Interactive Kiosk Market Expected To Hit USD 37.4 Billion at a CAGR of 12.40% by 2030 - Report by Market Research Future (MRFR)
Increasing Need for Automated Systems to Boost Interactive Kiosk Market Growth
New York, US, March 24, 2023 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), “Interactive Kiosk Market, By Component, By Type, By End Users - Forecast 2030, the market is anticipated to acquire a valuation of approximately USD 37.4 Billion by the end of 2030. The reports further predict the market to flourish at a robust CAGR of over 12.40% during the assessment timeframe.
Interactive Kiosk Market Key Players
Eminent industry players profiled in the interactive kiosk market report include-
International Business Machines Corporation (US)
Siemens AG (German)
Phoenix Kiosk, Inc. (US)
Advantech Co. Ltd. (Taiwan)
KIOSK Information Systems Inc. (US)
NCR Corporation (US)
KIOSK Information Systems (US)
NEXCOM International Co. (Taiwan)
Advantech Co. Ltd. (Taiwan)
Diebold Nixdorf (US)
Korala Associates Ltd (UK)
RedyRef Interactive Kiosks (US)
IER SAS (France).
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Interactive Kiosk Market Report Scope:
Revenue forecast in 2030
USD 37.4 Billion
CAGR of 12.40% from 2022 to 2030
Key Market Opportunities
These advanced solutions are likely to make the user experience smoother, faster, and better
Key Market Drivers
Increasing adoption of cashless vending machines which engaging more customers
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Interactive Kiosk Market Drivers
Increasing Need for Automated Systems to Boost Market Growth
The market for interactive kiosks is expanding as a result of rising demand for automated systems, since the smooth operation of self-service machines increases consumer satisfaction overall and cuts down on operational time when compared to manual services.
Interactive Kiosk Market Opportunities
Increased Adoption of Cloud Computing to offer Robust Opportunities
The market for interactive kiosks is changing as cloud computing and mobile becomes more widely used. The interactive kiosks for near-field communication devices and contactless payment systems have the quickest adoption of the cloud computing services. The deployment of cloud computing technology can satisfy the need that the interactive Kiosk system be based on single model & robotic analytics technique for the storage of the data.
Restraints and Challenges
Stringent Government Regulations to act as Market Restraint
The stringent government regulations, high initial investment, rising setup costs, increase in cybercrime incidences, and the requirement for frequent maintenance may act as market restraints over the forecast period.
Interactive Kiosk Market Segmentation
The interactive kiosk market is bifurcated based on end users, type, and component.
By component, hardware will lead the market over the forecast period.
By type, vending kiosks will domineer the market over the forecast period.
By end users, BFSI will spearhead the market over the forecast period.
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With only a few exceptions, the introduction of COVID-19 is detrimental to all industrial sectors. The impacts of the pandemic on interactive kiosks were not always clear-cut. Several industries have experienced terrible market conditions during the lockdown. People from all over the world preferred in staying at home and minimize human interaction in order to prevent diseases. The interaction of people with the devices in a public setting is essential to the growth of the interactive & self-service kiosk business. There did not seem to be a demand for more kiosks during that time because less people were walking the streets. On the other side, people tend to avoid close physical contact & proximity with the other people due to the possibility of illnesses. As the lockdowns are lifted and people resume travelling to public venues to acquire various services, self-service kiosks become useful in that region. Because of how useful these kiosks are now, there is an effect on the self-service kiosk business.
Interactive Kiosk Market Regional Analysis
North America to Head Interactive Kiosk Market
The largest market for interactive kiosks is located in North America. The market is anticipated to increase in order to maintain its control over the worldwide Interactive Kiosks market all through the forecast period as a result of technological advancements and the market proliferation of tablets, among other prevalent trends. The existence of well-established infrastructures and important actors in the area serves as a major driving factor, enabling the favorable climate to bring technological advancements. One of the most politically stable regions is North America, and it is anticipated that this tendency will continue in the years to come. A good sign for firms is the rising market demand. The major manufacturing firms are currently concentrating on putting innovative solutions into practice to meet the demands of tech-savvy customers. North America is anticipated to hold a substantial market share due to the strict standards and laws governing data privacy and security. The market that has gained the most traction so far is North America, which is expected to expand significantly over the next years. Many kiosk makers offering a variety of commodities and focusing on sales strategies to suit these demands from developing nations like India & others are leading to significant demand in countries like the United States. Key companies are expanding the economic potential for cash-handling equipment centered in these expanding markets as a result of the increasing growth of such emerging countries compared to Western nations. Important manufacturing companies are also focusing more on implementing innovative solutions to satisfy the demands of tech-savvy customers.
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APAC to Have Admirable Growth in Interactive Kiosk Market
During the projected period, the Asia Pacific region is anticipated to grow the fastest, developing into a booming market for the interactive kiosks. The market is expanding due to the booming retail and rapidly expanding sectors including BFSI, Travel, Media & Entertainment, and Healthcare, among others, fuel market expansion. The rise of organized retail, BFSI, tourism, & healthcare sectors is likely to cause the market in the Asia Pacific region to grow at the fastest rate during the forecast period. Also, over the next several years, it is anticipated that expanding product sales, a high standard of living, rising GDP, and higher consumer purchasing power would all contribute to the expansion of the regional market.
February 2023- Posiflex Technologies Inc. has introduced the Haydn ZT Series, a POS terminal with "clamshell" kiosk style that has a display chamber that can be opened and closed with a single touch. In comparison to servicing a terminal that is normally designed, maintenance can be completed four times more quickly.
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