Global Interactive Kiosk Market was valued US$ XX Bn in 2019 and is expected to reach US$ XX Bn by 2027, at a CAGR of XX % during a forecast period. Global Interactive Kiosk Market is driven by growth in gross national income (GNI) per capita across the globe and adoption of artificial intelligence and knowledge navigator in the kiosk system.
Global Interactive Kiosk Market
Currently, digitally empowered customers have high expectations than ever before and they are socially connected with the choices. The purchase journey becomes more reliable, Interactive Kiosks manage the bridge between online and offline channels by bringing online experiences, such as browsing endless aisle. Interactive Kiosks are an ideal-store tool to provide shoppers with product information and meaningful recommendation.
Technological advancements have allowed the adoption of cashless vending machines to take up a larger role of engaging customers over their primary role in customer service. Interactive Kiosk systems have also enabled key players in various industries to cross-sell and upsell their products and services, which is expected to increase the growth in the market. Also, an increase in the adoption of smartphones and tablets, with a preference for mobile payments are expected to influence the positive impact on the growth of the market during the forecast period.
On the other hand, the high cost of installation of kiosks and the expense of maintaining both in terms of software and hardware components are expected to limit the growth in the market. Additionally, many banks have a lack of digitally advanced banking infrastructure, mainly across rural areas is also expected to hamper the market growth.
The self-service culture is gaining at a fast rate because of its superior features like cost-effectiveness, expansive, and time-saving solutions. It is also expected to garner attention from the end-users. The self-service kiosks in the banking sector are working towards automating banking services. The digital kiosks are also experiencing significant growth, which is increasingly used as an advertising platform by both large-scale and small-scale businesses. Some of the prominent key players have started rolling out self-service kiosks, by providing customers with a simple digital ordering experience. The adoption of the self-service is increasing and a parallel trend with the maturation of the internet of things witnessed in the market. Facial recognition technology enables the kiosk to display personalized offers.
The ATMs and software core integration is a branch transformation game changer. ITM offers more efficiency along with improved customer service while saving money and space. ITM look like automatic teller machines (ATMs) and deliver wider transaction functionality. The ITM teller interacts with the bank customer in real-time. ITM provides awesome benefits for bank managers and Credit Union leaders for the consideration of the possibilities.
Interactive kiosks systems are largely used for banking and financial services. It is one of the remote banking channels, which provides additional convenience to customers and save service cost to the bank. The kiosks are used in the banking and financial services sector for performing the functions of prepaid/debit card kiosks, loan kiosks, and bill payment kiosks and for cashing checks, transferring money, buying money orders, printing checks, accessing online banking, and printing financial statements. A shift in the consumers toward the adoption of self-service technology and Internet facility to perform a number of financial functions are expected to drive the growth in the market.
Region-wise, North America region held the XX % share in the global market and is expected to grow at a XX %a rate of CAGR during the forecast period. The presence of the well-established banking and financial service sector infrastructure and presence of QSRs in the region is expected to boost the market growth. The incorporation of security features in kiosks for the protection of critical finance-related data of consumers is expected to gain more prominence in the region.
By competitive landscape analysis, key players are focusing on developing innovative products to enhance the customer experience. They are integrating some new technologies such as artificial intelligence and facial recognition in self-service kiosks, which helps to understand consumer data and develop a smarter system with voice assistant and customer order prediction.
The objective of the report is to present a comprehensive analysis of Global Interactive Kiosk Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market are presented in the report.
External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Interactive Kiosk Market dynamics, structure by analysing the market segments and project the Global Interactive Kiosk Market size. Clear representation of competitive analysis of key players by Type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Interactive Kiosk Market make the report investor’s guide.
The Scope of the Report for Global Interactive Kiosk Market
Global Interactive Kiosk Market, By Type
• Automated Teller Machine (ATM)
• Retail Self-checkout
• Interative Teller Machine (ITM)
• Self-Service Kiosks
Global Interactive Kiosk Market, By Location
Global Interactive Kiosk Market, By Vertical
• Banking & Financial Services
• Food & Beverage
• Travel & Tourism
Global Interactive Kiosk Market, By Region
• North America
• Asia Pacific
• Middle East & Africa
• South America
Key players operating in Global Interactive Kiosk Market
• NCR Corporation
• EMBROSS Group Pty Ltd.
• Phoenix Kiosk Inc.
• Wincor Nixdorf Ag
• Diebold Nixdorf
• Source Technologies
• Acante Solutions Limited
• RedyRef Interactive Kiosks
• Advanced Kiosks
• Fiserv, Inc.
• Nexcom International Co.
• KAL ATM Software GmbH
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