PUBLISHER: Arizton Advisory & Intelligence | PRODUCT CODE: 1359170
PUBLISHER: Arizton Advisory & Intelligence | PRODUCT CODE: 1359170
The global self-service kiosk market is expected to grow at a CAGR of 8.71% from 2022-2028.
MARKET TRENDS & OPPORTUNITIES
Rising Consumer Preference for Contactless Payment Processing
The rising consumer preference for contactless payment processing is a significant trend in the self-service kiosk market. This trend has gained momentum recently, driven by various factors influencing consumer behavior and expectations. Contactless payment methods, such as near-field communication (NFC) or mobile wallets, offer customers a faster and more convenient way to complete transactions.
User-Friendly Service for Consumers
A user-friendly service ensures a positive experience for consumers interacting with self-service kiosks. By prioritizing a user-friendly service, businesses can enhance the self-service experience, encourage adoption, and build positive consumer relationships. Continuously gathering feedback, conducting usability tests, and incorporating user insights can help identify areas for improvement and ensure a seamless and enjoyable self-service experience. Some common insights for maintaining user-friendly services include convenience, control & autonomy, intuitive interface, visual and audio feedback, error prevention & handling, and multilingual & accessibility support. Therefore, major vendors in the self-service kiosk market are mainly inclined towards modifications in their products by offering user-friendly solutions or services to consumers.
INDUSTRY RESTRAINTS
Lack of Technological Advancement in Low- And Middle-Income Countries
The penetration of self-service kiosk products remains low in low-& middle-income countries as compared to the developed nations. The low awareness about applications of kiosks in developing markets, the high cost of technological advancements or technical machinery, and the lack of awareness about self-service are major growth inhibitors for the self-service kiosk market. Furthermore, end-users in many countries, such as APAC, Middle East & Africa, perceive self-service kiosk products as luxurious. Thus, their penetration among different industries for indoor or outdoor purposes remains low in these regions.
SEGMENTATION INSIGHTS
INSIGHTS BY PRODUCT
The high demand for hardware kiosks characterizes the global self-service kiosk market. The hardware segment is expected to witness the highest growth during the forecast period as hardware self-service kiosks are equipped with physical components and peripherals that allow users to interact with the system. Apart from hardware self-service kiosks, the demand for software & systems is also anticipated to grow significantly between 2023 and 2028. The high adoption of artificial intelligence augmented, and virtual reality is expected to boost the demand for self-service kiosks.
Segmentation by Product
INSIGHT BY AREA
The global self-service kiosk market by area segments as area indoor and outdoor. In 2022, the indoor segment dominated the global industry. The significantly increased adoption of kiosks in various industries and emerging self-service technologies are expected to boost the market demand for indoor self-service kiosks. Indoor self-service kiosks provide customers with a seamless and convenient way to access products, services, and information. Furthermore, outdoor self-service kiosks help businesses comply with accessibility regulations and provide information in multiple languages, accommodating diverse customer needs. Placing outdoor kiosks in busy locations, such as transportation hubs, tourist attractions, and shopping centers, helps manage high foot traffic efficiently, reducing congestion and long queues.
Segmentation by Area
INSIGHT BY END USER
The food & beverage end-user segment dominated the global self-service kiosk market and accounted for a revenue share of more than 28% in 2022. The rise in the adoption of quick-service restaurants and the high demand for customized products among consumers across various regions have propelled the segment's growth. Factors such as the rise in urbanization and the surge in per capita income have propelled the demand for smart infrastructure projects worldwide. All these factors have also accelerated the demand for self-service kiosks in the market.
Segmentation by End-User
GEOGRAPHICAL ANALYSIS
The global self-service kiosk market is mainly driven by the high adoption of self-service in the retail and food & beverage sector and user-friendly customer service. Among the regions, North America dominated the global industry with a share of over 40% in 2022. The self-service kiosk market in North America has been growing steadily, driven by the increasing demand for automated and contactless solutions across industries. Businesses are adopting self-service kiosks to improve efficiency, enhance customer experience, and reduce operational costs. Further, strong economic growth, the establishment of new businesses, company expansions, and increased industrial activities are mainly driving the demand for self-service kiosks in the North American region.
Segmentation by Geography
COMPETITIVE LANDSCAPE
The global self-service kiosk market is fragmented, with local and international players competing. Some of the leading vendors in the global self-service kiosk market include Kiosk Group, KIOSK Information Systems, Dynatouch Corporation, REDYRE, Advanced Kiosks, Meridian Kiosks, Diebold Nixdorf, Wavetec, and others. The fierce competition among these players is driven by the rapidly changing technological landscape, where customers demand continuous innovations and upgrades in self-service technologies. Vendors must refine their unique value propositions to establish a strong industry presence.
Key Company Profiles
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