The research study covers the present scenario and growth prospects of the global interactive kiosk market for 2017-2021. To calculate the market size, the report considers revenue generated from sales of interactive kiosk machines.
Technological innovations in the retail segment are expected to drive the growth of the global interactive kiosk market as they hold the major shares. Kiosks help vendors in cost optimization by reducing the labor and infrastructure setup. Interactive kiosks are gaining popularity for enhancing customer satisfaction as they operate in a self-service mode and provide vital information to users in airports, retail outlets, and supermarkets.
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Technavio media and entertainment analysts highlight the following three factors that are contributing to the growth of the global interactive kiosk market:
Increasing inclination in customer attitude toward self-service interactive kiosks
Interactive kiosks function as self-service tools and are an integral part of places with high footfalls like retail outlets, airports, and theaters. They are also used for various applications such as registration of patients in the hospitals, booking movie tickets, and flight reservations. Interactive kiosks offer several benefits to service providers and optimize costs by reducing the labor and infrastructure setup.
Ujjwal Doshi, a lead publishing and advertising research analyst at Technavio, says, “In the healthcare industry, interactive kiosks are used for managing key resources as they can carry out basic medical tests through automation that do not need a doctor’s intervention. Hence, the healthcare industry is adopting kiosks as a medium of service to save time for doctors.”
Enhanced shopping experience of customers
Interactive kiosks enable retailers to provide a higher level of satisfaction to consumers by offering them greater control over their purchase decisions. Through interactive kiosks, customers can choose and buy products on their own without the assistance of the store staff. Interactive kiosks are user-friendly compared with other informative devices and can handle complex tasks in less time because of technological innovations. Interactive kiosks have enhanced operational efficiency.
“Coca-Cola used interactive kiosks for marketing campaigns, through which the customer interaction was enhanced. This helped the company in its brand promotion. Such initiatives provide customers with an enhanced shopping experience,” adds Ujjwal.
Kiosks enable geographical expansion of business
Interactive kiosks have become a medium to expand the business without the need of physical stores. Thus, companies can save a huge amount of resources. Redbox Automated Retail, which is a subsidiary of Coinstar, uses automated retail kiosks for its business services such as renting of DVDs, Blu-ray Discs, and video games.
The company has about 42,000 interactive kiosks at more than 34,000 locations in the US, which helped the company to expand its business services across the US. In addition, the travel industry, finance industry, and municipal and government organizations are using interactive kiosks to geographically extend their offerings to customers instead of limiting it to their office premises.
- KIOSK Information Systems
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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