Wilmington, Delaware, United States, July 12, 2022 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - Rise in demand for smart kiosks in the service industries has broadened growth frontiers for interactive kiosk. Sales forecast for interactive kiosk by analysts at TMR has found the growing applications in retail and food & beverage (F&B) industries have impelled revenue generation, and spending on smart kiosk installations is expected to rise in other industries as well to create better customer experiences. The size of the interactive kiosk market is projected to reach US$ 49.9 Bn by 2031, advancing at CAGR of 6.0% during 2022–2031.
Leading players in the interactive kiosk are geared toward making constant technological advancements notably dynamic display technologies and software to make the interface more meaningful. Extensive use of interactive kiosks for cashless payments among consumers in recent years has generated massive revenue streams in the interactive kiosk market. Of note, massive utilization of automated teller machines (ATMs) over the years have generated vast profitable avenues.
The dual aspects of customization and versatility in smart kiosks are likely to be key forces in shaping future market demand for interactive kiosk. Solution providers in the interactive kiosk market view incredible market proposition in offer customized products for meeting the demands in the education, hospitality, sports & entertainment, and transportation industries.
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Key Findings of Interactive Kiosk Market Study
- Tech Advancements in Self-Service Kiosks to Benefit Multiple Industries: Self-service kiosks have gained immense popularity in the service industries for making transaction easy and quick. The demand for smart self-service kiosks for high-value customer transactions has boosted the prospects of the interactive kiosk market. Store managers and merchants in multiple industries have found interactive kiosks useful in boosting the retail experience for their customers. A case in point is abundant demand for vending kiosks in F&B industry. Recent developments in the interactive kiosk market have found solution providers integrating the technology with machine learning and IoT.
- Abundant Demand for Floor-standing Kiosks: Floor-standing kiosks are the most popularly used type of product in the interactive kiosk market. The revenue potential in the segment is vast given the fact that they have proved to be versatile in meeting wide range of functionalities expected of smart kiosks. On the other hand, wall mounted interactive kiosks is attracting demand due to their use in places with space constraints.
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Interactive Kiosk Market: Key Drivers
- The past few decades have witnessed rise in trend of digitalization of payments. Also, the role of kiosks in fostering positive customer engagement in service industry has generated market prospects. These trends have pivoted the growth of the interactive kiosk market.
- Self-service kiosks have gained popularity for facilitating product sales. This is a key driver for interactive kiosk market. Especially, businesses in the retail industry are always looking for technologies to boost customer engagement.
Interactive Kiosk Market: Regional Growth Dynamics
- Asia Pacific held a major share of the global market in 2021. The revenues have been fueled by strides in organized retailing and rise in utilization of smart kiosks by financial services organizations, and businesses in healthcare industry. The region is expected to be the fastest growing market for interactive kiosk during the forecast period.
- The opportunities in the North America are anticipated to grow during the forecast period
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Interactive Kiosk Market: Key Players
Some of the key players in interactive kiosk market are Peerless Industries, Inc., DynaTouch Corporation, Advanced Kiosks, Meridian Kiosks, Slabb Inc., Olea Kiosks, Inc., PFU Ltd, KIOSK Information Systems, Diebold Nixdorf Inc., and NCR Corporation.
Interactive Kiosk Market Segmentation
- Product Type
- Automated Teller Machines (ATMs)
- Self-checkout Kiosks
- Self-service Kiosks
- Vending Kiosks
- Others (Information Kiosk, Ticketing Kiosk, etc.)
- Category
- Indoor
- Outdoor
- Mounting Type
- Floor Standing
- Wall Mount
- Others (Countertop, Table Mount, etc.)
- End-use
- Retail & Hospitality
- Financial Services
- Healthcare
- Others (Media, Communication & Entertainment, Government, etc.)
- Distribution Channels
- Direct Sales
- Indirect Sales
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Region
- North America
- U.S.
- Canada
- Rest of North America
- Europe
- U.K.
- France
- Germany
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
- South America
- Brazil
- Rest of South America
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