LONDON--(BUSINESS WIRE)--The global self-service kiosk market is expected to grow by USD 2.29 billion during 2020-2024, according to the latest market research report by Technavio. Request a free sample report
The growing preference for contactless payment is propelling the adoption of self-service kiosks. Self-service kiosks are equipped with contactless payment terminals. They enable customers to make payments via debit cards, credit cards, or NFC-enabled devices such as smartwatches and smartphones. These modes of transactions are very secure, convenient, and fast, which helps merchants minimize waiting time and improve the in-store payment experience. Thus, the increasing adoption of contactless payment will boost the growth of the self-service kiosk market during the forecast period.
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As per Technavio, the growing focus on smart retail stores will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Self-Service Kiosk Market: Growing Focus on Smart Retail Stores
Smart retail stores are gaining popularity with the growing self-service kiosk market trends. It eliminates human interaction to enable self-checkout. Transactions are made using card payment module integrated with kiosks and eliminates long queues at payment terminals. Several smart retail stores are focusing on enhancing the customer experience by adopting self-service kiosks. For instance, the Target brand has already deployed self-service kiosks in its retail stores. Thus, with the growing focus on smart retail stores, the market for self-service kiosks is expected to showcase a positive outlook during the forecast period.
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Self-Service Kiosk Market: Segmentation Analysis
This market research report segments the self-service kiosk market by end-user (retail, travel and tourism, healthcare, financial services, and others), and geographic segmentation (APAC, Europe, MEA, North America, and South America).
North America led the self-service kiosk market in 2019, followed by Europe, APAC, MEA and South America. During the forecast period, North America is expected to register the highest incremental growth due to factors such as partnerships between market participants, growing investment in the establishment of new retail stores, and growing demand for QSRs.
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Some of the key topics covered in the report include:
- Travel and tourism
- Financial services
- North America
- South America
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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