Surge in demand for automated systems, rise in adoption of interactive system in retail application, increase in inclination toward self-service systems, and growth in adoption of touch enable devices have boosted the growth of the global interactive kiosk market.
PORTLAND, Oregon, Jan. 13, 2020 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Interactive Kiosk Market by Type (Bank Kiosk, Self-Service Kiosk, and Vending Kiosk) and Industry Vertical (Retail, Healthcare, BFSI, Government, Transportation, and Others): Global Opportunity Analysis and Industry Forecast, 2019–2026". According to the report, the global interactive kiosk industry was pegged at $14.76 billion in 2018 and is projected to reach $29.14 billion by 2026, registering a CAGR of 8.7% from 2019 to 2026.
Driving factors for the market
Surge in demand for automated systems, rise in adoption of interactive system in retail application, increase in inclination toward self-service systems, and growth in adoption of touch enable devices have boosted the growth of the global interactive kiosk market. However, stringent government regulations related to vending machines and high cost of self-service system hamper the market growth. On the contrary, high adoption of tele-kiosks with Global Positioning System (GPS) technology is expected to create lucrative opportunities in the near future.
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Self-service kiosk segment held the largest share
The self-service kiosk segment held the largest share in 2018, contributing to more than two-fifths of the global interactive kiosk market, owing to rise in demand for enhanced kiosks from different industry verticals including retail, banking, and consumer. However, the bank kiosk segment is projected to register the fastest CAGR of 11.6% during the forecast period, owing to increasing demand for self-service banking kiosks and rise in financial institution security threats.
BFSI segment to portray the fastest growth through 2026
The BFSI segment is anticipated to manifest the fastest CAGR 12.4% during the forecast period, owing to growing trends of digitization in the BFSI industry. However, the retail segment dominated the global interactive kiosk market in 2018, contributing to more than one-fourth of the market, due to enhanced technology in the retail industry such bright contrast and prolonged service life of displays.
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North America to dominate the market
The global interactive kiosk market across North America held the largest share in 2018, contributing to two-fifths of the market, owing to rise in adoption of touchscreen kiosks in the government and retail sector. However, the market across the Asia-Pacific region is expected to manifest the fastest CAGR of 13.0% during the forecast period, owing to surge in demand for interactive Kiosks and touch technology.
Major market players
- NCR Corporation
- Advantech Co., Ltd.
- Kiosk Information Systems
- Advanced Kiosks
- Meridian Kiosk
- Source Technologies
- Diebold Nixdorf Incorporated
- TouchScreen Solutions
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SOURCE Allied Market Research