The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including Interactive Kiosk Market. It was estimated prior to this unanticipated outbreak Interactive Kiosk Market will reach CAGR of 4.5% during the forecast period. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.
Interactive Kiosk Market Insights
Interactive kiosk market is likely to witness a CAGR of 4.5% during the forecast period. Increasing efforts on enhanced shopping experience for the customers, cost minimization advantages over traditional outlets, and innovations in touch screen displays are expected to drive the interactive kiosk market during the forecast period.
Market Share Analysis Interactive Kiosk Market Share: By Kiosk Type
Based on the kiosk type, the market is segmented as bank kiosk, self-service kiosk, and vending kiosk. Vending kiosk is expected to remain the dominant segment during the forecast period. These kiosks are mainly installed in retail stores, airports, hotels and restaurants, railway stations, and shopping malls among others. Expanding virtual space in retail outlets in order to establish secure payment gateways and to enhance operational efficiency are expected to propel the vending kiosk market.
Interactive Kiosk Market Share: By Location Type
Based on the location type, the market is segmented as indoor and outdoor. The indoor segment is expected to dominate the interactive kiosk market during the forecast period due to its use in malls, healthcare centers, banks, airports, government &corporate offices, and casinos. Increasing trend of self-service in retail, entertainment, banking, hospitality and transportation sectors are the prime reasons for the larger share of indoor kiosks in the market.
Interactive Kiosk Market Share: By Vertical Type
Based on the vertical type, the market is segmented as retail, healthcare, hospitality, government, banking & financial services, transportation, entertainment, and others. The retail segment is expected to dominate the interactive kiosk market during the forecast period. Interactive kiosk in the retail segment enables in store product information and promotional displays for the shoppers to attract them to the store.
Interactive Kiosk Market Share: By Region
In terms of regions, North America is estimated to remain the largest market during the forecast period due to the government initiatives to build secure network, to protect data, and highly regulated compliance management system. With the expansion of IoT devices, sensor connectivity, and other cyber oriented systems, reliable access to sensor data and creating safer work environment are the needs of the hour, which are driving the growth of the region’s market.