December 4, 2020

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Interactive And Self-Service Kiosk Market- Hardware Component Segment Dominated the Global Market

The overall interactive and self-service kiosk market worldwide was valued at US$ 23.45 Bn in 2018 and is set to grow with a CAGR of 9.1% during the forecast period.

Market Insights

The interactive and self-service kiosk market is primarily driven by growing adoption of smart technologies in retail, and banking industries. Globally, self-service kiosk desks are being implemented mainly to develop the operational efficiency with an aim of time management. Additionally, development of modern infrastructure and smart cities are increasing the significance of kiosks and thus have enhanced its adoption across various developed and developing regions. Furthermore, apart from commercial applications, the self-service kiosks systems also have gained momentum in industrial sector.

For many businesses, these systems help in analyzing the consumer behavior and purchasing pattern. Companies also use the kiosks systems to enhance and improve their service offerings. Moreover, increasing applications of interactive and self-service kiosk systems in healthcare, manufacturing and government sector are also fueling the growth of this market. However, high installation cost, complex maintenance and support services, increasing threat of cyber-attacks and complex handing of the systems are likely to restrain the growth of the market during the forecast period.

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Based on component, the interactive and self-service kiosk market is segmented into hardware, software and services. The hardware segment dominated the market in 2018, however services segment is likely to witness a fastest growth of over 13% during the forecast period. Also, based on end users, the market is segmented into BFSI, retail, food & beverage, healthcare, government, travel & tourism and other end users. Adoption of interactive and self-service kiosk in healthcare sector is projected to witness fastest growth of over 11.0% during the forecast period. This growth is mainly attributed to increasing applications in telemedicine, automated medicine dispensing, record keeping and appointment management.

Geographically, the interactive and self-service kiosk market is segmented into North America, Europe, Asia-Pacific, and Rest of the World. North America dominated the global market in 2018 with a market share of more than 40%. This market position is mainly attributed to increasing adoption of smart devices and equipment in retail, banking, and hospitality industries. Meanwhile, Asia-pacific region is expected to witness a fastest growth of around 15.0% during the forecast period. Also, European region is also witnessing a significant growth based on increasing adoption and growing applications of self-service kiosks systems across various industries.

Some of the prominent players operating in the interactive and self-service kiosk market include NCR Corporation, Elpro Technologies Pty. Ltd., Olea Kiosks Inc., Toshiba Tec Corporation, Crane Co., Azkoyen SA, Diebold Nixdorf, Inc., Phoenix Kiosk Inc., Fuji Electric Co., Ltd., Fujitsu Ltd., GRG Banking Equipment Co., Ltd., and Acrelec Group.

Hardware Component Segment Dominated the Global Market

Based on component, the interactive and self-service kiosk market is segmented into hardware, software and services. The hardware segment dominated the market in 2018 by holding a share of over 40% of the total revenue generated. This large market share is attributed to increasing adoption of kiosk machines. Large number of kiosk machine such as ATMs, self-checkout systems, ticketing machines, and smart vending machines, are being set-up in various public places. However, software and services segments are projected to grow at substantial CAGR during the forecast period. Penetration of latest technology components, digitization, and internet signal transmission are contributing to the growth of these segments.

Asia-Pacific To Witness a Fastest Growth in the Market by Region

In 2018, North America held prominent position in the global interactive and self-service kiosk market. This market position is mainly attributed to increasing adoption of smart devices and equipment in retail, banking, and hospitality industries. Meanwhile, Asia-pacific region is expected to witness a fastest growth of around 15.0% during the forecast period. Large number of airports in countries such as Japan, India, China, and South Korea are implementing self-service kiosk systems to help fasten the ticketing and boarding process. Also, development and establishments of modern infrastructure are likely to fuel the growth of interactive and self-service kiosk market in this region.

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