ATM Kiosks Contribute 40% Revenue to Interactive Kiosk Market

An interactive kiosk is a computer terminal comprising both software and hardware and facilitates access to various applications and information for commerce, education, communication and entertainment. In 2021, the revenue of the interactive kiosk market was $26,312.3 million, and it will witness a 7.8% CAGR, to reach $51,582.0 million by 2030. An interactive kiosk can perform numerous tasks, enabling users to purchase items, check information about the available products, or collect cash.

Retailers widely use information kiosks in shopping complexes to lure customers, by displaying the items on offer and their details. Significant growth is expected for the retail vertical in the interactive kiosk market, attributed to their role in the expansion of e-commerce. Further, the advent of artificial intelligence, which leads to better recommendations, assists merchants in determining the right price, project demand, maintain inventory, and further analyze the kiosk purchases for marketing purposes.

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ATM kiosks acquired a significant share of the interactive kiosk market, amounting to 40%, in 2021, under segmentation by type. ATMs are self-service kiosks that enable consumers to make transactions. An ATM can significant increase sales in a convenience store. On average, an ATM is installed every three minutes and used 300 times monthly. Annually, it is utilized for 10 billion transactions in the U.S. The biggest reason for the rising installation of such machines is that they offer ready access to cash 24 hours a day.

The software and applications offered by interactive kiosk market players include remote management and monitoring features, multimedia CMS, and stacks of applications. In order to facilitate kiosk operations, user-friendly advanced software solutions are being introduced in the market. Resultingly, B2C customized retail solutions are witnessing a surge in the demand, thus driving the market. Software is one of the key aspects of a customized interactive kiosk system as it gives these machines application-specific functionality and display graphics.

Since there are lot of established and new companies offering such solutions, their penetration is still moderate. Therefore, companies are taking various steps to increase their share in the interactive kiosk market by leverage the growing opportunities and catering to the needs of a more-extensive customer base. It has become a common trend among larger companies to take over smaller entities; one such example is of High Tide, which acquired Smart Locker Technology and Fastendr Retail Kiosk, by buying Bud Room Inc.

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The interactive kiosk market is driven by the rising demand for vending machines, especially in China. The food and beverage industry of the country is now able to make seamless deliveries through vending machines, with their capability to accept mobile payments. Due to the rise in travel and tourism activities post-pandemic, the demand for interactive ticketing kiosks has also risen. The technological advancements and minimized manufacturing costs are influencing the demand for such equipment, to make the booking and ticketing process seamless.

There has been a constant increase in the APAC population's purchasing power, thus significantly contributing to the improvement in the quality of life. This would further to a high spending on lifestyle-related goods, increasingly through interactive kiosks and e-commerce channels. Additionally, the highest growth rate in the interactive kiosk market is about to be witnessed in the APAC, considering the expansion of the BFSI industry. The increasing installation of ATMs to cater to the high demand for readily available cash is the major driving factor for the market.

Thus, the growing demand for cash, leading to popularity of ATMs, and usage of AI in such machines are driving the market.

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