The Global Kiosk Market, by Type (Vending Machine (Drink Vending Machine, Food Vending Machine, Photo Vending Machine, DVD Rental), Self-service Kiosk / Interactive Kiosk (Information Kiosk, Ticketing Kiosk, Patient Interactive Kiosk, Check-in Kiosk, Employment Kiosk, Bill Payment Kiosk), ATM, Locker Kiosk, Charging Kiosk Others (such as Web Payphone, Gaming)), by End-use Industry (Retailers, Transport (Airport/Railway/Bus) Operators, Banks, Advertisers, Petrol Stations, Commercial Complexes (Educational Institutes and Hospitals) and Government), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East and Africa) - Global Forecast to 2027”, is expected to be valued at US$ 130.8 Billion by 2027, exhibiting a CAGR of 5.9% during the forecast period (2019-2027), as highlighted in a report published by Coherent Market Insights.
An interactive kiosk is an advanced computer terminal that includes specialized software and hardware, which offers information and application for education, commerce, communication or entertainment. Kiosks are somewhat similar to telephone booths and are accepted in retail, hospitality, and foodservice industry to improve customer service. There are different types of kiosks employed including internet kiosks, photo kiosks, financial services kiosks, DVD vending kiosks, ticketing kiosks, telekiosk, video kiosks, information kiosk, restaurant kiosk, etc. Kiosks are employed at high foot traffic settings such as hotel lobbies, shops, and airports. For instance, kiosks allow users to check out a library book or issue a hotel key card or order a shop’s catalog when items are not in stock.
The global Kiosk Market was accounted for US$ 81.1 Billion in terms of value and 25,004 Units in terms of volume in 2019 and is expected to grow at CAGR of 5.9% for the period 2019-2027.
Constant improvement in sales is expected to boost the global kiosk market growth over the forecast period
Kiosks are typically used to increase sales and efficiencies of businesses. In the present economy, customers are cost-conscious and make purchasing decisions based on that. Kiosks provide the product information and enable the customer to find their items quickly and compare prices. Registry kiosks provide customers with a list of registered items. This gives the customers a chance to review the information of a specific product independently, without any human interference. Moreover, kiosks promote clarity, which means a customer is able to visualize the selected item or product on-screen; choose the product; and then verify the order. Apart from this, signage, promotion, demonstrations, kiosk placement, and availability of trained staff for help are other factors enhancing customer satisfaction and increase sales. For instance, RAB Lighting increased its sales by 40% by employing an iPad-turned-kiosk to sell its new product. Therefore, these factors are expected to propel the global kiosk market growth in the near future.
Introduction of cardless ATMs can provide excellent growth opportunities
Cardless ATMs have gained significant popularity in the recent past, especially in developed countries such as the U.S. and Canada. Smartphones have improved the speed of transactions and have also made them secure. Moreover, majority of banks in the U.S. are installing new ATMs or rescaling existing machines with advanced technology. In these systems, a client can order cash through a smartphone app. The customer needs to enter the code received into the machine to receive cash, without using the ATM card.
Significant cost required installation of kiosks is expected to restrain growth of the global kiosk market during the forecast period
Installation and authorization costs of kiosks are substantially high. Furthermore, it requires timely maintenance of software and hardware components to maintain smooth function. Since majority of a kiosk in operation today is touchscreen, the possibility of screens getting damaged leading to regular replacement is very high. There are screens with greater longevity available in the market though there are certain issues regarding clarity. Thus, these factors are expected to restrain growth of the global kiosk market in the near future.
Wayfinding kiosks are basically geo-fenced. A wayfinding kiosk has complete knowledge about its current location as well as locations in its vicinity. These kiosks provide information to people about their present location and help them reach other nearby destinations. There are different types of wayfinding kiosk including 2D, 2.5D, and 3D. These kiosks are employed in hospitals to a large extent in order to reduce the stress of patients or their relatives in terms of locating a particular place.
Solar kiosks are equipped with rooftop photovoltaic panels and have enough power to provide for solar lighting, mobile phones, car batteries, computers, and even solar refrigerators. Moreover, solar energy is extremely inexpensive. Hence, solar kiosks can offer clean energy that is economical and hence, affordable for low-income groups. Solar Kiosk Kenya Ltd. has started its operations in Kenya. It employs a business model that enables local entrepreneurs to sell solar products and provide solar-powered services to the community. The company is a commercial enterprise that stations solar-powered units in kiosks in remote and semi-urban areas in Kenya, thereby creating a three-fold impact, which is social, environmental, and economic.
Key players operating in the global kiosk market are ZIVELO, Acrelec, Wincor Nixdorf International, Diebold Nixdorf, Inc., Triton Systems of Delaware, FUJITSU, Slabb Inc., Glory Ltd, Q-Matic Corporation, GRGBanking, Phoenix Kiosk, IER, Olea Kiosk Inc., KIOSK Information Systems, NCR Corporation, Kontron AG, Nautilus Hyosung, and Meridian Kiosk.