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Interactive Kiosk Market Is Poised To Reach USD 41.88 Billion By 2025




 

San Francisco, 18 Sep 2019 – The global interactive kiosk market size is expected to reach USD 41.88 billion by 2025, expanding at a CAGR of 8.9% from 2019 to 2025 according to a new study conducted by Grand View Research, Inc. Increased deployment and usage of interactive kiosks in the retail and banking sectors in developing regions, such as Asia Pacific, Latin America, and MEA, are expected to drive market growth over the forecast period. Majority of emerging countries in these regions have low penetration of digital banking infrastructure and organized retailing. These systems offer an ideal solution for serving consumers in such regions.

Over the years, the integration of new technologies, such as Near-Field Communication (NFC) and Radio-Frequency Identification (RFID), in interactive kiosks has helped companies deliver enhanced customer experience by simplifying payments and improving transaction security. Manufacturers are also working on developing novel capabilities, such as voice-based interaction and operation, in their products. These technologies will enable users to communicate with the interactive kiosks without any need for physical input. Interactive kiosks act as a significant tool for the expansion of business operations and enable companies to offer convenient, swift, and hassle-free services to customers while maintaining enhanced safety and security of financial transactions.

However, the threat of cyberattacks and high costs of installation, maintenance, and support associated with advanced solutions may hinder the market growth to a certain degree. Stringent regulatory and legal standards, such as the General Data Protection Regulation (GDPR), Americans with Disabilities Act (ADA), and Underwriters Laboratories (UL) standards, are the major challenges stymying the wider adoption of interactive self-service kiosks. The GDPR compliance focuses on the protection of the customers? private data for better safety. ADA standards provide design requirements and specifications for manufacturing, construction, and alteration of any public access system for disabled individuals. Thus, OEMs are continuously innovating their products to meet regulatory and legal challenges in regional markets.

Further key findings from the study suggest:

Service segment will register the fastest CAGR over the forecast period due to high demand for managing and upgrading existing infrastructure in BFSI and retail sectors
Declining prices of hardware and improved transaction safety features have led to the increased adoption of interactive systems in the BFSI segment
The healthcare end-use segment is expected to witness the highest CAGR of 10.4% over the estimated period
Increased adoption of interactive kiosks in areas, such as telemedicine, appointment booking, and automated medicine dispensing, will drive the segment growth
Asia Pacific market is estimated to witness the highest CAGR as MNCs in retail, healthcare, and F&B continue to expand their business operations and presence in the region, resulting in increasing deployment of interactive systems these sectors
Key industry participants in the market include Embross; NCR Corporation; Slabb, Inc.; Advanced Kiosks; Source Technologies LLC; IER SAS; RedyRef; Meridian Kiosks LLC; Diebold Nixdorf, Inc.; Advantech Co., Ltd.; KIOSK Information Systems, Inc.; ZEBRA Technologies Corp.; and NEXCOM International Co., Ltd.





Posted by on 18. September 2019. Filed under Picture Gallery, Telecommunication. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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