Interactive Kiosk Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)

4
science-technology

Summary

The Interactive Kiosk Market was valued at USD 23.94 billion in 2020, and it is expected to reach USD 33.05 billion by 2026, with a CAGR of 5.52% during the forecast period (2021 - 2026)

Press Release

An interactive kiosk is a computer terminal that is supplemented by specialized hardware and software that offers access to information, and it is used in several end-user applications, such as communication, education, retail, travel and tourism, banking and financial institutions, food and beverage industries, etc.

– For instance, according to the Civil Aviation Administration of China in October 2018, China deployed fully automated self-service kiosks at Shanghai’s Hongqiao for flight and baggage check-in, security clearance, and boarding powered by facial recognition technology.
– The end users expect the service to be more personalized and efficient. As technology continues to expand into all areas of daily activity, several companies are shifting landscape by engaging customers with this interactive technology. For instance, Yum China Holdings has launched a new restaurant concept, KPRO by KFC, in Hangzhou, China (near Shanghai) with a set of free-standing ordering kiosks in the stores that include facial recognition and payments into the screens.

Key Market Trends

Retail industry is expected to Register a Significant Growth

The retail industry is expected to benefit from interactive kiosks as in-store product information and promotional displays have become a prominent source of customer attraction. Self-directed bill payment, check-out, digital signage are some of the key applications that retailers offer to keep their overhead costs low.

– With the advent of AI-enabled interactive kiosks gaining popularity in retail applications, it acts as a catalyst for adoption of interactive kiosks in retail. Many organizations in the marketplace are seen collaborating with an aim to offer the retail industry with targeted marketing. For instance, in 2019, KIOSK Information Systems collaborated with Beabloo to showcase a digital signage display with active customer intelligence.

Competitive Landscape

Competitive rivalry in the Interactive Kiosks market is high owing to the presence of some key players like KIOSK Information System, Meridian, NCR Corporation and many more. These companies are able to gain a competitive advantage over other players due to their ability to constantly innovate the products and also to come up with a product by forecasting the needs of their consumers. Hefty investments in research and development, mergers and acquisition and strategic partnerships have helped the companies to gain substantial market share.

For instance, in Jun 2017, At G2EASIA 2017, Macau, the company launched products, such as smart POS, barcode scanners and encryption pin pad with PCI certification.

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