Interactive Kiosk Market size to Grow by USD 11.5 Billion between 2022 to 2027 | Increasing use of cashless payment drives the market growth
Interactive Kiosks that provide real-time information and services, enhance urban experiences, and drive adoption are critical components of smart city projects.
NEW YORK, Aug. 17, 2023 /PRNewswire/ -- The Global Interactive Kiosk Market size is expected to grow by USD 11.5 billion between 2022 to 2027, with a projected Compound Annual Growth Rate (CAGR) of 7.94%. The expansion of the Interactive Kiosk Market is based on various factors, which encompass increased requirements within the oil and gas sector, broader utilization within the food and beverages industry, and advancements in technologies related to carbon capture and storage.
Technavio provides a comprehensive analysis of market segmentation by end-user (retail, financial services, travel and tourism, healthcare, and others), component (services, hardware, and software), and geography (North America, APAC, Europe, Middle East and Africa, and South America). The report also offers historical market data from 2017 to 2021, enabling a comprehensive understanding of market drivers, trends, challenges and developments. To view the historical data, get the sample report now!
The major companies in the Interactive Kiosk Market, include:
- Acante Solutions Ltd.
- Advanced Kiosk
- Diebold Nixdorf Inc.
- Embross
- Frank Mayer and Associates Inc.
- IER SAS
- KIS Ticket
- Meridian Kiosks
- Mitsogo Inc.
- NCR Corp.
- Olea Kiosks Inc.
- Posiflex Technology Inc.
- Pyramid Computer GmbH
- RedyRef
- Rosendahl Conceptkiosk AS
- SITA
- Source Technologies Inc.
- Thales
- Vecna Technologies Inc.
Key drivers and trends fueling growth and reshaping the Interactive Kiosk Market:
- The surge in digital transactions, driven by government initiatives and secure payment options, increases demand for interactive kiosks in sectors like retail and dining.
- Interactive Kiosks that provide real-time information and services, enhance urban experiences, and drive adoption are critical components of smart city projects.
- Retailers deploy interactive kiosks to empower customers with product details, discounts, and self-checkout, revolutionizing shopping experiences.
- Advancements in interactive digital signage challenge traditional kiosks, requiring innovation to highlight unique transactional and interactive benefits.
Challenges Hindering Growth of the Interactive Kiosk Market
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Challenges |
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1. The increasing popularity of advanced digital signage with interactive features set a challenge to traditional interactive kiosks, potentially diverting demand and requiring kiosk providers to differentiate their offerings. |
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2. Inadequate or unreliable infrastructure and connectivity can hinder the seamless operation of interactive kiosks, affecting user experiences and limiting deployment in certain locations. |
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3. The growing preference for tablet-based kiosks, often due to their cost-effectiveness and versatility, presents competition to traditional interactive kiosks and influences market dynamics. |
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4. Incorporating advanced technologies, such as AI, IoT, or complex payment systems, into interactive kiosks can be challenging, requiring expertise and resources to ensure smooth functionality and user-friendly interfaces. |
The Interactive Kiosk Market is driven by the rise of cashless payments and smart city projects, enhancing customer engagement and shopping experiences. However, challenges include competition from advanced digital signage, connectivity issues, tablet kiosk popularity, and the complexities of integrating new technologies. The market's growth will depend on addressing these challenges while capitalizing on its strengths. The report provides valuable insights into market trends, drivers, challenges, and regional dynamics, empowering companies to refine marketing strategies and gain a competitive advantage in the market. To access the full report, please buy the complete report here.
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SOURCE Technavio
