Self-service Kiosk Market– Statistics And Analysis & Forecast To 2028Posted by Mrudula Anil Karmarkar on August 23rd, 2022 The global self-service kiosk market size is expected to reach USD 42.66 Billion by 2028, registering a CAGR of 6.5% during the forecast period, according to a new report by Grand View Research, Inc. Reduced waiting queues and time with improved customers’ shopping experiences and introduction of screen touch displays and glass technology are expected to drive the market during the forecast period. In developed countries such as U.S., Germany, France, U.K. China, the adoption of self-service kiosks is increasing. Moreover, citizens are also preferring contactless payment services such as debit cards, credit cards, or NFC-enabled devices. Thus, the market is expected to increase during the forecast period. The services segment is expected to grow with the highest CAGR of 8.2% from 2022 to 2028. Increasing the adoption of self-service kiosks at various places such as restaurants, retail stores, banks, hospitals, and banks will boost product sales. To ensure the seamless performance of kiosks, there is demand for services such as maintenance, up-gradation, integration, network, and security. Self-order segment is expected to grow with the highest CAGR of 12.4% from 2022 to 2028. Kiosks are used by restaurants, petrol pumps, retail stores, and many more to automate operations such as order production and delivery. This enabled customers to buy without waiting in the queue and with contactless and frictionless service. Due to seamless operations, self-order is getting popular among consumers contributing to the growth of the segment. The retail vertical is expected to register the fastest growth rate during the forecast years, with a CAGR of 12.0% from 2022 to 2028. Kiosks integrated with AR and VR technology improve the shopping experience of customers enabling them to try and buy behavior. Retailers are adopting advanced payment processing technology to enable contactless billing. The indoor segment is expected to register the fastest growth rate during the forecast years, with a CAGR of 7.7% from 2022 to 2028. Indoor locations such as colleges and hospitals are installing the kiosks for citizens to get information and complete the administration procedures. The Asia Pacific market is expected to witness the highest growth rate CAGR of 7.8% from 2022 to 2028. Rapid urbanization and industrialization in Asian countries such as China and India are contributing to the growth rate in this region. Increased adoption of civil services by citizens and the announcement of smart cities by governments will enhance the adoption of kiosks. Manufacturers are looking to maintain their brand image and gain customer loyalty by offering innovative designs of self-service kiosks as per customer specifications and analyzing consumer behavior patterns. To Request Sample Copy of this report, click the link: https://www.grandviewresearch.com/industry-analysis/self-service-kiosk-market-report/request/rs1 Rising adoption of self-service in the retail sector, increasing preference for contactless payment processing, and enhanced customer experience while shopping is the major contributors to the market growth. In the developed countries such as U.S., Germany, France, U.K., China, the popularity of self-service is increasing. Rising adoption of technology such as artificial intelligence, virtual reality, and augmented reality are improving the self-service kiosks which in turn will drive the market. Self-service Kiosk Market Report Highlights
Self-service kiosks are offered for various applications such as ticketing, banking services, check-ins, self-orders across industry verticals. Moreover, manufacturers are increasing brand awareness By Offering hardware, software, and hardware on the improving consumers’ experience. During the COVID-19 pandemic and lockdown situation, government restricted, or citizens prefer to stay at home and many enterprises started allowing employees to work from home as a precautionary measure. Though there was adoption of touchless self-service equipment. Additionally, market experienced shortfall in sales due to the disturbed supply chains, and reduced demand. With this shortfall in the market revenue, is expected to witness a healthy market growth rate in the upcoming years after releasing the COVID-19 restrictions. The self-service kiosk market is characterized by the presence of various well-established players and several small and medium players. In January 2020, McDonald started adopting self-order digital kiosks in the retail outlets. Digital kiosks enable ordering, payments, personalization, delivery, and loyalty with improved customer experience. Such initiatives are expected to boost the adoption rate of the product among consumers. The self-service kiosk manufacturers are aggressively following the organic as well as inorganic strategies to expand their footprints across the geography. Some of the prominent players in the global self-service kiosk market include:
Like it? Share it! More by this author |