Global Interactive Kiosk Market Size to Reach USD 53.15 Billion in 2032 | Emergen Research

Strong focus of retailers to provide enhanced shopping experience for customers to increase sales and achieve quick return on investment is a major factor driving interactive kiosk market revenue growth

Vancouver, Sept. 22, 2023 (GLOBE NEWSWIRE) — The global interactive kiosk market size was USD 26.92 Billion in 2021 and is expected to register a revenue CAGR of 6.3% during the forecast period, according to latest analysis by Emergen Research. Increasing number of smart cities and smart infrastructure is a major factor driving market revenue growth.

Smart cities aim to improve municipal management and optimize resource utilization with the aid of integrated urban communication and information technologies. These cities are concentrating on building infrastructure to become smarter. One notable aspect of smart cities, which are becoming more prevalent in metropolitan areas, is an interactive kiosk. These kiosks are employed for online shopping, weather details, sharing community information, and interactive advertisement. Visitors and locals can interact with their surroundings in a smooth, digital environment owing to smart city kiosks. Interactive kiosks in smart cities are utilized for a number of purposes such as directions, transportation details, and sharing local area information.

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However, high installation costs and constant need for regular maintenance, coupled with risk of hardware and software failure are restraining market growth. Interactive kiosks can be expensive to put up initially for SMEs owing to multiple reasons, hence lack of financial support prevents many small enterprises from investing in this technology. In addition, interactive kiosk’s installation requires both expensive hardware and software, particularly if the kiosk has a touchscreen function, therefore, budget-conscious business owners are unable to engage in this kind of technology. The system is automated; therefore, maintenance costs is significant.

 Moreover, unavoidable hardware and software malfunctions might result in lost revenue if kiosks fall down during rush hours. There is a chance of losing consumers since some customers won’t have the patience to wait in line. Furthermore, lack of human interaction can also restrain market growth. Customers frequently ask for advice or look for information about a certain menu item before placing an order. Lack of a human aspect in kiosks makes it challenging for clients to choose what to eat or what to purchase.

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Scope of Research

MAJOR COMPANIES and Competitive Landscape

The global interactive kiosk market is consolidated, with few large, small, and medium-sized players accounting for the majority revenue share. Established companies are engaged in various research and development activities and initiatives to develop and deploy new and more efficient products in the interactive kiosk market. Some prominent players operating in the market are:

• NCR Corporation
• Diebold Nixdorf, Incorporated.
• Glory Global Solutions (International) Limited
• KIOSK Information Systems
• Olea Kiosks Inc.
• Frank Mayer and Associates, Inc.
• Source Technologies
• Embross
• Meridian Kiosks
• Lilitab, LLC.

Strategic Development

On 13 May 2019, Xiaomi launched MI Express Kiosk in India. Xiaomi is the first technology company in India to sell smartphones through vending machines with the launch of Mi Express Kiosk. It enables customers to buy Xiaomi smartphones and mobile accessories straight from manufacturer. Customers only need to make a payment at Mi Express Kiosk to acquire Xiaomi items.

On 3 August 2021, Nichesoft introduced TanTrack Kiosk. Using this technology, customers of a tanning salon can check in at the front desk, which is add-on hardware to TanTrack platform, without interacting with any employees. Customers have the option to make purchases, update personal information, schedule appointments, and, in places that allow it, send themselves to be tanned. Where 24-hour tanning is available, this function is extremely helpful. This method also enables the salon to provide their clientele with more immediate service without adding more personnel.

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Some Key Highlights From the Report

• The software segment accounted for a moderate revenue share in 2021. Interactive kiosk software gathers relevant data to assist companies in optimizing operations and increasing sales. Based on their unique interests and past purchases, clients can shop for and buy items via guided selling. Customers can locate ideal items for them with the assistance of software, which also helps to customize shopping experience. For instance, if a consumer is utilizing a guided selling kiosk to purchase a car, they might well be asked questions regarding automobile’s performance, cargo capacity, fuel efficiency, price, or luxury. Customers will receive recommendations and a QR code, which will allow them to download product details to their mobile devices. Customers can also make payments at the kiosk owing to this software, which is driving revenue growth of this segment.
• The self-services kiosks segment accounted for largest revenue share in 2021. A self-service kiosk is a kind of technology that often features a touchscreen display that enables customers to make purchases independently of a salesperson. Self-checkout kiosks have the benefit of letting customers make purchases on their own time without having to wait for a staff member to be available. According to research, self-service options are preferred by 66% of customers over engaging with store workers. As it keeps these clients calm and satisfied while they shop, making self-service technology available to those customers is expected to drive revenue growth of this segment.
• The indoor segment accounted for largest revenue share in 2021. Self-check-in kiosks and product dispensers are just two examples of numerous different uses for indoor kiosks. The National Health Service (NHS) witnessed increase in demand for kiosks owing to their numerous benefits, including allowing patients to pay for urgently needed medication outside of regular business hours, saving NHS thousands of dollars annually and assisting NHS in recovering significant amounts of lost revenue. If a company lacks necessary space, indoor solutions could be a practical substitute for bigger outside units. In addition, for situations with limited floor and wall space, desktop kiosks are ideal. They are also appropriate as portable choices for areas that require flexibility, which is driving revenue growth of this segment.
• The Asia Pacific market accounted for a moderate revenue share in 2021. Rising activities by major players and federal organizations in this region is expected to drive market growth. On April 4, 2022, In collaboration with Etikoppaka Lacquer and Wooden Toys Manufactures Mutually Aided Co-operative Society Limited, the Waltair Division of East Coast Railway launched ‘One Station One Product’ kiosk shop at Visakhapatnam railway station in Andhra Pradesh (India). The East Coast Railway’s Visakhapatnam station is the first to use “One Station, One Product” idea, which was introduced by federal government in the budget. Its main goal is to turn every railway station into a marketing hub and destination for a local product, which would significantly enhance regional economies.

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Emergen Research has segmented the global interactive kiosk market based on offering, type, location, panel size, and region: 

• Offering Outlook (Revenue, USD Billion; 2019–2030)
  • Hardware
  • Software & Services

• Type Outlook (Revenue, USD Billion; 2019–2030)
  • Bank Kiosks
  • Self-services Kiosks
  • Information Kiosks
  • Ticketing Kiosks
  • Photo Kiosks
  • Patient Interactive Kiosk
  • Check-in Kiosk
  • Employment Kiosk
  • Casino Kiosk
  • Vending Kiosks
  • Food & Beverage Vending Kiosk
  • Others

• Location Outlook (Revenue, USD Billion; 2019–2030)
  • Indoor
  • Outdoor

• Panel Size Outlook (Revenue, USD Billion; 2019–2030)
  • 17” – 32”
  • Above 32”

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