The global Interactive kiosk market size is expected to be worth USD 26.20 Billion in 2023. It is expected to grow at a CAGR of 4.6% during the forecast period and reach a value of USD 32.81 Billion by 2028.
Customers can scan and pay for their purchases at self-checkout kiosks with integrated point of sale (POS) features without assistance from a salesperson. By incorporating AI capabilities into these self-service kiosks, shops may decrease wastage in addition to enjoying the benefits of shorter lines and less pressure on human labor. Additionally, interactive kiosks can attract a big client base by giving customers more power over their purchases, which will increase customer satisfaction.
Global Interactive Kiosk Market Drivers:
Improved shopping experiences, increased self-service in financial services and banking, higher implementation over traditional services, and technological advancements in touch screen and glass technologies are some of the drivers propelling the growth of the interactive kiosk market. Interactive kiosks can serve as a digital navigation aid as well as a catalog. They can be used to point shop consumers, airline passengers, hotel guests, hospital patients, and business associates properly.
The growing need for digital signage and advertising platforms that allow companies to provide relevant content and targeted ads is driving the growth of the interactive kiosk market globally. The integration of multimedia components and developments in display technology have made interactive kiosks a desirable option for advertisers seeking to draw attention from consumers in public areas.
Technological advancement is providing multiple opportunities in various industries. More personalized and customized kiosk experiences are becoming possible due to advances in technology like the Internet of Things (IoT), machine learning, and artificial intelligence. Travelers can communicate with information systems through speech recognition or gesture-based controls on digital kiosks, which provide a more hygienic and secure option than typical touchscreens. Interactive digital kiosks in lobbies and other public places are very advantageous for hotels to employ. One approach is to offer visitors a faster and more customized check-in procedure. Furthermore, advanced data analytics techniques will be employed by future kiosks to optimize service delivery, augment user experiences, and make data-driven decisions.
Kiosks are helpful in various industries for saving time and increasing the number of users that can approach at a time as they give more practical information in less time, which is one of the major drivers for the growth of the global interactive kiosk market. Also, the increasing adoption of these systems in the BFSI and retail sectors in emerging economies of Asia Pacific, Latin America, and MEA and the increased preference to shop without the need for interacting with sales representatives are the factors that are further fuelling the growth of the target market.
Global Interactive Kiosk Market Restraints:
Increasing cyberattacks and data breaches are restricting the growth of the interactive kiosk market. If not properly maintained and in compliance with rules, interactive kiosks are vulnerable to theft and security risks. Because there is a chance of information being misused by a third party, therefore authorized identification proof is required to access the kiosk payments. Also, consumer displeasure is one of the biggest disadvantages of using a self-service kiosk. Not everyone finds this technology to be comfortable to use. Furthermore, the high initial cost of interactive kiosks is further hindering the growth of the market.
Building outdoor kiosks that work in all weathers is one of the challenges facing the interactive kiosk market. The complexity of displays has increased due to technological developments for outdoor applications. This is because outdoor applications require less sophisticated technologies than inside applications do. Outdoor display panels need to be weatherproof and suitable for the surrounding environment. When comparing panels to those used indoors, their brightness is also required to be higher. Lack of human interaction is another factor limiting the expansion of the market. Consumers find it difficult to make smart selections when using kiosk systems because they miss the human aspect that people's recommendations provide when it comes to ordering and menu item specifics.
Impact of COVID-19 on the interactive kiosk market:
Interactive kiosk adoption has been accelerated by the COVID-19 pandemic. The demand for interactive kiosks has increased due to the rapid pace of touchless solution deployment and the emphasis on cleanliness and social distancing measures. Self-service kiosk adoption may occur endogenously. It's possible that the COVID-19 outbreak made restaurants more likely to use these kiosks. A study carried out at restaurants in Malaysia found that buying behavior through self-ordering kiosks is highly influenced by performance expectancy, facilitating conditions, social influence, hedonic motivation, effort expectancy, and trust. On the other hand, perceived safety risk as a moderator has no effect on buying behavior, independent of price value and customer habit.
REPORT COVERAGE:
|
REPORT METRIC |
DETAILS |
|
Market Size Available |
2022 to 2028 |
|
Base Year |
2022 |
|
Forecast Period |
2023 to 2028 |
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CAGR |
4.6% |
|
Segments Covered |
By Size, Type, Location, Component, Vertical, & Region |
|
Various Analyses Covered |
Global, Regional, and country-level analysis; Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities |
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Regions Covered |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
This research report on the global Interactive kiosk market has been segmented and sub-segmented into the following categories.
Global Interactive Kiosk Market - By Size:
The 17" -32" segment is the leading category of the interactive kiosk market. The most functional display sizes are those that fall between 17" and 32". Multimedia displays provide more user-friendly and captivating experiences. They also enable businesses to gather large amounts of data about customer behavior. The majority of digital kiosks are powered by the Android operating system, which lets users upload external software, surf the web, and install any app from the Google Play Store.
Global Interactive Kiosk Market - By Type:
The information kiosk segment dominated this category with a significant share of the interactive kiosk market. Businesses have saved money by using interactive kiosks, which remove the need to hire a big customer care staff. Digital information exchange allows firms to reduce their printing expenses. Real-time information updates are possible with digital signage kiosk solutions, which enhance the line of communication between you and your clients.
Global Interactive Kiosk Market - By Location:
The indoor kiosk segment is expected to account for a higher share of the interactive kiosk market. The market share of indoor kiosks is higher due to the increased interest in automation and self-service technology, particularly in the retail, banking, entertainment, transit, and hospitality sectors. Most indoor interactive kiosks are found in shopping centers, medical facilities, corporate and governmental buildings, banks, airports, casinos, and so on.
Global Interactive Kiosk Market - By Component:
The hardware segment is expected to be the largest segment under this category of the interactive kiosk market. Solutions for integrating and controlling various hardware components are created by system integrators and independent kiosk software developers. Software platforms are integrated by manufacturers with additional hardware elements to improve the functionality of interactive kiosks.
Global Interactive Kiosk Market - By Vertical:
The healthcare segment holds the maximum share under this category of the interactive kiosk market. During the global COVID-19 epidemic, interactive kiosks are helping the healthcare industry restrict the spread of the virus. In clinics and hospitals, self-service check-in interactive kiosks have become a commonplace feature to streamline check-in operations and enhance patient privacy.
Global Interactive Kiosk Market - By Region:
The North American interactive kiosk market is the largest, with the maximum share. Due to the growing number of food chain stores and public utilities, such as airports and seaports, that are implementing these interactive kiosks, the US interactive kiosk market is anticipated to develop over the projected period. Several commercial organizations are also making large expenditures to support the expansion of the interactive kiosk market share.
Europe's interactive kiosk market is expected to grow further during the forecast period due to the extensive use of interactive self-service kiosks in cities. Additionally, self-service kiosks provide many beneficial features to enhance urban living, like advertising, real-time transit feeds, free, limitless Wi-Fi access, and user alerts for emergencies. The increasing utilization of the Internet of Things (IoT) and other intelligent networked devices is augmenting the quality of the consumer experience.
The Asia Pacific interactive kiosk market is anticipated to grow at a faster rate in the coming years. Growing product sales, rising living standards, GDP growth, and increased consumer spending power will support the regional market expansion over the coming years.
Latin America's interactive kiosk market is projected to expand at a steady pace during the forecast period. The retail and BFSI sector's growing product usage is anticipated to be the driving factor in the market expansion. Interactive kiosk technology is developed and integrated by a few large manufacturers using Artificial Intelligence in the region.
Middle East and Africa interactive kiosk market is likely to have an upward trend in the market growth rate in the future. To boost operational efficiency, the service sector in the region is fully utilizing self-service kiosks. Companies that used kiosks instead of employees were able to significantly reduce their expenses. The kiosk industry is anticipated to gain significant traction in the upcoming years due to its widespread use in a variety of industries.
KEY MARKET PLAYERS:
The major players of the interactive kiosk market are KIOSK Information Systems (US), Olea Kiosks Inc. (US), Frank Mayer and Associates, Inc. (US), Source Technologies (US), NCR Corporation (US), Diebold Nixdorf (US), Embross (Canada), Meridian Kiosks (US), REDYREF Interactive Kiosks (US), Lilitab, LLC (US), KAL (UK), Acante Solutions Limited (UK), SlabbKiosks (US), Advantech Co., Ltd. (Taiwan), Intuiface (France), ZIVELO (US), Aila Technologies, Inc. (US), ADVANCED KIOSKS (US), DynaTouch (US), Peerless-AV (UK)
RECENT HAPPENINGS IN THE MARKET:
In May 2023, Samsung Electronics Co. Ltd. unveiled the KMC-W, a new high-performance kiosk based on Windows OS with improved software compatibility and advanced self-service display technology.
Frequently Asked Questions
Interactive kiosks find applications in various industries, including retail, healthcare, hospitality, education, government, and transportation.
Trends include the integration of AI (Artificial Intelligence), IoT (Internet of Things), contactless technologies, and the developing of smart, connected kiosk ecosystems.
Market trends include expanding self-service technologies, increasing adoption in emerging markets, and developing more advanced and feature-rich kiosk solutions.
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