Introduction to Interactive Kiosks
Interactive kiosk is a self-service device or a computer terminal designed for public use that delivers information or enables transactions with a user-friendly interface. It basically includes a computer and a display screen and allows customer input of data through an input device such as a touch screen or keyboard. It is also used for featuring specialized hardware and software that provides access to information and applications for entertainment, commerce, communication or education. Interactive kiosks are used for retail sales, bill payment, cash withdrawing and provide customers with information as well as the ability to participate in loyalty programs. Enterprises deploy kiosks to strengthen their brand with target customers, increase customer loyalty and reduce operational costs.
Market Size and Forecast
Rising demand for self-service devices, innovative interactive kiosks with touch screen display in retail stores and enhanced shopping experience for customers are some of the factors boosting the market growth. The interactive kiosks market is anticipated to record a significant CAGR over the forecast period, i.e., 2020-2028. The market is segmented by end user into BFSI, transportation, retail, hospitality, healthcare, and entertainment. Based on this, the segment for retail is anticipated to hold the leading share in the market on account of its in-store product information and promotional displays which attracts customer without the need for actual entry of shoppers in the stores. Further, retailers offer services such as self-directed bill payment, check-out, and digital signage.
Increase in Self-Service Systems Deployment to Boost the Market Growth
The rapid growth in self-service machines, wireless communication, and automated devices make it convenient for the customers to access services such as self-baggage check-in, ticket booking, self-check-out, information display and payment transactions used in retail stores, restaurants, hotels, airports, railway stations, malls, and metros. These enables customers to meet their own service demands and facilitates entire service experience with 24/7 availability without engaging with store representatives and waiting in long queues. This has resulted to a significant rise in demand for interactive kiosks. Furthermore, many banks and retail stores, owing to their limited infrastructure and work-force are turning towards cost-effective solutions to expand their operations and serve a larger consumer base. This is anticipated to significantly expand the interactive kiosks market. CLICK TO DOWNLOAD SAMPLE REPORT
Rising Adoption of Smartphones and Tablets to Drive the Market Growth
Studies have shown that majority of the people across the world are more convenient and versed towards touch screen devices and have shifted their preference to mobile payments option. This has created a direct positive impact on the deployment of touch screen technology devices which helps access specific information and allows retail industries to reach out customers in a more effective way. Owing to these personalized and customized experience along with the ease in transaction process, interactive kiosks have positively impacted the market growth. Moreover, with the inclusion of AI enabled innovative technologies such as GPS tracking and radio-frequency identification, manufacturers have come up with remote monitoring and scheduled maintenance services to facilitate business operations with high efficiency. This is propelling the growth of the interactive kiosks market.
High Initial Costs and Cyber Attack Risk to Hamper the Market Growth
Despite the advanced development in technology, there is high initial cost involved in setting up interactive kiosks as well as risk of intrusion of cyber frauds. This factor is estimated to hinder the growth of interactive kiosks market in the future.
Our in-depth analysis of the interactive kiosks market includes the following segments:
By Panel Size
By Application Type
By End Users
On the basis of regional analysis, the interactive kiosks market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
The market for interactive kiosks in North America is anticipated to hold the largest share in the market on account of presence of leading market players in the region which manufacture and market interactive kiosks. Moreover, there is an increased demand from retail, entertainment, travel, finance, and healthcare industries along with the growing emphasis on customer service and satisfaction in this region which further increases the product demand. The market in Asia Pacific region is predicted to grow at the highest rate during the forecast period as a result of rapidly expanding transportation infrastructure and high-tech services offered by retail and tourism industries. Additionally, owing to the digitalization in payment services, there is an increased penetration in banking and finance as well as in food and beverages sector, especially in countries such as China, India and Japan. This factors further raise the demand for interactive kiosks.
The interactive kiosks market is further classified on the basis of region as follows:
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