Interactive Kiosk Market

2021-2030 Analysis and Review Interactive Kiosk Market

Interactive Kiosk Market

Interactive Kiosk Market - Growth, Share, Opportunities & Competitive Analysis, 2021 - 2030

21-01-2022 REP-HC-139278 115 pages Format

Global interactive kiosk market is estimated to grow at a CAGR of 9.2% during the forecast period (2021-2030). The major driver for the growth of global interactive kiosk market are demand for convenience & user-friendly shopping environment. Interactive kiosk allows retailers to offer immense satisfaction to the consumers through providing them improved experience regarding the purchase decisions made by the customers.  Growing consumer’s interest towards self-service interactive kiosks is a major factor propelling the demand for interactive kiosks across the globe. Interactive kiosks offer the facilities such as ordering from outlet’s catalogue when items are out of stock, check out a library book, go through the product information, issue a hotel key-card, or collect cash for a merchandise, cash withdrawal and others.

Interactive Kiosk Market

Explicit Advantages of Interactive Kiosks Remain as The Key Market Driver

Customized constituents of interactive kiosk such as bill acceptors, thermal printers, coin hoppers and card readers allow kiosks to offer specialized services to consumers. Furthermore, adoption of self-service interactive kiosks helps in decreasing total number of labors leading to reduce overall labor cost and increase personalized experience.IK provides highly user-friendly services as against standing in queues either in banks, retail stores, post offices and others. Interactive kiosks handle tough tasks in optimum time and there are many technological innovations that are inclined towards the improvement of kiosk’s operational efficiency. The use of IK for marketing campaign supports company’s brand promotion efforts while improving upon the consumer’s overall shopping experience. Moreover, IKs in retail offer updated information about the availability of the products also provide additional product information.

Vending Machines to Take the Lion’s Share

Vending Machine is expected to lead the type of interactive kiosks market in the global interactive kiosk by capturing largest market share of over 41% in 2020 with an estimated CAGR of 8.7% during the forecast period. The growing demand for convenience and user-friendly shopping environment is expected to be a primary driver accelerating growth of vending kiosk market. There is a significant rise in deploying vending kiosk at check-ins, grocery stores, fast food, casinos, ticketing, map directory and receptions. Across the globe, countries are deploying these machines.

Numerous Applications Within Retail Segment Makes This as Market Leader

Retail segment is expected to lead the vertical segment in the global interactive kiosk by capturing largest market share of over 28.9% in 2020. Retail market is anticipated to rise at a CAGR of 9.5% during the forecast period. The IKs in retail vertical has several key applications such as product information, deli-counter ordering, and self-checkout kiosks for checking out the new products available at the supermarkets or retail stores. Self-ordering Point of Sale (POS) kiosks are substantially being adopted by the fast food retail outlets, juice outlets, and coffee retail chains for placing the order and collecting the retail product. The substantial investments by private companies in development and deployment of IKs in retail stores globally is expected to drive notable growth across the global IK market by retail vertical segment.

BFS Remain as The Fast Growing Market with Promising Opportunities During the Forecast Period

Banking and financial services interactive kiosk is expected to rise at a highest CAGR of 9.8% in the forecast period. The banks and financial institutions view interactive kiosks (IKs) as the unit similar to an automatic teller machine (ATM) as ATMs offer cash vending services to customers. A large number of people are opting for the online banking services with the IKs having bridged the fundamental digital divide across the banking sector by offering convenient, safe, and secure branch banking services to everyone. IKs provide a robust platform in the bank’s branch for offering the customers with all the financial services and particularly, for the banking customers who favor online banking services. The substantial adoption of self-service kiosks and mega-banker kiosk that performs several functionalities such as passbook printing, cheque deposit, cash deposit, funds transfer, balance enquiry, statement printing, internet banking, mini-statement printing, PIN change, forms printing, etc. is expected to act as a driver for the global interactive kiosk market by banking and financial services vertical segment.

Current Market Led by North America, While Asia to Promise Future Growth Opportunities

Geographically, the global interactive kiosk market has been segmented into North America, Europe, Asia Pacific and Rest of the world (ROW). North America leads the global interactive kiosk market by capturing largest market share in terms of revenue of 34.21% in 2020. North America interactive kiosk market is primarily driven by increased demand for advanced retail services among the customers coupled with increasing need to reduce time, at the same time increasing in accuracy and quality of the services. The adoption may be attributed to the presence of large number of retail stores in the countries such as US, Canada, etc. furthermore, large-scale deployment and increasing investment of interactive kiosks across US and Canada have provided major stimuli to the growth of interactive kiosks in North America. Moreover, Asia Pacific is the fastest growing market with a CAGR of 9.9% during the forecast period. Positive economic outlook has driven government and public bodies across Asia Pacific to implement investment friendly policies attributing to the growth of end user vertical of the interactive kiosks positively influencing the growth of interactive kiosk market in Asia pacific.  The Asia-Pacific interactive kiosk market is mainly driven by government initiatives & support, agreements made between the private organizations indulged in the adoption and deployment of Interactive kiosk. 

Historical &forecast Period

This research report presents the analysis of each segment from 2020 to 2030 considering 2020 as the base year for the research. Compounded annual growth rate (CAGR) for each respective segment are calculated for the forecast period from 2021 to 2030.

Key questions answered in this report

  • What are the key market segments in current scenario and in the future by product categories?
  • What are the key market segments in current scenario and in the future by regions?
  • What is the key impact of Covid-19 over market revenues and market determinants in the global interactive kiosks market?
  • What are the primary and secondary macro and micro factors influencing the market growth currently and during the forecast period?
  • What are the primary and secondary macro and micro factors deterring the market growth currently and during the forecast period?
  • How to overcome the current market challenges and leverage the opportunities in each of the market segment?
  • Who are the key players in the operational predictive maintenance market and what are their key product categories and strategies?
  • What are the key strategies – mergers/acquisitions/R&D/strategic partnerships etc that companies are deploying to enhance market revenues and growth?

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