Global Bank Kiosk Market | Size, Trends, Forecast

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Global Bank Kiosk Market By Type (Single-Function Kiosks, Multi-function Kiosks, and Video Kiosks), By Offering (Hardware, Software and Services), By Distribution (Rural, Semi-Urban, Urban and Metropolitan), and Region - Analysis and Forecast Report of 2020 to 2025

Pulished: September, 2020

ID: 10234

Pages: 150

Global Bank Kiosk Market Size & Growth (2020 – 2025)

The global banking kiosk market was valued at USD 571.2 million in 2020 and is anticipated to reach USD 1,124.7 million in 2025, with a CAGR of 24.58% between 2020 and 2025.

Banking kiosks are small booths with Internet access placed by banks in different locations (such as ATMs) to provide banking services without the need to go to the bank. The increasing adoption of advanced technologies by the banking industry has resulted in the growth of banking kiosks.

The growth of the global bank kiosk market is expected to increase significantly during the forecast period. With a high level of competition and the development of innovative products and features, the market is expected to register a healthy growth rate in the coming years. Notable efforts by major players to deliver improved and efficient customer service are expected to complement the growth of the global bank kiosk market during the outlook period.

The growth of the global bank kiosk market can be attributed to various factors, such as the increasing demand for self-service in various security-related applications in the financial industries, the advancements in customer services, the curb in operational costs and surge in the adoption in emerging economies like India, China and Japan, among others.

Recent Developments:

July 2019: NCR Corporation, a renowned company in financial industry, purchased D3 Technology, Inc., an online and mobile banking service provider. The addition of D3 expands NCR Digital Banking to new market segments, including major US banks and, eventually, international banks.
June 2019: Diebold Nixdorf, a connected commerce service provider for the banking and retail industries across the world, launched the DN Series, a family of self-service solutions that are created to anticipate the needs of an ever-changing industry. Major banking brands, including Fifth Third Bank and BNL Gruppo BNP Paribas, are among the 18 financial institutions in 13 countries that are already testing the DN series.

Market growth and trends:

The multifunctional kiosk is expected to grow at a considerable rate during the outlook period

The multi-function banking kiosk offers services such as check deposit with CTS interface, bill pay by debit card and Net Banking, browser-based Internet banking, cashless services / surveys including customer inquiries. balance sheet and mini statement, among others.
The multifunctional kiosk helps to integrate different functionalities on a single platform by helping multiple organizations reduce their capital expenditures by investing in separate machines. Low capital expenditures on application development, equipment purchase, installation and maintenance are the main factors pushing banks to adopt multi-function kiosks rather than single-function kiosks.
In addition, the customer prefers self-service solutions because it reduces the effort and time to complete bank transactions. Self-service retail banking kiosks can make significant improvements to physical branch locations, according to a Source Technologies study.
For example, it typically takes customers 9 minutes to obtain an official check from a bank teller. The self-service kiosks can deliver an official check in almost 40 seconds to a customer. Therefore, customers can get their checks 13.5 times faster with a self-service kiosk.

Market Drivers and Limitations:

One of the main factors likely to drive demand for bank kiosks during the foreseen period is the increasing demand for self-service in a host of security-related applications in the financial industry. Additionally, a substantial reduction in operating costs and improved customer services provided by interactive banking kiosks are some of the other factors that are likely to drive the growth of the global market in the coming years.

On the other hand, the high initial cost requirement for installation and the extremely increasing usage of mobile devices leading to significant reduction in usage of bank kiosks are expected to restrain the growth of the global bank kiosk market during the prediction period. Moreover, the increasing need for improved technologies and the control of cybersecurity threats are expected to reduce the growth of the market in the near future. However, the increasing number of investments by major players to complement the overall market growth in the near future.

However, the high initial cost of installation and the increasing use of mobile devices leading to a significant reduction in the use of bank terminals is hampering the market growth.

The bank kiosk also allows employees to focus more on complex tasks and customer service, thus reducing their time and effort on day to day transactions which are expected to drive market demand for bank kiosks in emerging economies.

Market segmentation:

On the basis of type, the market can be further segmented into single-function kiosks, multi-function kiosks, and video kiosks. Multifunctional kiosk segment accounted for the largest market share in 2018 due to the various functions it offers as it leads to lower costs and reduces the need to purchase, install and maintain separate machines for different services.

Based on the offerings, the bank kiosk market can be further segmented into hardware, software and services. The software segment is expected to become the fastest growing segment during the forecast period due to the increased demand for independent and advanced software. Sophisticated software, such as KioWare Kiosk software, is required to cope with the increasing complexity of self-service banking kiosks, thus driving the growth of the software segment.

On the basis of distribution, the global bank kiosk market can be divided into rural, semi-urban, urban and metropolitan. The metropolitan segment held the most substantial share of this market in 2018 because of the advanced technological progressions like the increasing number of ATMs and the surge of non-banks in metropolitan cities, along with the increased awareness of customers about automated machines.

Regional Analysis:

Among the key regions, the Asia-Pacific region is expected to experience strong growth in the coming years. The rising call for bank kiosks and the expanding government initiatives to support the adoption of bank kiosks for the convenience of consumers in Asia-Pacific in the near future.

The Asia-Pacific region is expected to become the fastest growing region during the outlook period. The growth of the regional market can be attributed to initiatives undertaken by regional governments. The Indian government and the RBI have worked together to promote the own bank and also to support the entry of major players into the market.

Key market players:

Some of the major players operating in the global bank kiosk market are Cisco Systems, Inc., Inspur Technologies Co., Ltd., OKI Electric Industry Co., Ltd., Shenzhen Yi de Computer Co., Ltd., GRG Banking, Hitachi-Omron Terminal Solutions, Corp., NCR Corporation, Diebold, Inc., Glory Limited, Auriga SPA, Korala Associates Limited (Kal Atm Software) and Nautilus Hyosung.

1. Introduction

1.1 Market Definition

1.2 Scope of the report

1.3 Study Assumptions

1.4 Base Currency, Base Year and Forecast Periods

2. Research Methodology

2.1 Analysis Design

2.2 Research Phases

2.2.1 Secondary Research

2.2.2 Primary Research

2.2.3 Data Modelling

2.2.4 Expert Validation

2.3 Study Timeline

3. Report Overview

3.1 Executive Summary

3.2 Key Inferencees

4. Market Dynamics

4.1 Impact Analysis

4.1.1 Drivers

4.1.2 Restaints

4.1.3 Opportunities

4.2 Regulatory Environment

4.3 Technology Timeline & Recent Trends

5. Competitor Benchmarking Analysis

5.1 Key Player Benchmarking

5.1.1 Market share analysis

5.1.2 Products/Service

5.1.3 Regional Presence

5.2 Mergers & Acquistion Landscape

5.3 Joint Ventures & Collaborations

6. Market Segmentation

6.1 Bank Kiosk Market, By Type

6.1.1 Single-Function Kiosks

6.1.2 Multi-function Kiosks

6.1.3 Video Kiosks

6.1.4 Market Size Estimations & Forecasts (2019-2024)

6.1.5 Y-o-Y Growth Rate Analysis

6.1.6 Market Attractiveness Index

6.2 Bank Kiosk Market, By Offering

6.2.1 Hardware

6.2.2 Software

6.2.3 Services

6.2.4 Market Size Estimations & Forecasts (2019-2024)

6.2.5 Y-o-Y Growth Rate Analysis

6.2.6 Market Attractiveness Index

6.3 Bank Kiosk Market, By Distribution

6.3.1 Rural

6.3.2 Urban

6.3.3 Metropolitan

6.3.4 Semi-Urban

6.3.5 Market Size Estimations & Forecasts (2019-2024)

6.3.6 Y-o-Y Growth Rate Analysis

6.3.7 Market Attractiveness Index

7. Geographical Landscape

7.1 Global Identity Governance and Administration Market, by Region

7.2 North America - Market Analysis (2018 - 2024)

7.2.1 By Country

7.2.1.1 USA

7.2.1.2 Canada

7.2.2 By Type

7.2.3 By Offering

7.2.4 By Distribution

7.3 Europe

7.3.1 By Country

7.3.1.1 UK

7.3.1.2 France

7.3.1.3 Germany

7.3.1.4 Spain

7.3.1.5 Italy

7.3.1.6 Rest of Europe

7.3.2 By Type

7.3.3 By Offering

7.3.4 By Distribution

7.4 Asia Pacific

7.4.1 By Country

7.4.1.1 China

7.4.1.2 India

7.4.1.3 Japan

7.4.1.4 South Korea

7.4.1.5 South East Asia

7.4.1.6 Australia & NZ

7.4.1.7 Rest of Asia-Pacific

7.4.2 By Type

7.4.3 By Offering

7.4.4 By Distribution

7.5 Latin America

7.5.1 By Country

7.5.1.1 Brazil

7.5.1.2 Argentina

7.5.1.3 Mexico

7.5.1.4 Rest of Latin America

7.5.2 By Type

7.5.3 By Offering

7.5.4 By Distribution

7.6 Middle East and Africa

7.6.1 By Country

7.6.1.1 Middle East

7.6.1.2 Africa

7.6.2 By Type

7.6.3 By Offering

7.6.4 By Distribution

8. Key Player Analysis

8.1 Cisco Systems, Inc

8.1.1 Business Description

8.1.2 Products/Service

8.1.3 Financials

8.1.4 SWOT Analysis

8.1.5 Recent Developments

8.1.6 Analyst Overview

8.2 Inspur Technologies Co., Ltd.

8.3 OKI Electric Industry Co., Ltd

8.4 Shenzhen Yi de Computer Co., Ltd

8.5 GRG Banking

8.6 Hitachi-Omron Terminal Solutions, Corp

8.7 NCR Corporation

8.8 Diebold, Inc

8.9 Auriga SPA

8.10 Nautilus Hyosung

9. Market Outlook & Investment Opportunities

Appendix

List of Tables

List of Figures

Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
Segment-level analysis in terms of Type, Offering, Distribution along with market size forecasts and estimations to detect key areas of industry growth in detail
Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
Study the microenvironment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development
A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market.