Kiosk Market Size, Share & COVID-19 Impact Analysis, By Kiosk Type (Retail, Financial, QSR, Tickets & Billing, Information, Self Service & Others), By Industry (Retail, BFSI, Hospitality, Entertainment & Gaming, Airports & Hotels, IT/ Telecommunication, & Others), and Regional Forecast, 2020-2027

The global Kiosk Market size was USD 18.15 billion in 2019 and is projected to reach USD 46.25 billion by 2027, exhibiting a CAGR of 12.5% during the forecast period.

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Kiosks are customized computer terminals that are designed for public use to provide information, provide objects, and enable transactions. These terminals are expected to empower businesses and consumers to perform automated self-service functions. They are designed to offer enhanced consumer experience, which makes them an essential investment for businesses adopting them into their processes.

COVID-19 Effect: Impact of Pandemic in the Retail & Tourism Industries is Expected to Restrain Market Growth

The impact of the coronavirus outbreak has been drastic in the Western countries. In the short term, the negative influence will be primarily experienced as a result of the disruption in the retail sector and global tourism activities along with difficulty in production, owing to reduced manpower at manufacturing facilities. The enormity of these disruptions increases as the time to recovery lengthens. Moreover, the impact on the retail industry will be far more extensive if the virus continues its course across major economies such as India, China, and Germany. In the long term, the industries related to this market are expected to be back on track, thus resulting in a considerable kiosks demand in the coming years.

LATEST TRENDS

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AI and Cloud Computing Technologies to Upscale Market Size

The Kiosk Market growth is likely to gain traction on account of increasing adoption of cloud computing in contactless payments solutions and Near Field Communication (NFC) devices. This requirement of data can be easily fulfilled by cloud and Artificial Intelligence (AI) technology in secure and reliable environments at low cost. Key players are focusing on integrating cloud computing with kiosks. These cloud computing services are enabled with ‘Analytics as a Service’ (AaaS) offerings that allow users to quickly program these machines without any need for external storage devices. Hence, these technologies provide wide functions and are expected to enhance this market size.

DRIVING FACTORS

Advances in Technology are Enabling Compelling Designs of Interactive Kiosks

Vendors are anticipated to continue to operate interactive kiosks to deliver their customers with online shopping prospects and to endorse products and services that are not housed in stores. Such interfacing capabilities are complementing retailers by providing compelling product demonstrations and also enabling retailers to sell products without stocking inventory. For instance, Decathlon, a prominent player in sporting goods, recently inaugurated its U.S. flagship high-tech merchandising location in Emeryville, California. Customers are no longer required to be in long checkout lines, thereby engaging directly with Decathlon associates on the retail floor, tapping them closer to the products that they are shopping. Using a sophisticated combination of technology solutions such as RFID, QR codes, and smartphone transactions, consumers can check out their purchases at any point within the store using their mobile phone, their Apple watch, gift cards, or traditional credit and debit cards.

RESTRAINING FACTORS

High Upfront Investment and Ongoing Financial Crisis to Hinder Market Growth

Several companies are automating the sales process by deploying smart kiosks, which requires diffusion of huge amounts of capital. This involves purchasing cost, process cost, and costs involved in maintaining the equipment. Furthermore, in the midst of the ongoing pandemic companies are facing troubles in adjusting to changing needs of the hour. The companies are currently going through a severe cash crunch, as a result of which they are required to even lay off some of their employees. This is expected to affect the companies in the coming years, with the severity of the crisis increasing daily and hampering economic activities at an unprecedented scale.

SEGMENTATION

By Kiosks Type Analysis

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Retail Kiosk Market Likely to Generate Significant Revenue

Based on type, the market is segmented into retail, financial, QSR, tickets & billing, information, self service, and others (photo kiosks, etc.).

This market segment have the highest market share, as these machines are widely installed across department stores, grocery stores, convenience stores, & specialty retailers. Information, self service, and retail kiosks provide necessary services to consumers such as non-stock product ordering, wayfinding directories, employment, product lookup, company information, and targeted offers.

Tickets & billings and financial kiosk facilities have been around for a long time. These are often utilized for bill payments as well as to perform activities such as financial services, cashback, money withdrawal & deposit at ATMs, and many other business functions.

By Industry Analysis

Airport & Hotels and Hospitality Segments to Exhibit Considerable Growth

The industry segment covered in this report includes retail, BFSI, hospitality, entertainment & gaming, airports & hotels, IT/ telecommunication, and others.

The retail industry is transforming the way customers involved with brands. With the increasing power of kiosk equipment, store owners can display a targeted range of goods to individual customers, feature loyalty promotions, and even provide fast and efficient payment methods. Retail kiosks offer several ways for businesses to improve customer experience and increase return on investment (ROI). The retail industry along with airport & hotels, and hospitality uses them for vending products, digital advertising, endless aisle, order entry, bill payment, and survey & wayfinding. Other than the kiosk for retail industries, the BFSI and entertainment & gaming industries are expected to register stable growth of this market in the coming years.

REGIONAL INSIGHTS

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Asia Pacific is expected to lead the Kiosk Market share as countries in the region such as China, India, & Japan are witnessing increasing adoption of self-service kiosks across their merchandising and service segments for enhancing their customer engagement. End users are progressively looking for better display sizes to engage consumers with high quality and better content display. This regional trend is gradually evolving customer satisfaction and engagement in commercial spaces. Additionally, increasing adoption in the banking and financial service sector will drive the industry at the fastest compound annual growth rate of 14.0 % from 2020 to 2027.

Europe & North America market are expected to emerge as prominent contributors to the growth of the global demand and will hold a substantial share during the forecast period. Growing preference of shops to reduce customer interaction with sales coordinators is anticipated to drive the regional demands during the forecast period.

The Middle East & Africa and Latin America are expected to post steady growth during the forecast period. The growth is owed to the initiatives taken by the businesses in these regions to increase customer engagement quality. Furthermore, increasing adoption of self checkout systems is expected to fuel the market in the coming years.

KEY INDUSTRY PLAYERS

Focused Efforts toward Digital Transformation with Increasing R&D Investments to Spur Competition

Leading market players such as ZIVELO, NCR Corporation, Diebold Nixdorf Inc., Glory Global Solutions (International) Limited, and Advantech Co., Ltd. have a dominant position, holding approximately 60%-65% share in this market. The established players are targeting for the digital transformation of commercial services by concentrating a significant part of the R&D budget on digital solutions & technological developments. Technologies such as Radio-Frequency Identification (RFID) and Near-Field Communication (NFC) in the fields of digital payment and security applications are also being installed to make them more secure. For example, ViaTouch Media announced AI-based interactive kiosks that automatically bill the customer when the products are picked from merchandising shelves.

List of Key Companies Profiled:

• ZIVELO (United States)


• Meridian Kiosks (United States)


• KIOSK Information Systems (United States)


• Olea Kiosks Inc. (United States)


• SITA (Switzerland)


• NCR Corporation (United States)


• Diebold Nixdorf, Inc. (United States)


• Advantech Co., Ltd. (Taiwan)


• Embross (Canada)


• Glory Global Solutions (International) Limited (United Kingdom)


• iQmetrix (Canada)

KEY INDUSTRY DEVELOPMENTS

• August 2019: UTS Global, a digital transformation solution company, announced partnership with ZIVELO. The partnership is aimed at providing an efficient and streamlined self-service process with unique workflow functionality.


• June 2018: Meridian Kiosks expanded it’s fabrication and assembly facilities at Aberdeen, North Carolina. The expansion will add 15,000 sq ft of space for assembly and 10,000 sq ft

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