The "Kiosk Market - Growth, Trends, and Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The Kiosk Market is expected to reach a CAGR of 13% over the forecast period 2020 - 2025.
Kiosks are being designed in such a way that information is transferred to the user (consumer) at the fastest rate. Kiosks have become a vital part of various organizations, businesses, and locations where necessary information and guidance is required. Moreover, the growing need for self-service in multiple applications for better customer satisfaction, and self-control and customer's privacy helps in fueling the demand for the kiosks across emerging economies.
Moreover, in the retail front, these kiosks are increasingly being used to tap into the database of stores to instantly learn about the product features and prices, thereby reducing the need for a salesperson. Shoppers can find out whether the item they want to buy is in stock and, if not, can they order it for delivery afterward. Mall operators are also employing kiosks to help shoppers pinpoint store locations, as well as categorization of products for simplifying the hassle to search for stores, such as apparel or jewelry.
Further, the growing inclination towards the adoption of ATMs in banking sectors and other industries are also driving the growth of this market. With an increasing population and growing adoption of banking services among the people, the demand for ATMs is increasing at a significant pace. Considerable investments in this sector primarily to provide reliable ATMs and kiosk systems are helping the growth of this market. Moreover, kiosk systems are presumed to be mainly influencing the consumer perspective by delivering accessible and better customer service and innovative service deployment, kiosk systems, especially in retail sectors and other emerging industries, thereby driving the growth of the systems across emerging economies.
Further, under the COVID-19 pandemic, in April 2020, Defense Research and Development Laboratory (DRDL) Hyderabad added another product portfolio of Defence Research and Development Organization (DRDO) to battle COVID-19 by developing COVID Sample Collection Kiosk (COVSACK). The unit has been developed in consultation with the doctors of Employees' State Insurance Corporation (ESIC), Hyderabad. Healthcare workers use this kiosk for taking COVID-19 samples from the suspected infected patients. The patient under test walks into kiosk, where healthcare professionals take a nasal or oral swab from outside through the built -in gloves.
Key Market Trends
Hospitality is Expected to Witness Significant Market Growth
Restaurants across the globe that are operating through counter service are adopting the use of kiosk systems for line busting by allowing their customers to place their orders through kiosks rather than waiting in line at the counter. Additionally. As shorter lines lead to faster service, which can result in happier, as well as more loyal customers, due to which, fast-casual restaurants are also using self-service kiosks. Further, the increasing penetration of street food in Japan is catering to the demand for kiosks.
Japan, one of the densely populated countries with 127 million people, is one of the prominent markets in the vending machine having 5.52 million vending machines installed. The lack of crime rate, rising cost of labor, and adoption toward automation have boosted the market of the vending machine in Japan.
Moreover, the increasing penetration of quick-service restaurants, especially in the growing economies, is anticipated to be one of the major drivers for market growth over the forecast period. According to the International Franchise Association, the number of quick-service restaurants franchise establishments in the United States reached 194,723 in 2018 as compared to 190,649 in 2017, thereby fueling the market growth.
For instance, in August 2018, McDonald's Corporation announced that it is spending USD 6 billion to revamp more than 6,000 stores throughout the United States, with the introduction of 2,500 interactive kiosks under its 'experience of the future' strategy restaurants. Recently MacDonald's has also created a team to increase digital customer engagement of customers looking at the rapid involvement of technology in the food industry. The efforts are towards digital ordering, personalization, payments, loyalty, and payments. All such developments by leading players in the industry are expected to provide opportunities to kiosk vendors across the globe.
The kiosk market is highly fragmented due to the included players across the value chain of the kiosk market include hardware, software, and solution vendors. To minimize overhead expenses and improve economies of scale, the solution providers have begun manufacturing hardware. Moreover, the market is highly competitive and technology-driven. The market comprises a large number of small players accounting for little market share individually.
In June 2020, Samsung Electronics America, Inc. announced a wide range of commercial display solutions to get companies back to business. Along with partner Palmer Digital Group, a division of the Industrial Enclosure Corporation, the company is introducing a Temperature Screening Kiosk to seamlessly screen and track temperatures before entering an establishment.
In November 2019, NCR Corporation announced that it acquired POS Solutions, a point-of-sale and restaurant solutions provider in central Texas. This was the fourth local office acquisition by the company in the Lone Star State. This acquisition further expands the reach of NCR's restaurant technology.
Key Topics Covered:
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET INSIGHT
4.1 Market Overview (Covers overall Impact of COVID 19 on the Market)
4.2 Industry Value Chain Analysis
4.3 Industry Attractiveness - Porter's Five Forces Analysis
5 MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Growing Number of ATMs & Kiosk across Asia Pacific
5.2 Market Restraints
5.2.1 High Cost Associated with Installation and Maintenance of the Systems
6 MARKET SEGMENTATION
6.1 By Type
6.1.1 Bank Kiosks
6.1.2 Vending Kiosks
6.1.3 Ticketing Kiosks
6.1.4 Patient Interactive Kiosks
6.1.5 Casino kiosks
6.1.6 Information Kiosks
6.1.7 Other Types
6.2 By End-user Industry
6.2.1 Banking & Financial Services
6.2.6 Other Enduser Industries
7 COMPETITIVE LANDSCAPE - KEY VENDOR PROFILE
7.1 Samsung Electronics
7.2 NCR Corporation
7.3 IER SAS
7.4 KIOSK Information Systems
7.5 Nexcom International Co. Ltd
7.6 Slabb Inc.
7.7 Shenzhen Hunghui IT Co. Ltd
7.8 SZZT Electronics Co. Ltd
7.9 Guangzhou LiQi Intelligent Technology Co.
8 INVESTMENT ANALYSIS
9 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/4a5idy
View source version on businesswire.com: https://www.businesswire.com/news/home/20201023005162/en/
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