Multi-function Kiosk Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020-2026

Category: Technology & Media Report Format : PDF Report Code: ZMR-5810 Status : Upcoming

Description

Global Multi-function Kiosk Market: Overview

Multi-function kiosk is an interactive and advanced self-service terminal that allows the customers to pay bills, service request, cash & cheque deposit, and many more activities over the kiosk. For users, they act as a self-service alternative as well as an alternative delivery channel that is convenient and secure. The kiosk is also used for on spot debit card issuance, account opening, credit card application, and acceptance of loan application. It is the fast-catching self-service culture in the banking space.

Global Multi-function Kiosk Market: Growth Factors

The global multi-function kiosk market is rapidly growing. The rapidly growing banking sector, increase in implementation of NFC-based technology in the banking sector, rise in digitalization, and growing preference of the customers to multi-function kiosk to avoid visits to banks are the factors that are primarily spurring the growth of the global multi-function kiosk market. Alongside ATMs, the banks are incorporating multi-function kiosk. These are spill-proof and tamper-proof. Besides, the multi-function kiosks provide numerous benefits which include 24x7 availability, minimizes bank service or operational cost, facilitates to take customer details including photographs, signatures & biometrics, and provides debit cards & cheques on the spot with successful opening of the account. The multi-function kiosk also consist of features such as browser-based internet banking, bill payment facility using net banking or debit card, cheque deposit facility with CTS interface, and inquiry/non-cash services including mini statement & balance inquiry. This offers the customers the full benefit of services and also lowers the customer's wait time, reduces customer attrition, and accelerates omni channel experience. The banking sector is also been benefitted as it reduces the workload. Thus, there is a surge in the demand for multi-function kiosks which in turn is fueling the growth of the global market. Moreover, the rise in investments made by the major players to offer the best of the facilities to the customers is also one of the factors that are contributing to the growth of the market. Furthermore, the rise in the development of services and technology to enhance the effectiveness and efficiency of the kiosk may lead to ample opportunities for the growth of the global multi-function kiosk market over the forecast period. However, the rise in the use of mobile & tablet for banking purposes and high installation cost associated with the multi-function kiosk may hinder the growth of the global multi-function kiosk market.

The outbreak of the Covid-19 has temperately affected the growth of the global multi-function kiosk market. During the first half of the year 2020, most of the countries in the world had to follow strict lockdown and restriction on movement policies imposed by the government to limit the spread of the virus. The banking sector also had to temporarily close its operations. Later with the ease in the policies, the banks were facing work pressure due to limitations on employees and social distancing. The customers preferred kiosk to avoid visiting banks. During a pandemic, most of the population’s inclination was towards contactless payments. Thus, a steady growth rate was been witnessed amid the pandemic situation.

Global Multi-function Kiosk Market: Segmentation

The global multi-function kiosk market is classified based on the type, component, application, and region. Based on the type, the global multi-function kiosk market is divided into information kiosks, self-service kiosks, internet kiosks, and others. Based on the component, the global market is split into software and hardware. The application segment is bifurcated into grievance management, bill payment, information services, and others.

Global Multi-function Kiosk Market: Regional Analysis

Asia Pacific region is estimated to hold the largest share in the global multi-function kiosk market during the forecast period. Factors such as an increase in the trend of digitalization, growing demand for kiosk due to its numerous benefits, and rise in the introduction of the multi-function kiosk by the banks to lower the operational cost are chiefly boosting the growth of the market in this region. North America is expected to hold the second position. Sustainable economies and the rapid adoption of technologies are the factors that are driving the growth of the market in this region. Europe is also anticipated to account for a significant share in the global market.

Global Multi-function Kiosk Market: Competitive Players

Some of the key players operating in the global multi-function kiosk market include Forbes Technosys Ltd., AURIONPRO, GLUCK INTERNATIONAL LLP, Aplab Limited, Cyber Kiosk Solutions, Inc., Albertsons International Private Limited, KIOSK Information Systems, LamasaTech Ltd. C-Edge Technologies, and Infinitas Technology Solutions Pvt. Ltd.

Global Multi-function Kiosk Market: Regional Segment Analysis

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

What Reports Provides

  • Full in-depth analysis of the parent market
  • Important changes in market dynamics
  • Segmentation details of the market
  • Former, on-going, and projected market analysis in terms of volume and value
  • Assessment of niche industry developments
  • Market share analysis
  • Key strategies of major players
  • Emerging segments and regional markets
  • Testimonials to companies in order to fortify their foothold in the market.

Table Of Content


Frequently Asked Questions

The rapidly growing banking sector, increase in implementation of NFC-based technology in the banking sector, rise in digitalization, and growing preference of the customers to multi-function kiosk to avoid visits to banks are the factors that are primarily spurring the growth of the global multi-function kiosk market. Furthermore, the rise in the development of services and technology to enhance the effectiveness and efficiency of the kiosk may lead to ample opportunities for the growth of the global multi-function kiosk market over the forecast period.

Some of the key players operating in the global multi-function kiosk market include Forbes Technosys Ltd., AURIONPRO, GLUCK INTERNATIONAL LLP, Aplab Limited, Cyber Kiosk Solutions, Inc., Albertsons International Private Limited, KIOSK Information Systems, LamasaTech Ltd. C-Edge Technologies, and Infinitas Technology Solutions Pvt. Ltd.

Asia Pacific region is estimated to hold the largest share in the global multi-function kiosk market during the forecast period. Factors such as an increase in the trend of digitalization, growing demand for kiosk due to its numerous benefits, and rise in the introduction of the multi-function kiosk by the banks to lower the operational cost are chiefly boosting the growth of the market in this region.

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