Smart City Kiosk Market

Smart City Kiosk Market Outlook (2022-2032)

Digitalization is now than ever transforming lives and economies. These rising smart device users are fuelling demand for digital trends. As the number of internet-connected gadgets grows and their level of intelligence increases around humans, technology has undergone substantial change.

The emergence of smart homes and cities around the world has sparked the creation of a number of gadgets, including smart city kiosks, which help increase public engagement by disseminating information about the local community, weather conditions, entertainment advertisements, and more.

Kiosks in smart cities are typically made to be contemporary, useful, approachable, and capable of providing a range of urban services. The development of the smart city kiosk market is likely to be influenced by growing efforts to create smarter, safer, and more effective cities.

The global market for smart city kiosks valued at USD 28.62 Billion in 2022. The market is expected to grow with a CAGR of 6.3% in the forecast period and is anticipated to cross a valuation of USD 52.72 Billion by 2032.

Report Attributes	Details
Market size (2022 A)	USD 28.62 Billion
Base Year for Estimation	2022
Forecast duration for this research	2022-2032
Forecasted Market value (2032 F)	USD 52.72 Billion
Global Market Growth rate (2022-2032 E)	CAGR of 6.3%
Key Companies Profiled	Verizon Communications Inc. OLEA kiosks Inc. Smart City Media CIVIQ Smartscapes LLC Ferrograph Ltd. Smartlink Holdings Limited Smart City Holdings LLC Soofa Inc. Intel Corporation and Peerless A.V. Inc.

What is the driver of growth for the smart kiosk market?

Manufacturing firms are increasing their promotion of finished products which has emerged to be a significant driving factor for this market. Integration of network and technology-facilitated live interaction is estimated to rise in sales of smart kiosks for collecting customer data.

The advertising industry has advanced with many new features, which is expected to increase demand for marketing agencies to implement smart city kiosks. Vista Entertainment Solutions Ltd. gave the go-ahead for OLEA Kiosk Inc., a market leader in the deployment of smart kiosks, to provide it with self-service kiosk hardware. This has increased sales of the smart kiosk throughout its service region.

Fast internet connectivity and mobility have become key factors for the development of a city, influencing the adoption of kiosks in airports, rail terminals, subways, movie theatres, parking lots, and many others. Such devices not only help improve connection in the city and generate revenues through advertisements but also offer a range of services such as emergency calls, Wi-Fi signaling, traffic information, public transport schedules, and more. Moreover, governments worldwide are taking initiatives to provide favorable services in the city including transit, connectivity, and security, which in turn is likely to boost the growth of the smart city kiosk market.

The demand for the deployment of smart kiosks in public spaces is being further driven by new models that can provide consumers with real-time data. In order to facilitate kiosk deployment for its customers and boost sales of smart city kiosks under its brand, Vista has also started to offer a variety of OLEA models.

Kiosks are meant to help customers discover shopping malls which may assist in making decisions about what to shop for and where are stores located. In addition to the myriad benefits this single device may provide, a novel business model is already in use and is expected to lead to a great demand for smart city kiosks in the coming years.

What are the restraints in the market?

Smart city kiosks are highly vulnerable to a number of cyber-attacks including ransomware that hacks IT systems and extracts personal data. Growing concerns over such attacks are likely to pose a potential threat to the growth of the smart kiosk market. In addition, the high cost associated with infrastructure development and installation of technically advanced devices may continue to challenge the growth of the kiosk market.

The market face hindrance due to the high cost of the initial setup. The regular maintenance of this kiosk is likely to limit the use and penetration of sales of such kiosks. There is a high risk of schedules, and pre-planned maintenance is a deterrent to the expansion of this industry. The issue with smart device failures and server problems has a negative impact on the smart city kiosk.

Regional Outlook

The growing adoption of technology and digital literacy in North America is contributed to making it a dominant region. There are many local manufacturers in the kiosk market in this region. The next-generation infrastructure in this area is fostering the participation of regional players in the market.

Asia Pacific is anticipated to expand in this market owing to the rising no of smart device users. Japan is contributing to higher sales in this market which is likely to dominate in terms of kiosk manufacturing capacity. Many companies are entering into a kiosk development expected to increase market share in the forecast period.

Recent developments

• In March 2019, Peerless-AV collaborated with VSBLTY Groupe Technologies Corp. to launch a smart city kiosk that features VSBLTY's industry-leading DataCaptor™ and VisionCaptor™. The new product was displayed at the Digital Signage Expo (DSE) 2019 in Las Vegas.
• In March 2019, OLEA kiosk Inc., a leading player in the smart city kiosk market, received approval from Vista Entertainment Solutions Ltd. to support it with self-service kiosk hardware. Vista has also begun offering various OLEA models to make kiosk deployments easier for its customers.
• In December 2018, CIVIQ Smartscapes announced to the provision of kiosks for the Boston Convention and Exhibition Center (BCEC) of the Massachusetts Convention Center Authority (MCCA) in South Boston. Installation of CIVIQ’s WayPointX is aimed at providing user-friendly for conference attendees and visitors.
• In April 2018, Smart City Media announced entering into a strategic partnership with Duke Energy One to deploy outdoor digital technology that helps people better connect with their community. According to the company, the main focus of the partnership is to deliver a digital ecosystem by offering real-time information, local content, and connectivity to enhance the quality of life for residents.

Smart City Kiosk Market Segmentation

• By Region :

  • North America
  • Latin America
  • Europe
  • Japan
  • Asia Pacific excluding Japan (APEJ)
  • Middle East & Africa (MEA)