The global interactive kiosk market is ready to demonstrate a steady growth, which is recorded to be 9% CAGR during the forecast period 2017 to 2023, reveals Market Research Future in its detailed study. The total valuation recorded is estimated to be USD 34 Billion by 2023. The study also reveals the compelling factors, segmental analysis, and regional analysis to gain information about the market’s growth.
High effectivity and cost-effectiveness of interactive kiosks are factors that are expected to positively impact their global market. MRFR identified that applications of kiosks across different sectors can earn high revenue for the market in the years of review. In recent times, interactive kiosks have become an integral part of retails and the transportation system. The rise in population and rise in level of living standards are surging the need to simplify process involved in transportation, such as ticket vending and payments. The growing popularity of interactive kiosks lies herein, which is anticipated to prompt the growth of the global interactive kiosks market. In retails, the use of kiosks is rising as they efficiently curb the monotonous work of employees. Hence, elimination of manual error and the emergence of a cost-effective tool to settle rising customer queries and details are expected to push the interactive kiosks market.
The factors that are driving the growth interactive kiosk market are accounted to be the mounting adoption of cashless vending machines, which is engaging more customers. Such factors are boosting the market growth to a large extent, which will further reach to a high level in the coming years.
At the same time, the self-service kiosks that allow to carry out many transactions, such as ticketing, registration, check-in, feedback, and other to the customers is again a vital feature of the interactive kiosk market, which is motivating the market growth inevitably. The entire thing is customized for the latest technologies such as iOS, windows, and others and designed to maximize signal transmission.
On the other hand, the animations being displayed can draw customers' attention to a new item on the menu or a discount, which eventually can boost sales. Furthermore, kiosks can also deliver more flawless checkout experiences since customers can order their food straightforwardly from the kiosk and accept a ticket for pickup at a later time. With this, interactive kiosks are for more than just selling; they can also be used for entertainment. These factors are eventually helping the global market to earn more valuation in the coming years.
For an enhanced understanding of the global interactive kiosk market share has segmented into four fundamental dynamics—components, type, and end-user.
In terms of component: Hardware, Software, and Services, among others are the segments.
In terms of type: Self-Service Kiosks, vending kiosks, and bank kiosks, among others, are the segments.
In terms of end-user: BFSI, retail & consumer goods, IT & Telecommunication, media & entertainment, travel, transportation, supply chain & logistics, healthcare, energy & power, utilities, education, and government are the segments.
In North America, continuous upgradations in technology are expected to contribute largely to the expansion of the interactive kiosks market in the review period. The infiltration of tablets is expected to support the growth of the interactive kiosks market in the region. As per MRFR’s insights, the market in North America is expected to lead in the coming years. Well-established developers of interactive kiosks and the robust infrastructure that allows the same are noted to cast a positive impact on the market in the US. The presence of a large number of key players is expected to propel the interactive kiosks market growth in North America.
The interactive kiosk market in Europe is likely to experience rapid growth across the forecast period due to the increase in utility of kiosks across burgeoning verticals, such as the healthcare and the BFSI and sectors. The expanding travel industry is also expected to bolster the market growth in Europe. In Asia Pacific, the high usage of interactive kiosks in business that deals in the retail and the telecommunication sectors is expected to surge the market growth. Alongside, the considerable revenue generated by burgeoning industries in APAC, such as Media & Entertainment, BFSI, healthcare, and travel among other end-users, can also prompt the regional market in the evaluation period.
The crucial players leading the market of interactive kiosk market are listed as Siemens AG (German), RedyRef Interactive Kiosks (US), Advantech Co. Ltd. (Taiwan), International Business Machines Corporation (US), NCR Corporation (US), Phoenix Kiosk, Inc. (US), KIOSK Information Systems (US), Korala Associates Ltd (UK), SlabbKiosks (US), KIOSK Information Systems Inc. (US), Advantech Co. Ltd. (Taiwan), Meridian (U.S), Diebold Nixdorf (US), Embross (Canada), NEXCOM International Co. (Taiwan), and IER SAS (France).