Interactive Kiosk Market Size to Reach USD 47.04 Billion in 2030 | Emergen Research

VANCOUVER, B.C., Dec. 21, 2022 /PRNewswire/ -- The interactive kiosk market size reached USD 26.92 Billion in 2021 and is expected to register a CAGR of 6.3% during the forecast period, according to latest analysis by Emergen Research. There is a rising demand from various business enterprises for digital kiosks to boost the company's sales. Through the use of promotions, bundles, discounts, and other alluring offers, interactive kiosks are surprisingly powerful marketing tools that can assist in persuading customers to purchase particular items. Customers are motivated to spend more money than they had planned if there is active interaction with them, which can boost revenue for the company.

Kiosks with touch screens are workplace solutions that can be used continuously without the need for breaks, sick days, or vacations. They provide a dependable, high-quality user experience that can drastically cut down on the amount of time staff members spend answering routine queries, making information readily available, and facilitating transactions, freeing up more time for them to concentrate on enhancing business procedures and taking care of urgent duties.

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Drivers:

Interactive kiosks allow real-time communication updates which are expected to boost market revenue growth. By enabling real-time information updates, digital signage kiosk solutions for businesses help them better connect with their clients. For instance, they can quickly reach their intended audience by updating the display from the convenience of their office if they have a status update, modification to the building directory, or flash sale to promote. Furthermore, customers benefit immediately from the technology, whether they use an interactive kiosk to make a purchase or a building directory kiosk to obtain directions. Businesses enable their clients to get the satisfaction they need while also avoiding lineups and wait periods by installing self-service kiosks in their facilities. Modern consumers cherish their independence as well as their personal safety and security. Digital kiosks can make them feel safer when they make a purchase, as they allow customers to complete transactions alone. They are able to remain discrete while utilizing the company's products and services, which promotes a sense of confidence in a brand.

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Restraints:

High installation costs, ongoing maintenance requirements, and a chance that hardware and software will malfunction are hampering the market growth.  Interactive kiosk installation can be costly for SMEs, due to a variety of factors. Many small businesses are prohibited from investing in this technology by a lack of financial backing. Installing an interactive kiosk needs pricey hardware and software, especially if the kiosk has touchscreen capabilities. Business owners on a tight budget are unable to use this technology. As a result of the system's automation, maintenance expenses are high. Unavoidable hardware and software issues might lead to lost income if the kiosks break down in the middle of a busy period. There is a chance of losing repeat consumers since some customers won't have the patience to wait in line.

Growth Projections:

The interactive kiosk market is expected to register a CAGR of 6.3% over the forecast period and revenue is projected to increase from USD 26.92 Billion in 2021 to USD 47.04 Billion in 2030. Strong focus of retailers to provide an enhanced seamless customer experience to increase sales and achieve a quick Return On Investment (RoI) is driving revenue growth in the market.

Current Trends and Innovations:

By integrating computer vision, artificial intelligence, and analytics technology into interactive kiosks, businesses are able to create engaging touchless engagements with their customers which are expected to boost market growth. Touchless technology improves consumer experience by removing obstacles from the buying process and enabling self-service options for efficiency and ease. Rather than requiring physical touch on kiosk screens, transactions and communications can be conducted through interactions such as kiosks can recognize basic hand gestures like a directed palm swipe to peruse menu items or a customer giving a thumbs-up to complete a transaction while checking into a hotel or doing their banking when they are combined with computer vision, radar, and AI technology. Furthermore, when equipped with audio and speech technology, kiosks can use conversational AI—which combines elements of Natural Language Processing (NLP), Text-to-Speech (TTS), and Automatic Speech Recognition (ASR)—to recognize, comprehend, and react to vocal sounds, such as questions a customer could perhaps ask about a specific product. 

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Strategic Initiatives:

Major companies included in the market report 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.

• On 3 August 2021, TanTrack Kiosk was introduced by the software development company Nichesoft. Customers of a tanning salon can check in at the front desk using this technology, which is add-on hardware to the 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 oneself to be tanned. Where 24-hour tanning is available, this function is extremely helpful. The method also enables the salon to provide their clientele more immediate service without adding more personnel.

Scope of Research

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For the purpose of this report, Emergen Research has segmented global interactive kiosk market on the basis of type, location, panel size, and region:

• Offering Outlook (Revenue, USD Million; 2019–2030)
• Hardware
• Software & Services
• Type Outlook (Revenue, USD Million; 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 (Others in self-service kiosks include Security kiosk, DVD kiosk, Postal Kiosk, Kiosk lockers and Way finding kiosk)
• Location Outlook (Revenue, USD Million; 2019–2030)
• Indoor
• Outdoor
• Panel Size Outlook (Revenue, USD Million; 2019–2030)
• 17" – 32"
• Above 32"

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