Pune, May 21, 2020 (GLOBE NEWSWIRE) -- The global kiosk market size is anticipated to witness remarkable growth on account of the rise in the adoption of technological advancement in machinery and equipment and reach USD 45.7 billion by the end of 2026. Kiosk technology is used for providing applications and information on commerce, education, entertainment, and other business purposes. According to a recent report published by Fortune Business Insights titled “Kiosk Market Size, Share and Industry Analysis By Type (Retail Kiosks, Financial Kiosks, QSR Kiosks, Tickets & Billing Kiosks, Information Kiosks, Self Service Kiosks & Others), By End-Use Industry (Retail, BFSI, Hospitality, Entertainment & Gaming, Airports & Hotels, IT/ Telecommunication & Others) and Regional Forecast, 2019 - 2026,” the market value stood at USD 16.9 billion in 2018 and is likely to rise at a CAGR of 13.3% between 2019 to 2026.
What are the Highlights of the Report?
The report offers a comprehensive overview of the market and its prime growth trajectories such as factors propelling, repelling, challenging, and offering opportunities for the market. It also focusses on major industry developments of the market, current trends prevalent, and other i9jnteresting insights into the market. Detailed segmentation of the market is also provided based on factors such as type, end0use industry, and geography with the names of leading segments and their attributed factors. The report is available for sale on the company website.
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An Overview of the Impact of COVID-19 on this Market:
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Drivers & Restraints-
Innovations in Glass Technology to Aid in Expansion of Market
Kiosk technology was introduced for changing the economics of all industries. The rise of unattended retail and an increase in the need for enhanced shopping experience for consumers worldwide is promoting the kiosk market growth. Besides this, these devices are used for empowering consumers to perform automated self-service functions in applications such as point-of-sale systems, ATMs, self-payable gas pumps, and others, thereby augmenting the growth of the market in the forecast period.
On the other side, the increasing number of cybercrime incidents and high cost of setup and regular maintenance costs may pose major hindrances to the market. Nevertheless, innovations in glass technology and touch screen display, coupled with the enhanced application experience is likely to create more opportunities for the market in the coming years.
Segment-
Financial Kiosks Segment to Emerge Dominant with Utility Pay option at Several Outlets
Based on type, the financial kiosks segment holds the largest kiosks market share as they are the first form of utility payment technology and have been successfully attracted significant revenue in the past. However, the retail segment will emerge remarkably in the coming years with an estimated 19% of the entire market share owing to the current trend of easy payment technologies.
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Regional Analysis-
North America and Europe to Contribute Major Shares Owing to Presence of Advanced Banking Foundation
Both Europe and North America are holding significant shares in the market on account of the rise in preference for shops that do not hire salespeople for revenue generation. Consumers can follow the self-help service and can purchase goods and products. In 2018, Europe earned a revenue of USD 4.5 billion. Additionally, most of the banks lack proper infrastructure in terms of technology especially in rural areas. Employing kiosk solutions in such areas will help expand banking operations thereby augmenting the market growth.
Asia Pacific on the other hand is likely to rise rapidly in the coming years with India, Japan, and China on the lead. This is owing to the rise in the adoption of self-service kiosks throughout the merchandising and servicing sectors to improve consumer engagement.
Competitive Landscape-
Producers Offering Remote Monitoring and Pre-emptive Maintenance Services for Better Revenue Generation
The market is fragmented in nature on account of the presence of many players. They are aiming at digital transformation by investing in technological developments and digital solutions such as Near-field Communication (NFC), Radio-Frequency Identification (RFID) in security, and digital payment options. Besides this, players are engaged in developing services that can help companies to schedule maintenance, track operations, and identify problems. The increased efforts to offer pre-emptive maintenance services and remote-monitoring services will help players gain a competitive edge in the market in the coming years.
Major Industry Developments of the Kiosks Market include:
May 2019 – Dell Technologies OEM Solutions and ZIVELO entered into a joint venture for offering full-service turn-key kiosk solutions in the North American market.
June 2019 – A new location with the XPR Kiosk machine was inaugurated by Asian Grill following the implementation of XPR’s mobile application and self-ordering kiosks.
Fortune Business Insights™ lists out the names of players operating in Kiosk Market. They are as follows:
- NCR Corporation
- ZIVELO
- Glory Global Solutions (International) Limited
- REDYREF
- Meridian Kiosks
- KIOSK Information Systems
- Embross
- Olea Kiosks Inc.
- Advantech Co., Ltd.
- SITA
- Diebold Nixdorf, Inc.
- Other players
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Detailed Table of Content
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology and Assumptions
- Executive Summary
- Market Dynamics
- Drivers, Restraints and Opportunities
- Emerging Trends of Market
- Key Insights
- Macro and Micro Economic Factors
- Key Technological Developments
- Price Trend Analysis
- Porter’s Five Forces Analysis
- Consolidated SWOT analysis of Key Players
- Global Kiosks Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Sizing Estimations and Forecasts – By Type (US$ Mn and Million Units)
- Retail Kiosks
- Financial Kiosks
- QSR Kiosks
- Tickets & Billing Kiosks
- Information Kiosks
- Self Service Kiosks
- Others
- Market Sizing Estimations and Forecasts – By Industry (US$ Mn)
- Retail
- BFSI
- Hospitality
- Entertainment & Gaming
- Airports & Hotels
- IT/ Telecommunication
- Others
- Market Analysis, Insights and Forecast – By Geography (US$ Mn)
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
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