October 09, 2024 08:20 ET | Source: SNS Insider pvt ltd SNS Insider pvt ltd
Pune, Oct. 09, 2024 (GLOBE NEWSWIRE) -- Market size & Growth Analysis: outdoor led signage for businesses
As per the SNS Insider Report, “The Interactive Kiosk Market was valued at USD 32.18 Billion in 2023 and is expected to reach USD 64.51 Billion by 2032, growing at a CAGR of 8.05% over the forecast period 2024-2032.”
The interactive kiosk market is growing at a steady rate due to its wide range of applications and the evolution of technologies in this space, making self-service services a necessity across industries. For instance, Pizza Hut and KFC deploy interactive kiosks for better experience & operation. Customer-facing kiosks for browsing menus, customizing orders, and taking payments reduce wait times and human error. Pizza Hut has started to use kiosks that allow diners more choices for dressing up their pies and choosing pizza crusts, which promotes engagement in the restaurant. High-converting content like KFC's combo meals and exclusive offers by using a kiosk to encourage upselling. In fact, in the retail industry, 54% of customers prefer to help themselves – so retailers are increasingly adopting kiosks for things like placing orders and recommendations. The healthcare industry is following suit with the adoption of over 75% of U.S. hospitals implementing kiosks to expedite patient check-in and information retrieval. Also, according to Neilsen, 65% of consumers are willing to leverage self-service kiosks rather than wait in line a statistic likely to increase post-pandemic as businesses adopt more contactless solutions for greater safety.
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Key Market Players Listed in this Research Report are:
"Comprehensive Segment Breakdown Highlights Emerging Opportunities in the Market"
Hardware held a 50% market share in 2023, the highest as the application of physical kiosks is becoming increasingly popular across all industries. The modern features of these kiosks include touch screens, interactive displays, and payment systems for better customer involvement and operational efficiency. Some businesses like those at KIOSK Information Systems even provide customized kiosks tailor-made for specific use cases as in the airport and transportation centers where ticketing and check-in services are managed.
Automated Teller Machines (ATMs) accounted for the largest market share with 53% in the interactive kiosk market in 2023. This enables people to do the required banking operations which may be anything from withdrawing everyday cash, depositing money, transferring funds, or even enquiry about printable account statements. The commonality of ATMs is that they are convenient, efficient, and available 24/7. Bank of America and Wells Fargo have pumped money into ATM technology that improves user experience through features like touchscreen interfaces, multilingual capabilities, and advanced security systems.
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Key Market Segments:
"Regional Market Spotlight: Analyzing Performance and Prospects Across Key Regions"
In 2023, North America accounted for the largest share in the interactive kiosk market with a 49% market share due to the steady deployment of technological innovations and mounting interest towards self-service solutions across sectors. The well-established infrastructure in the region helps retailers, healthcare providers, and the hospitality sector to deploy kiosks that can provide regular customer engagement and enhance operational efficiency. One instance would be NCR self-checkout kiosks, these can be found on supermarket peripheries across the nation and they help accelerate customer service.
Europe is a rapidly growing region in the interactive kiosk market with the fastest CAGR over 2024-2032 owing to digitalization across multiple industries & inclination towards self-service technology. Rising trend of kiosks in public transport, retail, and healthcare sectors to increase user experiences and reduce wait times Companies like KIOSK Information Systems and Azkoyen Group are pioneers in the United Kingdom, Germany, and France.
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Future Trends for the Interactive Kiosk Market:
The Interactive Kiosk Market is on a robust growth trajectory, driven by the increasing demand for self-service solutions and technological advancements. As businesses continue to seek innovative ways to engage customers, interactive kiosks will play a pivotal role in enhancing customer experiences across various sectors.
Table of Contents - Key Points Analysis
5. Statistical Insights and Trends Reporting
5.1 Interactive Kiosk Customer Demographics, by Region (2023)
5.2 Interactive Kiosk Design Trends (Historic and Future)
5.3 Interactive Kiosk Foot Traffic and Engagement Rates (2023)
7. Interactive Kiosk Market Segmentation, by Component
8. Interactive Kiosk Market Segmentation, by Type
9. Interactive Kiosk Market Segmentation, by End User
12. Use Cases and Best Practices
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