- Presently, the global kiosk (self-service/interactive kiosk) market has a huge potential of empowering consumers and help them in doing things on their own
- Self-service kiosks have gained significant popularity and it is evident that their cost-effectiveness, expansive, and time-saving solutions will continue to garner attention from the end-users
ALBANY, New York, Feb. 25, 2020 /PRNewswire/ -- A recent research report published by Transparency Market Research follows the current developments in the global kiosk (self-service/interactive kiosk) market. The research report provide detailed information about the inner working dynamics and the factors influencing the overall growth of the global market. According to the findings of the research report, the global kiosk market is projected to exhibit a highly promising CAGR of ~10% for the forecast period ranging from 2019 to 2027. With this rate of growth, the valuation of the global market is expected to rise up to US$2.4 bn by the end of 2027. Initially, in 2019, the valuation of the global market was around US$1.1 bn.
"While the self-service kiosks in the banking sector are working towards automating banking services, digital kiosks are also experiencing a prominent growth. These are increasingly used as an advertising platform by both large-scale as well as small-scale businesses. These kiosks allow business shareholders to communicate consumers at highly cost effective rates. Such paradigm and rapid shift in the kiosk technology is expected to drive the global market in the near future", finds TMR analysts.
The global kiosk (self-service/interactive kiosk) market can be broadly segmented with respect to component, industry, and region.
The segment of retail is expected to account for the largest share in the global market in the coming years of the forecast period. The self-service/interactive kiosks are getting a huge limelight with the growing developments in analytics, robotics, and AI. Interactive and user-friendly experiences through these kiosks have helped in fueling the growth of the segment. With increasing use of such self-service/interactive kiosk across a broad range of industrial applications, the segment will continue to dominate the market share over the course of the forecast period.
With respect of component, the global kiosk (self-service/interactive kiosk) market is expected to be dominated by the hardware segment. The segment accounted for ~58% of the overall market share in 2019 and is projected to continue leading the market in coming years. The growth of the segment is attributed to launch of technologically sound hardware component by the leading manufacturers.
Explore a report with detailed research, incisive insights, and in-depth country levels estimations. Gain business intelligence on global Kiosk (Self-service/Interactive Kiosk) Market (Component: Hardware, Software, Services; Industry: Retail, Finance, Transportation, Government, and Healthcare.
Global Kiosk (self-service/interactive kiosk) Market – Prominent Growth Factors
One of the biggest advantages of kiosks that they aim to improve the overall consumer experience. They streamline the entire consumer interaction process and lead to real-time interaction. Financial and retail industries have benefited most from such streamlining operations to improve their user experience. This has thus helped in fueling the growth of the global market in recent years.
Another important factor for the market development is the increasing demand for these kiosks (self-service/interactive kiosk) across airports. These kiosks help passengers avoid any sort of delays or waiting in long queues at airports. Both airlines as well as passenger are increasingly preferring for several self-service kiosks for actions such as bag recovery, document scanning, check-in, flight rebooking, and self-boarding among others.
The growth of the global kiosk (self-service/interactive kiosk) market is high, particularly in developing economies such as India and China who are currently witnessing staggering improvements in their standard of living. This is a step in a direction for positive growth of the retail segment. This naturally is expected to have a considerable impact on the overall development of the global kiosk (self-service/interactive kiosk) market.
Global Kiosk (self-service/interactive kiosk) Market – Prominent Restraining Factors
One of the key restraining factors for the market growth has been the high cost of installation of these kiosks. The expense of maintaining these kiosks is also high, both in terms of software and hardware components.
Increasing risk of theft across retail stores is also a key factor that may affect the growth of the global market in the near future.
Global Kiosk (self-service/interactive kiosk) Market – Geographical Outlook
Asia Pacific is expected to be the fastest growing region of the global kiosk (self-service/interactive kiosk) market. Market growth in mainly attributed to large consumer pool and being the biggest retail market in the world.
Flourishing retail sector in emerging economies such as India, Indonesia, South Korea, and China is expected to play an important role in driving the growth of the regional market.
North America remains the most dominant regional segment of the global kiosk (self-service/interactive kiosk) market. In 2019, the region accounted for ~US$535 Mn. The presence of large pool of established brands is the key reason behind the growth of the North America region.
Analyze Kiosk (self-service/interactive kiosk) market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study.
Global Kiosk (self-service/interactive kiosk) Market – Notable Players
Some of the notable brands operating in the global kiosk (self-service/interactive kiosk) market are Diebold Nixdorf, NCR Corporation, Evoke Creative Limited, Fujitsu Ltd., and ZIVELO.
Global Kiosk (Self-service/ Interactive Kiosk) Market: Segmentation
Kiosk (Self-service/ Interactive Kiosk) Market by Component
Kiosk Enclosure Market – Kiosks enclosures function as self-service kiosks that are integrated and installed across multiple industry verticals (retail and commercial centers, media and entertainment, airports, and others), offering several benefits to customers so as to enhance customer satisfaction and experience.
North America Kiosk Market - The revenue of the kiosk market in North America stood at US$2.5 bn in 2015 and is expected to reach US$4.4 bn by 2024 at a 6.2% CAGR therein. On the basis of volume, the market is projected to expand at a CAGR of 6.6% from 2016 to 2024.
Kiosk Printers Market - Adoption of the IoT platform has increased significantly across the globe. Rise in demand for smart devices and strong communication base has boosted the adoption of kiosk printers.
Health Kiosk Market - The health kiosk market is expected to witness exponential growth at a staggering CAGR of ~18% through 2019-2027. In 2018, the market recorded sales of ~432 thousand units, reaching a valuation of ~US$ 474 million.
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