According to a new market report published by Industry Probe (www.industryprobe.com) titled ‘Interactive Kiosk Market (Product: Food Self-service Kiosk, Beverage Self-service Kiosks, Photo Kiosks, Ticketing Kiosks, Parking Kiosks, Patient Interactive Kiosks, Information Kiosks, Employment Kiosks, Check-in Kiosks, Automated Teller Machines Kiosks, and Others; Type: Floor Standing Kiosk, Wall Mounted Kiosk, and Others; and End-Use Industry: Retail, Hospitality, Banking & Financial Services, Healthcare, Transportation, Media & Entertainment, Government, and Others) – Global Industry Dynamics, 2018-19, Trends, and Forecast, 2020–2027’, the global interactive kiosk market was valued at US$ 28.65 Bn in 2018 and is expected to expand at a CAGR of 6.3% from 2019 to 2027.
As per the report, Asia Pacific held a major share of the global interactive kiosk market in 2018. Emerging technology is an important tool for businesses to reach their target audience; interactive kiosks enable the assessment of new products. Technological advancements and presence of a large number of market players in North America are factors contributing to the anticipated growth of the global market. Manufacturers in North America are increasingly investing in the development of new products to remain competitive in the global market. Interactive kiosks are used in various end-use industries. Retail and hospitality are prominent industries that use interactive kiosks in order to promote their products and brands.
The report gives an example of Uniqlo to highlight the growth of interactive kiosk market. In 2016, a Japan-based clothing retailing brand, Uniqlo, owned by the company, Fast Retailing, opened a store in New York, the U.S. In case of Uniqlo, initially the business grew; however, sales declined after some time, casting a doubt on the company’s plan to expand to other regions of the U.S. The Japan-based retailer installed 10 interactive retail kiosks in malls and airports across the U.S. in order to confront the challenge. The initial cost of installing interactive kiosks and ATMs is high. This factor is likely to restrain the global market. Cyber-attack threats are a significant challenge faced by interactive kiosks all over the world. In the U.S., an ex-contractor of an automotive company used an interactive kiosk in the visitor’s lobby to delete files and passwords of critical systems causing a shutdown of the distribution facility for seven hours and causing a damage of more than US$ 29,000.
Furthermore, the report states that the interactive kiosk market in Asia Pacific is expected to grow at a significant rate during the forecast period. This can be ascribed to rapid urbanization and shift in consumer preference for convenience. Contactless payment option allows customers a fast, convenient, and secure way to complete transactions. It helps merchants to improve in-store payment experience by reducing the time taken for the payment. In developed regions, such as North America and Europe (especially Western Europe), there is a decline in cash transactions. According to Federal Reserve, the U.S. cash transactions declined from 33.0% in 2015 to 30.0% in 2017. Debit and credit cards are a significant part of the transaction market. In 2017, debit and credit cards, cumulatively, accounted for 48.0% share of the U.S. transaction market. Significant opportunity for global interactive kiosks manufacturers lies in providing interactive kiosks for electric vehicle charging.
The global interactive kiosk market is dominated by several players that are focused on the development of new products to cater to changing consumer preferences
The report includes the below mentioned pointers of major players operating in the global interactive kiosk market:
• Competition Matrix
• Company Overview
• Market Share Analysis (2018)
• Product Innovation
• Business Strategies / Recent Developments
• Technological advancements
• Key mergers and acquisitions
• Expansion strategies
• Company Financials
Some of the prominent players featured in the global interactive kiosk market to give a better competitive analysis of the market include Advanced Kiosks, NCR Corporation, Advantech Co., Ltd., Olea Kiosks Inc., Diebold Nixdorf, RedyRef Interactive Kiosks, KIOSK Information Systems, SlabbKiosks, Meridian Kiosk and ZIVELO.

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Originally published on - https://industryinsights.tech/global-interactive-kiosk-market-to-expand-at-cagr-of-6-3/

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