LONDON--(BUSINESS WIRE)--According to the latest research study released by Technavio, the market size of the global self-service kiosk market is predicted to reach close to USD 18 billion in revenue by 2020.
This research report titled ‘Global Self-service Kiosk Market 2016-2020’ provides an in-depth analysis of market growth in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
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“Many retail outlets are offering self-checkout kiosks to customers for faster processing of their in-store purchases. These kiosks help customers do their payment-check-out quickly, thereby eliminating long queues at retail stores. These are particularly advantageous for small outlets that have space constraints. Retailers can install six self-checkout kiosks, while utilizing the space required for just a single traditional checkout system,” said Sunil Kumar Singh, one of Technavio’s lead analysts for display and devices research.
“These kiosks are widely adopted in many European countries, including the UK, France, Germany, Ireland, Spain, Turkey, Greece, Italy, Slovenia, Poland, and Lithuania. Retail giants like Wal-Mart, Carrefour, and Tesco are progressing with their self-checkout rollouts that are expected to boost growth in the global self-service kiosk market over the next four years,” added Sunil.
Based on application, the self-service kiosk market is segmented by retail, entertainment, travel, financial services healthcare, and others.
Top three segments of the self-service kiosk market by application:
Retail: largest revenue contributor for the self-service kiosk market
The retail segment's contribution to the self-service kiosk market in 2015 was more than 46%, in 2015. Self-service kiosks in the retail segment include those deployed by supermarkets, shopping centers, general merchandise stores, drug stores, convenience stores, gasoline stations, and automobile dealerships. A typical retail self-checkout system consists of an ATM, barcode scanner, weighing scale, and check stand. After selecting the required items, consumers then scan them at the kiosk and place the products in their bags. Subsequently, customers insert their cash or credit or debit cards into the machine to pay for the goods.
Retailers across the globe are increasing their investments in adopting technologically advanced kiosks to enhance customer experience. The rising adoption of self-service kiosks in the retail sector is mainly attributed to the growing number of customers who seek high-quality service. They also help reduce overhead costs significantly by replacing support staff and providing immediate access to information on a 24/7 basis. Kiosks are also used to collect customer data, which enables retailers to customize their service offerings. Largely used by supermarkets and hypermarkets, self-service kiosks are becoming part of other retail formats like department stores, specialty retailers, and small convenience stores.
Wal-Mart's Japan subsidiary announced plans to integrate more than double the number of self-service kiosks in its stores in 2015. In May 2015, NCR, a provider of consumer transaction technologies, announced that Russian food retailer Magnit has chosen its SelfServ Self-Checkout solution, following a competitive bid. The demand for self-checkout systems in the retail sector is growing fast and is expected to foster significant growth during the forecast period.
Entertainment: second largest contributor for the self-service kiosk market
The entertainment segment's contribution to the self-service kiosk market in 2015 was close to 26% and is expected to increase to 27% by 2020. Within this sector, self-service kiosks are deployed by casinos, movie theaters, theme parks, museums, and sports arenas. The machines render a variety of services, ranging from renting out DVDs, to printing out photos, to ordering movie tickets.
In movie theaters, kiosks are used to print tickets for online purchases as well as direct ticket sales. While print-only kiosks help those who buy online to avoid long queues, ticket sales kiosks help cut labor costs. Movie theaters are now coming up with kiosks that can provide customer service at concession stands. Some theaters are even allowing moviegoers to select the previews they want to see. US-based Redbox has emerged as a key player of this market, providing services that are being used for renting out DVD movies and video games.
Travel segment of the self-service kiosk market
The travel segment's contribution to the self-service kiosk market in 2015 was close to 11%. In the travel segment, self-service kiosks are being deployed at airports, bus terminals, train stations, and subways. These kiosks are helping travelers in cutting down their check-in times, while aiding airlines in reducing labor costs. In the aviation sector, capability of multi-service kiosks for applications such as self-bag drop and self-boarding services are driving the demand for self-service kiosks. The sector is expected to invest heavily in kiosks over the next two to three years.
TravelersBox, a start-up that has been setting up kiosks in airports globally, is offering machines that help travelers in currency exchange by transferring bills and coins directly into an online account to be redeemed through gift cards. Most of the company's kiosks are located at airports in Turkey, Israel, the Philippines, and Japan. The company has recently announced its first launch in North America at Canada’s Toronto Pearson airport.
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