Chicago, May 31, 2022 (GLOBE NEWSWIRE) -- According to the report by MarketsandMarkets™,the "Interactive Kiosk Market with COVID-19 Impact by Offering (Hardware and Software & Services), Type (Bank Kiosks, Self-service Kiosks and Vending Kiosks), Location (Indoor and Outdoor), Panel Size, Vertical and Region - Global Forecast to 2027", is projected to grow from USD 28.8 billion in 2022 and is projected to reach USD 39.1 billion by 2027; it is expected to grow at a CAGR of 6.3 % from 2022 to 2027. The growth of this market is driven by factors such as enhanced shopping experience for customers, rising demand for self-service in banking & financial services, lower investment costs than traditional outlets, enhanced applications other than conventional ones, and innovations in touch screen display and glass technology.
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Key strategies adopted by the players in the interactive kiosk ecosystem to enhance their product portfolios, increase their market share and expand their presence in the market mainly include new product launches and partnerships and acquisitions.
For instance, in October 2021, CERTIFY Health partnered with Olea Kiosks. Inc. (US). CERTIFY Health provides healthcare organizations with modernized solutions to optimize patient care and experience, from onboarding to check-in and payments. This includes CERTIFY Care, an omnichannel digital platform that streamlines patient workflows. The CERTIFY Care platform can be integrated into the Olea self-service kiosk for a frictionless and secure in-person experience.
In February 2022, Frank Mayer and Associates, Inc., (US) announced the addition of the Gateway kiosk to its line of standard self-service kiosks. The new unit provides a bill payment option for companies looking to offer automated cash payment and recycling.
KIOSK Information Systems has been dedicatedly serving the self-service kiosks market for more than 20 years. The company provides customized design solutions for the retail industry, HR operations, banking sector, vending machines, smart locker, and border security solutions. The company comprises of an extensive portfolio of self-service kiosks for diversified applications. The company focuses on collaborations and partnerships to expand its presence globally. For instance, it partnered with Valyant AI, a Colorado-based artificial intelligence (AI) company focused on customer service in the quick-serve restaurant (QSR) industry, to create contactless experiences driven by conversational AI across environments in which kiosks are deployed. In January 2020, the company established new manufacturing facilities in Germany to strengthen its foothold in the European market.
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Top Key Players in Interactive Kiosk Market:
- KIOSK Information Systems (US),
- Olea Kiosks Inc. (US),
- Frank Mayer and Associates, Inc. (US),
- Source Technologies (US),
- NCR Corporation (US), GLORY LIMITED (Japan),
- Diebold Nixdorf (US), Embross (Canada),
- Meridian Kiosks (US),
- REDYREF Interactive Kiosks (US), lilitab, LLC (US).
Olea Kiosks, Inc produces a wide variety of kiosks, including standard kiosks, custom kiosks, and specialty kiosks. The company has deployed more than 10,000 kiosks for more than 15 industries, such as entertainment, healthcare, ticketing and payments, retail, hospitality, and wayfinding. To grow in the interactive kiosk market, the company has majorly focused on partnerships and collaborations over the past three years from 2018-2021. For example, in October 2021, the company partnered with CERTIFY Health. As a virtue of this partnership, CERTIFY Care platform can be integrated into the Olea self-service kiosk for a frictionless and secure in-person experience for healthcare applications. The company is launching height-adjustable base for the Austin series kiosk. The Austin Height Adjustable (HA) will help to increase the product offering to its customers and thereby increase its market share in the interactive kiosk market. In October 2019, the company developed the Franklin Bill Pay kiosk as a new addition to its self-service line-up. This secure and versatile kiosk is built to handle payments of any kind at any place.
“Self-service kiosks to a significant share of the interactive kiosk market during the forecast period”
Self-service kiosks are being deployed widely in different verticals such as retail, healthcare, banking & financial services, government for automating various tasks. Fast food or Quick service restaurants (QSR) utilize self-service information kiosks to advertise trending products as well as allow an individual to place an order on their own so that it is ready for them by the time, they finish queuing from the line. Government services such as the DMV or Post Office employ self-service kiosks to help with scheduling needs and for tracking packages. In the retail segment, self-service kiosks enable customers to easily shop additional products, sizes, and options even if they are not available in-store. Self-service kiosks ease the process for shoppers to find product pricing, availability, and feature comparison information. The automated self-service kiosks in the healthcare industry help in mechanized check-ins and registration, patient status, online filling of forms and questionnaires, insurance confirmation, systematize patient queuing, payment of bills and report of outstanding payments.
“Healthcare vertical segment to hold a significant share of the interactive kiosk market during the forecast period”
In the wake of the global COVID-19 pandemic, interactive kiosks are playing a major role in the healthcare sector in containing the virus transmission. Self-service check-in interactive kiosks have become relatively common in clinics and hospitals to increase patient privacy and speed up check-in procedures. These self-service kiosks can also help to limit person-to-person interaction, in turn, reducing the risk of transmission of disease or virus between staff and patients. Because most person-to-person interactions occur within close proximity, and often entail talking, the passing back and forth of credit cards, or some other form of payment, and a receipt, it escalates the chances of exposure to the COVID-19 virus. The preference is for patients or guests to interact with a Kiosk rather than with staff at the reception desk.
“Interactive kiosk market in Asia Pacific estimated to grow at the fastest rate during the forecast period”
Asia Pacific region is expected to witness the highest growth during the forecast period. The growing popularity of kiosk products, large potential customer base, and technological advancements taking place in countries such as India and China are the factors contributing to the growth of the interactive kiosk market in Asia Pacific. The growing urbanization in the Asia Pacific region is boosting the construction of modern infrastructure. Further, the changing lifestyle of youths is leading to the development of malls, multiplexes, theatres, & entertainment infrastructure aiding the growth of the interactive kiosk market in the region. The increasing awareness of technology has led to the demand for such self-service technology in the varied sectors like entertainment sector, banking and financial sector, hospitality sector, healthcare sector and more.
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