According to a new report published by Allied Market Research, titled, “Interactive Kiosk Market By Type, Display Size and Industry Vertical: Opportunity Analysis and Industry Forecast, 2020–2027”, the global interactive kiosk market size was valued at $14.76 billion in 2018, and is projected to reach $32.51 billion by 2027, growing at a CAGR of 9.1% from 2020 to 2027. North America is expected to be the leading contributor to the global interactive kiosk market, followed by Europe and Asia-Pacific.
Interactive kiosk permits simple touch point and go navigation technology, which help every customer to interact easily. In addition, interactive system allows every customer to control their purchasing decisions, which ensure higher degree of individual satisfaction, and also captures large number of customers. Self-service kiosks are computer booth structures used for retrieving information, downloading photos, and printing pictures. The self-service providers are developing digital tools and customers service portals to allow customers to meet their own service demands. Self-service technology makes it easy for the customers to get answers without talking to the representative and helps provide fasters shopping experience.
Increase in demand for automated systems is majorly driving the growth of the interactive kiosk market, owing to seamless performance of the self-service machines it enhances the overall customer satisfaction and reduces the operational time. Moreover, such systems provide moving brand experience inside or outside the brick and mortar location. Thus, interactive kiosk technology has become emerging area of the retail industry. In addition, rapid developments in touch enabled technologies and consumers shift toward adoption of self-service systems also contributes to the interactive kiosk market growth.
Furthermore, emergence of advanced technologies offers enhanced visualizations in several industry verticals including education, corporate, retail, sports & entertainment, transportation, and others. Hence, advancement in interactive kiosk such as tele-kiosks with global positioning system (GPS) technology is expected to create stellar opportunities for the interactive kiosk market during the forecast period. However, stringent government regulations and high initial investment associated with self-service kiosk limit the growth of the interactive kiosk industry.
The self-service kiosk segment accounted for the maximum revenue and volume share in 2018 and is expected to dominate the market during the forecast period, owing to surge in demand for photo kiosk, information kiosk, check in kiosk, ticketing kiosk in different industry vertical including retail, baking, and others. This segment secured approximately 44.0% share in the global market. Further, this segment is expected to witness growth of around 8.2% from 2019 to 2026. The retail industry secured approximately 27.0% revenue share and 31.0% volume share in 2018. However, the BGSI segment is expected to grow at the highest CAGR of around 12.4% during the forecast period.
Based on region, the interactive kiosk market trends have been analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America accounted for a major share of the global market in 2018, and is expected to dominate the market in terms of revenue and volume during the forecast period, owing to rise in adoption of touchscreen kiosks in the government and retail sector.
Europe accounts for the second largest share in the global interactive kiosk market and is expected to witness significant growth during the forecast period. Surge in demand for interactive kiosk in public utilities such as shopping malls and airports is the key factors expected to drive the interactive kiosk market in Europe. Moreover, kiosks are also gaining popularity in this region and are majorly used for ticketing, banking, and financial assistance.
Key Findings of the Study:
In terms of revenue and volume, the self-service kiosk segment contributed the maximum interactive kiosk market size in 2018, and is expected to maintain its lead throughout the forecast period.
In 2018, the retail segment secured nearly 27.0% of interactive kiosk market share, which was the highest among all industry verticals.
In 2018, North America accounted for over a 40% share globally, and is expected to dominate the interactive kiosk market.
The key players profiled in the report include NCR Corporation, Kiosk Information Systems, Advantech Co., Ltd., Meridian Kiosk, Advanced Kiosks, Diebold Nixdorf Incorporated, Source Technologies, TouchScreen Solutions, Embross, and REDYREF. Market players have adopted various strategies such as product launch, collaboration & partnership, joint venture, and acquisition to expand their foothold in the interactive kiosk market.