Transparency Market Research delivers key insights on the global self-service kiosk market. In terms of revenue, the global self-service kiosk market is estimated to expand at a CAGR of 11% during the forecast period, owing to numerous factors regarding which TMR offers thorough insights and forecasts in the global self-service kiosk market report.
In the report, TMR predicts that the global self-service kiosk market would be largely driven by factors such as rising consumer demand for quick shopping experiences. Innovations in technology and design of self-service kiosks is expected to boost their demand in the coming years.
According to the self-service kiosk market report, the product segment includes food kiosk, beverage kiosk, retail kiosk, parking kiosk, electric vehicle charging kiosk, patient interactive kiosk, information kiosk, employment kiosk, check-in kiosk, automated teller machines kiosk, and others. At a global scale, food businesses that employ self-service kiosks can expect a 13% increase in average spend per person. Rising consumer spend through kiosks is driving food product sales globally.
Fast food chain owners prefer to install self-service kiosks to decrease product delivery time and increase their average revenue with more customer engagement.
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In terms of payment mode, the has been bifurcated into cash payment and non-cash payment. The work economy has been shifting toward cashless transactions. Governments of different countries are encouraging people to use cashless transections.
Consumers generally prefer to make cashless transactions while purchasing products from self-service kiosk. Companies are selling a large kiosk portfolio with non-cash payment technologies. The self-service kiosk market is highly fragmented. Large number of small, medium, and large companies operate in the market at the global and domestic level. Companies work on product innovation to increase their market reach.
Demand for self-service kiosks is rising across developing countries. Several end-use industries are using interactive kiosks for diverse needs, ranging from food self-service, beverage self-service, check-in, ticketing, information, patient interaction, and parking, to human resource industry, photo printing, electronic product and electric vehicle charging, and clothing retail.
Demand for cashless payments is rising in developing countries. Increasing consumer acceptance of online transactions has been one of the major growth drivers of the self-service kiosk market. However, with requirement of high initial investment in such systems, demand for self service kiosks is expected to slowdown in underdeveloped countries. COVID-19 has created a slowdown in the kiosk market. The world economic crisis as a result of the pandemic has led to reduced demand for kiosks in different countries.
Interactive kiosk suppliers are increasing their production of self-service kiosks to supply them to end-use industries. NCR Corporation, a global interactive kiosks and ATM supplier, is increasing its production of interactive, self-service kiosks and ATMs in order to meet the increasing demand.
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Self-service Kiosk Market: Prominent Regions
Presently, North America dominates the global self-service kiosk market followed by Europe. North America is seeing increasing installation of kiosks in crowded places. It has been observed that consumers are more inclined toward purchasing products from kiosks in the U.S. and Canada. High disposable income coupled with demand for quick shopping experiences by decreasing queue waiting time is driving the market growth. The U.S. accounted for major market share in North America.
Demand for self-service kiosks in developing regions such as Asia Pacific is expected to increase significantly during the forecast period. The Asia Pacific self-service kiosk market is driven by the rising preference for queue-less shopping experiences in China and India. Moreover, rising consumer awareness about the usefulness of self-service kiosks is driving the market growth.
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