AI Driving Transformation, Interactive Kiosk Market to Grow by USD 13.3 Billion (2024-2028) as Cashless Payments Rise - Technavio Report

NEW YORK, Sept. 18, 2024 /PRNewswire/ -- Report with the AI impact on market trends- The global interactive kiosk market size is estimated to grow by USD 13.3 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 8.47% during the forecast period. Increasing use of cashless payment is driving market growth, with a trend towards growing investment in smart cities. However, growing demand for tablet kiosks poses a challenge. Key market players include Acante Solutions Ltd., Advanced Kiosk, Diebold Nixdorf Inc., Embross, Frank Mayer and Associates Inc., IER SAS, KIS Ticket, Meridian Kiosks, Mitsogo Inc., NCR Voyix Corp., Olea Kiosks Inc., Posiflex Technology Inc., Pyramid Computer GmbH, RedyRef, Rosendahl Conceptkiosk AS, SITA, Source Technologies, Thales Group, and Vecna Technologies Inc..

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Market Driver

Interactive kiosks have become essential components of smart city projects due to their versatile functions. These devices facilitate various tasks such as check-ins, parking access, ticketing, information sharing, pathfinding, and bill payments. The deployment of interactive kiosks enhances the efficiency and quality of services offered while promoting better information sharing. The global trend of investing in smart cities to boost economy and improve citizens' lifestyles is fueling the adoption of interactive kiosks. For instance, in 2019, Anbar, Iraq, and South Korean and American companies signed an MoU to build a smart city, and the Philippines constructed a new smart city called New Clark City in 2022, investing approximately USD14 billion. These initiatives, among others, underline the growing importance of interactive kiosks in the context of smart city infrastructure development. 

Interactive kiosks are trending in various industries, including clinics, administrative buildings, and retail stores. These innovative products offer self-service options for customers, reducing the need for human interaction in high-traffic areas. Clinics use integrated kiosks for patient record management, while cinemas allow customers to buy tickets. Airline booking kiosks are common at airports, and service companies utilize them for personnel scheduling. Adoption of interactive kiosks benefits both businesses and customers by reducing infrastructure expenses and offering user-friendly purchasing selections. Technology advancements, such as AI assistants and machine learning techniques, enhance the functionality of these informational gadgets. Leading companies like Compass Plus Technologies, Visa, and Mastercard, are investing in interactive kiosks for retail banking research. Self-checkout machines are also becoming standard in retail stores. SmartMatter's digital signage and AI-assisted kiosks are revolutionizing offices, movie theatres, lodging establishments, and even ATMs. Overall, interactive kiosks offer numerous benefits, including convenience, efficiency, and cost savings. As technology continues to advance, we can expect to see even more innovative uses for these interactive gadgets. 

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Market Challenges

• Tablet kiosks are gaining popularity among hotels, restaurants, and retailers as an alternative to traditional interactive kiosks. These tablet kiosks offer similar functionalities, such as check-in/check-out, bill payments, and food ordering. The adoption of tablet kiosks provides advantages like cost savings and mobility. In the foodservice industry, tablet kiosks are increasingly used in restaurants for ordering and bill payments. For instance, Tabletop Media LLC (Ziosk) partnered with Cerca Trova Restaurant Concepts LLC to provide tabletop tablets in 45 additional locations. New product launches, like Zebra Technologies Corp.'s CC6000 and CC600 self-service tablet kiosks, are driving market competition and increasing demand for tablet kiosks, potentially impacting the growth of the global interactive kiosk market.
• Interactive kiosks, including those from companies like SmartMatter and NCR Corporation, are revolutionizing various industries. In offices, airports, healthcare facilities, lodging establishments, and retail, these self-service solutions offer numerous benefits. AI assistants and digital signage enhance user experience, while machine learning techniques enable personalized interactions. Transaction technology advancements, such as those from Visa, Mastercard, and UnionPay, ensure secure payment processing. However, challenges persist. Cybersecurity, especially encryption technology advancements, is crucial for protecting user data. Self-service kiosk makers must address cyber threats to maintain trust. Long lines at public venues like airports and banks can be reduced with pay-per-use kiosks. In retail, interactive kiosks streamline processes, from gift registries to automated check-ins. Machine learning techniques can analyze online activity and software programs to offer customized recommendations. Standard PCs with internet connectivity are integral parts of these applications for multiple users. Despite these advancements, challenges remain. Integrating AI assistants and digital signage requires careful planning. ATMs and other transaction technology must be updated for compatibility. Public venues, like train stations, must ensure adequate internet connectivity. Visitor data gathering must comply with privacy regulations. The tourist experience can be enhanced with interactive kiosks, but they must be user-friendly and accessible. Overall, the possibilities are endless, and self-service kiosks are an essential part of our digital future.

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Segment Overview

This interactive kiosk market report extensively covers market segmentation by

1. End-user
• 1.1 Retail
• 1.2 Financial services
• 1.3 Travel and tourism
• 1.4 Healthcare
• 1.5 Others
2. Component
• 2.1 Services
• 2.2 Hardware
• 2.3 Software
3. Geography
• 3.1 North America
• 3.2 APAC
• 3.3 Europe
• 3.4 Middle East and Africa
• 3.5 South America

1.1 Retail- The retail segment holds a significant market share in the global interactive kiosk industry. In retail stores, these kiosks serve various purposes such as product browsing, in-store advertising, and check-out systems. Retailers benefit from interactive kiosks as they enhance customer experience through quicker information sharing and personalized experiences. Additionally, they help retailers understand customer behavior and purchase patterns by collecting data. Interactive kiosks also reduce labor costs and increase operational efficiency. Supermarkets, in particular, are major adopters due to their large floor spaces, which enable faster product location and shorter checkout lines. The growth of the global interactive kiosk market is driven by increasing investments in retail infrastructure. For instance, Western Beef's installation of 20 new self-checkout systems underscores this trend. Interactive kiosks offer advantages over traditional signage, including customer interaction, centralized control, and superior design capabilities. Retailers use them to attract customers with product information and offers, and to improve operational efficiency. The expansion of supermarkets worldwide is expected to fuel market growth.

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Research Analysis

Interactive kiosks, powered by AI assistants, are revolutionizing various industries by enhancing the customer experience. These smart devices, combining digital signage and machine learning techniques, are increasingly found in offices, airports, healthcare facilities, lodging establishments, and public venues like train stations and shopping malls. They streamline processes, reduce long lines, and gather visitor data for more personalized services. In retail banking, ATMs are being upgraded with interactive kiosks to offer more than just cash withdrawals. Media & Entertainment and Healthcare sectors also benefit from these advanced technologies, offering self-service check-in and appointment scheduling. Integral parts of modern infrastructure, interactive kiosks are adopted by key players in the industry, including NCR Corporation, and financial giants like Visa, Mastercard, and UnionPay.

Market Research Overview

Interactive kiosks are transforming the way we interact with various industries, from offices to airports, healthcare facilities, lodging establishments, and retail stores. These intelligent information terminals, powered by AI assistants and digital signage, offer a user-friendly experience for multiple users. They are integral parts of high-traffic areas such as airports, train stations, and shopping malls, providing pay-per-use services like automated airport check-ins, ATMs, and self-service kiosks. Machine learning techniques enable personalized experiences, while transaction technology and encryption advancements ensure security. Self-service kiosks are an innovative solution for long lines and paperwork in public venues, offering benefits such as reduced infrastructure expenses, improved adoption, and enhanced possibilities for visitor data gathering and tourist experiences. From cinemas and clinic patient records to retail shops and administrative buildings, interactive kiosks are becoming an indispensable tool for businesses and services alike.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• End-user
• Retail
• Financial Services
• Travel And Tourism
• Healthcare
• Others
• Component
• Services
• Hardware
• Software
• Geography
• North America
• APAC
• Europe
• Middle East And Africa
• South America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

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