PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1587681
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1587681
According to Stratistics MRC, the Global Interactive Kiosk Market is accounted for $36.95 billion in 2024 and is expected to reach $62.30 billion by 2030 growing at a CAGR of 9.1% during the forecast period. An interactive kiosk is a self-service device with specialized hardware and software that enables users to carry out different tasks or obtain information without the need for assistance from a human. To enable a variety of functions like making payments, checking in, printing tickets, or collecting information, these kiosks are made with user-friendly interfaces and touchscreens. They frequently integrate technologies like card readers, printers, and QR scanners. In industries like retail, hospitality, healthcare, and transportation, interactive kiosks are widely used because they offer clients a quick and easy solution.
According to the U.S. Postal Service (USPS), interactive self-service kiosks have helped process over 100 million transactions annually, reducing queue times in post offices by an average of 30%. This has led to an overall improvement in customer service efficiency, allowing the USPS to serve more customers with fewer staff.
Growing interest in self-service options
Self-service options that improve convenience and cut down on wait times are becoming more and more popular among consumers. Businesses can effectively address this demand by using interactive kiosks to streamline procedures like check-ins, bill payments, and information sharing. Additionally, to increase customer satisfaction, this move toward self-service lowers operating expenses for businesses by reducing the need for employee support.
Expensive installation fees
The high installation costs of interactive kiosks are one of the main factors limiting the market for these systems. Interactive kiosks require a number of intricate steps in their design, production, and installation, which can result in high upfront costs. These expenses are increased by customization based on particular functionalities since customized hardware and software may be needed for every kiosk. Furthermore, this high upfront cost may discourage companies, especially small and medium-sized businesses, from implementing interactive kiosks, which would ultimately slow market expansion.
Investing in infrastructure and smart cities
The development of sophisticated infrastructure and the global trend toward smart cities present the interactive kiosk market with yet another significant opportunity. To improve public services and increase citizen engagement, governments and urban planners are investing more and more in digital solutions. In this situation, interactive kiosks that offer information, help finding your way, and access to government services in public areas can be extremely helpful. Moreover, the need for interactive kiosks is projected to increase dramatically as cities transform into smart environments.
Strong competition from mobile devices
The fierce competition from mobile technologies is one of the biggest risks facing the interactive kiosk market. Kiosks may become less relevant as customers choose smartphones and tablets more and more for transactions and information retrieval. Kiosks may not be able to match the speed and convenience offered by mobile applications, especially for younger audiences used to mobile technology. Additionally, this change in customer behavior presents a problem for kiosk operators, who need to come up with new ideas to stay competitive in the rapidly changing digital market.
The market for interactive kiosks was greatly impacted by the COVID-19 pandemic, which at first caused supply chains and operational activities to be disrupted by worldwide lockdowns. Delivery and installation of products became difficult for many manufacturers as a result of lower revenue and halted demand. But as businesses looked to ensure social distancing and reduce human interaction, this crisis also led to a spike in demand for self-service kiosks. Vendors took advantage of the demand for contactless solutions as the market recovered as restrictions were loosened. Furthermore, health concerns led to the development of innovations like temperature-sensor-equipped kiosks and PPE dispensers, which further fuelled market expansion.
The ATM Kiosks segment is expected to be the largest during the forecast period
The market for interactive kiosks is dominated by the ATM kiosks segment. The growing focus on digital banking and self-service solutions in the banking, financial services, and insurance (BFSI) industry is primarily responsible for this dominance. The demand for ATMs and other banking kiosks has increased as customers choose more practical and effective banking options. In addition to facilitating cash withdrawals, these kiosks provide a number of other services like bill payment, account management, and even biometric authentication for added security. Moreover, the functionality and user experience of smart card readers and RFID systems are further improved by their integration.
The Entertainment segment is expected to have the highest CAGR during the forecast period
In the market for interactive kiosks, the entertainment segment is anticipated to grow at the highest CAGR. This expansion is explained by the growing desire for better user experiences in places like movie theatres, theme parks, and gaming centers. This industry uses interactive kiosks for a number of functions, such as selling tickets, directing customers, and giving them information about events and attractions. These kiosks use of cutting-edge technologies and user-friendly interfaces, like mobile integration and customized services, increases their appeal to customers. Furthermore, this market is anticipated to grow significantly due to the increased deployment of interactive kiosks as entertainment venues seek to increase customer engagement and streamline operations.
The market for interactive kiosks is dominated by the Asia-Pacific region. Numerous factors, such as a sizable and expanding population, fast urbanization, and rising demand for cutting-edge technological solutions across a range of industries, are responsible for this dominance. The region's leading position is further supported by the wide range of interactive kiosk applications it has, from retail and healthcare to entertainment and transportation. Additionally, Asia-Pacific's position as a major player in the global interactive kiosk market has also been strengthened by the acceleration of kiosk adoption in busy locations like malls, airports, and public areas due to consumer preferences shifting toward self-service options.
Over the course of the forecast period, the interactive kiosk market is expected to grow at the highest CAGR in the Europe region. The increasing use of kiosks in a variety of industries, such as retail, healthcare, and public transportation, with the goal of improving user experiences and cutting down on wait times, is what is driving this growth. With large investments in infrastructure and technology to support interactive kiosk solutions, nations like France and Germany are spearheading this movement. Moreover, the potential for growth in this market is further supported by the growing emphasis on enhancing customer engagement through self-service options and the incorporation of cutting-edge technologies like artificial intelligence and contactless payment systems.
Key players in the market
Some of the key players in Interactive Kiosk market include NCR Corporation, Glory Global Solutions Ltd., Advantech Co., Ltd., Olea Kiosks, Inc., Embross Group, Zebra Technologies Corp, Diebold Nixdorf AG, Samsung, Frank Mayer and Associates, Inc., Kiosk Information Systems, Aila Technologies, Inc., Source Technologies and REDYREF.
In October 2024, NCR Corporation has developed two new products: an ATM which dispenses cash on facial recognition and a 'branch-in-a-box' composite hardware system for self-service branch transactions. The facial recognition technology allows customers to withdraw cash from ATMs using their face instead of a card. The system uses a combination of AI and 3D camera technology to verify identities.
In October 2024, Samsung Biologics said it has signed a deal worth $1.24 billion for contract manufacturing from an Asia-based biopharmaceutical firm. The deal will last until the end of 2037, the company said in a regulatory filing. Other details remained undisclosed under a confidentiality agreement.
In December 2023, Glory Global Solutions (International) Ltd, a wholly-owned subsidiary of GLORY Ltd. announces plans to acquire 100% of the issued share capital of Flooid, a leader in cloud-based unified commerce software to the retail industry, from Inflexion Private Equity Partners.
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.