Through research carried out by Marketsandmarkets, the interactive kiosk market is expected to reach $39.1 billion in value by 2027.
Projected to grow 6.3% from 2022 to 2027, interactive kiosks are a mainstay for banks and financial institutions, seeing growth as a result of enhanced shopping experience, rising demands for self-service, enhanced applications and innovations in touch screen display and glass technology.
Customers can complete standard transactions by gaining remote access for complex transactions through kiosks. Bank kiosks afford customers the opportunity to take advantage of more convenient, flexible and high-performing solutions for various banking activities.
The incorporation of modern technologies has also been highlighted as a factor in the ever-growing kiosk market. Marketsandmarkets found that the financial sector cut down on labour costs, bringing about a more technological approach to banking in driving interactive kiosks for more use in banking situations.
Developing software solutions has also been cited as a key area in the growth of the interactive kiosk market in the coming years. These software solutions play a major role in enabling sellers to have tailored location requirements and user-friendly solutions for smooth functioning.
32 inch interactive kiosks are also expected to make a leap in growth by 2027. These 32 inch kiosks are typically used for healthcare and hospitality sectors and restaurants. These large-sized displays are very expensive. However, improved product performance and reduced costs are projected to branch out into corporate and retail sectors, expanding the possibilities for customer engagement.
Research found that North America is expected to hold the largest share of interactive kiosks during the forecast period. Saved time, need for accuracy, high living standards and more, are all contributing factors as to why the region is expected to have a surge in kiosks.
The retail sector in North America particularly is looking to become more reliant on these kiosks. Marketsandmarkets found that the US is moving towards a more solution-oriented approach to its retail sector, motivating manufacturers for more automated products. Quick point-of-sale (PoS) is an approach that they deem to be favourable in the coming years.
Firms such as NCR Corporation, Source Technologies, Olea Kiosks and Glory Limited, have all been discovered as key players in the growing surgence of interactive kiosks.