Voice-based Self-Service Kiosks to Foray Ahead in the Kiosk Industry, Says Fact.MR
Published : 20 Jan 2022 Industry: Technology
Fact.MR forecasts the demand for self-service kiosks to expand at a CAGR of 11% in terms of value during the period of assessment. The report estimates that the market for the self-service kiosk is likely to surpass US$ 79.5 Bn by the end of the 2022-2032 forecast period.
From 2017 to 2021, demand for self-service kiosks expanded at a CAGR of 7%. With the onset of COVID-19, there was increased reliance on cashless and no-contact payments and purchases. This led to a significant broadening of prospects for the market since 2020. Due to the fear of contracting the virus, customers are looking for alternatives such as voice-based self-service kiosks that have the same features and can help reduce the spread of the virus significantly.
Implementing a voice-based self-service kiosk would also ensure that customers make requests naturally and conversationally. Voice assistants that can calmly take orders or accept payments will ensure an enhanced customer experience. Additionally, new technological developments in the field of AI are opening up more possibilities for voice-based self-service kiosk operations.
Key Takeaways from the Market Study
- Global self-service kiosk market to be valued at US$ 28 Bn in 2022
- By product, retail self-service kiosks to account for 55% revenue through 2032
- Non-cash payment kiosks to gain traction, surging at a CAGR of 12% until 2032
- Self-service kiosks for the banking & financial services industry to comprise 30% of deployment
- U.S to remain the largest market, capturing a market share worth 40% from 2022-2032
- China to be the dominant market in Asia, garnering 3/10th of overall market revenue
“Rising preference for contactless payments and swift shopping experiences are setting the stage for self-service kiosks deployment. With increased reliance on AI and innovation, the market is slated to gain major traction in forthcoming years,” says a Fact.MR analyst.
The competitive landscape of the self-service kiosk market is shaped by product innovation and strategic mergers & acquisitions. Advanced Kiosks, Emboss, IER, Kiosk Information Systems, Meridian Kiosks, NCR Corporation, REDYREF, Aila Technologies, Inc., ZEBRA Technologies Corporation, and Source Technologies are some prominent manufacturers of self-service kiosks.
- In August 2021, NCR Corporation announced that $2.7-billion asset TruMark Financial Credit Union has selected NCR to provide a more seamless, consistent digital banking experience to its retail and business members. With NCR Digital Banking, TruMark Financial will be able to offer an intuitive experience for consumers and businesses alike.
- In October 2021, Zebra Technologies Corporation announced the acquisition of antuit.ai, a provider of artificial intelligence (AI)-powered Software-as-a-Service (SaaS) solutions specific to forecasting and merchandising for the retail and CPG industries.
More Valuable Insights
In its latest report, Fact.MR offers an unbiased analysis of the market providing historical data for the period of 2017-2021 and forecast statistics for the period of 2022-2032.
The study divulges essential insights on the market on the basis of products (food kiosks, beverage kiosks, retail kiosks, parking kiosks, electric vehicle charging kiosks, patient interactive kiosks, information kiosks, employment kiosks, check-in kiosks, and automated teller machines kiosks), payment method (cash payment and non-cash payment), and end-use (banking & financial services, healthcare, retail, hospitality, and transportation) across six major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).
Fact.MR’s Domain Knowledge in Technology
Our ICT consulting team guides organizations at each step of their business strategy by helping you understand how the latest influencers account for operational and strategic transformation in the ICT sector. Our expertise in recognizing the challenges and trends impacting the global ICT industry provides indispensable insights and support – encasing a strategic perspective that helps you identify critical issues and devise appropriate solutions.
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Sr. Consultant – ICT