Pune, India, Sept. 07, 2021 (GLOBE NEWSWIRE) -- The global kiosk market size is projected to reach USD 51.05 billion by 2028, exhibiting a CAGR of 12.3% during the forecast period. Rising adoption of smart and interactive kiosk across several retail outlets will boost the growth of this market, states Fortune Business Insights™ in its report, titled “Kiosk Market, 2021-2028”. The market size stood at USD 20.29 billion in 2020.
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List of Key Companies Profiled in the Market Report:
• iQmetrix (Canada)
• Embross (Canada)
• Diebold Nixdorf, Inc. (United States)
• SITA (Switzerland)
• KIOSK Information Systems (United States)
• ZIVELO (United States)
• Glory Global Solutions (International) Limited (United Kingdom)
• Advantech Co., Ltd. (Taiwan)
• NCR Corporation (United States)
• Meridian Kiosk (United States)
REPORT SCOPE & SEGMENTATION:
| Report Coverage | Details |
| Forecast Period | 2021 to 2028 |
| Forecast Period 2021 to 2028 CAGR | 12.3% |
| 2028 Value Projection | USD 51.05 Billion |
| Base Year | 2020 |
| Market Size in 2020 | USD 20.29 Billion |
| Historical Data for | 2017 to 2019 |
| No. of Pages | 120 |
| Tables, Charts & Figures | 60 |
| Segments covered | Type; Industry; and Region |
| Growth Drivers | Advances in Technology are Enabling Compelling Designs of Interactive Kiosks |
| Introduction of Self-service Kiosk by New York & Company to Intensify Market | |
| Retail Kiosk Likely to Generate Significant Revenue | |
| Pitfalls & Challenges | High Upfront Investment and Ongoing Financial Crisis to Hinder Market Growth |
COVID-19 Impact:
Unprecedented Downfall in Tourism & Retail Operations to Halt Growth amid COVID-19
The kiosk market growth is unlikely to escape the fury of the COVID-19 pandemic as the crisis has caused a major setback to the tourism and retail industries. According to the UN World Tourism Organization (UNWTO), international tourist numbers fell by 98% in May 2020, resulting in an approximate loss of USD 320 billion for the global tourism industry. The retail industry has been suffering as well, since lockdowns and social distancing measures are forcing consumers to stay at home, leading to sharp decline in foot traffic in retail outlets. For example, according to the Trust for Retailers & Retail Associates of India (TRRAI), the Indian retail sector is likely to face a 25-30% business impact. In tourism, these systems are extensively utilized for booking tickets, taxis, filling out immigration forms, getting flight information, etc. In retail, kiosks are necessary to simplify shopping for customers. With activities in both sectors contracting, the demand for such machines will inevitably plunge during the pandemic.
Market Segments:
Based on type, the market is categorized into retail, financial, QSR, tickets & billing, information, self-service, and others (photo, etc.).
Based on industry analysis, the market is classified into retail, BFSI, hospitality, entertainment & gaming, airports & hotels, IT/ telecommunication, and others.
Geographically, the market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
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Driving Factor:
Introduction of Self-service Kiosk by New York & Company to Intensify Market
Self-service and interactive kiosk embedded with smart technologies are being increasingly deployed in the retail industry as they provide quick access to customers to check out the products they wish to buy. They also boost employee efficiency, as the employees, free from catering to individual customers, can engage in more productive tasks in the store. As a result of these benefits, retail brands and outlets are actively installing these terminals in their shops to maximize customers’ shopping experience. For example, New York & Company is merging its in-store and online retail operations by launching self-service machines in select stores across the United States. Similarly, Amazon Go is planning to launch retail stores in London, which will have grab-and-go kiosk and will be devoid of any cashiers or salespersons.
The report provides the following:
- Meticulous examination of all market segments;
- Careful study of the trends and other factors influencing the growth of the market;
- Actionable research into the regional developments and competitive milieu of the market; and
- Comprehensive analysis of the overall industry outlook and market prospects.
Regional Insights
Rapid Expansion of Retail Sector in China and India to Favor the Asia Pacific Market
With a market size of USD 5.53 billion in 2020, Asia Pacific is anticipated to lead the market share during the forecast period. The primary factor fueling the regional market is the speedy growth of the retail sector in India and China, where the popularity of self-service terminals in retail stores is soaring. In addition, increasing investment by companies in smart kiosk in the region will generate multiple opportunities for the expansion of the market.
In Europe and North America, the installation of kiosk in retail outlets is accelerating as stores are looking for solutions to reduce customer-salesperson interactions and make the purchase experience as smooth as possible.
Competitive Landscape
Key Players to Concentrate Energies on Developing Cutting-Edge Solutions
Key players in this market are concentrating their innovation energies on developing kiosk equipped with cutting-edge technologies, which is enabling them to cement their market position. These products are designed to function across multiple domains, ensuring high customer satisfaction and broadening the companies’ sales potential.
Industry Development:
April 2021: Advanced Kiosk signed an agreement with United States housing authorities for delivering self-service kiosk solutions, thus improving customers’ experience with safety and security during the COVID-19 pandemic.
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Detailed Table of Content
- Introduction
- Definition, By Segment
- Research Approach
- Sources
- Executive Summary
- Market Dynamics
- Macro and Micro Economic Indicators
- Drivers, Restraints, Opportunities and Trends
- Impact of COVID-19
- Short-term Impact
- Long-term Impact
- Competition Landscape
- Business Strategies Adopted by Key Players
- Consolidated SWOT Analysis of Key Players
- Porter’s Five Forces Analysis
- Global Kiosk Market Share Analysis and Matrix, 2020
- Key Market Insights and Strategic Recommendations
- Profiles of Key Players (Would be provided for 10 players only)
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- Overview
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- Key Management
- Headquarters etc.
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- Offerings/Business Segments
- Key Details (Key details are subjected to data availability in public domain and/or on paid databases)
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- Employee Size
- Key Financials
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- Past and Current Revenue
- Geographical Share
- Business Segment Share
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- Recent Developments
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- Primary Interview Responses
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