Company Snapshot Figure 53 Diebold Nixdorf: Company Snapshot Figure 54 Advantech Co.: The factors such as increasing interest of customers in self-service interactive kiosks, enhanced shopping experience for customers, and cost-effective and effective medium for operations and geographic expansion of businesses drive the demand for interactive kiosks. The report covers the analysis and forecast of the kiosk market based on offering, type, vertical, and geography.
Summary Methodology Request for Customization Interactive Kiosk Market size is driven by the increasing demand of customers to use the self-service processes for purchasing products, gaining product information, and consuming technically-advanced services. Customers prefer to use these technologies due to the time saving and improved reliability in purchasing a variety of products.
These stalls offer instant customer service without the involvement of customer service employees, who are reserved for answering more unique questions and enquiry.
Companies save the cost of appointing a large number of employees and human resources by incorporating these systems thereby contributing to the market growth.
The increasing government initiatives for incorporating these machines for ease in the e-governance activities such as providing information about government programs, services, local tourism and publicizing new government websites or initiatives are contributing to the interactive kiosk market growth.
A major factor hindering the interactive kiosk market is the technical obsolescence occurring in the functional operations.
Problems in machines, such as failure at critical times, lacking automatic upgrades, and high repair costs, pose significant challenges to the industry participants.
The global interactive kiosk market machines incur a very high total cost of ownership, hindering the market growth. The compliance with regulations is another challenge to the industry growth.
Major trend in the interactive kiosk market include the evolution of touchscreen systems that aid several applications such as ticket vending, bill payment, banking activities, and showing directional maps. The innovation in electric vehicle technology is creating large opportunities for the interactive kiosk market.
The advancements in technology also increase the availability and reliability of these machines as emergency warning systems. The security of outdoor kiosks is improving, allowing these systems to provide emergency warnings in critical situations in towns and cities.
The emergence of augmented reality is anticipated to drive the market growth. By implementing augmented reality, information is accessed from kiosks to smartphones, allowing users to tap the system database and get a video or picture of the surroundings.
The feature aids customers to know the surroundings with a better understanding.
In the interactive kiosk market, payment kiosk machines are expected to witness growth over the forecast timeline.
The growth can be attributed to the transaction ease and the speed of these systems, allowing customers to pay bills quickly without any hassle or by contacting staff members.
These machines are available in various shapes and sizes from mounted options to outdoor standalones. The wayfinding kiosk segment in the interactive kiosk market is rapidly growing and is expected to gain large revenue shares over the forecast timeline. The wayfinding machines are increasingly utilized in airports, universities, roads, and shopping centers, where they help the visitors with 2D and 3D maps to give a better directional understanding and ease in traveling.
Retail applications in the interactive kiosk market are rapidly growing and witnessing an increasing demand for these products.
Increasing demand is due to the reduction in the cost of customer interaction and engagement, increased sales, and ease in delivering ROI. These machines are highly affordable for the retail sector as compared to human workers as the machines work continuously in an efficient manner.
Furthermore, the BFSI sector is increasingly utilizing these machines due to benefits offered such as digitization in the banking services, improving customer experience and brand reinforcement. Services such as ATMs, passbook printing machines, and cash deposit machines are used daily by consumers to save time and effort, contributing to the market growth.
The demand is due to early adoption of advanced technologies in the country, customer demand for personalized services, and increasing investments from various industry verticals in the implementation of these systems to enhance the customer service. Emerging economies including India, China, and South Korea are expected to have a high demand in the interactive kiosk market.
The growth in these countries is due to the digitization of products and services, the development of the retail sector, and the increasing purchasing power of consumers. The industry is highly fragmented in nature with the presence of a large number of participants.
For instance, in MayZivelo LLC announced its acquisition over Oak Labs, a software company providing efficient retail technology. The acquisition enables Zivelo to offer efficient software development tools other than its hardware and services offerings. What Information does this report contain?The market is spread across the globe which not only includes Interactive Kiosk market in Europe (Germany, France, Italy, Russia and UK), Interactive Kiosk market in North America (Canada, USA and Mexico) but also Interactive Kiosk market in Asia-Pacific(China, India, Korea and Japan).
The global interactive kiosk market is expected to post a CAGR of close to 17% during , according to the latest research report by Technavio.
Interactive Kiosk Market: Overview.
Interactive kiosks were first developed in , which does not make them a completely new concept. However, the developments that have happened in the global interactive kiosk market over the recent past have put them in a league much ahead of what they were perhaps a Location: State Tower, 90 State Street, Suite , Albany, Interactive kiosk market for the banking and financial services vertical expected to grow at the highest CAGR between and The self-service culture is growing at a fast rate in the market for banking and financial services.
Whereas, Asia-Pacific countries like China, Japan and India is an emerging market for interactive kiosk market and expected to be the highest CAGR in the coming years as the companies are taking interest in targeting the interactive kiosk in these market to meet the requirement of customers’ need.
This report studies the global Interactive Self-service Kiosk market status and forecast, categorizes the global Interactive Self-service Kiosk market size (value & .