 70 stores globally with interactive kiosks providing shoppers with product information and facilitating their purchases.

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Substantial Market Growth Expected in APAC

The APAC interactive kiosk market is expected to grow at a CAGR of more than 8.0% in the future, owing to the growth of the BFSI industry and the rise of organized retail. The demand for constant access to cash is also propelling the sector, with consumers increasingly preferring touchscreen and interactive ATMs. The growing demand for improved customer experiences and achieve retail automation are pushing the acceptance of several advanced technological solutions by the APAC retail industry.

Moreover, China's interactive kiosk market had a substantial size in 2021 because of the growing population and established financial system. Additionally, the food and beverage industry in the country is seeing an increase in vending machine demand. The acceptance of such technology in the People's Republic is likely to be boosted by technological advancements and low production costs.

ATM Kiosks Were Widely Used in 2021

In 2021, ATM kiosks held around 40.0% share in the interactive kiosk market. They're self-service kiosks that allow customers to perform transactions conveniently. More-interactive ATMs are being introduced as a result of technological advancements, allowing customers to make transactions while conversing with bank employees at micro branches around the world through video conferencing.

Software Solutions Will Grow at Highest Rate

Multimedia content management systems, remote management and monitoring features, operating systems, and application stacks are all part of the software. With technological developments, the introduction of user-friendly and robust software solutions, for the smooth running of kiosks, is underway. Kiosk vendors need software solutions to provide customized solutions to sellers, based on product and geographical requirements.

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Significant Strategic Developments in Interactive Kiosk Market

To achieve a significant position, companies are focusing on investments in research and development, as well as partnerships and alliances. For instance,

• Devlyn Optical partnered with Advanced Kiosks in May 2022 to create a digital eyecare self-service kiosk that is more cost-effective than traditional doctor visits.

• Through the acquisition of Bud Room Inc. in January 2022, High Tide purchased Fastendr Retail Kiosk and Smart Locker Technology, to provide people a better buying experience all through browsing, ordering, and pickup.

Interactive Kiosk Market Segmentation Analysis

By Type

• ATM Kiosks
• Information Kiosks
• Ticketing Kiosks
• Patient Interactive Kiosks
• Vending Kiosks

By Offering

• Hardware
• Software
• Services

By Location

• Indoor
• Outdoor

By Panel Size

• 17−32"
• Above 32"

By Vertical

• Retail
• Healthcare
• BFSI
• Government
• Transportation
• Hospitality
• Entertainment

Regional Analysis

• North America
• U.S.
• Canada
• Europe
• Germany
• U.K.
• Italy
• France
• Asia-Pacific
• China
• India
• Japan
• South Korea
• Latin America
• Brazil
• Mexico
• Argentina
• Middle East and Africa
•  Saudi Arabia
• South Africa

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About P&S Intelligence

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SOURCE P&S Intelligence