According to market research and competitive intelligence provider Fact.MR: The Kiosk market grew at an impressive growth rate from 2015 to 2021. High demand for kiosk is due to surge in need for convenience in business operations across key end use industries such as hospitality, travel and food and beverage, retail among others.
Kiosks have gain traction in the past two years due to the outbreak of the Covid-19 pandemic. Increased emphasis on contactless delivery of services and products, several industries began utilizing kiosks with user-friendly interfaces, allowing independent purchases of various goods.
Suge in improvement in connectivity technologies is expected to transform the global landscape by incorporating various advancements. This includes ML, AI, IoT and Wi-Fi connectivity. From resolving bill payments to guiding passengers on public transport systems, use of different types of kiosks in only poised to accelerate in the future. From 2022 to 2032, Fact.MR expects the market to flourish 2.5x. The retail sector is expected to dominate and emerge as the primary end user of kiosks in the long run.
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High adoption of kiosks in Quick Service Restaurants is driving the growth of the market
Consumers prefer online shopping over visits to conventional brick and mortar stores. Due to highly busy lifestyles, consumers and end users seek out shopping experiences, which are efficient. Moreover, Kiosk vendors are including technological advancements, advanced connectivity and smart shopping experiences.
Although the COVID-19 pandemic is behind us, consumers globally are still apprehensive about resuming direct contact with people. With a major part of the global population taking voluntary measures to limit physical contact, the food & beverage industry has been experiencing an explosion of quick service restaurants (QSRs). Moreover, patrons are also seeking for arrangements wherein they continue enjoying meals in outdoor settings while simultaneously avoiding direct contact.
Moreover, outlets are investing in kiosk, which permit users to select meals of their choice in hassle-free manner. Recent studies have shown that 65% of QSR customers would visit restaurants more frequently if they could order using self-service kiosks. And 30% said they would rather order from a kiosk than a cashier, given that the lines were about the same wait. Deployment of kiosks across QSRs have prompted consumers to expend 15-30% more money, with more individuals likely to purchase add-ons, including dessert or French fries, instead of when they are face-to-face with a cashier.
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Kiosk market system for retailer market to remain dominant
Various countries are putting in efforts to improve retail capabilities by installing various advanced systems. AI enabled kiosks are gaining traction in retail sector. Moreover, many organizations are collaborating to offer the retail industry with targeted marketing.
In-store product information and promotional displays have become a crucial source of customer attraction. Moreover, self-directed bill payment and digital signage is the most common key applications of Kiosk that helps to reduce the overhead cost of retailers. Besides this, retailers can also install self-service kiosks in additional locations, help business bring in better profits.
Key manufacturers in the market are putting emphasis on technological innovations to offer precise system and accurate systems to their customers. Moreover, due to surge in adoption of Artificial Intelligence, companies are collaborating with government entities to enhance their presence across major geographies.
- In April 2021 Fujitsu Front Tech North America Inc. a retail technology provider had announced the launch of its U-Scan Elite kiosk machine. This machine works on automated solution and provide cash and coins with enhance speed.
Key Players of Kiosk
- KIOSK Information Systems Inc.
- NCR Corp.
- International Business Machines Corporation (IBM) Corp.
- Wincor Nixdorf Ag
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Key Segments Covered in the Kiosk Market Study
- Kiosk Market by Type :
- Vending Kiosks
- Drink Vending Kiosks
- Food Vending Kiosks
- Photo Printing Kiosks
- DVD Rental Kiosks
- Self –Service Kiosks
- Information Kiosks
- Ticketing Kiosks
- Patient Interactive Kiosks
- Check-in Kiosks
- Employment Kiosks
- Bill Payment Kiosks
- ATM (Automated Teller Machine) Kiosks
- Locker Kiosks
- Charging Kiosks
- Other (Web Payphone, Gaming) Kiosk Types
- Vending Kiosks
- Kiosk Market by End-Use :
- Kiosks for Retailers
- Kiosks for Transport (Airport/Railway/Bus) Operator
- Kiosks for Banks
- Kiosks for Advertisers
- Kiosks for Petrol Stations
- Kiosks for Commercial Complexes (Education, Hospital, etc.)
- Kiosks for Government
- Kiosks Market by Region :
- North America Kiosk Market
- Europe Kiosk Market
- Asia Pacific Kiosk Market
- Middle East and Africa Kiosk Market
- Latin America Kiosk Market
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