The rising demand for automation products is propelling the growth of interactive kiosks that provide audiences with engaging digital content and information through a user-friendly interface. Kiosks offer businesses innovative ways to interact with customers, reach target audiences efficiently, and flourish in a competitive environment. Hence, it is no surprise that interactive kiosks are mushrooming in various business landscapes. In the long run, businesses can significantly lower investment costs (vs. traditional methods) and, at the same time, offer a unique shopping experience to consumers via innovative touch screen displays, glass technology, etc.
The global 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%. Major players operating in the 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), and lilitab, LLC (US). These companies have adopted various strategies, such as product launches and developments, contracts, acquisitions, partnerships, and business expansion, to cater to the needs of the market.
Currently, the vending kiosk segment holds the largest share of the interactive kiosk market. Vending kiosks are primarily used at retail stores, quick-service restaurants, hotels, airports, railway stations, malls, etc. The growing number of retail stores, coupled with the ever-increasing need to expand virtually, is the main factor driving the growth of vending kiosks globally. This growth is also attributed to the secure payment gateways and increased efficiency of operations offered by these kiosks.D
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Although these kiosks provide valuable and user-friendly interaction, and they rank at the top in the self-service solutions space, the location and placement of these solutions are of utmost importance. An indoor kiosk can help attract customers if deployed in a crowded place. They offer viable alternatives in closed environments.
However, if the crowd is outside, placing a kiosk indoors will be of no avail, as they are out-of-sight for potential users. On this outlook, Jawahar B. Lalla, Founder and Director, STRATEGI-CATS Consulting (India), a consulting and self-service solutions provider firm, quoted, “For interactive kiosks, the placement is very important. The light effect, humidity, other environmental conditions, and indoor & outdoor locations play crucial parts during the deployment of a kiosk. Along with that, various compliances are also very important.” Similar are the thoughts cited by Parth Ugale, Concept and Proto Design Developer for Banking/Health/Advertising KIOSK, from Cadcord Technologies PVT. LTD. He said, “Display panels required for the kiosks in outdoor applications should be durable and match the environmental conditions. The brightness of these screens should also be more compared with the screens used in indoor applications.”
North America is expected to hold the largest size of the interactive kiosk market during the forecast period. This will likely be on the back of strong economic conditions and high customer adoption rates in this region. This region holds the largest market size due to the high demand from the retail, entertainment, travel, finance, and healthcare industries. The increasing focus of retailers on enhancing the levels of customer satisfaction is likely to boost investments in interactive kiosks and further drive market growth.
Technological advancements have resulted in customized kiosks that perform various unconventional tasks, such as real estate marketing. According to a blog by IntuiLab SA (France), kiosks can help buyers explore housing options on their own. The 3D imaging technology used in the interactive display creates vibrant pictures and allows buyers to take a virtual tour around the house.
Having pointed you in the direction of the several benefits offered by interactive kiosks, we would now like to draw you toward the foremost challenge facing the interactive kiosk market. Customer preference for online shopping using tablets or mobile phones is a prominent challenge, as mobile apps allow several tasks that can be performed via interactive kiosks to be done using mobile phones. However, the several developments and innovations currently underway in diverse directions of self-service technologies across verticals are expected to help the market tide over such challenges.
