Kiosk (Self-service/Interactive Kiosk) Market

Kiosk (Self-service/ Interactive Kiosk) Market to Gain Traction with Self-Service Trends

Currently, the kiosk (self-service/ interactive kiosk) market has a great potential to empower customers and enable them to do things on their own. Self-service kiosks have made breakthrough progress, and this can be seen in their expansive, time-saving, and cost-effective solutions that strike the right chord with consumers.

Self-service kiosks are showcasing myriad product dispensing capabilities. In addition, there has been the evolution of self-service kiosks for cryptocurrency mining. These sophisticated kiosks utilize a multi-algorithm mining platform that helps mine and cull out the most profitable coins that will give customers maximum return on investment.

While self-service kiosks in banking are automating banking solutions such as mortgage approvals, some digital kiosks are also being used as an advertising platform by small-scale and large-scale businesses. These allow business stakeholders to interact with customers in a very cost-efficient manner. Such a rapid and paradigm shift in kiosk technology will continue to drive the kiosk (self-service/ interactive kiosk) market in a significant manner.

To get glimpse of what our report offers, ask for a report brochure here

6 out of 10 Self-service/Interactive Kiosks are Sold to the Retail Industry

Self-service/interactive kiosks are in the limelight now with the advent of robotics, AI, and analytics. User-friendly and interactive experiences through kiosks have fueled the growth of this market amid many competitors within this arena. With the increasing use of kiosks across versatile industrial applications, the market for kiosks (self-service/ interactive kiosks) is anticipated to grow to a valuation of ~US$ 2.4 billion by 2027.

Kiosks (self-service/interactive kiosks) have been ubiquitous across various channels, especially in retail outlets such as shopping malls and product showrooms. Digitization has teamed up with retail to provide a novel, convenient, and cash-less experience to shoppers.

According to TMR analysts, the retail segment of the kiosk (self-service/ interactive kiosk) market holds ~60% volume share of the market, due to increased competition as well as growth of retail as a consumer industry.

Kiosks are becoming speedier, dynamic, and more efficient and versatile. This can be evidenced in the massive innovations that have been promulgated in the kiosk (self-service/ interactive kiosk) market.

• Dressing room/ trial room kiosks are allowing customers to access custom-built software that is powered by an IOS device. Through this, they can view product portfolios, ask for other sizes and styles, check for gift options, and access a host of other options without having to leave the fitting/ trial room. Store managers can receive notifications and give the customer the desired feedback that he/she wants.
• Hands-free kiosks use an emerging 'machine vision technology', wherein, the customer can use pointing gestures for his on-screen selections. The kiosk assimilates the customer demographics and responds accordingly.
• Robotic kiosks use advanced analytics and AI to enable express check-outs. The kiosk recognizes the customer as per his/her age and gender, and gives out customized information. It also prompts receipt and bar code scanning.

These newer kiosk functionalities are re-shaping the way we think and approach retail. With the shopping experience becoming more convenient for the shopper and kiosk deployer, the kiosk (self-service/ interactive kiosk) market will continue to gather momentum.

Looking for Customized Insights to build your business for future, ask for a sample report here

Digital Signage and Airport Kiosk Technology are Opening New Avenues of Growth

Airport Kiosks and e-gates are not only adding intrinsic value to the customer experience, but are also leveraging customer spending. The kiosk (self-service/ interactive kiosk) market will witness the fastest growth in the transportation segment over the forecast period.

In order to avoid long queues and delays at airports, airport managements are increasingly turning to self-service, automated kiosks for bagging, document scanning, flight re-booking, and check-ins. Smart kiosks at airports are using digital biometrics ID management to automate the entire travel experience, right from check-in to boarding. This driving factor is expected to have a high impact on the market’s growth during the forecast period.

Interactive digital signage kiosks are a critical technological intervention for displaying pertinent information and keeping customers engaged across different industry verticals. Sophisticated AI tools on digital signage kiosks are rapidly changing the kiosk (self-service/ interactive kiosk) market, allowing installers to get maximum gains on their investments, and giving users a diversified shopping experience. The elimination of printed signage is not only a cost-effective strategy but also reduces the wastage of paper. Since the software used in digital signage involves rapid updation, the entire process becomes cheaper and more efficient. Such a digitally-immersive experience will bolster the demand for digital signage kiosks and give an impetus to the growth of the kiosk (self-serving/ interactive kiosk) market.

To get a bird’s eye view of Global Kiosk Market forecasts, ask for a Custom Report

Competitive Landscape Poised for Growth

The competitive landscape is showing a highly fragmented market, with a large number of industry players vying to gain a stronghold. Major companies such as ZIVELO, Diebold Nixdorf, NCR Corporation, Evoke Creative Limited, and Zytronic PLC collectively held a market share of ~35% in the year 2018. Their expansion in developing economies, along with robust hardware and software solutions have enabled them to expand and make a significant contribution to the global kiosk (self-service/ interactive kiosk) landscape.

Both Diebold Nixdorf and NCR Corporation are enhancing their services and solutions by offering advanced technologies such as cloud-based platforms and high-quality interactive kiosks. Diebold Nixdorf, in particular, is strengthening its position through acquisitions and collaborations. For instance, in Oct 2018, Diebold entered into a profitable collaboration with Mastercard to accelerate the growth of banking, payments, and retail options through digitized, managed services. This will be done through self-service solutions and the installation of kiosks.

NCR Corporation is one of the leading players in the kiosk (self-service/ interactive kiosk) market. It offers diverse and specialized solutions in retail, hospitality, telecommunications, and finance. In July 2019, NCR Corporation acquired D3 Technology Inc., a mobile banking specialist. This acquisition will allow NCR Corporation to expand its digital footprints in the banking sector as well.

Emerging companies such as Meridian Kiosks LLC, REDYREF, Kontron AG and JCM Hlobal held a market share of ~17% in the year 2018. These companies are jointly focusing on providing technological solutions to their customers in the kiosk (self-serving/ interactive) kiosk market. Meridian offers self-service solutions in kiosks, customized kiosks, and kiosk security solutions. In Nov 2018, Meridian partnered with Samsung SDS America. Samsung SDS provides advanced solutions in the arena of secure mobility and advanced analytics. The joint forces of both companies will use their common expertise to produce out-of-the-box digital signage solutions that will propel their growth in the market.

Kontron AG has a highly diversified product portfolio, wherein, it offers hardware, middleware, and other services to its customers. The company offers OEM solution and indoor/outdoor kiosks highlighting check-in services, banking, digital signage, and entertainment solutions. In Aug 2019, Kontron signed a deal with Fujitsu Technology Solutions to acquire its mainboard business. It is a well-timed, strategic step taken by Kontron to expand Fujitsu’s products and integrate them into its own inherent IoT technology. This will allow it to not only expand in the kiosk (self-serving/ interactive kiosk) market, but also offer a high-quality and refined product portfolio to its customers.

The Analysts Speak

A comprehensive view of the kiosk (self-serving/ interactive kiosk) market has led our analysts to conclude that, the market is growing at an impressive rate, with North America and Europe emerging as the leading regions for the global demand for kiosk (self-serving/ interactive kiosk) uses and applications. The rising demand for kiosks (self-serving/ interactive kiosks) and their versatile usage in diverse facilities such as retail, transportation, banking, and healthcare are spurring their demand. The impact of digitization on the kiosk (self-serving/ interactive kiosk) market will remain high, globally, fuelling the demand for kiosks due to enhanced user experience and increased cost savings. The incorporation of digital signage is spurring the demand for kiosks (self-serving/ interactive kiosks). Strong financial collaborations, strategic partnerships, and technological innovations of key market players will also give impetus to the kiosk (self-serving/ interactive kiosk) industry.

Technological breakthroughs such as self-serving kiosks for cryptocurrency mining, AI-powered kiosks, and kiosks that use cloud storage could provide insights to key industry stakeholders as an efficient data management and time-saving strategy, thereby increasing the profit margins of market players. Companies with research & development capabilities and technological prowess will gather momentum and profitability in the kiosk (self-serving/ interactive kiosk) market. Leading players who are leveraging technology will continue to grow exponentially and have a vast market revenue share. However, the exponentially increasing costs of installation and concerns surrounding cyber security of sensitive data could restrain the growth of the kiosk (self-serving/ interactive kiosk) market.