Introduction to Self Service Kiosk
Self service kiosk is a small and interactive system at a fixed point which provides information access to the customers. Self service kiosk is used for processing orders or to facilitate an action. Self service kiosk improves customer experience by offering them multiple functions and features. These interactive kiosks are placed in shops, airports or hospitals to carry streamline operations.
Market size and Forecast
The market for self service kiosk is estimated to record a notable CAGR of around 8.80% during the forecast period, 2020-2028. The major key factors driving the growth of the market include rising consumer preferences regarding contactless payments along with the increasing usage of mobile wallets. In addition, these contactless payments allow customers to purchase items through their debit cards or credit cards in order to finish the transaction. Further, self service kiosk helps in effective buying pattern owing to their seamless performance along with the reduction in operational time. Moreover, the rising adoption of tablets and smart phones globally along with the shift in banks towards digitally advanced infrastructure is fostering the market growth.
Based on product type, the self service kiosk market is segmented into food & beverage kiosk, parking kiosk, retail kiosk, patient interactive kiosk, information kiosk, check-in kiosk and others, out of which, retail kiosk is estimated to dominate on the back of focus on self checkout along with the offering of advertisements without actually entering the retail stores. Further, retail kiosk provides product information and services in order to capture the attention of customers. Additionally, retail kiosk terminates long queues at payment desk on the account of facility of card payment module unified with kiosks. Moreover, rising smart retail stores deploying retail kiosks is boosting the market growth.
Popularity of Self-Service Kiosk Among Consumers
The rising operational activities within self service kiosk market in order to modify customer value and to influence consumer dining patterns is driving the market growth. Further, the rising demand for customised products and surge in the number of food outlets globally is fostering the demand for self service kiosk. In addition, touch screen self service kiosks are installed in retail stores, which in turn, is gaining considerable momentum among physical stores. The rising adoption of automated kiosks within restaurants in order to tackle heavy traffic volume of visitors is further accelerating the growth of the market over the forecast period.CLICK TO DOWNLOAD SAMPLE REPORT
Innovations and Technological Advancements
The rising advancements in technology have led to the development in self service services including self service kiosks. The innovations in self service kiosk offer additional value to consumers and service providers such as seamless demand fluctuation, convenience, reduced waiting time and standardization of services. Additionally, self service kiosks enable customers to use a service without the intervention of a service provider. These important factors along with the development in Near-Field Communication (NFC) and Radio-Frequency Identification (RFID) in security applications are estimated to generate healthy growth for the market during the forecast period.
The outbreak of COVID-19 pandemic is predicted as a major restraint in the growth of the market. The touch based self service kiosks are losing traction among consumers. Further, disruptions in supply chain along with trade restrictions are hampering the market growth over the forecast period.
High Initial Investments
The high initial investments related to self service kiosk owing to the advanced user interface software and touch screen is hindering the growth of the market.
Our in-depth analysis of self service kiosk market includes the following segments:
By Product Type
By Payment Method Type
By Component Type
By End Users
Geographically, the self service kiosk market is segmented into five major region including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market for self service kiosk in North America is anticipated to hold largest share in the region owing to the rapid adoption of self service kiosks along with the rising investments in the establishment of retail stores. Further, the rising disposable income of consumers in the region is leading to quick shopping experiences. Additionally, the well developed banking sector infrastructure and presence of quick service restaurants is driving the growth of the market. The Asia Pacific region is estimated to be fastest growing market on the back of rising installations of self service kiosk in metro cities along with the surge in penetration of digital solutions in healthcare infrastructure.
The self service kiosk market is further classified on the basis of region as follows:
Top Key Players Dominating the Market
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