Self-Service Kiosk Market Growth
“The Business Research Company recently released a comprehensive report on the Global Self-Service Kiosk Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.
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According to The Business Research Company’s, The self-service kiosk market size has grown strongly in recent years. It will grow from $24.8 billion in 2023 to $26.99 billion in 2024 at a compound annual growth rate (CAGR) of 8.8%. The growth in the historic period can be attributed to operational efficiency and reduced wait times, data collection and analytics, accessibility and inclusivity, streamlined check-in and check-out processes, enhanced payment and transaction options.
The self-service kiosk market size is expected to see strong growth in the next few years. It will grow to $37.69 billion in 2028 at a compound annual growth rate (CAGR) of 8.7%. The growth in the forecast period can be attributed to personalization and user experience, remote management and maintenance, IoT expansion and connectivity, security enhancements, rise in convenience-driven consumer behavior. Major trends in the forecast period include contactless technology integration, enhanced user experience, AI and machine learning integration, expansion in various industries, biometric authentication.
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Market Drivers and Trends:
Increasing integration of payment gateway systems with self-service kiosks is expected to drive the self-service kiosks market moving forward. A payment gateway is a user interface that collects payment information. Merchants utilize this technology to accept debit or credit card purchases from customers. Payment gateways accept and secure payments by various methods and enable cashless and contactless payments, which enables self-service kiosks to accept all kinds of payment methods making overall operation user-friendly and faster. For instance, in February 2022, Citcon, a US-based financial services provider, expanded customer payment options for restaurant self-serve kiosks with ABCPOS integration. This integrated payment gateway enables point-of-sale transactions with PayPal, Venmo, and other payment methods. Therefore, the integration of payment gateway systems with self-service kiosks is expected to drive the self-service kiosks market.
Technological advancements are a key trend gaining popularity in the self-service kiosk market. Major companies operating in the self-service kiosk market are focused on developing technologically advanced solutions to enhance user experience and overall operations. Such as advancements enable key players to gain a competitive edge in the market. For instance, in June 2022, Vision-Box, Portugal-based biometric technology solutions provider for airline travel, introduced the Seamless Kiosk, a self-service kiosk equipped with biometric identification, a smart passenger guide system based on artificial intelligence, a new immersive camera system, audible and highly tactile assistive interface, and braille signs. Seamless Kiosk improves user experience by improving navigation and screen-based content selection, assisting passengers with impaired eyesight, inability to read, restricted reach, or limited dexterity, and assisting any user to follow directions effortlessly.
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Major Key Players of the Market:
Thales Group, HESS Cash Systems GmbH & Co, NEXCOM International Co Ltd., NCR Corporation, Fuji Electric Co Ltd., Diebold Nixdorf Incorporated, Crane Co, Advantech Co Ltd., Glory Ltd., GRG Banking Equipment Co Ltd., Hitachi Payment Services Pvt Ltd., NeoProducts, Verifone Inc., Pyramid Computer GmbH, Embross Systems Pvt Ltd., REDYREF Interactive Kiosks, KIOSK Information Systems, Frank Mayer and Associates Inc., Peerless-AV Inc, KAL ATM Software GmbH, Source Technologies, Vivonet Inc, Azkoyen SA, SlabbKiosks Inc., Olea Kiosks Inc., Livewire Digital, Meridian Kiosks, Lilitab LLC, ZIVELO LLC, Aksor Société par Actions Simplifiée
Self-Service Kiosk Market 2024 Key Insights:
• The self-service kiosk market size is expected to see strong growth in the next few years. It will grow to $37.69 billion in 2028 at a compound annual growth rate (CAGR) of 8.7%.
• Surging Role Of Integrated Payment Gateways In Fueling Self-Service Kiosks Market Growth
• Technological Advancements Redefining The Self-Service Kiosk Landscape
• North America was the largest region in the self-service kiosk market share in 2023
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