The global kiosks market is anticipated to rise at a stellar CAGR of 13.3% during the forecast period. In 2018, the market was worth US$ 16.88 Bn and is estimated to reach US$ 45.73 Bn by 2026. Fortune Business Insights in a new report, titled “Kiosks Market Size, Share and Global Trend By Type (Retail Kiosks, Financial Kiosks, QSR Kiosks, Tickets & Billing Kiosks, Information Kiosks, Self Service Kiosks & Others), By End-Use Industry (Retail, BFSI, Hospitality, Entertainment & Gaming, Airports & Hotels, IT/ Telecommunication & Others) and Geography Forecast till 2026” highlights key trends prevailing in the market. Kiosks are primarily used in businesses as they offer information and application on several sectors including entertainment, education, commerce, and others. It is estimated that kiosks can help businesses grow as a kiosks system enhances customer buying experience, saves time & cost, and increases customer base. In addition to this, kiosk machines are a great way to feature a new product or service, thus helping in branding and advertising. Spurred by these benefits, the kiosks market demand is expected to spur in the foreseeable future. Customers now demand interactive features while making a purchase decision, which is encouraging companies to adopt kiosk technology. This, in turn, will foster the kiosks market growth over the projected horizon.
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Kiosks to Predominantly Benefit the Retail Space
As per type, there are different types of kiosk systems. These include retail, financial, QSR, tickets & billing, information, self-service, and other kiosks. Of these, financial kiosks are expected to hold the majority share in the global market. Financial kiosk services help in the bill payment for courts or utilities. In addition to this, one of the most recent trends seen is the use of customer-friendly android and iPad tablet kiosks for selling financial services. Apart from the financial kiosk, retail kiosks are also expected to cover a considerable share in the market, favoring the kiosks market size. As per the report, retail kiosks account for 19.1% of the share in the overall market. These types of kiosks are majorly installed at specialty retailers, department stores, convenience stores, and grocery stores. Some of the distinguished services offered by retail kiosks are wayfinding directories, product lookup, employment, and others. These services are meant to enhance customer awareness and improve their overall retail experience. A strategically-placed retail kiosk can offer a wealth of information to a tech-savvy customer. The customer can further seek information by browsing through latest stores and more.
Experience and Engagement: The 2 Important E’s in Retail Industry
Retail stores are increasingly installing kiosks to increase customer experience. Furthermore, these stores continue to maintain their focus on customer engagement as it helps them to understand their customers better. Retail stores use kiosks for digital advertising, wending products, bill payment among others. For instance, ViaTouch Media announced the launch of an AI-based interactive kiosk, helping customers to automatically prepare bill while they pick products from merchandising selves. Other companies are also planning to offer pre-emptive maintenance and remote monitoring services with an aim to track functioning, problems if any, and maintenance of kiosks. Owing to such benefits, the kiosks market revenue is expected to surge in the forecast years.
The report profiles some of the leading players in the global kiosks market. Some of them include Meridian Kiosks, Olea Kiosks Inc., ZIVELO, KIOSK Information Systems, SITA, Embross, and REDYREF. In May 2019, ZIVELO plans to expand its service by offering turn-key kiosk solutions to its customers. The company collaborated with Dell Technologies to bring technological transformation sin self-service kiosks.
Europe and North America to Witness the Highest Demand for Kiosks
Europe and North America are estimated to be the prime contributors to the global kiosks market between 2018 and 2026. The market is expected to dominate in these two regions owing to the rising adoption of advanced technology. People in these two regions prefer to visit stores that don’t include interaction with sales personnel. This factor is expected to spur the kiosks market share in these two regions. Banks in rural areas lack advanced banking infrastructure. As kiosks are economically viable, banks can employ kiosks to expand their services and increase their customer base.
The kiosks market in Asia Pacific is estimated to exhibit considerable growth in the forecast horizon. Countries such as India, Japan, and China are adopting self-service kiosks to assist customer engagement. This, as a result, will positively impact the kiosks market revenue.
TABLE OF CONTENT:
- Research Scope
- Market Segmentation
- Research Methodology and Assumptions
- Executive Summary
- Market Dynamics
- Drivers, Restraints and Opportunities
- Emerging Trends of Market
- Key Insights
- Macro and Micro Economic Factors
- Key Technological Developments
- Price Trend Analysis
- Porter’s Five Forces Analysis
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