The global interactive kiosk market size is valued at USD 42 billion at a CAGR of 6% during the forecast period (2022–2030). People’s preferences change every day, what they wear, what they eat, how they prefer to shop, everything keeps changing drastically overnight. These changes are brought due to the ongoing and rapid advances in the industry of automation and artificial intelligence. The industry of artificial intelligence has penetrated the operations of all other industry, at a speedy manner. Kiosks are also part of such penetration. Kiosks are small displaying structures that are placed in high-traffic or crowded areas which provide information about some particular component, such as displaying news or broadcasting or offering self-service facilities to people.
This is a great way to increase customer satisfaction, as this is fully automated, and it optimizes the customer experience and interaction as well. Kiosks are an automation system brought to the market as needed to increase the satisfaction of the customers, as the customers don’t have to waste time waiting for long in queues, they can easily use these structures and place an order for themselves. Such an example of this structure is Amazon Go, which is a cashier-less convenience store, customers can pick up their required items and leave without having to check out.
Technological advancements along with internet penetration have pushed the demand for the adoption of Kiosks further, allowing for the growth of the global interactive kiosks market.
Kiosks allow the customers to have a seamless experience by allowing them to operate them on their own, place an order by themselves, make reservations on their own, and basically have a self-service customer experience in retail. This pushes the customers to demand more of such automated technology in retail areas. The interest of the customers has risen significantly towards the interactive self-service kiosks, and this is one of the prominent drivers leading the global interactive kiosks market.
The Kiosks machines or structures give the customer various services, like self-checkout, buy online, pick up in-store, bill your purchase on your own, etc., and these have become a prominent facility in the retail industry. Most of the people who visit fully automated stores proceed to view their experience as convenient, speed, advanced, and high-level in satisfaction.
The more the customers get a better experience while using these interactive kiosk devices, the more the demand for the same is pushed.
The increased popularity of cloud computing technology can be evidently witnessed in the area of interactive and automated Kiosk structures. The technology of cloud computing provides vast computing power, further expanding the application horizon. This technology of cloud computing in Kiosks can be seen in usage in vending machines, package retrieval, etc., making the Kiosks more advantageous and feasible. In the manner of could computing, the kiosk devices can be accessed remotely, which means that they can be controlled from any part of the world with the application of the cloud computing system. This increased adoption of cloud computing has hiked up the opportunity and demand for kiosks in the market.
The technological penetration of Kiosks has changed the traditional ways of the retail market. Kiosks provide the customers with a more engaging experience than the traditional means. Advertisements and digital content could become more relevant and would reach out to more public if it is made to display with the right message at the right location. Customers nowadays don’t like to engage in long queues, waiting for their turn to come; rather, they prefer to have things move according to their way, making it more convenient in their everyday life. Kiosks help them to save their time and energy, the interactive displaying structures provide them with a way to get their purchases, and transactions get done faster, which builds the demand from the customer’s side. The more the customers are satisfied with what they are offered, the more the demand in the global interactive kiosks market grows.
Often time, criminals and hackers get their hand on the card’s management system of the cardholder. This allows the hackers and criminal enterprises to alter the fraud prevention controls, by which they easily access the PIN of the cardholder and other compromised information. This phishing is generally done via inserting malware into the payment processor’s system. This builds paranoia and fear in the customers towards using Kiosks devices as oftentimes private information is also displayed on the screen. Such increased threats of phishing attacks make the customer wary of not using Kiosks, making it a restrain for the global interactive kiosks market.
The global interactive kiosk market has a great scope in the forecasted future. These interactive devices are considered and used by various end-user segments, as it provides the customers with a seamless experience. Moreover, with the pandemic hitting each nation and restricting the interaction between the public, the opportunity for the interactive kiosk market grows considerably. The government, retailers, and vendors are largely investing in providing the customers with this contact-less service provider. In malls, theaters, grocery stores, and banks, the adoption of kiosks can be witnessed everywhere.
Retail and departmental stores make use of the kiosk structures by allowing the customers to reduce their wait time by ending the issue of the queue. The customers can self-order and make payments by themselves without any third-party intervention. More technologically advanced ATMs are penetrating the market, such as biometric ATMs. Hence, this promotes growth and increases the opportunity in the interactive kiosk market.
The global interactive kiosk market share is bifurcated into various segments on the basis of type: ATM kiosks, information kiosks, ticketing kiosks, patient interactive kiosks, vending kiosks and other types.
Among all the segments, the ATM kiosks segment is expected to have the highest revenue share with USD 16 billion at a CAGR of 5%, as predicted during the forecast period. This volume has grown tremendously since 2021, when the ATM kiosks segment had a share of USD 10 billion.
ATM kiosks are self-contained, self-automated computing terminals that provide on-demand banking services, facilities, and transactions at any time of the day to the users. ATM kiosks are flexible and compact in nature, as they provide the customers with the choice to carry out their banking and financial transactions in a feasible and convenient manner and channel. These could be commonly found in both the bank branches as well as off-premises. As per the report issued by the World Bank in 2020, there are almost 49.62 ATMs available globally per 100,000 adults across the globe.
As more technological advancements can be evidently witnessed in the kiosk market, it has also led to the development of more versions of kiosk structures, especially ATMs. Another version of ATMs called ITM, interactive teller machines, made its way to the market and proved to have much more prominent traction in the market. These Interactive Teller Machines provide more advanced services and options than the regular ATMs.
Another kiosk type that tops the market after ATMs is vending kiosks. The expected revenue generation till 2030 is USD 10 billion at a CAGR of 7%. These kiosks are widely used in retail shops and large-scale enterprises. Vending kiosks are used for the dispense of food items and beverages or any other item from the system. Vending kiosks are largely used for food and beverages, along with DVD rentals, etc. These vending kiosks providing food, drinks, clothing, beauty, and sanitary products are highly demanded by the consumers.
As per the segmentation done on the basis of regions, The Global Interactive Kiosks Market is categorized into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa.
Among the regions, Asia-Pacific and North America dominate the market with the largest share. The Asia-Pacific will top the regional market segment with a forecasted revenue share of USD 18 billion by 2030, at a CAGR of 8%. Asia-Pacific countries have the largest populations in the globe, which leads to more advanced demands. This gives rise to the installation of automated interactive kiosks.
These kiosks are very helpful, especially for changing consumer trends and demands, which can be majorly seen in the country’s youth population. The demand for ATMs is also quite high in the Asia-Pacific region. In 2021, China launched digital yuan ATMs. The customers could easily deposit and draw money using their handphones and convert their cash and savings as well. This technological advancement in the type pushes the demand in the market for kiosk machines further. Other than ATMs, kiosks structures in the food sector are also advancing at a rapid state in the region, which provides a more accessible means for the people and growing population of the region.
North America is expected to have a revenue share of USD 11 billion by the year 2030, at a CAGR of 4%. The North American countries have the largest number of kiosk devices in the food and beverages region, along with public utilities. These interactive kiosks could be found mostly in airports, seaports, and other high-traffic areas. The region’s countries also invest highly in the growth of the interactive kiosk market. Famous retail stores like Walmart use the facility of the interactive kiosk in their operations, which promotes the demand in the region for automated interactive kiosks.
The demand for kiosks advances with advancement in infrastructures, the more advanced a country or a region’s infrastructure is, the more are the chances for the retail and other industries to promote the use of seam-less and interactive kiosks in the region. As per the Consumer Technology Association, the United States, to have an expected to expand its initiative toward the smart city, which will further promote the demand for kiosks in the region.
KIOSK Information Systems, NCR Corporation, Slabb Inc., Shenzhen Zhengton, Electronics Co. Ltd, Source Technologies, Diebold Nixdorf Incorporated, Embross Ltd, IER SAS (EASIER), Meridian Kiosks LLC, RedyRef Interactive Kiosks, Advantech Co. Ltd.
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