Self-service Kiosk Market size is set to grow by USD 8.26 billion from 2023-2027, increasing adoption of contactless payment boost the market, Technavio

NEW YORK, April 16, 2024 /PRNewswire/ -- The global self-service kiosk market  size is estimated to grow by USD 8,262.72 mn from 2023-2027, according to Technavio. The market is estimated to grow at a CAGR of  12.61%  during the forecast period.  Self-service kiosks are gaining popularity due to customer preference for contactless payment, using NFC-enabled devices or contactless cards. Equipped with contactless payment terminals, these kiosks offer personalized recommendations, improved customer experience, and operational efficiency. Key features include AI, speech recognition, touchscreens, and barcode scanners. Industries like restaurants, petrol pumps, and casinos benefit from reduced customer turnaround time and increased accessibility. 

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This self-service kiosk market report extensively covers market segmentation by End-user (Retail, Financial services, Travel and tourism, Healthcare, Others) Component (Hardware, Software, Services) Geography (North America, APAC, Europe, South America, Middle East and Africa)

Market segmentation by End-user

The Self-service Kiosk Market is experiencing significant growth, driven by the increasing demand for contactless solutions in various sectors. The hardware component, including touchscreen displays, durable kiosk units, and external devices, forms the backbone of this market. Advanced technologies like artificial intelligence, virtual reality, and augmented reality enhance the customer experience by providing personalized recommendations and AI-driven analytics based on user data and customer behaviour. Self-service kiosks offer contactless payment processing, self-check-ins, and self-orders in banking, travel, restaurants, gaming, and other industries. Key features include barcode scanners, card readers, printers, trackballs, video cameras, and touch screens. The integration of AI, speech recognition, and voice commands improves accessibility and operational efficiency, reducing customer turnaround time and enhancing overall service delivery.

The Self-Service Kiosk Market in North America continues to lead globally, driven by customer preference for improved experience and reduced turnaround time. Vendors collaborate with platform and technology providers to expand market reach. Self-service kiosks facilitate transactions in various sectors, including retail, healthcare, transportation, and entertainment. AI technologies such as speech recognition, voice commands, and AI-driven analytics enhance user experience and operational efficiency. Self-checkouts, contactless payments, and facial recognition kiosks are key trends. Personalized recommendations and touchless self-service equipment cater to consumer behaviour. Hardware and software advancements include virtual and augmented reality, barcode scanners, card readers, and contactless payment processing. Banking services, check-ins, self-orders, and ticketing are major applications. Citizens benefit from increased accessibility and convenience in sectors like healthcare, transportation, and smart city initiatives. 

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• Smart stores, equipped with technologies like self-checkout kiosks and smart mirrors, are on the rise. Self-service kiosks, facilitating contactless transactions via card payments, are key to reducing customer turnaround time. The market for self-service kiosks will expand, driven by consumer preference for personalized, efficient service. AI, speech recognition, and voice commands enhance accessibility. Key sectors include retail, healthcare, transportation, and smart city initiatives. Hardware and software solutions offer touchless self-service, barcode scanning, and contactless payment processing.
• The self-service kiosk market is expanding, driven by Android-based tablet kiosks in sectors like entertainment, healthcare, retail, and hospitality. Tablet kiosks offer functions such as check-in/check-out, bill payments, and food ordering. Notable adopters include McDonald's and various QSRs, aiming for operational efficiency and reduced wait times. Other applications include banking services, ticketing, and contactless payments. Key components include touchscreens, barcode scanners, card readers, and printers.

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Research Analysis

The Self-service Kiosk Market is experiencing significant growth due to the increasing preference for touchless and contactless transactions among consumers. Self-service kiosks, including those with self-checkouts and self-orders, are revolutionizing customer experience by reducing turnaround time and enhancing operational efficiency. Hardware components such as keyboards, barcode scanners, and card readers, along with software solutions, enable seamless service delivery. Artificial intelligence (AI) and its advanced technologies like speech recognition and voice commands are transforming self-service kiosks, making them more accessible and user-friendly. AI-driven analytics provide valuable insights, improving customer experience and operational efficiency. Virtual and augmented reality technologies are also being integrated into self-service kiosks, offering innovative banking services and check-ins. Contactless payment processing further enhances the convenience and safety of using self-service kiosks. Overall, the self-service kiosk market is a dynamic and evolving sector, driven by consumer preference and technological advancements.

Market Research Overview

The Self-service Kiosk market is experiencing significant growth, driven by the implementation of advanced technologies such as artificial intelligence (AI), voice recognition, and contactless payment systems. These innovations enable consumers to interact with kiosks in a more efficient and convenient manner. The Customers' preference for self-service solutions is on the rise, particularly in sectors like retail, healthcare, and hospitality. The Consumers' desire for round-the-clock availability and personalized experiences is fueling the demand for these kiosks. Moreover, the Cost-effectiveness and scalability of self-service kiosks make them an attractive option for businesses. The market is expected to continue its expansion, with a focus on enhancing user experience and providing more comprehensive services. The integration of chatbots and biometric authentication is also expected to revolutionize the self-service kiosk industry. The future of self-service kiosks looks promising, with a growing number of applications and use cases emerging in various sectors.

About Technavio

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.

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SOURCE Technavio