Published: Jul, 2016
Kiosk marketing has emerged as a cost-effective way for companies across a wide range of industries in North America to promote their products in a manner that reduces operational costs while improving the overall customer experience. Fueled by the large-scale adoption of kiosks in sectors such as BFSI, travel and tourism, retail, advertisement, healthcare, government, and entertainment, Transparency Market Research (TMR) predicts that the kiosks market in North America is poised to witness immense growth in the coming years.
“With the threat to cyber security becoming increasingly real in recent years, kiosk manufacturers have been incorporating various advanced security features and systems into kiosks to protect confidential information of their customers,” the author of the study states. KIOSK Information Systems is one such company. In February 2016, the firm launched a remote monitoring application called CORE K-Nect, which ensures real-time visibility of an unattended kiosk. The other defining trend in this space is partnerships with security solutions providers to address security issues.
Benefits of Kiosks Outdo Limitations
“While the impact of kiosks in enhancing customer experience is likely to fade out in the long term, the impact of kiosks in improving sales will remain at a constant high throughout the forecast period,” a TMR analyst predicts.
Kiosks have proven their worth in increasing sales as well as efficiency across a wide range of applications. Today’s customers want to purchase products that are easily available, within their budget, and present the required information pertaining to ingredients, product details, nutritional value, and others. Products and information provided at kiosks cater to these very demands of the consumer, thereby boosting sales.
For instance, in 2014, lighting manufacturer RAB Lighting upped its sales by a massive 40% by using an iPad-turned-kiosk to market its latest product – the digital gondola.
On the other hand, high expenditure pertaining to the installation and authorization of kiosks threatens to hamper the growth of the North America kiosk market. “However, with ongoing technological advancements and the various benefits that kiosks present, this impact of this restraint will wane by the end of the forecast period,” the analyst states.
U.S. a Clear Leader in North America Kiosk Market; Surges Ahead by Volume and Value
“The North America kiosk market will witness significant growth over the coming years, fueled mainly by the dominance of the U.S.,” the TMR analyst predicts.
In 2015, the total revenue generated by this market was pegged at US$2.5 bn, which is forecast to rise to US$4.4 bn by the end of 2024 at a strong 6.1% CAGR therein. Accounting for a revenue share just short of 90% in the North America kiosk market in 2015, the U.S. has been leading the scenario thanks to the presence of established and dynamic players. The kiosk market in the country also dominates by volume. Retail and healthcare are the two major applications of kiosks in North America, with the retail sector emerging as the dominant and the fastest growing one. Within this sector, the use of kiosks for bill payment emerged as the largest sub-segment in 2015; in the healthcare sector, the use of kiosks for hospital information held the largest share.
This review is based on the findings of a TMR report titled “Kiosk Market: North America Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024.”
North America Kiosk Market: By Application
- Inventory Extension Kiosk
- Gift Registry Kiosk
- Bill Payment Kiosk
- Loyalty Kiosk
- Automated Retail Vending Kiosk
- Wayfinding/Directory Kiosks
- Patient Check-in/Check-out Kiosk
- Hospital Information Kiosk
- Human Resource Kiosk
- Virtual Receptionist Kiosk
- Patient/Physician Communication Portal
North America Kiosk Market: By Region
- Rest of North America