Interactive Kiosk Market Reaping Revenues from Application in Government & BFSI

Posted by industryarc on August 7th, 2019

Enhancing customer experience by leveraging interactive products such as digital signage and interactive kiosks is a mega trend, particularly in the retail sector. Organizations are striving to provide enhanced user experience, and are investing in R&D, which is boosting the interactive kiosk market that is poised to attain a valuation of 305.77m by the end of 2023. According to a recently published market research report by IndustryARC, the demand will grow at a profitable CAGR of 11.3% during the period 2018-2023. The report by IndustryARC titled, “Interactive Kiosk Market: By Type (Touch screen kiosks, Internet kiosks, Photo kiosks, information kiosks, Production promotion kiosk, Self-service kiosk, vending kiosk, Wayfinding kiosks); By Applications ( Hospitals, Government and Corporate offices, Banks, retail and showrooms, theaters, and others); By end user industry(Entertainment and hospitality, Retail, Transportation and others); By Geography - Forecast(2018-2023)” provides a detailed observation into trends, opportunities and challenges in the market along with business strategies adopted by the key players.

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Interactive Kiosk Market: Geographical Analysis & Leading Segments
The Americas is found to be the most lucrative region with ,303m worth of revenue in the interactive kiosk market in 2017. According to the geographic analysis, Canada and the US are projected to lead the interactive kiosk market in the upcoming years. This can be attributed to the growing food & beverages sector which is adopting the technology of interactive kiosks in order to communicate better with customers.

The report also provides a peek into the prospects in each application segment. The government and Banking, Financial Services and Insurance (BFSI) sector comprise a major chunk of the customer-base for vendors in the interactive kiosk market. The application of interactive kiosks in the government and BFSI sector is poised to grow at a CAGR of 8.1% through to 2023. They are closely followed by the retail sector which is set to observe increased adoption of interactive kiosks.

Retail shops are striving to provide customers with the best quality service, and a communication platform such as an interactive kiosk certainly improves customer experience. The report foresees more retail shops incorporated with interactive kiosks.

Interactive Kiosk Market: Trends and Growth Drivers
·The Transportation Industry Supporting the Interactive Kiosk Market –Railway stations are nowadays offering travelers the facility to purchase their tickets themselves through kiosks. Interactive kiosks can also be observed at airports. These enable customers to print their boarding pass themselves, which saves time otherwise spent in long queues. The increasing deployment of self-service kiosks at airports, railway stations and bus terminals are leading to a definite growth in sales for the interactive kiosk market.

·The Healthcare Sector Creating Opportunities in the Interactive Kiosk Market –Nowadays, hospitals and pharmacies are using interactive kiosks in order to instill self-service facilities and streamline basic tasks such as patient registration and payments. This trend is making strides in North American countries such as Canada, the US, and Mexico that boast of an advanced healthcare infrastructure. The adoption of technology in developing countries is estimated to increase, which will enhance the scope for vendors in the interactive kiosk market.

·Hotel Industry Leveraging Interactive Kiosks –Nowadays, restaurants are incorporated with interactive kiosks using which customers can place their orders. This trend is set to witness a growth in the foreseeable future, wherein restaurants will have interactive kiosks which will display information such as menu cards. The application of interactive kiosks in the hospitality industry will create more opportunities in the interactive kiosks market.

Interactive Kiosk Market: Competitive Landscape
Some of the key market players studied in this report include NCR Corporation, Diebold Inc., Wincor Nixdorf, Nautilus Hyosung, Hitachi-Omron, and others.

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About IndustryARC: IndustryARC is a research and consulting firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food and Beverages, Information Technology, and Life sciences and Healthcare.