North America expected to account for largest interactive kiosk market share from 2020 to 2025
Northrook, IL -- (SBWIRE) -- 02/12/2020 -- According to the new market research report "Interactive Kiosk Market by Offering (Hardware and Software & Services), Type (Bank Kiosks, Self-service Kiosks, and Vending Kiosks), Location (Indoor and Outdoor), Panel Size (17"-32" and Above 32"), Vertical, and Region - Global Forecast to 2025", published by MarketsandMarkets™, the Interactive Kiosk Market is expected to grow from USD 26.2 billion in 2020 to USD 32.8 billion by 2025, at a CAGR of 4.6%.
The growth of this market is driven by factors such as enhanced shopping experience for customers, lower investment costs than traditional outlets, enhanced applications other than conventional ones, and innovations in touch screen display and glass technology.
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Interactive kiosk market for bank kiosks expected to grow at the highest CAGR during the forecast period
Interactive kiosks are largely used for banking and financial services. The market for bank kiosks is expected to register the highest CAGR during the forecast period. The bank kiosks, through their ability to perform different functions, provide more convenient, flexible, high-performance, point-of-interaction solutions to consumers for their banking activities. The customers can complete standard transactions and get remote assistance for complex transactions through these kiosks.
Panel size above 32" is expected to grow at higher CAGR from 2020 to 2025
The market for above 32" interactive kiosks are expected to grow at a higher CAGR from 2020 to 2025. These large-sized displays are very expensive. Hence, they are primarily used in some niche applications. However, improved product performance and reduced cost are expected to open up new application areas for these displays in the corporate, educational, hospitality, and retail sectors during the forecast period.
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APAC expected to grow at highest CAGR during forecast period
The interactive kiosk market is rapidly expanding in APAC. The growth of the market in APAC can also be attributed to the advancements in technology and emergence of new business models. The booming retail sector and emerging infrastructures in the region would further facilitate the growth of the kiosks in the APAC region. The growing popularity of kiosk products, large potential customer base, and technological advancements taking place in countries such as India and China are the factors contributing to the growth of the interactive kiosk market in APAC.
Some of the major players operating in the interactive kiosk market are KIOSK Information Systems (US), Olea Kiosks Inc. (US), Frank Mayer and Associates, Inc. (US), Source Technologies (US), NCR Corporation (US), Diebold Nixdorf (US), Embross (Canada), Meridian Kiosks (US), REDYREF Interactive Kiosks (US), lilitab, LLC (US).
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