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2020 Witnessed Soaring Demand for Self Service Kiosk with the Rising Popularity of Self Service Kiosks; Market to Grow Significantly Throughout 2020-2028

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2020 Witnessed Soaring Demand for Self Service Kiosk with the Rising Popularity of Self Service Kiosks; Market to Grow Significantly Throughout 2020-2028

November 19
06:38 2020
The market for self service kiosk is anticipated to record a notable CAGR of around 8.80% over the forecast period 2020-2028.

Research Nester published a report titled “Self service kiosk market– Global Demand Analysis and Opportunity Outlook 2020-2028” which delivers detailed overview of the self service kiosk market in terms of market segmentation by product type, by payment method type, by component type, by end users and by region.

Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.

The market for self service kiosk is anticipated to record a notable CAGR of around 8.80% over the forecast period 2020-2028. The shifting consumer preferences towards digital payments owing to the direct purchase through debit or credit cards without human interaction are driving the growth of the market. Further, seamless performance and reduction in operational time offered by self service kiosk in effective buying is fostering the market growth. In addition, increasing usage of smart phones and tablets is leading to the rising adoption of mobile wallets. Therefore, these factors along with rising digitally advanced infrastructure in banks are fostering the growth of the market. On the basis of product type, the market is segmented into food & beverage kiosk, retail kiosk, parking kiosk, information kiosk, patient interactive kiosk, check-in kiosk and others. The retail kiosk segment is estimated to dominate the market on the account of availability of product information and services unified with kiosks along with the advertisements without actually entering the outlets. Further, retail kiosk eliminates long queues at billing counter and enhances customer experience. Moreover, growth in smart retail stores is capturing the attention of customers, which in turn, is propelling the growth of the market over the forecast period.

Based on the regional analysis, the market for self service kiosk is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The huge investments for the setting up of new retail stores along with the rising quick shopping experiences of consumers will account for the dominance of North America in the self service kiosk market. Additionally, the surge in adoption of self service kiosks and rising disposable income of consumers are generating huge demand for self service kiosks. Moreover, presence of several quick service restaurants in the region along with the well establishment of banking sector base is fostering the growth of the market. The market in Asia Pacific is estimated to witness fastest growth rate owing to the rising adoption of digital solutions in healthcare infrastructure along with rapid installations of self service kiosks in metro cities. Hence, these reasons are estimated to drive the growth of the market during the forecast period. CLICK TO DOWNLOAD SAMPLE REPORT

Technological Advancements along with the Popularity of Self Service Kiosks

The rising advancements in the technology for the development of security systems such as Near-Field Communication (NFC) and Radio Frequency Identification (RFID) are fostering the market growth. Further, these advancements offers convenience, seamless demand fluctuation, standardization of services and reduced waiting time to consumers and service providers. Additionally, in order to enhance customer value and consumer dining patterns, there is a notable rise in operational activities for self service kiosks. The heavy traffic volume of visitors at restaurants and retail outlets are generating healthy demand for touch screen self service kiosk. Therefore, these factors along with the increasing number of food outlets and customized products demand will propel the market growth over the forecast period.

However, high initial investments associated with self service kiosks along with the losing traction of touch based self service kiosk owing to the outbreak of COVID-19 pandemic is expected to operate as a key restraint into the growth of self service kiosk market over the forecast period.

This report also provides the existing competitive scenario of some of the key players of the self service kiosk market which includes company profiling of KOIOSK Information Systems, NCR Corporation (NYSE:NCR), Touchscreen Solutions, Source Technologies, ADVANCED KIOSKS, Embross, Olea Kiosks, Aila Technologies, Inc., REDYREF and DynaTouch. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the self service kiosk market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future. CLICK TO DOWNLOAD SAMPLE REPORT

About Research Nester:

Research Nester is a leading service provider for strategic market research and consulting. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates and executives to take wise decisions for their future marketing strategy, expansion and investment etc. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds. Our out of box thinking helps our clients to take wise decision in order to avoid future uncertainties.  

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