Global Kiosk Market - Segmented by (Banking, Vending Kiosks, Ticketing), End-User Vertical (Healthcare, Retail, Banking and Financial Services) and Region - Growth, Trends, and Forecast (2022 - 2030)
The global kiosk market is expected to register a CAGR of 10.2% over the forecast period of 2018–2023. The scope of the market is limited to the hardware products offered by the vendors in the market.
Kiosk systems are increasingly being employed across many industries to streamline processes and provide better operational flexibility. Major players across various industries are increasingly investing in kiosks, as technological advancements and the integration of more advanced software is allowing for a more interactive and intuitive experience for consumers, which is set to boost the adoption of kiosks across the globe. However, increasing security concerns could hinder the growth of the market. Instances like the recent ransomware attack, WannaCry, has made consumers wary of vulnerabilities in the existing infrastructure. This coupled with the high initial investment required, and maintenance costs of kiosks could challenge the growth of the market.
Vending Kiosks to Hold a Significant Share
While traditional vending machines represent a mature industry with sluggish growth rate, the high-tech kiosks are expected to have a prosperous forecast period. Owing to the flexibility and space constraints, vending kiosks provide competition to the existing small and medium scale convenience stores and stands selling food and beverage. Food and drinks contribute to the major share of the vending machines, followed by DVD rentals, which require the presence of manual labor in the kiosk to interact with the consumer. The growth of the DVD rentals has slowed down significantly, due to the emergence of online streaming services. The increase in product offerings in vending machines and a rise in the number of beverage manufacturers selling their products through exclusive smart vending machines are crucial for the growth of intelligent vending machine market. Large beverage manufacturers such as Coca-Cola and PepsiCo use their smart vending machines to sell their exclusive product lines. Rising consumption of cold beverages trend is expected to aid the market growth.
Growing Tourism to Drive the Market for Kiosks in China
The tourism industry in China has experienced unprecedented growth in the past few years. Reform in China and open policy, supported by increasing economic growth of the country has boosted the tourism industry. China is the fourth most visited country in the world with an estimated 60 million tourists visiting it in 2016. This number has grown significantly compared to 2015 with over a 4.2% rise. Tourism industry generated more than CNY 3.420 billion in 2015. Tourists visiting this country are increasingly looking for technological solutions that help them buy products and services. This is providing a huge demand for kiosks in this country. Many retailers and other service providers in places with high concentration of tourists are increasingly employing kiosk systems, which eliminate the communication barrier and provide easy services for the tourists. Tourists visiting the country are also preferring these systems as they offer familiar operations and are easy to use. China is expected to become the country with the largest tourism industry by 2020, thus providing a huge opportunity to explore and grow rapidly in this region.
Key Developments in the Market
• March 2018: Korean crypto exchange Bithumb, South Korea’s largest cryptocurrency is entering the retail kiosk business to accelerate crypto adoption in the country. These order-taking and payment facilitating kiosks will be placed in restaurants and cafes for customers to browse menus, place orders, and pay for food.
• March 2018: Walmart is increasing the number of store locations with a CarSaver car-selling kiosk. CarSaver will also help customers sell their cars by offering cash from a network of dealers who place bids. The retailer has also announced plans to increase the number of self-serving kiosks across its retail stores.
The major players include -SAMSUNG ELECTRONICS, NCR CORPORATION, NEXCOM INTERNATIONAL CO., LTD, KIOSK INFORMATION SYSTEMS, SHENZHEN LEAN KIOSK SYSTEM CO.LTD, SZZT ELECTRONICS CO., LTD, KINGLEADER TECHNOLOGY COMPANY, GUANGZHOU LIQI INTELLIGENT TECHNOLOGY CO., SHENZHEN HUNGHUI IT CO., LTD, IER SAS, and SLABB, INC., amongst others.
Reasons to Purchase the Report
• The growing number of ATMs in Asia-Pacific has been identified as a major driver in the global market scenario.
• The report analyzes the various perspectives of the market with the help of Porter’s Five Forces Analysis.
• The type and end-user that is expected to dominate the market.
• The regions are expected to witness the fastest growth during the forecast period.
• Identify the latest developments, market shares, and strategies employed by the major market players.
• 3-month analyst support along with the Market Estimate sheet (in Excel).
Customization of the Report
• This report can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.
Kiosk systems are increasingly being employed across many industries to streamline processes and provide better operational flexibility. Major players across various industries are increasingly investing in kiosks, as technological advancements and the integration of more advanced software is allowing for a more interactive and intuitive experience for consumers, which is set to boost the adoption of kiosks across the globe. However, increasing security concerns could hinder the growth of the market. Instances like the recent ransomware attack, WannaCry, has made consumers wary of vulnerabilities in the existing infrastructure. This coupled with the high initial investment required, and maintenance costs of kiosks could challenge the growth of the market.
Vending Kiosks to Hold a Significant Share
While traditional vending machines represent a mature industry with sluggish growth rate, the high-tech kiosks are expected to have a prosperous forecast period. Owing to the flexibility and space constraints, vending kiosks provide competition to the existing small and medium scale convenience stores and stands selling food and beverage. Food and drinks contribute to the major share of the vending machines, followed by DVD rentals, which require the presence of manual labor in the kiosk to interact with the consumer. The growth of the DVD rentals has slowed down significantly, due to the emergence of online streaming services. The increase in product offerings in vending machines and a rise in the number of beverage manufacturers selling their products through exclusive smart vending machines are crucial for the growth of intelligent vending machine market. Large beverage manufacturers such as Coca-Cola and PepsiCo use their smart vending machines to sell their exclusive product lines. Rising consumption of cold beverages trend is expected to aid the market growth.
Growing Tourism to Drive the Market for Kiosks in China
The tourism industry in China has experienced unprecedented growth in the past few years. Reform in China and open policy, supported by increasing economic growth of the country has boosted the tourism industry. China is the fourth most visited country in the world with an estimated 60 million tourists visiting it in 2016. This number has grown significantly compared to 2015 with over a 4.2% rise. Tourism industry generated more than CNY 3.420 billion in 2015. Tourists visiting this country are increasingly looking for technological solutions that help them buy products and services. This is providing a huge demand for kiosks in this country. Many retailers and other service providers in places with high concentration of tourists are increasingly employing kiosk systems, which eliminate the communication barrier and provide easy services for the tourists. Tourists visiting the country are also preferring these systems as they offer familiar operations and are easy to use. China is expected to become the country with the largest tourism industry by 2020, thus providing a huge opportunity to explore and grow rapidly in this region.
Key Developments in the Market
• March 2018: Korean crypto exchange Bithumb, South Korea’s largest cryptocurrency is entering the retail kiosk business to accelerate crypto adoption in the country. These order-taking and payment facilitating kiosks will be placed in restaurants and cafes for customers to browse menus, place orders, and pay for food.
• March 2018: Walmart is increasing the number of store locations with a CarSaver car-selling kiosk. CarSaver will also help customers sell their cars by offering cash from a network of dealers who place bids. The retailer has also announced plans to increase the number of self-serving kiosks across its retail stores.
The major players include -SAMSUNG ELECTRONICS, NCR CORPORATION, NEXCOM INTERNATIONAL CO., LTD, KIOSK INFORMATION SYSTEMS, SHENZHEN LEAN KIOSK SYSTEM CO.LTD, SZZT ELECTRONICS CO., LTD, KINGLEADER TECHNOLOGY COMPANY, GUANGZHOU LIQI INTELLIGENT TECHNOLOGY CO., SHENZHEN HUNGHUI IT CO., LTD, IER SAS, and SLABB, INC., amongst others.
Reasons to Purchase the Report
• The growing number of ATMs in Asia-Pacific has been identified as a major driver in the global market scenario.
• The report analyzes the various perspectives of the market with the help of Porter’s Five Forces Analysis.
• The type and end-user that is expected to dominate the market.
• The regions are expected to witness the fastest growth during the forecast period.
• Identify the latest developments, market shares, and strategies employed by the major market players.
• 3-month analyst support along with the Market Estimate sheet (in Excel).
Customization of the Report
• This report can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.
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