Koisks serving various purposes have become runaway hits with the public. Studies show that vending kiosks dominated the global kiosk market, with over 45% share of it in 2015. Going forward, the segment is predicted to expand at 11.5% CAGR from 2016 to 2024.
Albany, NY -- (SBWIRE) -- 05/11/2017 -- Kiosks have become an integral part of our daily lives and there are a range of them such as drink vending kiosks, ticketing kiosks, photo printing kiosks, bill payment kiosks, locker kiosk and information kiosks. Their increasing popularity coupled with tanking hardware cost and sophisticated technology, have made them a lucrative business opportunity. Globally, their market is many decades old, but kiosk sales have seen a phenomenal increase only in the past couple of years. The global kiosk marke t is forecasted to expand at a 10.9% CAGR from 2016 to 2024 to reach US$30.8 bn by 2024.
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Tailwinds and Headwinds to the Global Kiosk Market
Charging kiosks – used to charge phones and batteries – is also slated to register phenomenal growth at a CAGR of 13.5% from 2016 to 2024. Demand will result mainly from increased use of mobile computing devices and electrical vehicles worldwide.
Further, the retail and entertainment industries are providing a boost to the global kiosk market and would continue doing so in the future. In the retail sector, the self-checkout kiosk has gained traction because of a growing crop of savvy customers. Kiosks also gather customers' data to customize their services and product offerings. This in turn enhances customer satisfaction and further drives up demand for the kiosks. A burgeoning retail industry in China and India and popularity of DVD rental kiosks, photo printing kiosks, and movie ticket ordering kiosks in the entertainment industry is slated to pump up sales and revenue.
An ever changing technology landscape, however, where disruptions are common, also means interactive kiosk manufacturers are hard-pressed to constantly update themselves with new technologies since the latest technology becomes outdated every six months. This is one major deterrent to their growth.
The Market from 2014 to 2024
The global kiosk market can be segmented based on the different product offerings. For example, under vending kiosks there are: food vending, drink vending, DVD rental, and photo printing kiosks. Under self-service kiosks, there are: ticketing kiosks, information kiosks, employment kiosks, check-in kiosks, bill payment kiosks, and patient interactive kiosks. Locker kiosks, ATM (automated teller machine), charging kiosks, web payphone, and gaming kiosks markets are also discussed.
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The regional markets for kiosks are mature, but may see sluggish growth in the upcoming years. Based on geography the global kiosk market can be segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. Of them, North America had the major market share – nearly 42% – in 2015 and is expected to remain a major revenue generator in the next couple of years. Europe followed next with 22% share in the global kiosks market in 2015. In the next few years, buoyed by finance, banking, and aviation industries, the global kiosks is expected to see an impressive growth in the regional markets of Latin America and Middle East and Africa (MEA).
Some of the well-entrenched players in the business are: Wincor Nixdorf International GmbH, Fujitsu Ltd., Meridian Kiosks, Diebold Inc., NCR Corporation, Olea Kiosks, Meridian Kiosks, Slabb Kiosks, Phoenix Kiosks, and Kontron AG.
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